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March 12, 2004 - 12:43 am
>>That’s it. I’m selling my IPs and going into spam.<<
Very funny, Rubbachook.
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March 12, 2004 - 12:36 am
>>Julie and I are going too.
Dave<<
>>Guess we’re not invited Property Guru
Judi<<
I guess Judi, if your name had been Julie instead of Judi, Dave may well have invited YOU instead of the other Julie. []
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March 12, 2004 - 12:16 am
Manofaction you said : “I’d find somebody who needed $50-.
I’d lend the $50 to them on 2 conditions that must be rigidly enforced…..
1) They must never repay the money back to ME.
2) When they are in a position to be able to repay the $50- in full, they must find somebody else who needs $50 and lend it to them on these same 2 rigid conditions.””
Manofaction, what a wonderful idea.
However to make a much bigger impact what about the debt being repaid at a penalty i.e. $ 50 interest, both the debt and the interest being repayable next payday or even in one month time.
Exhorbitant rate of interest ? Perhaps so, but remember …………… we are on a mission to help others.
If someone really desperately needed $ 50 they, of all people, would have a real understanding about, as well as a lot of empathy for, many other people who are at some time or other in a similar desperate situation.
Now let us just see what will happen. You ‘lend’ to one person, he/she repays in the form of making two other people happy with a loan, these two in turn create four borrowers, the 4 borrowers turn into 8 happy people, 8 turns into 16, 16 into 32, 32 into 64, 64 into 128 and so on.
Any idea how many people are being helped ?
After a mere seventeen such groups of transactions your original good deed will have helped some 131,070 people.
Any budding mathematician cares to work out what happens after some 60 such group of transactions ?
The same method can be applied to many other areas.
Do gooders, eat your heart out. You, starting off as a single entity could change the world. [:o)]
You only need to convert one rip off real estate investor to your way of thinking. That person thence goes out and converts two others, these 2 convert 4 others and so on.
Every great enterprise starts off with a single simple step.
That is the power of this formula.
It is in a way applied by Jehova’s Witnesses who all are required to go out doorknocking. No wonder they are one of the fastest growing movements.
NOw let us take this a step further Manofaction.
What about if, instead of lending, we start off a chainletter where everyone pays a mere $ 10-00 to receive (buy) the chainletter ?
Each such person sends $ 5-00 to each of the six people on the chainletter list. Thence they copy the chainletter with the following adjustments : remove the person at the very top, and move everyone up one place AND make yourself number six on the list.
Each such buyer then sells a copy of the letter to four other people for $ 10-00. Thus they will have gotten back their original investment of $ 40-00 and only have to wait for the mailman to deliver sacks of cheques to them.
The chainletter should also have a suitable curse in it to intimidate anyone so as they don’t break the chain. []
Beats having to run around looking for suitable real estate to buy, anytime.
This business can be worked at from home, no need to go off traipsing into the country looking for cheap properties.
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March 11, 2004 - 11:29 pm
>>Chan are you having the same probs ?<<
Ginamarree, I would think that 80% to 90% of people have got SPAM problems – unfortunately.
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March 11, 2004 - 10:35 am
Celivia, if the property is 30 years old I wouldn’t be very concerned as it likely won’t get much worse than it is now.
If it were a couple of years old who knows where it would finish.
I don’t think that the suggestion to cover up the cracks when selling is a good idea without getting some legal advice first (you may need to cover it with a clause in the contract).
I understand that there has been at least one court case where the buyer got compensation because the crack was covered up and the existence of it wasn’t disclosed to the buyer.
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March 11, 2004 - 1:00 am
Is it an option for one of you to retain the house ?
Taking that course a fair amount of expenses (stampduty, agent’s fees, replacing furnishings etc) can be avoided.
Yes, I realise the possible (emotional) drawback of staying put in the same place but then again, murdering money, your money, isn’t a good option either.
BTW selling a house yourself isn’t so easy either. The first thing to do is to find out what the house is worth. This can be achieved by having half a dozen agents come and visit you to give you a market appraisal OR you can go and visit open houses for neighbouring properties which are for sale and thence keeping an eye open to see what they have sold for.
Another option (and probably the best) is to have a valuer determine a fair and reasonable market value.
Make ysure that he is aware of the reason for the valuation.
Discuss the valuation with your partner before ordering it. Your partner may be suspicious about your choice of valuer.
Once you have the written valuation in your possession you can discuss a selling price with your partner.
(which doesn’t necessarily have to be the valuation figure. To start off with you could deduct an agent’s fee from the value).
If you want to buy the house yourself make sure to point out to the valuer anything detrimental to the property that you are aware of.
If both of you want to retain the property you could agree in writing to have an auction conducted between the two of you.
