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  • Profile photo of oneiriceroneiricer
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    October 7, 2009 - 12:05 pm

    doesn't the RBA not have a meeting in Dec/Jan, due to holidays?

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    April 21, 2009 - 12:58 pm

    Hi,

    Just want to mention that with that list of repairs, I would be factoring an extra 2 weeks + 10% costs in case things 'go worth' (murphy's law)

    good work and congrats on getting out!

    Ken

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    April 17, 2009 - 3:42 pm
    elkam wrote:

    skuz wrote:
    Gold or even silver on the other hand is straight forward. You just have to weight it and you know the value.

    Hello skuz

    I wouldn't be too sure of that.  True story.
     
    Without going into great details the basic facts are that my girl friends husband thought he was being careful ( and clever ) when he accepted about 30,000 euros in gold bars ( marked as issued by a Swiss bank ) . He had 6 of them ( randomly chosen by him from a suitcase full of bars ) cut in half and tested professionally while everyone waited, watching the suitcase.

    After the deal was concluded and the people had left the only real gold bars were the 6 that he had had tested. The rest were just gilded.

    As I told him when I tried to disuade him from entering into this "profitible" transaction, if the bars were real and also not stolen then they could be sold in any bank.

    An expensive lesson.  :-( 
    Elka

    If he randomy chose 6 gold bars, how did they swap them in time?!?! Was it a Chris angel trick or something?

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    April 16, 2009 - 11:33 am

    2% would be my wet dream come true. rates are likely to drop a max of 50 basis points only.

    i think the RBA will hold off for the next 2 round of meetings.

    Profile photo of oneiriceroneiricer
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    April 16, 2009 - 11:32 am

    Just a correction – I work in the super industry and am fairly certain that retiring baby boomers will not have a negative impact on super.

    if anything, there will be a positive impact.

    dont forget most baby boomers won't have large super savings due to the recency of the SG legislation.

    to the poster: if you cant give a stuff about investments, super is a fairly good choice, since you don't have to lift a finger. However despite working in the industry, for the highest gains you really have to go shares or property (or both) :)

    Ken

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    April 15, 2009 - 10:15 am

    $1000.00 a quarteR?!?!!? that is massive. besides, I thought as a land lord you only have to pay for the service charges relating to utility (i.e provision of electricty and water and gas, NOT the actual usage as that is chargable to the client)

    I guess you have a point about weatherboard houses.. maybe i'll look around for a brick one instead :)

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    April 14, 2009 - 12:37 pm

    Thanks for your input Shales! Thats not too shabby. except the house I am planning to get is prob 1950 or something ancient and weatherboard to boot. So I should probably expect more huh?

    At the end of the day – it is an investment property. I wouldn't be going in and adding a spa, but I also have to make the place marketable and hospitable. So bare essentials I guess.

    What would you do?? I've set aside 1500 a year on repairs…

    Also I've based 700 bucks a year on utility rates (Gas, Electricity & Water)

    Apologies if I am too anal – first IP and am nervous!

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    April 14, 2009 - 11:46 am

    bump

    Profile photo of oneiriceroneiricer
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    April 13, 2009 - 12:34 am

    haha, that sounds awesome. maybe you can negotaiate better terms that will involve free services from the strip club? :D

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    April 13, 2009 - 12:30 am

    Hi Mliew,

    I would suggest you do a cost analysis to see how much you will be paying should interest rates rise to 6%, 7%, 8% 9%, etc.

    The 5% wouldn't stay around forever, and judging by how much you earn, you only have roughly 1k a month after paying the mortgage.

    This 1k also has to include your cost of living. What if interest rates go up? WIll you be forced to sell the prop in 1 years time if interest rates go up to 7%?

    Also you are blurring the lines between a property you want to stay in and an investment one, as it sounds like you want a bit of both.

    Profile photo of oneiriceroneiricer
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    April 6, 2009 - 12:27 pm

    Does anyone have any experience regarding putting offers in subject to:

    1) The current tenant resigns on for another 1 year lease from when his current lease expires?

    2) Have a look at the current records available to see if the tenant is a good tenant (i.e. did not go into arrears, doesn't call the PM if there is a bit of paint flaking off)

    I always hear 'subject to finance' but that is sort of vague. I would be able to acquire finance but it is more important for the existing tenant to sign on than me funding the thing (otherwise it wouldn't be an investment!)

    Profile photo of oneiriceroneiricer
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    March 10, 2009 - 11:12 am

    Hi Nic,

    Im same age as you and our combined income is much less than yours! im also looking to buy an investment property, but if i were in your place, I would actually take things a bit easier.

    If you're planning to have kids in the close future (within 3 years), I wouldn't actually buy an IP. Firstly your partner will be out of work a year, and you'll want to be home to look after your new born occassionally. I see a lot of mums rushing back to work after 6 months because of no $$$ – I personally wouldn't do this. Its not good for the baby nor is it that great for the mum.

