lol ty sue [8D]

and steve….thank you to you aswell [] I appreciate this very much []

Arty….Hmmmmmmm wheres that DELETE button?? hahahaha

Paul and Mel,

I heard of someone with a boat and a Banjo who might play soft music at your wedding.

Regards, Phil

Hi everyone,

Thanks for the thread, as they say.

Akyboy, your question has been answered so I won’t repeat. But it raises other questions.

A good question on the LOC Luckyone, as it’s of interest to me. I had figured on aiming to get a LOC on my PPOR while the values are still high. The purpose of course to have cash in reserve for a future opportunity. I would however need to achieve more than the recent bank valuation after debt consolidation to do so. 80% in my case would require an extra $25K in the valuation.

Bill, I understand all that you have said. However, are you suggesting that a “friendly call from the bank” could occur when dropped values push the LVR above 80%? If so, I only see two options. Either a forced refinance by the bank back to P&I or sell up.

Regards, Phil

Gee thanks Bronwen .. just what I need. Can you hear my teeth clenching? Bloody rabbits!! I won’t sleep again tonight .. thanks so much.

Hey Soosh, what a man your husband is! I’m glad that you qualified as to exactly how he wrote in the snow. The traditional method would of course have taken the edge from his romantic intention.

“Run rabb …” bugger!

Regards, Phil

Good topic Westan,

I have found that topless girls on ride-on mowers do wonders to increase rent returns. Works well in group houses. No need to even drop the blades, just have them ride around wearing little more than a smile. Occupational Health and Safety issues restricted me though.”A Touch of Grass Pty Ltd” just wasn’t meant to be.

Seriously though, you can’t beat doing the gardening in a self-managed property. As an included service within the lease, I’m sure many busy people will pay a premium for the quiet and maintenance free enjoyment of a tenancy.

This won’t add massive value to your home, but it will add value to the rent. You can keep an eye on repairs and minimise inspections because you will visit frequently anyway.

I think someone spoke of the following, not sure. Promise a weeks perceived “free” rent provided every payment is on time, by having the tenant pay for it. At $250 a week, an extra $5 a week will pay for the week “free”.

Regards, Phil

Thanks Paul,

I hope you wrote it down as I have now edited my mail address from my post. If not, let me know and I’ll throw it on the board again.

Phil

Hi Paul,

Long time, no chat. How the hell are ya?

I guess you are talking cash rates. Buggered if I know the answer. But here’s my uneducated gut feeling: An increase of 0.25% by March 2004, then no more than another 0.50% increase by Christmas 2004.

If your old man wants to park some cash, would he consider investing it with his son??

Drop me a note, I’d like to say g’day.

Kind regards, Phil

Hi,
We bought a property with $200. the bank lent us 110% of the asking price (Bank of Melbourne) which covered the stamp duty , including on the mortgage. All you have to have is another property with free equity. The bank then links both of them as security for the loan. So we ended up with two mortgages, one with our principal home and the other on the investment property. Once The investment property had gone up in value sufficiently so that the percentage equity was over 20%, I unlinked our home from the investment property mortgage.

Prop16, your story is very much different now compared with the details shown in the original post.

Originally you were talking about a purchase price of $ 80 k and a return of $ 14 K p.a.

It now appears as if the prices range from $ 80 K to $ 140 K and obviously the return of $ 14K p.a. would apply to the dearer units rather than the
$ 80 K units.

Even at this stage you don’t as yet appear to have any idea about the size of the unit so we all are really very much talking in the dark. What a waste of time and energy. It would have taken only a phonecall to find out a bit more about the details which are so very much relevant in making some sort of assessment as to whether it is worthwhile pursuing.

As far as the fact that the apartments have been advertised for a few weeks is concerned, it doesn’t necessarily automatically follow that the proposition isn’t any good.

It could actually work very much in your favour as the vendor may be under pressure to make some sales and that fact alone may well soften the vendor up a bit so that one can negotiate a better purchase price.

From what I assume is probably a return of around
$ 8,000 p.a. (gross) on a $ 80K investment appears to be O.K. under the circumstances.

In fact there appears to be a real good opportunity here to resell the units to the tenants (or even to combine two bedsitters into one larger unit !!!!

O.K., where did you say the location is ?
(I am actually quite serious there and would love to have a look at them).

All other aspects (for example finance) are very much things one would need to look into before one makes a commitment.

Cheers,

Pisces133