Forum Replies Created
The trouble with school and uni is they both teach every one the same thing for each subject.
There is very little scope for thinking outside the square. This would make it too hard to mark assignments and exams. The most important thing we can teach our children is how to think and asses the information they are presented with. Tradies, Plumbers and electricians are often faced with situations which aren't in the text books and require some ingenuity. Something that is lacking in many professionals. But it doesn't take a rocket scientist to figure that out.
At the end of the day, if you think the is somebody that you can not learn something from… You are wrong.Misty,
.723 is the radius squared!
It has been converted from mm to metres.
ie. it is 0.85 squared.Hope this is not too late.
I think the wealth score assesment page needs changing.
It even says well done when your score is -1480.
It should say OOOOPS! but if I change my PPOR to investment then I geuss things would be different.Yep just as I thought,
score is now 904..
Whew.
V8Ghia,
It is a RAMS francise. The person I am dealing with is the owner of the franchised store. I have no intention of tryind to run the guy down as he may be telling me the truth but the longer it goes on the harder this is to believe, even though I like to give everybody the benefit of the doubt.
I have since been in contact again with RAMS head office, and with the franchisors office manager. Whilst no body is yet willing to say he is lying about what has been said they are looking into it. The office manager who is employed by the guy handling my loan has offered to take over the handling of the application from him.
So I am still no closer to a resolution yet.
arghhh.
and yes this is the same subject as the other thread.
Since my last post on this thread, Progress has come crashing down.
Earthworks has started but docs for release of funds have not come from RAMS. I called RAMS to find out what was holding things up as my builder ws getting a bit anxious. They informed me no loan increase had been applied for. Called broker to find out what ws going on. He said he didn't know what they were talking about as he had all the correspondence for loan approval and the builders insurance certificate etc. had all been sent to RAMS. Meanwhile the builder has stopped work and I am left in limbo not knowing for certain wether my constuction is financed or not.
Does anyone know a good mortgage broker in WA so this doesn't happen again??
Thanks.
reeco,
how much does a univestity degree cost??
How much did your primary and secondary education cost?
Twelve months of education costs alot of money.
Would you be prepared to spend 5,000 on a car?
That is garaunteed to loose money no matter how much work you put in.
And you may even borrow money to buy that car.I haven't done the course and I am not employed by propertyinvesting.com… but I would do the course except my partner doesn't see the value in these courses.
BUt if you do go ahead with the course… make sure you see it through and use as much of it as possible.
Good luck.
Mark.
G'day AO,
Here in the west most houses are of double brick construction.
Why?I don't really know.
They cost more to build, hold more heat, take longer to cool down but are generally quieter on the inside.
Newer double brick houses tend to crack in the early years as the foundations settle but these cracks are not usually a problem.
In WA it is easier, in the city areas anyway, to sell a bouble brick house and you generally get a better price for a double brick house. Not sure if this is the way it works in other states.
Hope this helps a bit.
Good luck.
Mark.
Thanks all,
I have now had approval and am waiting for the mortgage broker to send the docs to my builder.
Hopefully the house will be finished by Easter.
Thanks again,
Mark
Thankyou all for your comments,
I am still waiting and have been requested to now provide further financial details.
This is very frustrating as the approval previously given was not that much less than what we are asking for now and well within what we were told we could borrow.
The verbal approval I spoke of previously was the broker telling me that RAMS had approved the loan and were drawing up the paperwork. When advised of the increase in costs of the earthworks he said no worries, just need to put the new amount into the docs. Now he says the mortgage insurer wants new financial details.
oh and by the way the broker is a RAMS franchisee
aaarrrrrg
Hi Linda,
I am with rams at the moment, We brought a block using one of their brokers and the only problem we had was the mortgage insurer took longer than anticipated. We have now applied for a construction loan using the same broker and RAMS and have had the same problem which has now been blamed on the end of the financial year. Originally (for the block) it was blamed on the length of time between finance pre approval and title release (about 15 months late) and the change in valuation.
I can understand all of these problems but the one thing I do not understand is why I had to continually call the broker to find these things out?Have you thought of doing a wrap with your brother?
