foundation wrote:
And no, even if mortgage rates fell to 5%, I would not be borrowing money to buy real estate…

If the property was pos geared, and you were looking to buy  and hold long term, why wouldn't you?If you could snare 5 properties that return a nett rent after all expenses of  even a pathetic $25 per week RIGHT NOW that's a p…[Read more]

Yeah; if I give you $1000 will you do it please?That's about all the work an agent does is worth, given their quals and training.For example; a nurses' aid (PSA) earns about $20 per hour. It's a 3 month course. Easy course, easy work. I did it for 3 years when my son was little. great benefits and penalty rates, salary packaging as well.I also did…[Read more]

wian wrote:

Scamp wrote:
yep , me too, positive about the sharemarkets in the future. Much more money to be made on shares than on property. Renting and investing is a much better option than buying a property. Why lose 50K a year and even more on capital losses, if you can make 100K a year with the same investment ?Doesn't make a lot of sense…[Read more]

Scamp wrote:

god_of_money wrote:
I am confused…. interest rates on the way down.. with prediction of some economist predict further cut next year…Used to be lots lots of bullish comments about investment when the interest rates reaching its peak…bla bla bla long term value…dividend yield 10% and rental price still on the way up…[Read more]

Sounds too good to be true.No doubt it is.There's no purchase price, no completion dates and I'm tipping the purchase price has already got the rental guarantee built into the price.Buyer beware.If this is so good, why are they selling it to us? They should buy the whole joint themselves.My guess is the real money is made by the developer on this…[Read more]

That offer to move back in with the parents and rent out the unit is a good one, as you can then claim all your holding costs from your unit on your tax return.Beware of the "cost" of doing this – moving into a house with your family AND your parents at the same time. This is to say the least; interesting. It may save you lots of money, but may be…[Read more]

Just bypass the agent and contact the Vendor directly.The agent will get pissed off, but who cares? He's not acting in the best interest of the Vendor.He might think he is by not passing on your low offer, but if no-one else is making offers, then yours is the best one they have got.In my State of Victoria, by Law the agent must pass on every…[Read more]

wealthyjvd wrote:
thanks, i just read something about a lady who had only 1 house at the age of 35 and now owns over 50, and shes nearly 40.how, with all teh debt… i wanted to know more about equity to fund these shortfalls.

She's probably bought a few blocks of cheap flats, and counts every flat as one property.Otherwise, I'd seriously…[Read more]

You can only claim the percentage of the expenses that relate to the holiday letting.So, if you let it for 48 weeks a year, you can claim 48 weeks worth.The other way to do it would be to treat yourselves as a normal guest, pay all the proper rental rates for the time you use it, and then claim the whole year's expenses.Management fees for these…[Read more]

SCAM

The agents will leave it on the website as long as possible to get exposure, and try to sell other properties off it.

ummester wrote:
johk – have you heard about all those people that are using their credit cards to pay increased interest rates? The banks solution is to give them more credit… gotta wonder exactly what the banks agenda is in all that. My point is that I would hate to see another Australian end up in that position.As someone suggested, why not…[Read more]

longterminvestor wrote:
Well said Scamp.  (your reasoning on why RBA should not decrease interest rates)Lets see if the RBA does what it needs to do or bows to political pressure.Lets see if the RBA further destroys the long term health of the nation by bowing to political pressure and reducing rates.I'll bet they go the wrong way, reduce rates…[Read more]

Scamp wrote:

Paul22M wrote:
I reckon we bring Scamp over to Australia and make him head of the RBA, or even prime minister

Who would want to be prime minister in Australia ? It's like wanting to be the president of the USA.Anyway, first thing any REAL prime minister does is cut the tax benefits on property investment as a whole. I know, it's…[Read more]

Answers in red below.

ummester wrote:
L.A. Aussie – owner occupiers are not 70% of the market. In an RBA report form 2003, which I have linked to elsewhere on this forum, owner occupiers were put between 40 & 45%. I doubt the figure has changed that much over the last 5 years. Oh you think? Ask every single person you know in your life if they…[Read more]

ummester wrote:
L.A AussieI am not slagging off your ideals, just presenting an alternate POV. Property Investment can be more than financial and I feel that in forgetting that investors have gotten the country into a dangerous financial state.Besides, I am learning things by being here. The obvious, but overlooked by me, buyers insurance that…[Read more]

ummester wrote:
For overall social balance being as rich as Gates or Norman is meant to be the privillage of a few. In all society, of course there will be rich and poor, but the majority should be in the middle. What the Boomers have done over the last decade isn't become rich (not like Gates or Norman) they have just seperated the middle…[Read more]

ummester wrote:
See how selfish your dreams are compared to mine? I want something for the country – you want something for yourself…Basically you are aware that property resources are finite and that BBs got to entre the market first. Pretend there are only 2 people in the market. Logically, any property more than 1 that a BB owns is 1 …[Read more]

Scamp, if Aus is so bad (as you keep describing to us) then why are you coming out here?Why don't you simply stay where you are in your wonderful country – whatever it is.It can't be too bad if you've done so well that you can come pout here and pay cash for one of our exhorbitantly priced houses.

blaze wrote:

L.A Aussie wrote:

crashy wrote:
I agree that there are those who walk the walk and those who only talk the talk. you have to admire those who have built a large portfolio and dont mind sharing how they did it.making money is easy. keeping it is the hard part.I talked to a guy who had $3m worth of property leading into the early…[Read more]