Its tempting, but maybe not so smart

Yes its cheap, makes you wonder what will happen to our mining towns if (or when, if ever), the resource boom slows.

Detroit is a big place I imagine, and a change in industry has bottomed RE values, I wonder how things will go in Victoria if we run out of water..

Originally posted by Mortgageman:
Hi Pwinne,

Here are some questions that would need to be answered for myself or any broker to talk to you about loan structures

Is the 1900 per month in rent the only income you have?

no, my wage is 90k+

What are the current loan amounts and property values?

total loan is 460K and value 700K

Is your current…[Read more]

yeah its a real gamble.

the local MPRE in my area recently took 2 offers in sealed letters for the vendor (jenman REA), and the one that won was HIGHER than the asking price!

Originally posted by jacklynh:
Hi all,

I am planning to an IP in Victoria. Do you think Frankston is a good location? How do you find out how many percent of the local residents are renting? Thanks

Best regards,
Jackie

Hi Jackie,

I live not far from Frankston have IPs in the area (Chelsea), and have looked at the Frankston market a lot of the…[Read more]

Originally posted by gmh454:
Originally posted by simple:
.
Economy cycle up and down every 7-10 years.

Sorry but can’t help myself. When was the last time Australia had a 7 year property cycle.

Terry

well i bought a place in chelsea VIC for 110k (1997) and sold for 260k (2002) I’d say that was a boom [exhappy]

i also did well on a…[Read more]

Originally posted by carlee:
This is a subject my husband and I know well. My husband and his family went partners in a house signing the contracts as tenants in common. However his father decided shortly after that he didn’t want to pay any of the mortgage( in everyones name) and he refused to sell it ( you need everyone’s consent before you…[Read more]

Originally posted by fbd1:
ANZ have a V2 account which doesn’t charge for any withdrawals & you don’t loose your interest for month if you withdraw, however you must maintain minimum of $5000 in the account. I think it is 6% interest from memory.

Yep, thats a great account if you use e-trade.