Regards,
MarkHi Kerry,
I have a friend who has an appartment as an investment property on a golf course in WA. He has not had any problems with tennants or finding tennants and as he is the owner, it includes membership to the world class golf course.
He plays golf every morning in the summer and sees no pitfalls in the property being on the golf course.regards,
MarkHi Vanessa,
Ask your financial advisor if he/she has made as much money as Rob Kiyosaki. Then decide who's advice you would tend to follow in this area.
Good luck.
Mark
I think you will find that both Steve and Hans both started their investment strategies after a SEMINAR from Rob Kiyosaki.
At the end of the day it boils down to putting stategies into place that you gleen from the course.
If you are not prepared to act on the stategies then there is no point in spending the money or in other words if you spend the money on the course, make sure you implement at least one of the stategies you obtain.Hi Linda,
I am pretty sure that so long as your sister has some income (ie family payment) she can have her name on the loan and thus they will be eligable for the FHOG. I did this with my wife about 13 years ago and it worked out fine. The best way to find out for sure is to speak to a mortgage broker as they will help as much as they can to get your sister finance.
Hope this works out for your sister.
Regards,
Mark
Hi Julius,
I am not sure how this works where you are but I have heard of caravan sites in WA will not allow you to rent out the caravans.
All the best.
Mark
My guess is she is embarrased at not realy making money on her investment except for the capital gain and wanted to look like a switched on investment guru. (Who knows, maybe she is) But at the end of the day she probably is making money hand over fist with the CG.
Hi queengucci,
Like Carl I work in the mining industry in Perth and what is happening in this industry does not seem like slowing down in the near future. Fortunately it is not only reliant on the local market but there is a lot of engineering being done here for overseas companies. Also the there is a lot of things happening in the oil and gas market as well.
As for the increase of land which is supposedly going to be made available… Most new releases are at the moment about 12 months behind their original release dates. This means that there is a twelve month backlog to catch up on before there can be a glut.
As a result I don’t think we will see a burst bubble to the extent of what appears to be happening in Sydney but perhaps a slowing in the increase.
But on that note. may as well turn the positive growth of your negatively geared properties into some positive cashflow.
Whatever you decide I sincerely hope it goes extremely well for you.
Mark
Hi Cafall,
I live in WA and am astounded at how the Perth property prices have caught up to and now surpassed the other capital Cities in Australia. This is due mainly to the current resources boom (Global) and the extreme shortage of labour.
I work in an engineering firm in Perth, and looking at the work currently on the books for major International companies and knowing that most other large engineering firms out there are experiencing the same, I do not see the trend slowing down too much in the near future. Despite the interest rate rises.
What will happen, I believe, and what is beginning to happen, is rents are starting an upward trend to catch up with the housing prices. This will only escalate as the interest rates increase and home owners on the verge of not being able to afford their repayments re-enter the rental world.
So I may not have answered your question directly but hopefully I have given you a little insight as to what is happening in the local market at the moment to help you decide what to do.
Bare in mind this is only my opinion and I could be wrong.
Hi Cafall,
I live in WA and am astounded at how the Perth property prices have caught up to and now surpassed the other capital Cities in Australia. This is due mainly to the current resources boom (Global) and the extreme shortage of labour.
I work in an engineering firm in Perth, and looking at the work currently on the books for major International companies and knowing that most other large engineering firms out there are experiencing the same, I do not see the trend slowing down too much in the near future. Despite the interest rate rises.
What will happen, I believe, and what is beginning to happen, is rents are starting an upward trend to catch up with the housing prices. This will only escalate as the interest rates increase and home owners on the verge of not being able to afford their repayments re-enter the rental world.
So I may not have answered your question directly but hopefully I have given you a little insight as to what is happening in the local market at the moment to help you decide what to do.
Bare in mind this is only my opinion and I could be wrong.
Yes, but I haven’t sold the property yet and I wouldn’t considder selling it at the moment. Not until all the original blcks have been sold by the agent as I am sure they are worth more than what he is asking.
Originally posted by DanielCummins:I assume though, that the cost out of your own pocket to finance the loan throughout that settlement period should be factored into profits?
