Forum Replies Created
- Originally posted by Derek:Originally posted by Stan_Jones:
Don`t worry – this man has forgotten his first post in this forum.
Stan – it was probably deleted along with the others advertising for investors for Bulgaria.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958
Skype – derekjones2113Ignoring all the spam etc around Bulgaria and the Batic states there are probably real buying opportunities there. I work with someone who has bought there , the “‘secret “” is to have someone on the ground who knows the local procedures , laws etc . In the case of the guy I work with, it was his mother, so don’t underestimate these old “fuddie duddies “
Originally posted by theREALestateAGENT:Originally posted by Bronny:Since looking at properties for the last 5 years
I thought RE agents in suits were like cars salespeople, but after a recent run in with an
agent from Sea n Side at Largs Bay, my attitude
has changed. This guy David Loper a young american
dude, wore a cap,jeans,worn tshirt & joggers.
I met him at an open on a group of units at Albert Park, I was very interested and wanted to put in an offer, he had no forms and was going to fax me one, never did and 1 week later rang to see if I was still interested..NO!! I told him. All I can say is I now appreciate a suit!!!well if you had given the correct fax number you may have received the info. rather than be a peanut and respect the fact the I had come to show you the property on my time, as you are obviously unable to read the paper for open times, you mighten have been looking for 5 years. DON’T FORGET WE ARE PEOPLE TOO AND YOU JUST GO ABOUT YOURSELF ASKING IF I WANT FRIES WITH THAT!! PEANUT
Whoa…. obviously a few issues going on here that are probably best sorted out offline.
Was drawn to this post because I read the forum regularly and this one has never come up in active posts yet had so may replies, now can see why, last post before today was in 2003.
My immediate thought was how the tables have turned. I was not in the market in 2003 as a buyer or a seller. As a 45 yo cynic I just laugh about concerned buyers not being taken seriously by agents because of the way they are dressed… ummm who is the customer here ?…does the agent think he is god because he’s in an Armani suit and a leased BMW ? – dunno, but sounds like the original poster must live in the eastern suburbs of Sydney as do I, where yuppism/wankerism is still breeding. Both sides should get over it and move on and in particular treat the wankers with the contempt they deserve. If some narrow minded house/car salesman wants to treat you differently because of what you wear or whats between your legs then move on – its unfortunate that people with attitudes like that are sharing the same air that the rest of us breath.
Maybe if you where a buyer in 2003 that was ignored because of the way you were dressed or your gender you could take the deposit you had then and use it now to buy the REA’s business ? [eh]
What he said [thumbsup2][thumbsup2][thumbsup2]
I’m not a mortgage broker and have no affiliation to one, so I would thoroughly recomend that you get involved with one, rather than the banks direct – the emplyees at the bank are only following the rulebook that their manager gave them – very little scope for them to deal with reality
Originally posted by Derek:Hi Didi,
Don’t go to a bank – see a broker with access to a variety of lenders.
Be up front with the broker so they can best place your loan application with an institution that will assist.
.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958
Skype – derekjones2113Originally posted by brendon11:what i mean by ‘home owner’ mode is basically my bank has different interest rates for home owners and investors, home owners having a slightly lower rate
Take this with a grain of salt, but have you checked your loan agreement. My only frame of reference on PPROR loans is from about 20 years ago when “thou shall not blow thy nose unlest thou asketh the bank”‘ – if that is still the case then to be technically correct maybe you have to “”ask””/ tell them that you are no longer an owner occupier and you have leased “their”‘ property out to tennants.
regards,
Paul
Originally posted by DLPP:the advantage of property is gearing and captial security
managed funds and shares are very significant wealth creation vehicles – read peter spann – but just my personal opinion and I sure it will get shouted down – i would not put 700k (unless this represents less than 30% of your total equity ) of cash into equities at the peak of the cycle – maybe 12 months in a fixed income fund or cash heavy investment may serve you wellI Buy Property http://www.cashflowproperties.co.nz
Before you get shouted down, I will say that I wholeheartly agree with everything you have said. No offence to anyone who is a bit younger in years or investing experience, but the last 5 years or so have probably seemed like a money making party in both property and equities. Well.. the property party is over for the time being and opinions are very mixed on equities.
So much could be said on this topic it probably deserves it own sub forum, which won’t happen here as it is purely property.
My advice to ttman would be to have a good look at informed opinions on the equities market, check out other investment forums where people who are actively in equities discuss various strategies, and make your own mind up from there.
Expert opinions vary from “correction coming soon” to “party will go on forever”. Right at this moment I am grappling with all of that.
The last thing I would do is drop $700K into direct equities/managed funds right now… UNLESS… you are looking long term – you only lose money if you sell.
