Forum Replies Created
Oh no, I think that positively reeks!! [
] Not regulated by government – 3% per DAY? I can’t even begin to work out the annual return on that one!! Sounds like you deposit (and hopefully for the promoters – hundreds, nay thousands of others) ghe $20 into the account, they use your password, and withdraw your $20, and everybody elses, and then they vanish!!If anybody could prove that I’m wrong I’ll gladly depost my $20 US.
Cheers
MelGood on you Bill, sounds like you have had a varied life!!
I miss Pinky I’m still catching up in the General Discussion and all new forums, but she was a lot of fun in Forum Fun.
Arty, and all other Artys that help him get his posts up [
](if they know you I reckon they must know Pinky) can you see if Pinky will come back.Cheers
MelHey lister
I am on less than $55K and have quite a few investment properties. I have never purchased my own home, but have lived with parents, and my partner, and now with parents again.
I guess it depends what your goal is. You have a good deposit saved (inherited?) up for either purpose. If you have no debts, you should qualify for finance fairly easily (unless self employed []).
If you buy a PPOR first, it will reduce your deposit, and perhaps borrowing power.
However if you invest for +ve cashflow, it may mean you can rent in a nicer place, or use the income to purchase more property with a view to not working at some point in the near future.
There have been many posts on areas to invest in. Personally, I’m looking in regional areas where house prices are under $100K and rent for enough to meet Steve’s 11 Sec Solution.I think your other question was if anybody watches Survivor? Sorry, can’t help you there.
Cheers
MelWe purchsed a unit (off the plan) in a new development of 119. Too big a number, and certainly wouldn’t want to do it again. There are still about 15 vacant, looking for tenants.
I had a couple of strategies for advertising, and thought that I would run an ad in the paper using Steve’s movie tickets advice.
My prospect saw an internet ad rather than the paper one, but when I did mention the movies to him, I think that (plus the timber floors we put in – it’s a $420K unit) clinched the deal. Ours was the first that he looked at, and he likes the design, and really didn’t want to look at any others, but as he works for the Embassy of Finland he was required to.
Final story – turns out we got an above market rent (-ve geared tho), some other units have dropped rents being asked by up to $50 per week. We also got the Embassy of Finland as our tenant for FOUR years, with price increases built into the contract!! At the moment the rent covers the interest, with about $50 per month to spare. Not enough to cover other costs, but as the property appreciated in value substantially since we signed contracts, it cost us nothing to buy, as bank lent on value – including stamp duty.
I reckon I can cope with the -ve cashflow for a while, considering it means that that’s the ONLY money I’ve put into the deal.Cheers
Mel
] Not regulated by government – 3% per DAY? I can’t even begin to work out the annual return on that one!! Sounds like you deposit (and hopefully for the promoters – hundreds, nay thousands of others) ghe $20 into the account, they use your password, and withdraw your $20, and everybody elses, and then they vanish!!
]).
), some other units have dropped rents being asked by up to $50 per week. We also got the Embassy of Finland as our tenant for FOUR years, with price increases built into the contract!! At the moment the rent covers the interest, with about $50 per month to spare. Not enough to cover other costs, but as the property appreciated in value substantially since we signed contracts, it cost us nothing to buy, as bank lent on value – including stamp duty.