Just make surwe you have finance lined up beforehand.
One other thing. I do not know for sure but think that possibly one may be able to avoid stampduty when half of the house is transferred to the other party if such transfer is because of a divorce court order.
One way to find out is to ask a solicitor or, better still – cheaper anyway, is to ask the stampduties office in your state.
Hope this helps.
Good luck
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March 11, 2004 - 12:40 am
Tanya, is it an option for one of you two to retain the house and buy the other party out ?
Selling (and buying elsewhere) will bring with it additional costs which can be avoided by ‘staying put’
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March 11, 2004 - 12:29 am
Possibly 25 %
Be aware that there are other factors which decide
whether a lender is interested in lending (things like length of the commercial leases, etc.).
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March 11, 2004 - 12:25 am
Oh, there is something else guys. There is a facility in Outlook Express which one can use to automatically reject emails from certain people or emails which have a particular word (nominated by you) in the email.
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March 11, 2004 - 12:22 am
>>I got similar problems, please help.<<
Often the reason for getting SPAMS from sex sites is because one may be curious and go and visit such a site and one may thence subscribe to obtain free access by supplying them with your email address. [] []
Well Chan, you should know by now that nothing is free, there is always a price to pay.
I just hope that it isn’t your work computer which is being invaded. []
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March 11, 2004 - 12:14 am
>>The damn emails I get are for viagra and other crap<<
I notice, Ginamarree, that you classify Viagra as ‘crap’.
Is it your experience that it doesn’t work ? []
(Sorry, just joking [] )
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March 10, 2004 - 11:46 pm
You are getting 50 SPAMS a day ? Aren’t you lucky. [:o)]
Many people are getting three times that many.
Just goes to show you everything is relative.
The solution is rather simple.
Firstly prevention :
1. This isn’t quite 100% foolproof as it is possible for ‘them’ to invade someone else’s Outlook Express’ addressbook and copy the addresses (including YOUR email address) and even send out emails appearing to be sent from that person.
The first step therefore is to have a firewall to stop your computer being invaded. That will protect you against your computer being invaded and having some spyware installed (or, worse, the names of your buddies in your Outlook Express addressbook stolen and being used to send SPAM to them).
You can download a firewall, the best firewall there is around, for free (if you want the cheapest version) , it is called ZoneAlarm.
Do a Google search for ZoneAlarm and you will be led to the website.
You will get outstanding value in the products of these people !!
2. Don’t open any email attachments unless you know the person you received the email from as it may contain spyware or even a virus.
Even then I would very much hesitate to open an executable file sent to me by a friend.
3. Don’t visit sex or gambling sites and give them your email address as it will, as sure as anything, be used not only to inundate you with SPAM from them but they will also sell or share your email address with other operators.
4. Don’t show your email address in posts on websites like these as there is software around which allows one to comb through websites looking for email addresses and as a consequence you will eventually finish up on a mailing list.
The solution ?
Have three email addresses. One for business, one for your friends and one for when you respond to some advertisement or service. The latter one you keep changing every few weeks or so.
If you happen to have a website it is easy to create email addresses and
thence every few weeks create a new email address to replace the email address you use to respond to advertisements etc.
Seeing that it is so easy to create email addresses you could even create a new (i.e. different) email address everytime you respond to someone or some one’s advertisement or service.
If you don’t have a website you will be able to create some free email addresses by going to http://www.hotmail.com .
By frequently changing your email address will enable you to avoid most of the SPAMS.
If you want to go that far, by using a different email address everytime you supply it to a stranger you will even be able to detect which party has created a mailing list with your name on it which they thence rent out to (or share with) other parties.
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March 10, 2004 - 8:24 am
SMTM, have had a similar problem as yourself recently.
(door smashed etc).
If your garden area was disturbed (read ‘ruined’) I think they deserve to receive a bill for the damage.
If the tenant is working you will get compensated eventually even if you need to gop to court (which they in all likelyhood won’t be attending anyway).
It may be helpful by mentioning casually to the ex-tenant that if the matter were to go as far as reaching court the blemish on their credit file will be a BIG BIG problem for them.
If every lessor were to insist on their agent reporting bad tenants to the Tenant’s Register at least others wouldn’t be caught with incurring damage.
So ultimately it becomes a matter of the lessors helping each others to avoid scum.
I have heard of others charging a slightly higher rent and making a payment to the tenant at the end of a year provided the tenant has not breached the terms of the lease (a good motivation for them to pay the rent on time and also to look after the place in a better manner).
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March 10, 2004 - 5:25 am
Nats, I wonder whether the agent who placed the tenant in your property did bother to check the Tenant’s Register before they were given a lease.
