Forum Replies Created
What idiot pays $200 for a haircut…other than John Edwards? (running for US President – he paid $400)
I like the KMart clippers, myself.
diclem wrote:Phorsha,
I would gladly pay an IT professional $88 to come out to my house and remove a virus from my system. In fact, I would be happy to pay more. Even if it took them two minutes…. if its something I can't do myself, I would happily pay a professional to do it for me.Have to agree there;
I had a tech come out to look at my computer a few months ago. His fee was $60 per hour.
He was here for 1 hour and 15 mins; $120. Did a great job.
He was running 20 mins late, and rang me to tell me so half an hour ahead.
But; there was no "call out fee". His travel time was his problem. I guess it was built into the 15 mins that he charged me $60 for.
The difference was there was no ambiguity about price; it was what it was, and there was no hidden anything. Bang; job done.This is a very aggressive finance startegy.
The problem with LVR levels like this is while it allows you to enter the market earlier as you need less deposit, it leaves you very exposed should something happen that requires you to have to sell the house in a hurry for any reason; such as job loss, illness, car accidents etc.
The other problem is that you will have higher repayments due to the bigger loan, and this also adds to the financial equation. This impacts on your ability to decrease debt, which you should ALWAYS be doing on ANY debt; consumer or investment – in my opinion.
Life happens and don't think it can't happen to you. It happens all the time, and the people who do their dough are the ones who are highly leveraged with no cash or equity reserves to save them.
You can get other loans that don't lock your equity in that property such as LOC's, or offsets with re-draws etc, so don't be frightened to build up as much as equity as fast as you can.
You can always use it later, but I would like to see you start off at a safer level of exposure.
Lower the price.
Have you had it valued by a Bank valuer?
At $155 per week rent, in a small town, not many investors will want it. You can get as good a rent return in the city, and pay not a huge amount more, and get better cap growth.
Here's one I just saw there; under contract, so there are buyers in Oberon. Took me 5 sec to find it:
Reneeshen wrote:just branching off a bit from the topic….has anyone been to the tony robbins upw, wealth mastery or date with destiny programs? And if so, what is your opinion on his programs as empowernet works alongside the tony robbins companies.
Thanks
Save the dough and read few investment books and work on your own motivation.
Just wait 12 months until it is obsolete and buy it for a song at a sale, or on ebay when the sheep have to upgrade to the next new doodad that hits the market.
zbfairlane wrote:An old topic I would love to revive. How about some of you guys with appreciating assets from three years ago. Have you Improved your ride yet??1968 Ford Fairlane $600 in 95, $16000 in 07 after $10k restoration. Very fuel efficient at 12mpg! The height of luxury as far as I am concerned.
No; still got the same cars.
1998 SSangyong MUSSO 4wd,
2001 Hyundai Accent.
Also have a 1996 Honda Accord while over here; will be selling that in another month or two before we head back home in April.When they die; then I'll get something.
I'm thinking about trading in the Hyundai for a 4 door oversized ute to carry around the reno stuff and still be able to drive the family around in clean and comfort.
It'll be second hand for sure.
It hasn't been mentioned on Neil Jenman's site, so I guess not.
He'd be right onto it.
I would guess that there is no cap growth on the site and minimal depreciation on the caravan, so what's left?
Only the rent, and the tax deductions.
If the rent is not better than an ING account (7%) after the fees and holding costs are deducted, then why bother?
Tenants can be a headache, whereas the ING account is simple.
Phorsha,
Unfortunately; your attitude has a big impact on their work ethic in a lot of cases. Even worse; sometimes you can be as nice as pie (as I always start off being with them) and they still dud you.
This, of course, is very unprofessional, and is one of the reasons why this thread even started in the first place.
It's endemic in the (building trades) industry, and when you call them on it, as we've done here on this site a few times, they get all aggressive and attack you. Call us all whingers, ungrateful, etc.
Just watch; I'll cop about 6 hate posts from this one.
Phorsha wrote:diclem wrote:
And i don’t think they can 'sense' my attitude because there isn’t one until they leave and i pay the bill. Having an attitude wont make them work any better or faster.Don't know if they are Aus wide; we used them a couple of times on the Mornington Peninsula in Vic a few years ago.
try the Yelow Pages, the White Pages,here's the google;
http://www.greyarmy.com.au/contactus.nbmerryc wrote:Oh yes, there's real electricity in the air now. Perhaps the idea of a web page with quotes is just a pipe dream after all. . .yeah; I think this thread has gone down the drain.
