quote:Originally posted by BEAR1964
Thanks Richmond

…My experience many years ago when interest rates got as hi as 18%…Many people lost alot of money in these areas…but if ya can’t service the loan u have to get out.

Regards Bear

And this was my original point – whether you convince yourself that because X happened in area Y means it’s g…[Read more]

Yack/Andrew,
It looks like we are in complete violent agreement here []!!
Mind you, I’m not saying that the sky’s falling or we’re all going to lose our portfolios etc, but if you don’t have the cashflow and/or earnings to service your debt or anticipated debt, then that is reason enough to stay out of the buyers market. Many people I have spoken…[Read more]

Perhaps I’m missing something fundamental in this enlightening thread…

I’m risk averse, figure a faint heart never won a fat turkey, etc, etc and have already bought into the IP market. My family has good salary cashflow but nowhere near enough to support and service the debt that I would have no problem accumulating if I simply went out and…[Read more]

Jellybabes,

I have been informally involved with the Investors Club for a few years – I attended one of their seminars and knew a few people who have bought property through the club. I get their regular newsletter.

The issues that they currently have with ASIC are largely to do with the legalities of some of their club features and options,…[Read more]

Hi M,

quote:
Rowan – everyone scoffs at us lawyers when we tell them to get releases from open-ended contracts. But I think your example clearly highlights the need. Even a letter from the real estate agent confirming that your contract with them is terminated may be good enough. But you needed to extract that when they were still trying to get…

[Read more]

Hi Peter,

quote:
I know it is an old story by now Rowan but I am just curious whether you signed an agreement with the second real estate office or whether they merely got a conjunction. <snip>

We signed a contract for sale for 90 days, during which time the first agents did not sell the property. They got a deposit for the house, (from a mate…[Read more]

Arty,
Good luck in your dealings with the agents.

Are you going to hit them up for a breach of contract or malpractice?

I’ve had a run in with a Real Estate Agent in Victoria who tried to double dip on the agents commission – it was plain robbery but I was forced to pay it or go to court and lose.

The agent in the property’s suburb couldn’t…[Read more]

Sach,

Get a jumper[]!!

True, it can get cold, but the air’s fresh, the water’s good for homebrew and it’s not too crowded in the pubs and clubs!

Oh, and tenants are still paying high rents![8D]

Cheers,

Rowan

Hi Andrew (and other forumites),

Like Kierra, I’m a newbie on the forum and in just 2 days I have read a lot of valuable insights and confirmed some of my own theories!

Although I have been in the IP game for a few years, (yeah I know, get some time up!!) this is a good forum that has a strong focus on positive cashflow and its inherant…[Read more]

Kavita,
I agree with you regarding the virtual impossibility to find positive cashflow in Canberra, right now.

I just think that the market is too high and people who a buying IPs to avoid being left behind are the ones who will be burnt at this time.

P.S. Im an ex-Melbourneite and have lived here for about 12 years – yes, it is a great city to…[Read more]

Ok, sorry, I didn’t know exactly what you were after!

You and Harold are both right in assuming that there are very few positive cashflow properties here in Canberra – but that is not to say that there are none!

Without going into too much detail, I have +ve cashflow, but largely because I have purchased ahead of the mob and the subsequent rush…[Read more]

I have a package with one of the big four banks. We have IO equity lines of credit for our investment properties and a P&I loan for the family home.

I want to minimise the loan payments on my IP’s and maximise the payments on my non tax-effective home mortgage (so I can get more equity, etc). We have all our IO LOCs at just under 6% and we have…[Read more]

Designer,

I have invested in the inner south area of Canberra. 2 hour’s drive from Canberra covers a pretty wide chunk of land, including Wagga, the snowfields and Sydney []

Are you after rural investments or do you want to know what’s good in the Canberra suburbs and surrounding districts such as Murrumbateman and Yass?

Rowan