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March 10, 2004 - 5:21 am
>>I also believe that the Libs need to be given a rest at Federal level now as they are also too arrogant.<<
I agree that it isn’t a bad idea for a government to get a wake up call every now and then so that they keep in mind that they are the public’s servants rather than being the lord of the manor.
But gee, Labor ? They really stuffed things up in the 70’s (and we still are suffering the consequences of that today), mainly I think because they had too much pressure rought upon them by the unions with their excessive demands.
From my point of view the Whitlam’s motley mob were an absolutely scourge for the country and whatever came after wasn’t much different.
Talking about arrogance, what about Paul Keating.
Housesonly, you said “People seem to forget etc”
Yes, I agree, people by and all are just too apathetic.
They seem to just accept meekly whatever gets dished out to them.
How can one change that attitude ?
In NSW for example despite the bad management record
of Bob Carr hasn’t sofar stood much in his way of being re-elected.
However if there is any truth at all in the saying “It isn’t that the Opposition wins an election so much as the government losing it” we may perhaps at last see a change brought about by the recent train debacles.
BTW [] this thread has now somehow evolved into a political discussion. Perhaps not such a good idea.
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March 10, 2004 - 1:29 am
I guess the court sides with the weak. A certain amount of pity for the underdog isn’t necessarily a bad thing.
(You see Bec, I have a heart too).
Ultimately however the court will have to follow the law.
The main problem is that so many no-good tenants are exploiting the law (assisted by the free legal aid services and the state’s housing departments who are familiar with the law and utilise it to explain to the tenant how to drag things out unfairly).
Instead of the tenant expanding their energy and getting busy with finding alternative accomodation they are getting busy with thwarting the lessor, only delaying the inevitable.
Ultimately however it is ‘the system’ which is to be blamed for the tenant’s outlook and behaviour.
People are just not educated at school how to handle money, drugs, and health.
The government isn’t prepared to make the hard decisions like banning poker machines, banning health damaging substances like alcohol and tobacco and sugar despite the well known detrimental effects on one’s health.
O.K., forget about banning. What about educating the population ?
In this state (NSW) for example we have this miserable looking Carr as a leader. The government is physically and morally bankrupt. Everytime I go across the harbour bridge I get physically ill as I am reminded of his miserable looking face.
The government cannot even spare a little bit of money to erect proper signage on the harbour bridge despite the fact that the harbour bridge is a cashcow and surely paid for many times over by now.
Now if they cannot properly manage something like the harbour bridge which is producing a continuously flow of money how could we possibly expect them to cut the state’s income by clamping down on gambling, drugs and other type of exploitations of the public ?
The governments depend on the rake off from the poker machines and other type of gambling to survive and thus cannot (so they think) remove these things out of people lives so the population can no longer be exploited this way.
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March 10, 2004 - 12:22 am
>>Go and talk to them, face to face.<<
Absolutely wrong advice.
They have been given notice, there is a written agreement and they are totally disregarding their part of the bargain.
Go and talk to them to do what ?
Plead ?
Finish up in an argument (or worse) ?
Be threatened by them ?
Have, whatever was said, twisted in court ?
The tenant’s interpretation of “fair and nice and reasonable” is ‘to let them do what they want to do, never mind the written agreement’.
They are obviously unaware of the existence of the Tenants Register in which they will be noted as difficult people with the end result that they will find it very difficult to find alternative accommodation.
Do you, Bec, perhaps have a couple of spare rooms to put them up ?
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March 8, 2004 - 11:52 pm
The obvious reason for excluding some of the rental income is because rental income by itself doesn’t tell us that one needs to take into account the vacancy factor for the properrty, the repairs, maintenance, rate and possible land tax charges, insurance etc etc.
So a lender who will only take say 80% of the rental income into account is doing it for that reason.
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March 8, 2004 - 1:33 pm
Here is another bit of caution.
Most of the lenders depend on the mortgage insurer accepting the security.
If it is a city building and also if there are a lot of units in the building the insurer will only accept a certain amount of risk @ say 80%, then another lot at say 70% LVR and thence it may reduce to say 60% LVR.
Also they will not lend on more than a certain number of units.
So if one wants to buy a city unit make sure that you obtain finance approval before signing on the dotted line (or make sure the contract has a clause in it ‘subject to finance’)
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March 8, 2004 - 12:36 pm
The rent obviously is reflected in the purchase price.
I don’t know Melbourne but if you were serious about buying then I suggest you either check out the correct rental value for the unit or pay a valuer (independent from the seller) to tell you both the value of the unit as well as the rental value.
If it happens (as I suspect) that the selling price and the proposed rental is inflated then your expense for the valuation will have been a good investment.
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