Forum Replies Created
Thanks Again everyone.
I think best crossing few things – low establishment fee, good rates, less mortage insurance, flexibility (redraw, discharge – because you donot know when it is raining in your life). Wizard seems very good? does anyone agree?
Thanks Everyone,
I got $330k from ANZ with two houses worth $520k. ANZ only do low doc at 60%. Therefore compare with 80% (other banks), I locked $86k – which I could use for renovating or buying. I also got another loan from CBA of $330k with two properties worth $600k (one house is under construction). — you can see I got some equity locked and I want to release it and use it.
Dmichie, I am normally pretty negative on the market. But I found you are addicted to this. It make me feel sick of you. Why can not you use the negative to bring up some good points such as how to make money in a down market rather than just bring up the articule you saw – some maybe rubbish. We need use the reality to our benefit – people want to find a clue in the market. Some are very experienced some are not. We wish to listen to good experience and lessons. Of course not those seminar advertisers’ marketing points. I could not remember the Michael XX name. He said he made a lot more money each year from his property development than his 100 @ 3500 seminarl – which he would make at least $250 000 (as Mortage Adviser said). I browsed his website. I believe he was exaguating. I do not know whether he could make $250 000 from his property. This is a standard kind of person I wish them to go away from this website.
Totally agree with Marisa – all these people are boasting these good seminars. I am not sure how many of them are using these “strategies”… talking is free…doing is a risk…
I am not sure what Dazlling wanted to point out. Is it good to live on equity or live on cash. He mentioned if he did not sell the lots, it would be worth $4m (is it same idea like you withdraw equity but keep the lots?).
Please read this from today’s paper
Perth property prices on the way up again -16 May 2005KELLY GIRDLESTONE
Perth’s property market has entered its second growth cycle, skipping the traditional downturn to post stronger than expected March quarter results.
While NSW, Queensland and Victoria are struggling to achieve positive growth in prices after their much stronger booms, Perth is surging ahead.
The latest Real Estate Institute of WA housing statistics revealed the Perth median house price rose 3.4 per cent to $284,500 in the March quarter. It was an annual increase of 13.3 per cent.
The report also showed WA’s booming regional centres, with Port Hedland and Bunbury leading, were outstripping Perth.
REIWA president Greg Rossen said after a quiet second half of 2004, the housing market in WA rebounded strongly.
He said WA’s powerful economy and a higher population growth rate were continuing to reflect positively.
“We believe we are in another growth phase,” Mr Rossen said. “We have had a corrective phase over the past 12 months with sustained growth and it did dip by $500 one quarter.
“The typical downturn is at 18 to 22 months after the peak of activity, which was June 2003. Anybody charting the market will see evidence we have had a limited downturn and are now in a new growth phase.”
A strong economy, more migration to WA and a low vacancy rate of 2.6 per cent was also putting pressure on rental prices.
Both unit and land prices enjoyed healthy growth in the quarter, rising 3.8 per cent and 2.6 per cent respectively.
Housing and land shortages in Port Hedland contributed to a massive 77.9 per cent growth in the three months to March.
Mr Rossen said Port Hedland was also an unusual market, affected by itinerant workers and the wide variety of housing stock sold in each quarter.
Bunbury’s increase in prices of 36.3 per cent in the year to March reflected a catching up to the other South-West markets, strong investment, low vacancy rates and waterside location.
Investment property for sale. $250k Quinns Rocks in Perth. 40km to Perth CBD. 5 minutes drive to Beach. walk to school and bus. In front of a park. 3 Beds 2 Baths built in 1996. Light bricks. Double carports with more parking. Excellent investment opp
I do not how many leads from your advertising your website and your title. Obviously, when those not experenced people on this forum is influenced by you and other “positive” comments to buy an get burnt, you will say “poor” guys with no experience … you are “hahaha…” I also knew an investor following some kinds of advice and signed contract and spent $40000 renovating – to make a good buck as advised by some book or someone. Guess what – the bank did not approve the loan … He borrowed $40 000 and changed a lot of the house .. in the court now. We do wish some good and nutrial thing on this forum not only your ONLY positive comments to woo someone to use your services
It is unethic to when share brokers recommend to sell when itself are buying…
I fully agree with the last messages starting from Mike Jackson. If they are that good, they would not do the seminars for $1000+. What a good cash flow? Assuming 100 people on a $3000 (3 days) seminar – $300 000. What other investment (? property) is better than three day talking. I do not dely they may have few small things people do not know. But it does not worth that. I buy and sell and my target is net $100 000. I do not hold them very long – unrealised money is not your valuation.
I am not sure the legality of the process. Firstly, dobule stamp duty if you do it according to the law. If you want to avoid the law, you can make any money you like such as not paying CGT. I do not know any lawyer would do such thing for you. I have also some questions about the examples in Steve’s book if you take into account the full tax or CGT. These people made NET $400000 without initial substantial capital. There is no doubt about the good things I learnt in the book.
Rerow, You definately have to pay the 50% CGT as it was an example quoted in BRW sometime this year.