If in doubt; don't buy it.
There's a million more houses for sale today.Just because it's potentially dangerous, doesn't stop people from living near them if the properties are cheap.
Look how many people smoke for god's sake.
Surely the entire roof doesn't need replacing?
If it's tin sheets, there must be a good number of them that are still ok – just get the offending ones ripped out and replaced.
Someone like "The Grey Army" could do that job, or a local handyman.
Doesn't need to be a plumber. You could do it yourself Swany. Great fun.
homesite wrote:To Whom this may concern
I am very interested in sell my lots overseas. I am looking for Real Estate agents overseas to sell our land in The USA. Our land is located on the West Coast of Florida and is ready to build lots with water, sewer and paved roads. I own over 200 lots in this area and will offer financing with 35% down at 4.9% interest for 4 years. Amortization would be 4 years. I will discount price for cash transactions. I can offer you any commission compensation you like, but would need to raise the purchase prices to pay for the commission.
I can also offer you the same web site with a new URL name with your contact info for your customers to view.Prices in this area were much higher 2 years ago before the market declined in the USA. I feel the market will start to improve and prices will begin to go back up this year. Please keep in mind that I will be raising prices as the market improves.
…edited by admin to remove contact details as this post breaches the advertising rules of the forum…
Scott Rand
Thanks Scott;
just before you raise the prices, can you let us know so we can buy them cheap. Ta.
Actually folks; I think the market will not be recovering as soon as Scott predicts; it's still going down from what I hear.
Do your own research.If you have sufficient funds to keep you going with the repayments and the renos for 6 months until you can rent it out, then that may be the go and get the FHOG.
The renos are tax deductible, but I think they might be classed as improvements, so are therfore depreciable rather than normal repairs and maintenance expenses. Talk to your accountant on that one.
After you move out, the property can be used as an IP for upt o 6 years before it becomes liable for any cap gains tax, and it is pro-rated from then on, so no big deal.
I think that the recent good growth around the Country is largely due to the (still) relatively cheap finance, the easy access to it, the continued good employment figures and buyer sentiment, and the fact that the supply is being outsrtipped by the demand.
I don't believe that investors have had much of an impact, or ever do; in any given period the percentage of investors in the buying market is only ever around 20-30%? of the market, and they will be trying to buy low; not buy on emotion and push the prices up. Also, add to the fact the crap rental yields, and my guess is the investors are not around in a big way; certainly not Aus investors.
If the rates continue to rise, and if the living expenses go up as per the article in The Herald Sun:
http://www.news.com.au/heraldsun/story/0,21985,23008609-661,00.html
I suspect the amount of Owner/Occupier buyers will drop off, so the rents will remain under pressure, forcing them up and attracting the investors back. But as I said; they are the minority; especially while the stock market is going well.My guess is a slow-down late this year for maybe a year or two. Could be a good time to be an investor with the rents going up.
Watch out for a number of properties going on the market due to the rising interest rates with the very highly geared folk out there.
At the end of the day, we have more people wanting houses than can be supplied apparently, so any slow-down would be soft, and there are always areas that defy the the trend.
Based on your last post, I wouldn't be too worried; 9 months of no tenants won't happen.
As Terry said; the emergency fund is the thing; you have the $50k and your wage, so no worries.
But I would be looking at some serious debt reduction (I reckon this is a given anyway; no matter how you are travelling).
No one ever went broke making a profit (apparently).
If all 3 properties became empty at the same time (although unlikley, this can and does happen), how long could you cover the loan repayments before you went broke?
Or, worse; how long if even one property was vacant?
That's how you need to evaluate it.
You have no available equity or redraw to service the loans if your income won't cover the payments; there is no wiggle room there in case of a lack of cashlfow.
Terryw wrote:Yes, it is not easy. You will need to find someone willing to lend you the deposit, or the seller owner willing to lend you the deposit.I have received an email from a developer trying to offload apartments whereby he will pay stamp duty, and lend the deposit. You can email me if you want his details.
Interesting.
When you say; "offload" I'm assuming they are under-market price for existing comparables, or just normal developer's loaded price, but with a Vendor finance?