If you are after a quick short term gain on the basis that what has happened in the recent past will continue indefinitely, then I would have a really serious think/ research before committing.
One method… again only if you are looking look term is “‘Dollar Cost Averaging”‘ ie buy in at $X per month or put 50% in now ,hold your breath, watch the trend – if it continues up, well your happy because your 50% in and infront. In this case its up to you when and whether you put the other 50% in.
If things head south, and your in solid blue chips/managed funds for LONG TERM, well watch it go down and pick a point to committ the other 50%. Your average cost per share/unit is lower. ‘
Don’t try and pick the top or bottom of a run – you won’t get it right. Experts are paid mega bucks to do that and more often than not get it wrong.
Anyway.. thats enough from me.. gotta go and pick the kids up from ballet
………………….since my previous post the only thing that has happened is it seems to be getting worse, especially over the last 2 days, getting to the point of why do I bother wasting my time waiting for the screen to change. I have ”benchmarked”‘ the response times on the forums by opening other windows and clicking around on other sites at the same time as navigating the forums.
It ain’t my connection at home (broadband) that is the problem, and it ain’t my connection at work (broadband X100 – super fast network of mutinational coy).
regards,
Paul
Originally posted by Mortgage Hunter:It is a shame that I am meeting less and less of my clients. I genuinely enjoy getting to know people over a cup of tea and a chat.
Would thoroughly recomend Simon Macks, just finalised a refinace deal through him on Friday. My situation was apparently fairly straightforward (but still complicated to me ). Met him once, a while back, mainly due to me travelling to Newcastle for work, and from what I can pick up he really tries hard for people in fringe/difficult situations. Not sure if he travels to Sydney to see clients.
After the initial meeting most corro was via phone or email, so location doesn’t matter that much. My finance was finalised via someone in Melbourne who dealt with the Adelaide Mortgage Centre of one of the major banks. Doesn’t matter to me, I still went up to my local branch and signed the papers and established contact with someone there.
However, stress that I have “”met the man that runs the store”” – for me thats important, because I’m an old school ” fuddy duddy”” . Others may be happy to just deal remotely, but then they miss out on the rumoured cold beers that are supposed to be in the fridge in Simon’s office.
regards,
Paul
Was born and spent the first 25 years of my life in Newcastle, NSW.
My most enduring vivid memories of external /material things is .. wait for it…. the taste and smell of real tomatoes grown by my parents in our backyard. A backyard that sort of merged into the backyard of the 3 houses to the left of us because there were no 6 ft dividing fences, only retaining walls.
Also the fragrance from the jacaranda tree in our backyard when it was in flower. All that in spite of our many attempts to destroy the efforts of our parents by playing test cricket on the adjacent lawn, lol
Originally posted by Pepsi:When is it ok to quit your day job to go into Property Investing Full-Time? I only work part-time and I find it hard to find the time I need to put into looking for deals. Yet if I quit my job, I assume the banks won’t lend me as much as it would decrease my income. I feel as though I’m in a catch 22 situation. Any good ideas??
Pepsi
[rolleyesanim]The eternal question, that I am coming to gripes with myself. Have a look at the many topics here and on that other investment forum around the topic LOE or Living Off Equity. If you have enough equity that is producing the income you require to fund your lifestyle then you can quit your day job tommorrow. [biggrin]
If you don”t then you just have to make/find the time to be a part time property investor — read, learn, inspect, talk to REA, attend auctions in your spare time – not easy, but unless you can afford to give up your day job now you have to do it this way.
regards,
Paul
Just realised I didn’t answer your first 2 questions. Do a search and you will find this topic has been discussed many times. I have been there, done that, thats why I answered your third question as I did.
There a couple of good ones that post here regularly, Scott aka Depreciator springs to mind, haven’t used them but intend to soon. I think they work in a fairly wide area so Glenroy or Ringwood/Vermont areas? shouldn’t be a problem unless you are talking Vermont in the US [biggrin]
Originally posted by Mortgage Hunter:Paul,
I hate the idea that a new user is being ignored.
Posting one line complaints that are not immediately justifiable doesn’t make it easy.
Hi Simon
…whoops…[blush2]. been out of town for a few days and away from net, just now catching up.
Can’t recall what I was thinking at the time, made sense at the time [confused2]…there was some nonsense going on in another (non investment )forum at the time and maybe my obtuse brain connected the 2 issues. [guilty]
Sometimes I think too much, lol. Anyway I do feel welcome and comfortable here, not ignored at all.
Sorry if I have confused/offended/annoyed you or other member.
regards,
Paul
Sometimes I just dash stuff of the top of my head because there is nothing worse than typing a long epistle only to find the thread locked.
