Forum Replies Created
A low Doc ? One also needs to have had an ABN for some time (two years for some lenders though the broker can play around with that)!!
So perhaps a good idea to apply now in anticipation ?
Pisces133
There are times when one just cannot borrow money and so no refinance possible.
If thing are very very bad, hope that it will shortly become very very very bad so that the government may decide to call for a moratorium ?
Or having some of one’s money either in the share amrket or perhaps govt bonds ?
Then again who has money to spare for that ?
Pisces133
>>i guess what we are looking for is a good strategy to help us hold on when the market falls. <<
Some prozac perhaps ?
Pisces133
Yes, a drive through.
The people I know have a templet which they use to assess whether a particular site is or is not worthwhile.
From what I have seen, the right site can be a gold mine.
If one is concerned about wasting water , a carwash recycles the water and also there is not the same rate of sending rubbish down the system nor the excessive water usage as there is if one washes one’s car at home (where the soapy water disappears into the drainage system).
Pisces133
If one is worried at anyone time, sell down till you reach the sleeping time level.
Ways to protect oneself ?
Perhaps the solution may lie in getting a line of credit, drawing the money and thence use the money
to put into an offset account.Make sure that the bank cannot offset the money in your account against the outstanding loan.
In time of uncertainty place the money elsewhere in an account.
Would the above solve the problem somewhat ?
Anyone ?
Pisces
310.5 is my best…….but Ive bashed a few heads in getting it LOL
:þ
>>I think I’ve looked at this post up to ten times!<<
What ? Just sitting on the fence seeing who gets a bloodied nose ?
Why not jump into the melee. it is only a paper fight. No-one gets physically hurt.
Pisces
Come on Kay, only 285 hits to make the 4,000 mark.
Between the two of us I think we can keep the masses interested enough to keep hitting the thread to look how our latest tussle is developing. [:X]
Pisces133
Mick, the way to go about this (you are talking about a passive income aren’t you ?) is to find a suitable site, tie it up by way of option or conditional contract, approach one of the operators and see whether they are interested in renting the site.
To properly install the right kind of equipment you probably would be looking at between $ 700 to $ 900 K.
(that is on top of the cost of the land).However, I would expect the operator to install his own equipment.
Another approach would be to go into a joint venture with the operator.
I believe that with the right location there is big money to be made in running a car wash.
And, as long as you own the land you are the one in control.
I have a contact who imports and sells car wash equipment imported from Germany.
They also run their own sites as well as being in joint ventures with owners.
I got very keen at one stage but more or less strayed into a different direction.
Pisces133
I fully agree that syndicates can well serve one’s needs.
The kind of deals that come to us via advertisements offering 15 to 30% return could be dangerous to one’s health if one’s money is used as a deposit to enable the builder to raise a 80% loan.
In other words your money will be used as the risk money, also sometimes named mezzanine finance.
It means that the risk is all yours.
Fine if things work out, bad luck if they don’t.Builders, developers DO go broke sometimes.
I draw specific attention to Michaels wise words : “But, as with any investment, adequate due diligence should be conducted to ensure your funds are being appropriately distributed and managed by an experienced team.”
Pisces133
Price ?
Del is actually prepared to pay you money to take it off his hands. (Sorry, that was a joke in bad taste)
Pisces
$ 40 K won’t get one very far.
The reason to invest in a house rather than in a syndicate is because you haven’t got any control as to how your money is spent.
Who knows whether the people in charge know what they are doing.
Who knows whether the investors get a fair shake.
The ideal situation is to place one’s equity at work in many different locations so as to provide a greater security than if one’s money is tied up in one larger property.
Pisces
Markpatrick you said :
>>grew up in a far from financially comfortable large family and I think it can do kids a lot of good in that environment, as long as it`s a happy environment!,<<
Yes, a loving environment is very desireable. A lack thereof can cause big problems.
That is the reason that I say that it should be a priviledge to have children, not an automatic right.
Your second point :
>>fact is EVERYONE can`t have money and everyone can`t click their fingers and provide for their kids everything they want in life.<<Sometimes the family income isn’t enough to provide the bare essentials to the children. Something is definitely wrong there.
Part of the solution ? (In hindsight) Not to have that many children that ALL of them go short of the bare essentials.
Again, in many of these situations the father earns a lot more money than he brings home to his wife.
Why ? Because most if the income earner’s wages finishes up in the till of the local pub.
BTW, my father’s mother had 17 children, only five survived beyond five years of age. But that was in an age of religious superstition where people were heeding the dogmas of the evil priests and, secondly, ‘the pill’ was unheard of.
Today there is no need for a woman to be abused to the extent that she is like a two legged rabbit.
Pisces133
>>im not married, just in a relationship <<
What ? Seventeen and already in a relationship ?
(I hope it isn’t with Phil ?)What is the rush anyway ?
Pisces
well of course I was gonna read THIS post!! The hell fire club……ahhhh…….where the deviates party!! Wanna have a Melb meet there?? Whips chains and handcuffs a must…….leather or latex optional!! [}
][}][}]Well that looks like a good way to get a tax deductable holiday, even if you finish up not buying anything [:o)]
Pisces
If you have the good fortune (the harder you work the luckier you get) to locate and buy a property which you can more or less instantly flip at a profit then you will produce some income which will go a long way towards establishing a higher deposit for the one you decide to keep.
At other times the vendor may be prepared to lend you a deposit via an unregistered mortgage (which the lender therefore wouldn’t know about unless you tell them about it).
However, not disclosing relevant facts to a lender is not ethical.
I would think that, if one doesn’t quite comfortably qualify for a loan by the bank’s standards, one may place oneself in a situation where, if something goes wrong somewhere along the line, one may possibly create a financial stressful situation for oneself.
Better to avoid stress (and the consequences) and grow at a bit slower pace ?
Remember who won the race between a tortoise and the rabbit ?
Pisces
I certainly would like to know why the construction was discontinued. (Sorry if this is not the case).
If it is however the case that you are buying from a builder an he hasn’t as yet finished the construction
I would certainly make the contract subject to satisfactory completion, which means that you can have the building inspected and that all defaults are to be rectified before settlement.I once had a dwelling built by a project home builder and a day before I was to make the final payment and the builder was to hand over the key to me I had an architect inspect the dwelling and we came up with some 62 or 63 defaults.
Some minor, others not so minor.
If one doesn’t go to the trouble to have a builder or architect make an inspection before settlement and you become aware of the defaults later on you may have a hell of a job to get the builder to make time to rectify the defaults.
Regards,
Pisces
>>We have got to the stage of trying to listing our Asparagus farm for sale…… Anyone interested???? <<
Sorry, it appears like too much hard work to me.
Pisces
>>In recent days the media has focused on the negative effects of the rising Australian Dollar, etc<<
It isn’t so much the cold hard facts as the feelings such articles stir up in people’s minds (which in turn affects their economic behaviour).
Will ‘the news’ be strong enough to change people’s outlook towards real estate (be it buying, or selling) ?
Anyone ?
Pisces133
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