my call:The bottom has passed.A flat period will ensue with a few up and down blips on the radar thanks to media sensationalsim.The prediction is a slow start and then steady growth starting in 2 yearsThen a period of wise direction and decisions due to the recent memory of this crash. America will be treated like the greedy teenager it is.Europes…[Read more]

"I was watching an american economist on the business channel the other night who said that modern capitalism was now fundamentally changed – for good. Easy credit is over and with it so too will be societies based on consumption." I hope so too ummeister …  Paying for other peoples consumer bought credit is bad for everyone concerned.We need a…[Read more]

As terry and others have said , "crunch numbers"I'm in similar spot…. some loans locked for 2 years at just under 8%   I think rates will drop downto a low early mid next year for a short few months  and then gradually come back up …   I doubt I will save much more than break costs in the two year period  remaining even if I picked the bott…[Read more]

interesting thread. I still can't believe that the entire world economy is falling due to the credit binge in the US. Surely this wasn't the only foundation for modern civilization. Neither do I understand the solution offered by the governments of the world: ..  ..that the way to improve things is print heaps of cash and throw it at the…[Read more]

A lot of financial advisors are not cheap – they charge nothing.   These amazing individuals will take you into their office and seem like the best friend you ever had, then they will give you a few options with some amazing graphs of the returns you will make, because the last 3 years they have done well.   What a wonderful world investing is,…[Read more]

Are you serious???    You wan't to borrow at 20 something per cent on a compounding interest credit line to start a property portfolio?   You would be wiser to throw all your money and clothes you own into a river and then sticking drugs into a boogie board bag while travelling Overseas –         at least this way you have half a chance.   …[Read more]

mecu traditionally very conservative with high loan interest rates. Sometimes they do weird things like with their car loans, they will require many conditions on your ownership of the car. like the insurance must be up to their satisfaction whereas every other bank would simply lend based on your income. – so watch out for pain in the ass fine…[Read more]

as a sparky,  an apprentice is taught on day one, to always test any wires before touching them.   This is all you have to do to avoid a boot….. basically trust no-one except your tester . – (and always test the tester itself before and after testing).   Never rely on somebody else who has said " it's off", even if it is the supervising spark…[Read more]

In Vic, You must give 120 days notice to vacate if you have no reason to evict, and this must fall on a date after the lease expires. So to have access in June, you'd have to give notice 4 months earlier. The rights of the tenant to live in house are very well protected by law, doesn't matter that it is your house.    …if it is a single m…[Read more]

you have to make a decisive action at some point.

procrastination will only delay your rewards.

In my experience, jumping in before you feel ready results in only one real result……………. real life correction and the best education available.

…hey, you will never know it all. But in time you will regret not taking action earlier. This…[Read more]

lock them in the cellar….. problem solved!

cant name banks, it is like swearing or kicking grannies when they fall over cracks in the pavement that they wrote a letter to council complaining 2 weeks ago.

Socially unacceptable, PC and all that jazz.

I spit at them, (although I will take their money)

John
What is the maximum LVR on the reverse mortgages you refer to.

I’ve heard they are a pitiful 20% or something?

Live, Learn and Grow

Lifexperience

hi terry,
Have you seen what investors direct are doing, what do you think?

http://www.cashflowmortgage.com.au/cash_flow.html

It looks like they will continue to capitalise interest past the limit and even if the house drops in value!

arrowsmith, ctaing
You guys are wise to weigh up the pros and cons, risk and benefits of an investment and the alternatives.

I hope that I didn’t mis-represent property for newcomers. It is not difficult, you buy a desirable residence in a good location, and keep it. As long as people want to live in it, you will make money!

Some of the more…[Read more]

i think you may be talking about Investors Direct.

This particular product can be a dangerous if the property does not appreciate at a good constant rate as you can actually end up owing more money than what the property is worth….

I have a few investment properties and rent.
In Melbourne Rental is about 3% in a lot of nice areas, so you are getting somewhere cheap to live.

(If I was living in an area with a rental yield of say 7%, I’d definately buy as it would cost the same.)

I think of it as finding the cheapest way to live, and then putting maximum cash towards…[Read more]

Best of luck to all of you battling through tough emotional and financial times. Chin up and know it can only get better.

I understand that property investing can become difficult for the partner who has to pay child support. Any positive geared profits must be paid to spouse and Any negative geared losses are COUNTED AS INCOME and some of this…[Read more]

restumping, rewiring and other structural repairs rarely add any value to a house.

Cosmetic improvements do, like painting.

I agree that you are better off doing a minor makeover with tile paint and new door handles than magor structural works.

I would only consider an extra bedroom if it could be done by changing existing internal walls or the…[Read more]

Quote

“The single piece of advice I can give you is to leave your wallet at home and not make any decisions on the night regardless of the hype and promises they might offer.”

My god simon, you’ll put millionairres out of business!!!!