resi,

Three of the possibilities that I think will get investors into trouble:

* 105%/100%/95% or any high borrowing ratios
* IO loans in a declining market
* People giving up their jobs or never having one and then thinking they can live on residual income of $50 per week X however many mortgages- well, that’s 20 houses to get a bare wage of…[Read more]

gmh,

West Pennant Hills as a “boutique suburb”?? That must be a joke.

kay henry

depreciator- heya

Sounds like your buyer is a cheapskate. Guess that if a person buys a car and they get it out of the showroom and blows up, then it’s worse less than a docklands apartment.

I spend months checking out locations for property, before I really feel comfortable, so I can understand obsessive research- I think it’s healthy to do…[Read more]

sis,

Procedural fairness in decision-making requires that you be provided with a reason for decision. Ask for the reason to be sent to you in writing or you’ll sick the Banking Ombudsman onto them. With most policies, there are also appeal mechanisms if you feel like you’ve been dealt with unfairly or a decision was made that was factually or…[Read more]

rumbiz said:

“…a serious issue….security….how many ways can landlords offer a more secure rental property without going bananas?”

rumbiz, some places have discreet camera settings in apartment blocks, but the thing is, tenants don’t want to consider themselves under surveillance also. My apartment block where I rent has just put in such a…[Read more]

To my knowledge, carlin, it’s not legal for an agent to disclose the other vendor’s offer.

kay henry

Brett,

Yes, you can mention the Reno Kings here- you can mention anyone at all.

kay henry

I think though, for senior managers, older people will generally be in mind- as in, over 40, and with or without a degree- in the private sector. Add some overseas experience and voila!

kay henry

Not in my books, Anubis. The CGT is calculated on your taxable income- if it’s 55k,then you fall into the lower threshhold. CGT is not adding taxable income to CG. It’s based upon the initial taxable income- ie wages. The CG is separate.

kay henry

When I was selling, I told the agent I did not want to hear about offers lower than $XXXXXX.

Carlin, you have not provided much details about your offer, and the reponses provided here have seen the Agent’s behaviour to be negligent. however, it depends on what your offer is- I have no doubt vendors get bloody sick of lowball offers. If someone…[Read more]

Rob,

You may think the people with degrees you see are a bit moronic, but reality is, in most (professional) or emerging white collar fields I know of, a person with a degree will be employed over a person without a degree any day. Right now, you’re unemployed, and need a job. I reckon even if you enrolled in a degree, it would get you those…[Read more]

As a tenant, I wouldn’t fall for any oof the aobve stuff really- but would fall for the old “pizza per month of you pay rent on time” thing [biggrin]

Tenants aren’t fools- they are not going to think a dishwasher is worth paying extra rent! New apartments have dishwashers, no lawn etc. and tenants usually come equipped with their own stuff- so no…[Read more]

Robert,

Perhaps you might think of getting a degree.

kay henry

bacchu- just out of interest, how did the buyer find you to make an offer?

Another way to work it out is to think of an amount of the top of your head – eg, 40k or something (less? more?)- whatever works for you- and decide if you can walk away from the deal with this amount- after CGT is paid and whatnot. The amount could be whatever is in your…[Read more]

I agree with lonnie about how to make a purchasing decision. Check past sales, and try and be a bit scientific about the purchase- if you can value the property yourself by doing as much research as you can, then you won’t be thinking about arbitrary things like lopping 10% off purchase price.

For example, if it was a beach front property for…[Read more]

tsk…

I am sure many people on here realise that so many people got their money through inheritance- one hardly needs genius to make money that way…

resi… the words “wealth” and “rich” don’t have capitals- they are not proper nouns (unless as keywords in titles etc). Some marketer somewhere just told authors to Write Them in Capitals to…[Read more]

Originally posted by Byron Sam:
recently (1 month ago) purchased a block of six with a risk downside of over 40%.

Byron Sam

What does that mean, Sam?

kay henry

Rhett,

I’ve hear about this “offer expires” thing… but I don’t know about its validity. To a seller, I imaine it means nothing. You can expire your offer, but i doubt the seller will feel pressured by it. They will either accept your offer because they think it is reasonable, or won’t accept it because they think it sucks.

kay henry

Neo- no offence at all Just didn’t want anyone to think I had different reasons for loving the area than I do

Clover has been a great supporter of this area, and I think the new Sydney Council – who also oppose Sartor- will try, within their power, to maintain Indigenous housing.

It will be a terrible shame for Redfern to disappear as we know…[Read more]

Re the Redfern discussion… just to clarify my position here. I do NOT want the Block knowcked down… I do NOT want the suburb gentrified and my neighbours unable to afford to live here. I think Frank Sartor’s mob is outrageous, and I believe in Clover Moore’s protection of the area.

I do NOT want Indigenous people forced out of my area for the…[Read more]