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kay henry
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@kay-henry
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December 23, 2003 - 8:57 am
JB,
42 properties is a lot of property! do you ever get told you’re too “rent reliant” by financial providers? i always think i’d have to earn a million bucks to be able to own that amount of property.
kay henry
kay henry
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December 23, 2003 - 8:45 am
Melanie, you are such a softy :o) good to see a few “wets” in the property industry. Happy Xmas to you also
kay henry
kay henry
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December 23, 2003 - 8:42 am
Yes, watchdogs and whistleblowers aren’t particularly popular people during the time they’re trying to expose dodgy stuff. it’s only after the guru has fallen that they get the credit. I’m thinking about those nurses who explored the snuff culture at a major hospital recently.
frankly, i am not sure any person’s *life* should be up for public scrutiny- whether they are in the public eye or not. I think their business practices and ideologies they base them on should be open for critique- but not their private lives- which probably have buggar all to do with their business practices.
One thing i’ve often found is that when people can’t base their arguments upon logic, they often try to criticise the person- not their ideas. So A is critical of the ethics of B’s practices. B then acts in a personally scathing way towards A and tries to discredit him or her. That never really made sense to me. People often do that with Jenman, which i find a bit weird.
kay henry
kay henry
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December 23, 2003 - 8:30 am
Peter and Mel,
That’s a fairly dangerous spte though, don’t you think? It’s basically similar to buying OTP- with the hope of onselling. If the Bears is unable to flip it, he gets stuck with a property he thought was good for someone else, but not necessarily for him. Otherwise he wouldn’t be spotting for others, if he could afford it for himself, or wanted it etc. What if the spottees don’t go through with the purchase?
And speaking of that, what *would* in fact be the contractual obligation of a spottee towards a spotter? They would lose the spotting fee, but wsould there be any liability beyond that?
kay henry
kay henry
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@kay-henry
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December 23, 2003 - 8:23 am
I said:
“the eternal optimist usually”… well, that doesn’t quite make sense- he is either “eternally” an optimist or “usually” an optimist- he can’t be both! hehe. But y’all knew what I meant
kay henry
kay henry
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@kay-henry
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December 23, 2003 - 5:52 am
lazyboy,
Do you think there are many places for 60K that rent at 150pw these days? Actually, the 15% yield would be more like $180 a week. Seems a bit far fetched to be able to reach this new rule.
What happens if interest rates reach 15%? Will we be having the 30% rule? ie a 100k house that rents at $600 a week? Seems like a lot of improvements would be needed to gain such a yield.
kay henry
kay henry
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@kay-henry
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December 23, 2003 - 5:37 am
sis,
Given that you now have a property portfolio of about a million and a half bucks, have 11-13 IP’s, are 21, have been investing for a total of 9 months, and have only part-time work, I am sure that Australian Property Investment Magazine would love to profile you. They are always looking for successful investors.
kay henry
kay henry
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December 23, 2003 - 2:57 am
I think brokers are great too ) Mine helped me and my ex out when we had no clue what we were doing :o) I think forging relationships with people who help you out is incredibly important. For me, property investing is not just about money and finances- it’s also about building relationships []
kay henry
kay henry
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@kay-henry
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December 22, 2003 - 4:06 pm
Bearsy,
Seems Queenstown has made lots of capital gain! I think this is true for the cheapest places in Australia. Below is a pretty good article with lots of info
http://www.theaustralian.news.com.au/common/story_page/0,5744,8145794%255E25658,00.html
kay henry
kay henry
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December 22, 2003 - 1:58 pm
Well, as an Aussie myself, I am not sure that wayne and diclem speak for every aussie in their perspectives on Jenman. Just like the head of the ACCC, Samuels, is generally brought in to speak about unethical business dealings, so Jenman gets to speak about RE ethics- it is kind of his specialty after all…
Jenman is not an object of derision universally. The authors speak not for all aussies- but for themselves- just like I do.
kay henry
kay henry
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December 22, 2003 - 1:20 pm
Mark,
It depends on what yer looking for. Some banks won;t loan you money for less than 50sqm or they’ll ask for a whopping deposit. But 50sqm isn’t that tiny, really. In sydney, 50sqm can get you a one-bedder with a balcony!
