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Phil_2
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@phil_2
Join Date: 2004
Post Count: 45
January 18, 2004 - 7:40 am
ah huh, whats the diff. between CPI and market forces when it comes to rent prices? Is this good/bad?
I was thinking renting it to them.
Do they buy houses at inflated prices?[]
Phil_2
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@phil_2
Join Date: 2004
Post Count: 45
January 18, 2004 - 7:23 am
did I hear someone say 5.99% fixed for any length???
We just did some fixing last week, 150k @7.15 for 1 year!!! Did we get ripped?
I’m still learning the banking part, poss not very well.
Phil_2
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@phil_2
Join Date: 2004
Post Count: 45
January 18, 2004 - 7:06 am
Luke, Just to rub it in 4-5 years ago those 120k houses in Armadale were 60K. My best buddy bought nice 3×1 2yrs ago for 90K has it now rented at 170/wk and is now worth near 150K. Not too bad for inland.
If you’re earning ok$$ now is not a bad time to buy the Brighton house(was it?) because they’re pretty cheap compared to some inland stuff. And have you heard about the Alkimos satelite city?
Just my opinion[]
PS are you married – DINKS works wonders
Phil_2
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@phil_2
Join Date: 2004
Post Count: 45
January 18, 2004 - 6:27 am
thanks for the replys so far, but to shed more light on the situation – we’re building a 4×2 near where we live, some friends in the area sugested DHA. We’re in Perth’s north and there is an air base rather close.
So Diclem I can’t see the same issues as if you we’re in an isolated town.
Melbear, when you say inflated prices your not talking about rent are you?
Phil_2
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@phil_2
Join Date: 2004
Post Count: 45
January 13, 2004 - 1:24 pm
we’re building now and you need to watch very carefully what is going on. When you find a plan (assuming project builder) add adout 15% for finishing costs, and yes time, depends on the block but we signed up for the block in september 03, then went gung hoe with finance and building Co. and we still haven’t seen a contract to build yet. The only reason we’re doing it is for the instant equity ie: spend 220K up front make interest payments for 12 months then finished product should be around 260K – 300.
check out why you want to build.
Phil_2
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@phil_2
Join Date: 2004
Post Count: 45
January 13, 2004 - 1:14 pm
where can i get bulk insurance disc? I’m asking Rac right now and they say no!!!!
Phil_2
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@phil_2
Join Date: 2004
Post Count: 45
January 13, 2004 - 1:03 pm
Hi Philip
First you must be pretty clever with a name like that![] I agree with Mel, make sure you know what you want to achieve, not in investments but in life, where you want you and your family to be in say 5 and 10 yrs, then work back from that. Just remember that you Can do it and it is worth it!
Phil_2
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@phil_2
Join Date: 2004
Post Count: 45
January 12, 2004 - 2:59 pm
Kay I appreciate your thoughts, I am only interested in doing ethical and moral bussines however it poses the question, if the wrap is a win win situation and your offering them a good deal, does that seem ethical?
Or is there something I missed?
Phil_2
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@phil_2
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Post Count: 45
January 12, 2004 - 1:44 pm
noted
would this stop you from doing a wrap?
Phil_2
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@phil_2
Join Date: 2004
Post Count: 45
January 11, 2004 - 11:55 am
Thanks Mel
How exactly do you pull out equity by refinancing?
Phil_2
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@phil_2
Join Date: 2004
Post Count: 45
January 11, 2004 - 11:37 am
Thanks Mel
I have two issues in my head 1. our 2IPs are negatively geared and 2. the idea of selling anything and paying 25% CGT kinda bugs me.
I want to build again but with out some major change I can’t afford to pay another dollar.
Phil_2
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@phil_2
Join Date: 2004
Post Count: 45
January 11, 2004 - 9:59 am
Ok Richmond
3years ago we paid 104K for PPOR now worth 180K, In march we bought a 4×2 IP for 155k now worth 195K. now we’re building a 4×2 IP cost 220K finished aprox value 280k. So 665k total value and 465k of debt. And as I said I want to buy a business in the next couple of years does it look like I’m on the right path?
Thanks
Phil_2
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@phil_2
Join Date: 2004
Post Count: 45
January 11, 2004 - 5:51 am
My wife & I are in almost the same situation as nikeair. We will hopefully be finnished building by Sept. We will then have 2 -ve geared houses & PPOR – total debt 470K aprox value 670K.
You’re doing the right thing by asking for help and dont feel pathetic, believe it or not we all feel like that sometimes.
PS Asking God for help might not be such a silly idea especially with bub on the way.
Phil_2
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@phil_2
Join Date: 2004
Post Count: 45
January 11, 2004 - 5:30 am
Just a thought on the types of properties your looking at. My wife & I bought 1 of a triplex last year. The strata title had the body corporate stuff written out. So even though it’s in a group it’s treated like an independent(freehold) house. The only thing to watch out for is would that work in the units your looking at? We have only 3 detached houses with almost no common area. If its a large group this is hard to do because there’s usually lots more common property (owned by all tennents). All I’m saying is to look for situations where there is no body corporate stuff.
Finally, we are both low income earners too don’t let this stop you[^]