Forum Replies Created
Yep, sure do LuckyPhil.
My Dad is doing some work in the AFP’s property office at the moment – that’s where all the lost/stolen property ends up. He’s found some amazing stuff there.
He said a couple of days ago that all the rocks and other stuff (flying implements and things) that they collected to do with that inquiry were still in the office – it’s really quite sad.
A female (couldn’t say lady about this one!) that I worked with at the time was in a boat on the lake, and they had to jump into the water to get out of the way of some of the debris.
Thanks for the encouragement Sue, but I’m afraid my early life was fairly unexciting, except that I didn’t listen to my parents, and got sunburnt (very fair skin) and got blisters, and then got sunburnt on the blisters, and poor Mum got in so much strife from the Dr for not keeping me out of the sun, and I’ve got the freckles to show for it!! I also managed to knock myself unconscious a couple of times (one time Mum reckoned I stood on the back of a cane chair, and pulled the iron onto my head, but I don’t believe her – I am MUCH too intelligent to do that[
]), and another time I rode my BMX (did I mention i was a tomboy?) down a curb whilst holding a tennsi ball, so not a very good grip. I think I whacked my head on the kerb (HOW do you spell it?). About 7 hours waiting at the hospital – my poor folks, at least I slept through it!Hmmm, so much for not going into my life story[}
]Cheers
MelHi Kay
Selling four legged dogs[
]. Nope, would never do that. In fact, I’m trying to have enough money to buy a farm so I can live there with lots and lots of dogs[]We have not come across any ‘serviceability’ problems as yet. Our main problem with the banks has been we have hit their ‘lending limit’ ie the $1 Mil mark or somewhere close.
Thus far we have and will continue to alleviate this by having several different banks that we have a couple or few loans with, and be able to go see them to ‘play them off’ against each other.
I have also ‘gotten wiser’ and have set up a family trust. My aim here is to have as the Directors some family members who have a payslip, and not much debt. Thus, they ‘qualify’ for the loan, and as any new properties will be cash positive or neutral at worst, there will not be any ‘out of pocket’ expenses for them.
I also have done two joint ventures, one with my Uncle, and one with my brother, where I found, negotiated, and secured the deal, and put up half the deposit, and they used their payslips to get the loan, and are the only ones on title.
As for lending money on an average wage, I’m not sure what average is these days, but mine is around $50K, and my personal liabilities are just over $2 Mil, so there are banks that will lend to you.[
]Cheers
MelBill, I can’t believe you of all people have jumped in on this post. I rated you so much more highly than that[
]. And I don’t care about your excuses that you may be related to LuckyPhil and have had some secret dealings with Shaun – it’s just not on!![] LOLHi Westan, apology accepted but not necessary (although LuckyPhil does look after me well[
])I sort of ‘fell’ into the property game when I was 19, and my grandparents were splitting (after 51 years – unbelievable, but I digress). Grandma was in a nursing home, and I didn’t want them to have to sell their little townhouse, so I asked if I could buy Grandad’s share. At about the same time I attended a seminar where Jan Somers presented, and got two tier marketed by the company that brought her to Canberra.
As a result of negative equity, and complete lack of knowledge, it took me another 5 years til I was talking to a bank manager who told me that I could easily borrow another couple of hundred thousand. So I told him ‘I’ll be back’ and managed to buy a townhouse after auction (deceased estate) for $25K under val (in 1999).
Since then I’ve got smarter (although I’ve learnt some really expensive lessons), and spent a lot of money on education – and read just about every book I can find (I hate going into Dymocks cos I always spend money).
I don’t like to sell if I can help it, but we’ve sold some properties that we bought off the plan (and listened to dodgy brokers, and had bad solicitors) and were really badly finished, and because of things that had happened, tied up ALL and MORE of our cash. So we had them tidied up, and managed to sell some of them for a small profit, but with the equity we got back, we paid off the friends that had lent us the money to get us out of the massive crater we found ourselves in.
At the moment I’m ‘consolidating’ and getting all props revalued, and borrowing up to 80% on as many as the banks will let me, and then holding that cash in a LOC. This will help to cover any expenses (we’re now negatively geared thanks to recent purchases that were expensive, have had awesome growth, but poor rentals), and also enable us to jump back in when prices are better.
I own mostly in Canberra, except for my two tier marketed QLD property (which I kept, and is now worth as much as we paid for it – 10 years on!).
I was interested in NZ two years ago, but never made it across there, so I’m not sure if that opportunity has passed me by. The main strategy now is to buy cashflow positive properties, so that I don’t have to work, but again, that may have to be put on hold for a couple of years until rents start to catch up with the values again.
That’s pretty much my story, without going into TOO many gory details.[
]Cheers
MelProbably not Muppet. But the looming budget surplus right in an election year might mean that there are some tax cuts coming.[
]Cheers
MelEasily that many. I looked back in to see what you had written.[
]LuckyPhil should pop in (or Shaun if he gets round to it) and tell us off for reading his message, and now that you’ve started replying, and I followed suit, there may be some other people post some kind words too![
][]Cheers
Mel
]), and another time I rode my BMX (did I mention i was a tomboy?) down a curb whilst holding a tennsi ball, so not a very good grip. I think I whacked my head on the kerb (HOW do you spell it?). About 7 hours waiting at the hospital – my poor folks, at least I slept through it!
]
]. Nope, would never do that. In fact, I’m trying to have enough money to buy a farm so I can live there with lots and lots of dogs[
]. And I don’t care about your excuses that you may be related to LuckyPhil and have had some secret dealings with Shaun – it’s just not on!
] LOL
]