Whilst there’s not much good to be said of these investments, there’s also not much good to be said of a shack in the outback for 30K but people are still buying them! It all depends on price, guarantee of rental income, possible finance and what you’re wanting- capital gain or income. You might get little of either in 2003 because the times are changing. But you’ll probably get a fairly new apartment in pretty good nick, and in a central location. Don’t write it off if it’s in your price range and the location is decent. There’s always students in cities who require accommodation.
kay henry
kay henry
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@kay-henry
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December 22, 2003 - 1:03 pm
**** gucci and beary sitting in a tree…****
hehe. Ashley- I love stupid questions- they’re the only ones I can answer! As for me- yes, I work full-time. I decided long ago, that I can only do what I want to do if I have an income to support it. Plus, my organisational skills are not the best and the buying and selling of properties does my head in sometimes in terms of paperwork, so I like the diversity of work in an office, and property investment for additional income. Frankly, doesn’t matter how much I made in property- I’d probably still work- work keeps me out of trouble [}]
The net means one can do all manner of property searching without leaving one’s chair much. Google.com is my best buddy when it comes to all things property. I am a researcher for a living so I feel pretty at ease with this sort of thing.
kay henry
kay henry
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@kay-henry
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December 22, 2003 - 4:26 am
That’s “brokers”, not borkers!
kay henry
kay henry
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December 22, 2003 - 4:26 am
Speaking of borkers, my financial provider just told me they won’t deal with brokers anymore. apparently, they’d been lied to by brokers- told the loan applicant was working when they weren’t etc. I thought brokers were the new way for people to get loans usefully (i used a broker myself before they were banned by my lender!). Seems some financial institutions are moving away from many things.
kay henry
kay henry
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December 22, 2003 - 4:20 am
sis,
Where did you purchase your IP’s? How have they doubled in value over 9 months?
As for me, no pozz IP’s, but 3 IP’s I am happy with ))
kay henry
kay henry
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December 21, 2003 - 9:18 am
*pats the rabbit* :o)
That seems like a good improvement, rabby. Guess I was just thinking that if one puts in a carport (extra $20 rent) plus aircon (extra $10 a week), plus cable (+$5 a week) plus plus plus! Guess if we do multiple “improvements” then the rent can get too big, no? They may just go to a place that has all those “features” to begin with.
kay henry
kay henry
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@kay-henry
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December 21, 2003 - 6:12 am
booboo,
Type in the name of the location into google.com (australia only site).
As in “real estate blah”. Or go to realestate.com.au and type in some of the general locations you’re thinking of. The latter site can be outdated, but it can let you see some of the RE’s in the area, and what kind of prices the blocks of units might be.
The rest is up to you, booboo!
kay henry
kay henry
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@kay-henry
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December 21, 2003 - 6:04 am
sis,
Bear and Bruce have differing opinions on where and how one finds deals, and the purpose of paying spotters’ fees. I’m sure we can respect that. You don’t need to speak for others about the way we read topics. If you are annoyed with Bruce, discuss *your* annoyance. As for me, I expect differing opinions on a forum such as this- it’s the “argy bargy” of discussoin that makes forums interesting- where each can add his/her opinoin, and the rest of us can check out the differing ideas. Without different ideas, this would be a pretty boring place.
Feel free to put your ideas on the board, and allow others the same opportunity.
Given that Bears and Bruce are both adults, presumably each can work out their differences logically, and we can all learn from the things they say- whether we agree with one or the other is irrelevant- it’s the opportunity for discussion that’s important.
kay henry
kay henry
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@kay-henry
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December 21, 2003 - 5:50 am
a house with no carport is like a fish without a bicycle []
I think these days, tenants have greater expectations. People would have to live fairly poorly to have no carport on a house, but I guess lots of sydney people park on the road. But sydneysiders will pay any amount for nothing at all really- lower than low expectations.
I figure rolf de roos is referring to the regional/country shacks with no carport. Seems, though, that a carport in those kind of places, is an essential. Living in the middle of nowhere must have some compensations. And country/regional rentals can only go up so much.
kay henry
kay henry
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December 21, 2003 - 5:39 am
(o_0) hehe
It may not be up to you. Some valuers for financial providers do drive-by valuations. Many though, would enter the premises. If they do so, I guess they’d be looking to see that the place is well cared-for, with no holes in the walls etc.
Valuations are basically done on past sales (minimum of 3 in the same location for the same amount of bedrooms etc) and on “market value” based upon land value etc.
You could pretty much find out the value of your place yourself if you ask your local friendly RE to do a “market appraisal” on your place- whihc will be free. Generally, they’ll check the Valuer General’s past sales, and chuck a figure onto a piece of paper for you. Market appraisals are often wildly ifferent to valuations because the RE wants your business so they can sell for you, so sometimes they can inflate the price.
Bank valuations can also be lower than you might hope for, as the bank acts conservatively so as not to give you inflated equity in the case of default.
You can find other info on valuing (valueing?) your place yourself from residex.com.au or the homepriceguide.com.au
kay henry