Now you know I believe in ethical behaviour as much as the next person ;O) I guess I just felt that this was a plant to put down a competitor of this website. I’ve seen a number of people make what appear to be light questionings of other people in the property market, and I personally think it’s a ploy to destroy credibility of the person- not merely an ethical dilemma that a person might have…
As you yourself are aware, whenever someone questions the ethics of Steve, for example, they are called “negative”, a “tirekicker”, pulling down a “tall poppy” etc… So I guess I just feel that what is good for the goose is good for the gander. I get suspicious and wonder what the person’s agenda is. I wonder why their post might not be edited or why a moderator might allow it- call me funny, but I relish consistency…
My oroginal post to you was not about mailboxes… it was about why you were trying to publicly humiliate someone… The mailbox/suite thing is not the issue for me- it’s about why you are hammering an issue and trying to denigrate someone. I think the obsessiveness with which you are pursuing this is kind of weird. Do you have some personal issue with rick otton?
true Matt- very true. I could not have bought more than one easily except that i got a surprising capital gain on my first. Most of us who bought more than a few years ago would have done pretty well now. I’m wondering how much prices would go up again in another cycle- seems wages aren’t going up as much as property- eek!
Thanks for getting me out of that weird obsessive thing happening elsewhere
It’s a slightly different postal address, and there is no suite mentioned, although there is on another site of his.
Now you have the numbers there, why don’t you call him and ask him? This isn’t even his site, and the guy barely posts here. why don’t you just contact him and ask him, and maybe then you’ll get the answer that seems so important to you.
If you can’t see what’s wrong with this, then it’s probably unlikely that it could be explained to you. It’s just one of those things that most people know.
Rugby, yeah, i thought that was weird also. Anyone have ideas on how they do this? I think for OTP apartments in Melbourne, there is no stamp duty… but no CGT?? weird…
If you buy 3 more properties, you still have to pay about 165k back. what happens if you don’t have tenants during the repayment period?
I am intending on cutting down on my debt somewhat (even though my LVR is less than 70%) because my debt is more than 5 times my wage and I’m getting a bit worried about it. Halving my debt and then having more choices to make about my next purchase will make me feel a bit more relaxed.
debt up the wazoo is not a perfectly comfortable place for some.
What do people think? Are you comfortable with your debt levels?
Richmastery- Sugars and Jones’ baby? Aren’t they the “drought, death, dumb” etc guys? No wonder the properties are so undevalued… to get such undervalued prices, you have to be pretty ruthless.
Sell at a fair price, buy at a fair price and sleep fairly well, I reckon.
Ghoti :o))) Thanks for all that excellent info. 34-35sq units- oh dear [] and for nearly 200k- it’s a big call, I think.
Re the RTA lease- an individual might get $30-40 a week for a car space, I guess. In the block where I live, undercover secure car spaces are being rented for $20 a week, in chippendale. So it doesn;t seem like it might be much of an income.
Ghoti, here’s something I got sent in the email this morning- sounds like a much better deal. Waddya think?
POSITIVE CASH FLOW
From $150,000 with rental return of $250
Off the plan in rising market, best capital growth potential completion
18 mths
Developer pays for deposit bond
No stamp duty
No capital gains tax
Very funky development
Population growing at 110 people per day
Call Sydney One realty to find out more
Renee Robertshaw 0414 659 433
If you don’t sell, doesn’t some of your borrowing capacity dry up eventually, unless you have huge equity (I don’t), and a huge income (I don’t).
I am fairly highly geared right now (not in terms of LVR, but in terms of high repayments or capacity to pay). I don’t use tenants to merely pay off my places- their rent goes straight into the mortgage, so effectively, I pay double per week on the mortgage. I won’t be able to buy again for the next 4 years if I don’t rearrange my finance.
I wasjust wondering do young people still use chequebooks- that’s all :o) Noone my age that I know uses one. Just checking out how others live. Reread my post- I didn’t say if you have a chequebook, you are 70…
That’s all good, but people were asking about HECS, And in fact, there is anecdotal evidence that lenders are reluctant to lend to people with HECS debt for mortgages. It’s kind of relevant.
And some of us are not millionaires and probably never will be. There’s space for all of us here.
“I didn’t inform the landlord, just did it! What I did was rent a few bedrooms out at a higher rent, an I paid nothing at all, because the other people’s rent cover the lot. Just becasreful the others don’t find out how much you are paying.”
I’m really trying to understand your perspective here. How does lying to your (equal) flatmates, and making them pay rents so you have to pay none, seem “ethical” to you? I always thought “ethics” was a proactive term that meant acts of kindness, and doing the right thing. Whilst I know you don’t want to think you did the wrong thing, I am not sure how you can tag this sort of practice as “ethical” behaviour, like as if it’s some kind of social work.