Forum Replies Created
Chequebook? What is that!
Thanks Ill painfully wipe the cob webs off my 2007 archives and try to locate proof!
Hi Spock,
Just to clarify: 4. Factor in current market sentiment- not sure what you mean by this?…Suburbs can go through quiet selling times. I dont generally know why, as the next month they may pick up. So sentiment at the time of offer is more around what are the other buyers doing/thinking? What are the agents thinking? If its quiet and rates just went up another .25pc you may be able to factor this into your final price.
Mat
Hi Spock,
Regarding getting laughed at. Id dig depper into this as a confident bid is effective. If you are not comfortable making an offer, does this mean you are not certain your offer is valid? ie do you have stats and data to support the offer you plan to make?By having this type of information, you can make your offer with confidence that it is fair and within reason.
Key data I use:
1. Recent sales in area for similar properties
2. Factor in condition of property
3. Factor in time it has been on the market
4. Factor in current market sentiment
5. Factor in the willingness of the vendor to sellThen if the sales guy laughs you have strong facts to support your offer.
1. Hold
2. If appears to be a trend, sell, otherwise hold.
3. Sell
4. Get another job, if not successful, sell.
5. Same as scenario 2. Its all about whether the numbers stack up.I apologise if this is a dumb question. Did you run a cable between your cassette headphone jack to the PC mike jack? If the quality is still bad, I dont think anyone else can do better. This type of recording should at least be 95% same quality.
This forum is a good place to start looking. How about you also find someone 50+ years old who has heard year after year that "property is more expensive than ever before, its harder for the young ones to get in".
I struggle to pitty those who claim its everyone elses fault that they cannot purchase property. If you really really want something, you can usually get out there and get it. It does take sacrifice.
Fair enough, as stated, it is my opinion. For me excel was easier and its all I would use again if I wanted to check.
I think this debate is touching on the question "whats your investment horizon?".
If you are buying property for the long term (ie 20 years). You need to certainly plan for ups and downs, but don't track your property as if it was a short term investment.
You can invest in both shares and properties. You can also trade in both shares and properties.
In both situations you can set your horizon to days, months, years and even decades.
Just ensure you manage you risk, monitoring, exit position to match the same horizon you orignially invested in.
Here are some qwerky things that went wrong with my investments. Note, all are minor.
1. Dont just check good water pressure, also ensure good lighting in each room (1 x room had no lights in it – inspection in the day and so did not notice!)
2. Has TV antenna and wall plug, but does not work. Cannot test it at inspection and can be a little exy to fix for tenant.
3. Comes with Air, has a unit in the wall, but no compressor outside to run it! It was brand new and claimed only need a sparky to connect the front unit and it would all work! Very exy as property was tenanted with "air". Had to purchase whole new unit!
4. Sloppy paintwork, used to cover defects in furnishings, such as bathtubs, sinks, etc. You just think its a paint spill, until you remove it… Nasty!All are minor but slowely eat away at that little profit you thought you made!
Good for you Pouncer. I wish I could retire! 10 years time maybe!
Great posts, interesting reading. Shame it took personal attacks and insults to get people tapping on the keyboard!
Ive noticed in the last few years PMs tend to prefer to lock in a new lease rather than go month by month. One key reason, kind of mentioned above, is the tenant can give relatively short notice to vacate, however you still must provide (4-8 weeks notice – depending on state). You cannot easily plan for a new tenant in 2 weeks.
This could be fun…
Okays reeco, not sure if this is what you are after. I vote for the following qualifying reasons:
a) Must be considered one of the worst 3 maintained houses on the street
b) Must be able to add an estimated $50k market value just through simple, non structural, repairs and reno
c) Must be walking distance to a train stationThat will do for my votes. Im assuming you can be hands on and DIY most repairs.
Good luck and have fun!
Hi Kim,
Facts speak louder. For every statement above about what you deliver, please provide the data. Post it here to show everyone how good your company is.You have a tough audience here, so if you are as good as you are confident, front up with the numbers in this post.
Regards,
I purchased the software when the hype was made about it on ACA. I was hoping it made it easy to load up the statements as thisis the time consuming part. In my opinion you are better off just doing the calc in excel.
The formulas are relatively simple to determine, I bet the forumers here could post several and then they just require minor adjustments to suite the banks T & Cs. eg 365 or 366 days in a year or 365.25, etc.
Hi Richard,
I emailed them at: [email protected]And their response was below. Which means "No" you cannot claim as an IP is considered a residential property.
Under the legislation of the grant an applicant for a first home owner
grant is ineligible if the applicant or the applicant’s spouse has
held a relevant interest in property before 1 July 2000. As you acquired
your investment property prior to the inception date of the scheme, 1
July 2000, you are ineligible to apply.
Should you wish to discuss this email please contact the office on 1300
130 624.
Thanks Richard, here is FHOG criteria for NSW from: http://www.osr.nsw.gov.au/benefits/first_home/general/eligibility/.
Basically you must not have owned a "residential property" pre 2000. I assume this also means IP. Which means if its in relation to NSW, you do not qualify.
Do you agree or is IP not included in "residential property"?
eg my first IP was purchased in 1997, and I only purchased my own place this year (renting ever since) so I dont think I qualify.
Thanks
MatFirst Home Owner Grant Scheme
FHOGS is available to people buying or building their first home and who meet the following eligibility criteria:
Each applicant is a natural person and not a company or trust.
At least one applicant is a permanent resident or Australian citizen.
Each applicant must be at least 18 years of age.
All applicants and/or their spouse/de facto have not owned a residential property, jointly, separately or with some other person, in any State or Territory of Australia before 1 July 2000.
All applicants and/or their spouse/de facto have not owned on or after 1 July 2000 a residential property and occupied that property jointly, separately or with some other person in any State or Territory of Australia for a continuous period of at least six months.
Each applicant has entered into a contract for the purchase of a home or signed a contract to build a home on or after 1 July 2000. In the case of an owner-builder, laying of the foundations commenced on or after 1 July 2000.
This is the first time an applicant and/or their spouse/de facto will receive a grant under the First Home Owner Grant Act 2000 in any State or Territory (unless subsequently repaid).
At least one applicant will occupy the home as their principal place of residence for a continuous period of at least six months, commencing within 12 months of settlement or construction of the home.
- View First Home Owner Grant Act 2000
Can you please provide more info? My first property was an IP and every time I have checked becuase of this I cannot use FHOG……
thanks,
Hi,
You should also consider you can land 8% in a term deposit (quite safe)… You should benchmark against this.Regards,
I found this site which is pretty good:
http://www.ratecity.com.au/savings-accounts/Sadly does not tell how it calculates the interest to pay. Note it was my bank manager who pointed out the issue of how interest is calculated that can have a huge impact the interest paid to you.
Hi Jaffasoft,
No, NAB calcs interest on daily balance and applies to the account at the end of the month.If you had $500 to start at the month and was contributing say $200 a week, NAB looks at the balance at the end of each day to accumlate interest (ie APR / 365 – or what ever their rule is). Then pays at the end of the month.
Now the other scenario I was talking about would mean you would only get interest on $500 for that entire month (ie lowest balance in the month), then paid at the end of the month.
You need to look at your saving habbit vs APR to see which works best.
Mat
Mat
