Rob,
Was that 100% finance for $500000 shares with no strings attached?

Scary indeed.

Live, Learn and Grow

Lifexperience

Yeah good thanks rob…..although these scotches are making me sleepy.

3am and g’nite all.

Live, Learn and Grow

Lifexperience

Hi Snowgum.

If you are using 20% cash deposit (are you?). Then you are using $83,600 + $20,900(closing costs).

total $104,500 CASH IN.

So at say 70% vacancies, you are looking at an income of:
70% * $120 * 5 * 52 = $21840 p.a.
Expenses of:
$9500 + $21736($334400loan @ 6.5% IO) = $31236pa

$9396pa loss per annum. Before tax refund
True loss at…[Read more]

Hi rob,
I haven’t seen you post on the forums for a while, good to see you back….

you said

“I do not consider equity as cash until I sell and the funds are in my account. The new purchase is funded by your initial cash outlay so why would you calculate a new and seperate CoCR? It might be a technicality but I call this an opportunity cost…[Read more]

In my experience,

you would probably get a “purchase subject to major structural defects” expiry within 14 days from offer.

I have found you have to be really lucky/smooth to get a “subject to purchasers satisfaction of building inspection report”

Very Big difference!!!!!!!!!!

It is also very unusual (smooth), to get vendor to make repairs…[Read more]

Any equity (up to 80% of that property’s value) used to purchase another property could easily be converted to cash by use of a LOC.
So while literally not a CoCR, If you are aware of it, I would treat it as cash anyway when calculating the return you’d get from a deal.

When first building a portfolio, i am really noticing how long it takes to…[Read more]

oh, and my electricity bills for a 3 bedroom house with students was $1200 for 3 months over winter.

I also made the mistake of living two hours away from the properties………i lost a lot of time and money travelling.

Live, Learn and Grow

Lifexperience

Be careful. If you rent more than 3 bedrooms in a property, then you become a “rooming house”, under the residential tenancies act (victoria anyway) and a whole heap of extra rules.

Also I know in some areas, that if you have more than 4 people living in the house than you come under a new set of council conditions called “prescribed…[Read more]

hello, hello.
It is a very overall perspective taken when you attempt to comprehend the effect of one generation on the next (or previous) in our country or even on the world scale….humbling as you consider that you are but drop in the ocean as to the continuance of mankind.

Personally I view other generations as acting as a matter of…[Read more]

lol. ok, ok, I’ll stop stirring……………………………………………………………………………….for now.

…….D.Y.H.I.W. you are just about to leave work, packed up and out of your overalls….. and the plant breaks down!!

And you have to spend the next 5 hours working back to fix a problem caused by someone elses…[Read more]

Crashy,
allow me to enlighten you as to why the posts made were not just humurous but have a lot of merit.

You wrote
“Get rostered on to work Christmas Eve, Christms Day, Boxing Day, New Years Eve and New Years Day.”

Crashy, I don’t mean to rain on your righteous parade, or to even suggest that you may have misinterpreted the comments made.…[Read more]

scremin…….lol

jhopper….. I also drive slowly in the right hand lane..sometimes deliberately…..sometimes I just don’t notice or care.

I sure as heck have never been booked for going slow…..and will continue to do so.

I much prefer other drivers being frustrated……it keeps me calm and everything in perspective.

try it, you might…[Read more]

council rates valuation is my guess…the lower they think it’s worth, the better you are off as you will pay less rates and stuff.

Live, Learn and Grow

Lifexperience

Crashy,
I will be sending you a sense of humour for christmas.Free.

Live, Learn and Grow

Lifexperience

Thanks heaps foston

Live, Learn and Grow

Lifexperience

Don’t forget to factor in the $7-12 k FHOG.

You will have to pay Mortgage Insurance over 80%.

I doubt that you will be able to include the car loan in the mortgage amount …this would normally only happen if you had equity available.

I think maybe St George still lend 95% – 105% of the value of the property.

Get in touch with one of the…[Read more]

I know that feeling Spanky….

……..like when you are makin” luuurve to your partner and accidentally ring your mum without knowing…..”oh, baby, oh baby, oooooh babeeeee…”

ouch!

Live, Learn and Grow

Lifexperience

I am also considering restoring a roof (well, paying someone to do it). Has anybody got rough prices for restore-a-roof or any other mob that do this.?

What do you guys think of this as a way to increase value, I think that it may help to make an initial impression on a buyer if the roof is looking good………or would people suggest that money…[Read more]

In Excell, use the PMT function

PMT =(rate,Nper,Pv,Fv,type)
rate = interest rate / payments for year
Nper = total number of repayments for life of loan
Pv = Loan amount value
Fv = Future Value
type = logic value, pay at end of loan = 0, beginning = 1

So, if you had a 6.5%, $100000 loan paid monthly and interest calculated monthly over 25 years…[Read more]

…….yeah, ok wise guy………..

…Everybody knows that the only way to travel, if you are a polar bear is with “The Down South travel company” …..

At the north pole, there is only one way to go baby………….Down South.

[baaa]

{backpaddles furiosly up stream)

[suave]

Live, Learn and Grow

Lifexperience