So are you saying that when the keyboard engages, brain disengages ?
….and therein lies the problem for newbie posters like me…. experienced posters having little spats at each other over topics that newbies would start, because thats been the way it is and has been for the last 100 years…, but if an outsider dares to say something… at best they are ignored, at worst they are banned
regards,
Paul
I understand that company title does cause some problems with financing, but you say it is inner west and you bought it 8 years ago ? You would have to be sitting on a truckload of CG ? – even given the Company Title stigma. Have you thought about borrowing against the equity you have ? to fund either PPOR or investment spending.
… just reread your post to make sure I’m on topic/track… your big concern seems to be the holding costs of neg geared properties.. if you have borrowings up to 80/90% of your equity then you may have over extended yourself…maybe need to realise some of the equity, paydown debt and start again
regards.
Paul
[lmao][lmao][lmao][lmao][lmao][lmao]…. now that I’ve picked myself up, thanks for posting that Simon.
Scary thing is, I think the author was describing me, lol
regards,
Paul
Hi Simon,
lol, I suggested a Buyers Agent to leewizza, maybe I should follow my own advice, [guilty] once everything gets bedded down.
regards,
Paul
Originally posted by leewizza:As for getting off my chair. It’s a bit hard (I work 6 days a week) and not many (if any) RE agents are open Sundays.
I need to work, being only 22 and not a lot of fin. backing to leave at this stage. So it is real hard to do anything but look at these on the Net and in Newspapers, etc.
Thanks for your guidance.Hi,
A lot of forumites, like me, are time constrained due to pesky full time jobs.
Do you get paid holidays, if so, take time out “on the pavement”” in your choosen area(s) or even your local neighbourhood – walk the streets – streets you normally don’t walk/drive through. I have been surprised – “”mmm.. that old house has been knocked down and their building 6 units.. didn’t know it was zoned for that””… “”… that place has been for sale for ages… maybe worth a look”” “”… there was a “for lease”” sign put up 2 days ago, now its gone”” …etc etc
Go to open houses, auctions, talk to RE agents, get a feel for the area.
If the experienced posters here are saying there are cash +VE deals out there , then I would believe them, its a matter of time spent on the ground looking. Agree that you won’t find them clicking around the net.
If you can’t spare the time, maybe a buyers agent ?
Don’t take this the wrong way, but if I stumbled across a cash +ve deal I wouldn’t be telling you or posting the specifics here, until after I had bought it, [wink]
For me personally, I have accepted that no one is going to hand me a cash +ve deal on a plate, especially in my choosen areas, and have accepted that in my current situation I don’t have a lot of time to go hunting, so have diverted my available time and energy into other investment options.
regards,
Paul
Originally posted by Nat R:I watch the ASIC webpage and I’m amazed how slow they are to react to some events, even the SMH ran a story yesterday on how ASIC thought something was amiss at Westpoint
Just food for discussion !!!Problem with ASIC is they are a public service body. The body has powers but the people doing the work were asleep on their watch with the Westpoint thing, just as they were when HIH was falling apart. I work in the industry that HIH was in and we all “knew” for many years it was bound to happen. When one disaster took over another disaster ie FAI, it was only a matter of time ….
Saw the head honcho of ASIC being interviewed on, I think the 7.30 report , this week about Westpoint and he had NFI of what did/was happening… scary
There were alot of posts about Derivex that talked about ASIC… I tried to bit my tongue, but think I posted something about ASIC being a “toothless tiger, don’t hold your breath.”
regards,
Paul
Originally posted by Shwing:Paul, I definitely was not refering to you as a clown.
Mal
Getting out of your comfort zone, can help you become comfortable
Mal,
Didn’t take it that way at all, although I have been called worse !
Just didn’t “get” your comment, thanks for clearing it up.
Trying to steer this thread in another direction instead of having the originator having a go at some fairly experienced and generous contributors. I think I have contributed my 2cents worth to the original posters main message – or my interpretation of what he was saying anyway.
…and another thing … people who insist on talking as loud as they can and for as long as they can on mobile phones whilst on a bus/train…FFS shut up so I can concentrate on my reading…. ditto people who have to have their walkman/IPOD at maximum volume, maximum bass so that everyone else gets to share the repetitive boom, boom.boom.
Thats some of the things that eat me, lol
regards,
Paul
Originally posted by Shwing:Skills shortage, maybe !!
But definitely, “Too many clowns , not enough circuses”, I’d say.
Mal
Getting out of your comfort zone, can help you become comfortable
Mal,
Sorry that went over my head… too late at night, brain and wit gone to sleep. “please explain”‘
[confused2]regards,
Paul