    I would suggest you pay down your mortgage so you can sustain it on 1 person's income and still live comfortably (whilst adding extra repayments to the mortgage). Then have a kid, and once the kid is roughly 2-3 years old, you'll have enough equity and cash built up to buy.

    this might even time well with the upswing in property market – or it might not. but the important thing is you don't overcommit yourself and down the line you realize your partner cant afford to take time off to have a baby.

    investing and cash is important, but so are other things. do you want to work hard and retire rich at 40 then start having children? can you work your guts out until you're 30 and have enough passive income to be able to reach the same situation?

    I've had a thought of some of these questions and I can't decide either – so i know exactly what you're going through.

    Oneiricer

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    March 3, 2009 - 11:45 am

    What happens if you move into your I.P and turn it into a PPOR? That effectively means your interest payments arn't tax deductible, so the ATO shouldnt give a rat's ass about how u use the withdraw facility?

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    April 12, 2008 - 12:59 am

    Hi Hasina,

    Thanks for replying my message. Would you mind if i ask you a couple more questions regarding investing Singapore? I am not from Singapore and a lot of what I know is second-hand information which can potentially be incorrect.

    I have looked quite throughly at the stats provided by the HDB board website (http://www.hdb.gov.sg) and have found quite interesting stats – e.g. Median House Prices by Area and Median Rental Price by area. They also have a calculator that shows monthly repayments.

    if you subtract median rent by monthly repayment, my initial calculations show that you would be CF+ in the region of  SG$200.00 – $400.00

    In your experience, is this what you have found? Are the stats representative of what you have?

    The first thing you mentioned on propertyinvesting.com is that it is fairly easy to rent out your place. I am finding it quite difficult to find stats on rental vacancy – do you have any?

    Secondly, you mentioned long waiting lists for HDB flats. How long is long? 1 year? 2 years? Also, since me and my partner do not own any HDB flat at all, are you allowed to buy a HDB resell flat outright?

    Finally, you mention you're looking for a second property in singapore. From what i know of HDBs, you are only allowed to buy one? does this mean you have decided to buy 'freehold' or private property? Arnt these properties rediculously expensive?

    Thanks in advance, and best of luck to you on your second property :)

    Kind Regards,

    Kenneth

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    August 12, 2007 - 12:39 am

    Hi, im new to the property investment game as well, but after reading through i thought i'd point out one thing that glared at me –

    Quote – " – Low vacant rate (according to local agencies)"

    I would double and triple check this.  Local agencies obvioiusly will tell you its a low vacant rate, especiall if you're an investor. check this out. What is the rental percentage, the vacancy rate in the area?

    my friends were also planning on buying in melbourne's west, in melton. it looks good, the prices of the houses are really cheap (200k) and land is fairly big. so i thought we share a similiar situation.

    also, does your place have good public transport/train lines? people that live in the west complain about having to drive to the city eastward in the morning, facing the sun, and driving home westward, also facing the sun. i know this has prompted one board member to relocate – thus the hosue that you rent will have to be a fairly cheap, "starter" house as people would eventually want to move eastward, unless they catch the train evreyday to work.

    Profile photo of oneiriceroneiricer
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    July 31, 2007 - 7:56 am

    how much do you have saved up?

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    July 19, 2007 - 11:18 am

    I was trying to imply that it is not 'sustainable' which is to say, there is an extent to which you can depreciate properties, correct?

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    July 10, 2007 - 9:11 am

    its more like neither. putting enough of your cash into deposit isnt such a great idea as it means your cash on cash return will be significantly lower than puting in the bank. This just means that you're probably better off putting your money in the bank, earning monthly interest in it (risk free) than putting it on a house.

    Your second method works, but is only good when you cash your cheque in from your ATO. you're still incurring negative cf during the whole year, and not to mention, when you sell the house, the value of the house is the depreciated value, meaning you're gonna cop it big time with capital gains when you do sell the house.

    the only way to satisfy the above is the manage the deal so that it is works. and thats the very, very difficult bit.

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    July 7, 2007 - 9:54 am

    Hey Beanie Monster,

    lol, i guess we've just misunderstood each other. i knew you weren't critising me at all; i just believe you when you said a lot of people snubbing the west. but logically, if you think about it, places such as narre warren and berwick, which is more than 30k south east of melbourne, house prices are very high. i would think prudent & logical people, who work in the city, would prefer the western suburbs over south east, as there really isn't too much room anymore.

    i guess i will look into depth into the western suburbs then :)

    -Ken

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    July 7, 2007 - 3:01 am

    i am definatley not snubbing my nose to the west; i was actually planning to buy my first IP near the west, as i don't have that much saved up and can only afford something thats cheap… currently the west is pretty good!

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