Forum Replies Created
- Originally posted by cashpoor:
Thanks for the replys.
The criteria for excluding suburbs is high crime &/or problem tennents.Example would be riots in Macquire Fields in Sydney.
Thank you for your help.
Regards
CashpoorPotentially a great medium to long term investment as current prices drop to below market levels. Crime can be cleaned up very quickly but property lasts forever.
The worst area in Inner Sydney is Redfern yet prices in this and surrounding areas are still fairly high. They even call the area ‘The Golden Triangle’ regarding townhoues, houses, etc and excluding units.
There are deals everywhere.
Robert Bou-Hamdan
Mortgage AdviserThere is absolutely no problem getting properties financed at high LVRs under 50 sqm. Try using a mortgage adviser and things will be much easier. Even inner city can be done at 100%.
The real problems exist when a property is less than 25 sqm but even these can still be done.
Robert Bou-Hamdan
Mortgage AdviserI didn’t think you could suggest any real ideas to making money in the current economic climate. It seems you guys are more than happy hiding your cash.
As for doing things differently, it sounds to me like both of you are following the flock as the majority is preaching doom and gloom. I am content doing the opposite or implementing strategies that profit from downward trends.
Regarding my jealusy comment, that refers to not being able to find properties that are doing the opposite of the general trend assuming you want property. I am personally getting out of all property investments to enter into other more profitable and certain investments which are property related but do not require holding property.
Each to their own.
Robert Bou-Hamdan
Mortgage AdviserI never received an email Richard. Salubrious has declined to support his claim with any real evidence. However, he has now stated this was a one off single event which I also doubt with rates at current levels.
Robert Bou-Hamdan
Mortgage AdviserI think you will find that non-recourse loans are only available to the very experienced larger corporations.
Robert Bou-Hamdan
Mortgage AdviserI did the same thing recently and could not find a decent Sydney Accountant. I ended up using Mark Unwin who is based in Melbourne and everything was done efficiently, quickly and at a good price. With the internet and email, there is no need to restrict yourself geographically. I have referred a few people to him and they are also happy with the service. He also posts in this forum so send him a PM.
Robert Bou-Hamdan
Mortgage AdviserIf I was you, I would get the DA approved and sell the site to a developer with some sort of deal in place where you can take ownership of the units you wanted to keep. You need to walk before you can run and this is too hard for a beginner. Try something smaller, team up with someone experienced or walk away.
Robert Bou-Hamdan
Mortgage AdviserYes there are. You should speak with a knowledgeable mortgage adviser and utilise their services so you do not face such problems.
Robert Bou-Hamdan
Mortgage AdviserI can’t say I am aware of anyone demonstrating blind devotion but I certainly agree with platitudes. When the same question is answered over and over again, it must be expected.
Robert Bou-Hamdan
Mortgage AdviserI am not selling anything. Have fun protecting your capital.
Robert Bou-Hamdan
Mortgage AdviserInvesting in Australian exporters is a nice low-risk investment that will return certain profits – NOT!!!
Why protect capital when you can increase it if you know how?
Robert Bou-Hamdan
Mortgage AdviserThat is why I have two properties in WA. One in Queens Park Perth and one in Geraldton WA. It is also a big reason why I don’t believe the doom and gloomers when they regurgitate media commentary about the economy.
Robert Bou-Hamdan
Mortgage AdviserI think you will make more money if you only refinance to 80% and save on the mortgage insurance costs with each refinance (assuming you don’t use every cent as soon as you get it). Why throw away a few thousand dollars each time you refinance?
Robert Bou-Hamdan
Mortgage AdviserI have never asked about jewellery but get your broker to call me and I will give them the details of the lender as you will not be able to go direct. My number is 0414 347 771.
Robert Bou-Hamdan
Mortgage AdviserSo is that it?????
Your big investment idea is putting money in the bank at 6% per annum????
This equates to about 1% per annum net after tax and inflation if you are in the highest tax bracket. All this does is compound the baby boomers problem further.
I noticed that was also your shortest post seeing it had to come from your mind. Impress me more and tell us an investment that can return at least 6% NET per annum after tax and inflation.
Robert Bou-Hamdan
Mortgage AdviserI totally enjoy a good debate as well. Unfortunately, I can not give credit to anyone who states something I believe to be untrue (as do others) and refuses to prove it. I am happy to meet with you or have you call me to demonstrate your claim but I will not bet with you until you come out from hiding behind the screen.
I appreciate your comments regarding my website. As for advertising for work, this is not my intention either. I believe you will be hard pressed to find anyone I have agreed to do a loan for from this forum. I get asked via email and phone numerous times a day but I only provide information because I enjoy doing it.
My signature is there to support my comments and so people know I am not someone who makes things up or who can disappear when the going gets tough. My signature also puts my credibility out there for public scrutiny with every post. You do not take such risks as has been demonstrated once challenged (not that you have to).
I am winding down my mortgage broking business and moving into a large financial organisation in the near future but I will continue providing advice through another website and on forums. The existing website will just be a splash page to the new site. The closest I will come to writing loans in the future will be advising as to structure and providing a referral to another broker who is not affiliated with me through any business structure although I may get some commission if a borrower wants a referral.
I was serious about giving you leads IF you could demonstrate your claim.
Anyway, until the next big debate.
Robert Bou-Hamdan
Mortgage AdviserLet’s all hide our money under our matress and committ suicide shall we?
Shock me… try answer my earlier question.
Robert Bou-Hamdan
Mortgage AdviserAnd if it has too much of a twist, don’t expect to be able to borrow much against it so have a nice chunky deposit on hand.
Robert Bou-Hamdan
Mortgage AdviserYes. Some brokers have access to lenders who will take security over anything of value. That could be a lease, hire purchase or rental arrangement. The most common item used is motore vehicles.
There is also the more expensive unsecured credit or personal loans.
Robert Bou-Hamdan
Mortgage AdviserThere is that forum sensitivity again.
The ‘jealous’ comment refers to property investors who actually make good money in all economic climates. Instead of preaching doom and gloom and sitting there with money in the bank earning nothing, they get on with it and have an educated go.
Instead of regurgitating other people’s negative economic commentary, why don’t you tell us what you consider to be a good investment and show some positivity and originality for a change?
Robert Bou-Hamdan
Mortgage Adviser
