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kay henry
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February 3, 2004 - 4:19 am
yes brent- I agree. given that many of the forum’s members would have had free education (if they went to uni), it’s pretty much that they want the younger generation to now pay for theirs. I’ll pay taxes to fund public education and health (AND public housing) any day instead of funding weaponry.
kay henry
kay henry
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February 3, 2004 - 4:11 am
hmmm.. I could take that as double entendre Chan- I have no idea how to read it :+P But moni is great company = warm and lovely- and i am sure she’d love to meet you guys
kay henry
kay henry
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February 3, 2004 - 4:06 am
Pisces said:
“BTW, I am NOT looking for partners. It is hard enough having to cope with my wife putting her nose into
my affairs let alone the wives of other possible joint venture partners.”
Kill two birds with one stone Pisces- marry one of the guys from FiveDock.
Aren’t your affairs your wife’s affairs too? Or am i being old-fashioned here?
kay henry
kay henry
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February 2, 2004 - 1:30 pm
Well done Chan! Glad to see yhou got your money back :o)) It must be your shout next time huh? I might even bring monika along if you’re good )
kay henry
kay henry
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February 2, 2004 - 8:02 am
I think some of the replies relate to the tone of the original post. If someone had have asked about friends feeling alienated from people who have made $$$ through property, then I am sure we all might have been able to contribute stories about how we felt uncomfortable discussing buying or selling IP’s to friends/family who were not in the position to do so.
But sometimes we have to look at our own situation and how we might be contributing to our situations. And let’s face it… nouveau riche people can sometimes be fairly over the top about wealth. And the purchase of 23 properties in 2-3 years is a *lot* of new money! :o)
Sometimes it might not be about how much money we have, but the effect on us that our newfound wealth might have.
kay henry
kay henry
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February 1, 2004 - 3:07 pm
fitness,
Perhaps the fact that you tell a half-true story to some friends means that you lose them. Perhaps they don’t believe the part that is the half lie.
You said:
“I must admit that being almost ‘financially free’ will now lead to better friendships”
ummm… richer people make better friends? hehe- too funny :o)
fitness, I am a lesbian, who is into bdsm, and an anarchist who likes property… my friends accept and love me as I am, as do my family.
I think people like hanging around with people who are authentic and don’t tell them half truths. Then again, some friends are wankas, and probably need to be culled anyway :o)
kay henry
kay henry
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February 1, 2004 - 2:57 pm
Brandon,
The $5300 was in cash and was stolen from your unit?
If you are able to make rearrangements with your bank, you would have to have a police report to back up your claim. Actually, i have no idea if you could refinance, but i know the police report would have to be involved.
Were you insured? If so, you might be able to get an emergency payment, but I don’t think insurance coy’s insure for large amounts of cash- otherwise we might all be remembering we had a few thou that got lost during break-ins
Perhaps it is that you may kjust have to pay a daily penalty to the vendor until you get the money together again. I am sure if you have some kind of r’ship with the vendor of RE agent, they won’t mind if it’s a few days late, and if you pay the penalty for lateness, it’s not as if the vendor loses out anyway (unless they’re using your money to settle another place at the same time of your settlement.
Best to call your solicitor urgently and get that police report happening- noone is gonna believe you lost the cash unless you have the report number.
kay henry
kay henry
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February 1, 2004 - 2:45 pm
“lateral thinking” and “packaging” huh? Is that what you call it these days? hehe…
kay henry
kay henry
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February 1, 2004 - 2:41 pm
Really propertyprofile? 2 units for 175k in sydney?
hmmm…
kay henry
kay henry
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February 1, 2004 - 2:22 pm
230k for a 37m2 studio, plus 39k parking space? That’s sydney prices- very exxy.
One of the problems with these kind of apartments is that they become very much a “one-purpose” form of accommodation- basically, the International student market. Living in a 37sqm apartment with no car space? That’s a small market to target.
I think these apartments sound just like sydney apartments- they put in a few at the bottom end of the price range- 1 or 2 of the 230k ones, to attract the newer investor- but those ones are usually sold anyway, when one goes to inquire. The rest of the apartments are probably highly negatively geared.
kay henry
kay henry
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February 1, 2004 - 12:19 pm
veeeeerry funny, westan :o))
kay henry
kay henry
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February 1, 2004 - 8:26 am
Congratulations richmond!! 500 posts of your good info for all of us to read! Here’s a party hat for you to wear. [:o)]
kay henry
kay henry
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February 1, 2004 - 8:08 am
Yes richmond- but imagine how much knowledge he is gaining! hehe.
I keep trying to work out who it is by checking out when he/she is “replying to blah topic” but I still haven’t worked it out yet!!
