Yack,

No, I don’t take the piss out of agents. The primary reason is that to take the piss out of them, means that by default, we are upsetting the vendor. A good RE agent will be protecting the value of the asset for the vendor, and I always think it’s sad if people go into a house for sale and tear it to shreds- it used to be someone’s home. I…[Read more]

Stainless steel/euro appliances were once fairly unique in architect-designed units- now they are all built that way. It’s one of the first things I check out when looking at a place- what are the kitchen appliances like? I think if you go to a kitchen place now, you’ll see they have taken over the white upright oven. epends upon afordability-…[Read more]

Nmcace,

The schedule cost me $660. I got one done because mine is a post-1985/1987 property and therefore the cost of the building (and other things on the shared property, such as swimming pool and tennis court) can be depreciated. If your property is pre-1985/87, you can’t depreciate the cost of the building, but you can depreciate inclusions.…[Read more]

Depends on where you’re viewing from, Marc… I find your comments to be very mainstream.

There were some comments someone made earlier about doing what the experts do. Whatever happened to “success comes from doing things differently”? Or “think outside the square”? Are we to do things the same as others? Or do things differently? I think a lot…[Read more]

So you DID buy the property, Rod? You flipped it, right? The didgy ones with the bad BPI’s? Yeah, amazing what people will do…

kay henry

Yes, Bondy did appear rather not at his best. He still did his jail term though. What gets me is that there are SO many ill people in jail, and the rich seek to use their mental health as an out, whereas the poor can’t do this to such an extent. I am not referring to the ones who are deemed “insane” (they go to a criminal psychiatric hospital…[Read more]

Skase died, richmond- how much more ill can anyone get?

kay henry

No kidding, geo- stupid cliche. I’m gonna change it. Remember when Elle McPherson said she only ever read anything she wrote herself? I thought that was hilarious at the time But let me change my words before I wax lyrical about great authors (ahhh, Elle- too funny!)

kay henry

Just a comment on the buying of 5 X 100k properties. One still has to be able to *service* those properties. You then have another 400k to service. I guess if they are CF+ properties, the rents pay them, so in my situation, they would have to be CF+ props.

It all depends on the author’s situation. If he/she owns his/her own home, then…[Read more]

Back on topic, and thanks, geo.

I restate that Rivkin probably had his licence taken from his because it was widely said (by his family publicly in the Australian Story or whatever it was) that Rivkin was making poor business decisions and that his illness was compromising his judgement considerably. I am not sure what the licensing requires, but…[Read more]

arborphile,

Check out the Kalgoorlie post on this Forum, to see some of the CF+ properties still available. Peterp, in particular, provides some info on properties there. It seems that there are still places, such as 1995 units, that are providing returns of circa 10%. As with all mining and isolated areas, these provide a level of risk… but…[Read more]

OK, here’s the article (or a very similar one) that I was referring to. It’s written in July 2003- possibly dated? But I doubt they have expanded their lending policies since then:

http://moneymanager.smh.com.au/articles/2003/07/16/1058035041642.html

Not a bad read t see the relative lending policies.

kay henry

alf,

Innercity apartments at 70% LVR has been happening for a while- in general, across the board, to my knowledge. I don’t see it as a big deal. Keeps the old LVR down :o)

I pasted an article with all the Banks LVR and lending policies on here a while ago. I’ll hunt and see if I can find it.

kay henry

Mouse,

The way to do some objective research is to look up the news etc. I went to google.com, and then to the news section, and typed in Invercargill.

A few things I came up with:

http://www.nzherald.co.nz/business/businessstorydisplay.cfm?storyID=3585410&thesection=business&thesubsection=economy&thesecondsubsection=nz&thetickercode=

States…[Read more]

trisha,

65, maybe 70 :o) I’ll work for the community until then (not for myself). I guess I’ll want my tenants to work until they’re 65 too, so that they can continue to pay my rents. Someone has to work- may as well be my tenants.

When do we want out tenants to retire?

kay henry

Umm.. no, Wallflower, got no more “new black” references. I think it speaks for itself.

and calvin… ahhhh, what can i say to this:

“LOL
Thanx WallFlower, I got a good chuckle out of that, even if you had a go at a FELLOW forumite!”

Oh, you really got me on this one… the sophistication of this Forum really does my head in.

kay henry

Penrith is a good/great area? Wow folks… I’ve never heard of such a bizarre statement on this Forum. you can tell by the rents what kind of area it is. Do some checks on realestate.com.au to check rental yields, Chicken.

For the price, I think you could do MUCH better elsewhere.

kay henry

calvin,

Seems like you’ve done ok. Sometimes anyone can try and make people feel stupid. RE’s, property investors- hehe. I wouldn’t worry about it. I do have a bit of a rule for me… if someone patronises me- a RE agent, for example, I won’t bother with the property. There’s too many properties around, and it’s too big a purchase, to feel bad…[Read more]

Brizza,

I doubt it. Reason being, you could smash up that car tomorrow and have no insurance. Loan applications don’t ask if you are insured for your car. Also, cars depreciate to such an extent, that I wonder would it be worth their while. If you have a Rolls Royce, or a car that may maintain/appreciate in value, then it might be a different…[Read more]

calvin,

If you’ve already negotiated on the price, then think about the inspections and the price you’ve paid. I negotiated on a property, then got inspections done, found a few small problems, but then thought that I’d already negotiated price, so I was happy not to worry about the other small. cosmetic stuff. Depends on how you want to play…[Read more]