Forum Replies Created
Did someone inside the house just shoot him and whilst he is trying to escape he realises he is losing so much blood that he just knows he cannot survive ?
Pisces
Now assuming that there are some more explanations offered, what is the prize I win if I’ve got the correct explanation Chan ?
Pisces
Well if the guy has any connection with the solution of why she killed her sister then it must be that she hoped that that guy would turn up at the funeral of her sister so she could see him again.
Chan, please do not take this as I am being a psychopath.
Pisces
Well she wanted to put a bit of daylight between killing her mother and killing her sister.
Pisces
Given a choice between selling to a buyer whereby the agent gets full commission OR selling to a buyer who had negotiated a conjunction deal with that agent AND given identical offers to buy which buyer do you think the selling agent will steer the vendor to ?
Pisces
>>Obviously, if you have a good relationship with your employer you can negotiate where your super goes however in many situations you have no control.<<
It is understandable that it would be an administrative headache for one’s employer if 200 employees all have got a different fund.
I think one’s employer normally give one a choice between four or five or so different type of funds.
Pisces
>>Also a MER {Management Expense Ratio} is charged annually and averages out at 1.94% with the range between1.5%{colonial} & 2.21%{MLC}<<
Bryce, 1.94% is quite a charge.
No, I am not saying that it isn’t earned. Just that it is a hefty slug considering what one can earn in a bank deposit or the rental return on a property.
Pisces
>>a non recourse mortgages<<
A non recourse mortgage is a loan whereby, in the event you default and the lender sells you up they will not be able to look to you for making up the shortfall.
So the lender carries a bit more risk but, then again, the LVR is likely to be more like 65 % and the lender is likely to charge a higher rate of interest.
Speak to your broker or lender.>>I can’t understand how the vendor would get there house back and I would lose my $15k deposit.<<
That would only happen if you were to default. You could use this statement (‘You (the vendor) aren’t really at risk as the worst that can happen is that you get the house back and I lose the money I’ve sunk into it.) to remove any fear held by the vendor.
The above isn’t really strictly true as, in order to get their money in the event you defaulted the second mortgagee would have to either take over the first mortgagee’s interest or, in the event the first mortgagee sold you out, there would have to be a surplus sufficient large enough to repay the second mortgage.
Pisces
>>problem is i have no control over it<<
Not quite true S.I.S. as I would think you are able to switch to another fund which may invest in a different medium.
In your case it doesn’t seem to be something to worry about as you haven’t been long in that job and are likely to move anyway (workwise).
Unfortunately a self administed fund has high costs attached to it because of compliance regulations and one would normally appoint a company to take care of that angle.
The end result is that it is commonly said that unless one has at least some $ 100K in one’s fund it isn’t worthwhile to run it yourself.
Switching to another fund ?
I understand that some funds inmvest in bank bills , others in shares, others in specialised real estate etc.
So there is a little choice.Perhaps Stuart can throw some more light on switching
and/or running a superfund oneself ?Pisces
It looks as if we may need to pay special attention to your post Julie as this is only your tenth post in a year so you obviously weigh your words well. [
]BTW guys, also give us some feedback whether we really want people to respond to any suggested opportunity by posting in this thread or whether it isn’t better to start a new discussion thread (if necesary) for each particular idea so that we don’t clutter up this thread ?
Pisces
I think you may be talking about Luna Park, just North of the Harbour Bridge.
Pisces
I’ve got a client who about a year and a half ago bought a 1 bedroom apartment in William st, Sydney.
His reason ?
He expects that the new Sydney tunnel presently under construction will turn William st, Sydney into a Champs d’Elyse type of parade after most (all ?) of the traffic gets diverted away from street level into the proposed tunnel.
As it is, a publication titled property.com.au landed in my email box this morning talking about the same project and suggesting that in four of the adjoining suburbs prices will dramatically improve because of that project.
The reason for my post ?
To draw attention to the fact that things, which are happening all around us, can and do influence prices and that by keeping an eye out and an open mind we can
discover these opportunities well before the bandwagon effect has started.Someone here (cannot remember who) has as his/her motto ‘Lead (etc)’ which isn’t a bad motto to live by.
Pisces
I’ve got a client who about a year and a half ago bought a 1 bedroom apartment in William st, Sydney.
His reason ?
He expects that the new Sydney tunnel presently under construction will turn William st, Sydney into a Champs d’Elyse type of parade after most (all ?) of the traffic gets diverted away from street level into the proposed tunnel (now under construction).