(And how do you know it isn’t me, huh?)
kay henry
kay henry
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February 1, 2004 - 8:02 am
richmond,
I’ve said this elsewhere, and i know some people feel quite a rage when I discuss ethics, but, here is my situation, and I’m answering it because I was asked it.
I don’t deal with people who don’t know what their property is worth. I don’t “hard bagain’ with vendors at a disadvantage. I don’t look for people in trouble- debt, drought, divorce, “dumb” etc… and yes, I do try to give a vendor what their house is worth- if I can’t afford that, then I look elsewhere.
If some old dude who hadn’t left his house for years and didn’t know what his house was worth was asking some really sad small amount, then I think it would be my duty to give him what his house was *worth* (as opposed to what he was asking) or not deal with him at all- because I wouldn’t be able to sleep if I bought his house at such an undervalued price. I wouldn’t see that giving him extra money is some kind of weird thing to do- it’s just moving his bargaining power up to that of what other people might have- no big deal.
Now, folks… these are *my* ideas- and I know they might not relate to anyone else’s practices… but if I am asked a questoin, i’ll answer it. So please keep your vitriole to a minimum if you feel compelled to slag me off over this.
kay henry
kay henry
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February 1, 2004 - 5:58 am
I just saw the photos Mini sent me- Mini- you’ve made the properties very beautiful, I have to say. Those beautiful floorboards etc- why don’t they still make floorboards in houses? They are sooo beautiful!
Marc, Mini bought houses which were, at the beginning, untenantable. With 10k for renovations, she’s fixed the places up and made them eminently tenantable. Sure, these places didn’t have structural problems (restumping etc) but they did have major “cosmetic” problems (holes in walls, rusty baths, dysfunctional fireplae etc). So Mini did them up and fixed *all* of these things- putting in a new fireplace is going to make a house tenantable!
ini- I am wondering though- do you feel the places were undervalued when you bought them? Did you feel ok about giving the vendors such a low amount when you could see the potentional in the places? (I know that it’s been hard work for you and the tradesman etc- but if you thought the places were worth a lot more, did it bother you to give the vendor a lot less?)
kay henry
kay henry
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February 1, 2004 - 4:28 am
Jars,
Go ahead and buy your holiday house. don;t even think of it as being “negative geared”. That’s like saying when one has a wife or children that they are “negatively geared”. If we put a commodity price on everything, and wondered if it fitted into our plan, we’d never buy xmas gifts or new clothes.
Why are you feeling guilty about getting something enjoyable for yourself? We don’t live in the Depression- enjoy yourself!
kay henry
kay henry
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January 31, 2004 - 1:52 pm
Elysium said:
“If I stopped smoking my cuban cigars, drinking 25 year old single malts and buying champagne for the girls…”
My God, Elysium, that does sound decadent! How many girls do you buy champagne for?
sis and PG- you need to take some hints from this guy!! hehe
kay henry
kay henry
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January 31, 2004 - 1:42 pm
I don’t think people are looking for the MAP participants to fail. I just see this thread like any thread about a guru. I think the MAP publicity would have been a very clever marketing ploy for Steve- not that there’s anything wrong with that.
I just like a bit of democracy with my discussions. Some will praise, some will approach all property investing seminars etc more cautiously.
Steve’s an adult- i am sure he would welcome all perspectives. After all, most of us are sometimes asked to justify or explain what we say or think or do- I think that’s healthy. I am sure it’s nothing personal- just people seeking to have differing views on the same topic.
kay henry
kay henry
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January 31, 2004 - 1:10 pm
Mini- thanks for your offer!! :o) Email is:
[email protected]
Please don’t get me wrong, folks- an outhouse in certain parts of sydney would sell in sydney for 800k if it had “porcelain glimpses”. So I know dumps exist everywhere
But I do love discussions on the 50K houses. These are really the ones lots of people (me included probably) would like to be able to think about buying. But given the huge CG’s all over australia, what’s left for 50k???
Bears- reno’ed houses for 50k?? I’d have me a piece of that! (Actually, often I feel quite sad when people reno their houses and put such love into them, but the location determines the price so they might have overcapitalised :o(
kay henry
kay henry
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January 31, 2004 - 12:49 pm
Steve,
$1800 annually for BC fees with pool and gym? sounds fushy…
are the 230k properties studios or 1-bed? Do all units have car spaces? How come people would pay $400 for a studio/1 b’room apartment? Their wages must be much higher than ours- you would never get that rent smack bang in the middle of sydney for a small apartment- by the way- what size are they for the cheapest?
And the fact that it’s near to the University means little. 1-bed near new places right near USYD and UTS can still be rented out for $240 a week here.
kay henry