As it is a publication titled property.com.au landed in my email box this morning talking about the same project and suggesting that in four of the adjoining suburbs prices will dramatically improve because of that project.
The reason for my post ?
To draw attention to the fact that things, which are happening all around us, can and do influence prices and that by keeping an eye out and an open mind we can
discover these opportunities well before the bandwagon effect has started.Someone here (cannot remember who) has as his/her motto ‘Lead (etc)’ which isn’t a bad motto to live by.
Pisces
>>PS. Pisces, my husband is the boss of our house; he’s got my permission to say so!<<
Oh well PK, I can see you’ve got things well in hand.
Pisces
I know the question wasn’t addressed to me but, nevertheless, here is my input.
Let us assume you’ve got a prospectus which may well cost you $ 50 K (cheap) if it is prepared by one of the larger firms of solicitors (just guessing at the cost).
Remember, no self respecting lawyer would put a prospectus together for a mere $ 3K to $ 5 K (how else would they be able to pay for their tenniscourt ?)
What I do know is that in order to attract investors one needs to either advertise (and make a good job of that as a small classified won’t do the job) OR pay a share broker to mail it to their clients.I don’t think that a broker would be too enthusiastic about such a small issue but in any event, as their reputation is involved, they would need to be convinced about your ability.
I remember that about twelve months ago I approached a client who works as a stockbroker about the possibility of their firm being involved in raising money for another client who would have wanted to raise some $ 15 M to $ 20 M for an energy related project.
The broker replied that he didn’t think they would be interested as ‘the climate wasn’t right.
So here is another complicating factor none of us has brought up as yet.Secondly, a promoter would probably be looking at a 5% (?) fee which, if the funds raised come to $ 2 M, would mean a brokerage fee of $ 100 K.
I doubt that a fee of say 2% would do as the money put in by their clients would mean that these clients would have less money at their disposal to spend on shares (which possibly will be turned over several times and therefore produce brokerage, over a period, of a lot more than 2%.
Pisces
Gregg, if there is a loan involved I suggest that you better make sure, by talking to the broker, whether or ot the lender will lend if there is a vendor loan involved.
Some people handle this by having the second mortgage (from the vendor) treated as an unregistered mortgage so as to hide from the lender the existence of the unregistered second mortgage.
After the mortgage from the main lender has been registered on the title then, and only then, can the vendor lodge a caveat on the title to obtain a measure of security.
I can understand however that the vendor’s solicitor has some reservations as a caveat doesn’t give the same protection as a registered mortgage.
Then again, the worse that can happen is that the vendors get their house back and you lose your $ 15K deposit which you paid out of your own pocket.
BTW your proposed loan amount is near enough at a level that you may be able to get a non recourse loan from your main lender.
Pisces
Well Chan you have got two choices.
Change your wife or change your hobby. [
]Or is the problem perhaps that everything is in your name ?
Pisces
>>Im not sure what brought about the broad handed slap that my question was “merely a theoretical question”.<<
What … …. are you talking about Battz ????????
I started my post off with a quote from Comsol, not yours, Battz.
My post (the very one you appear to be complaining about) is in response to Comsol’s statement that his broker told him that the bank didn’t want to lend to him unless he had a deposit.
So where do you think that you come in in the conversation ????
Now, Battz, to answer your question as to a suitable book, here it is :
If you do a search for the words ‘Nothing down’ on the http://www.amazon.com website you will find some 108425 results which have these words in the title.
The best known one is probably ‘Nothing Down’ – A$49.95 by Robert Allen which you will be able to buy from Dymocks bookshop http://www.dymocks.com.au
There is also a thread somewhere on this website where there are some reviews of books. I suggest you also have a look there as well for books that appeal.
If you go back to the start of this thread you will find that, two posts before your first post in this thread, Melbear had already told you about this very same book !!!!!!
I note that Melbear in the second post in this thread gave a very good explanation of what ‘ Nothing down ’ means.
In fact Melbear posted several posts since about the subject (she is obviously much more patient than I am).
I am a little bit different as I get quite exasperated when the same question is being asked (or intricate details are sought which are really superfluous).
Pisces
Chan, Dymocks doesn’t stock it so where did you get your copy ?
Pisces
Mel, I think we both are saying the same thing so there isn’t any disagreement, slightly or otherwise.
As you say, the problem doesn’t lie in the formula other than in the way it is applied (or should that read ‘misapplied’ ?).
Pisces
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