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  • Profile photo of simplesimple
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    @simple
    Join Date: 2006
    Post Count: 237
    September 29, 2006 - 2:17 am

    wealth4life.com – LOL, this story reminded me Europe. Dense, crowded place with few castles around (not for private use any more)
    [biggrin]
    On the brighter side, ozy’s build queenslanders using space inefficient, you can have a much more specious hose on the same block of land but will end up with garage under the house and bedroom on the second floor (not a bad set up anyway) [biggrin] Keeps the kids away and you get nice view from the window.
    And again, I guess it mast suite your lifestyle and liking…

    Profile photo of simplesimple
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    @simple
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    September 26, 2006 - 12:33 am
    Originally posted by gmh454:

    Originally posted by CanAm:

    My ride, Brock ADP wagon, 1 of 6 made – very sad about his passing. Met him several times and a man of great talent. And on weekends its my imported Chev CanAm, size of an escort with ’69 Camaro 302 factory fitted and street registered – awesome fun :)

    Got a ride around the back streets in LA in a 69 302 Norwood car, in 1991. Until then never knew what the fuss was about, I preferred my torque monsters.

    Are Can Ams Sth African ??? Know the engine but fuzzy on the car.

    Had my Jaguar XJS V12 5.3L coupe years back. Absolutely loved the car, smoooooth power. You can be going 180km/h and enjoy silence. It had 100L fuel tank which needed to be refilled twice a week for a city drive. Glad I sold the car, it would send me broke with current fuel prises! [blink]

    Profile photo of simplesimple
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    @simple
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    September 25, 2006 - 6:19 am

    My gut filling is we will have another 20 points added before New Year. Maybe the RBA will be nice to people and postpone rise just pass the NY mark but definitely move interest up in next 3-4 months.
    I would suspect 20-30 more points by the end of 2007. If this is the case (this is what I hope for) – we will go hunting for our first IP as prises already falling in Wynnum/Manly Brisbane on both houses and Townhouses. Higher interest will make more bargains to be available.
    [biggrin]

    Profile photo of simplesimple
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    @simple
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    September 22, 2006 - 5:35 am

    ^ ^ second to that. But we wondering around Wynnum/Manly Brisbane
    [biggrin]

    Profile photo of simplesimple
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    @simple
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    September 13, 2006 - 11:04 pm

    This is what i based my asumption on:
    http://www.rba.gov.au/ChartPack/graphical_summary.pdf

    Profile photo of simplesimple
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    September 12, 2006 - 11:09 pm

    I agree with Mortgage Hunter . Economy cycle up and down every 7-10 years. Find the way to hold the IP for 10 years and make money. Sell now and loose.
    I guess one option is to try to reduce principal on one of the IP down to 60% and then refinance it. This way it will pay for it self and you will have one less to worry about.

    Profile photo of simplesimple
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    @simple
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    September 10, 2006 - 2:31 am
    Originally posted by wealth4life.com:

    OK so i’m watching the Sunday news and i hear that 5000 people per year in Sydney are losing their homes because they can’t afford to pay the mortgage.

    Will it get worse?

    Developers in Sydney are moving to QLD to get profits in a more boyant market, which is slowing however over the 10 year prediction is the most stable.

    So who’s buying at the moment and what are you buying or are you scared to make a move?

    D

    I think in about 12-24 months will be good time to buy for us. Not because market is ready but simply because we will have PPOR payed out and 30% deposit for IP. Than in 12 more months we will manage to get loan down to 60-50% and than can relax as IP will become self sustained. Than it does not really matter how interest or market moves you are in the “safe buffer” area. This is the plan.
    Anyone else want to share of there’s view of future?

    Profile photo of simplesimple
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    September 7, 2006 - 3:44 am
    Originally posted by AJS:

    I don’t understand why every one panics with the interest rate hype… Do I look at things through rose coloured glasses? As long as your interest rates are locked in and you have purchased wisely in the first place you can sit back and watch everyone else panic. People are always saying to me “its not the right time to purchase now”. Well it is always the right time, you just have to do your home work.
    Thanks Andrea

    http://www.investmentpropertytoolbox.com.au
    Complete guide to being your own property manager and all the legal document’s required.

    Yep, spot on.
    But fixed period is only temporary. Once it’s over you will get hit with extra interest.
    What upsets people that one way or the other as interest goes up you pay MORE money to the bank rather that using it for principle.

    I would say” I do not care much” as well as my PPOR is less that 50% now in and it will take me less than 2 more years to get it down to “0” but I still hate to see as my interest rate got jacked up from 6.5% to 7.26. This easily added another few months on the duration of the loan.

    Profile photo of simplesimple
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    August 15, 2006 - 5:50 am
    Originally posted by Duckster:

    I think great , ( I now have low debt)
    I saw this coming 12 months ago and have lived through the 1992 recession we had to have !
    The impeding property crash will be buying opportunity but remember that high petrol and interest rates take time 12 – 18 months to really affect the economy . I think we will see lots of morgagee sales in about two years time. If interest rates rise you have to wait for the fixed interest rate terms to run out and then a sudden 4 per cent increase on a home loan will crush home owners overnight.

    Good point. I did not realize delay factor, however it is obvious.
    It will be a bit of snowball action when fixed interest rate period runs out and people will see an interest rise and at the same time RBA will introduce another 25 points on the top… Good help those young people who walking fine line generating “negative gearing” for tax purposes….

    [biggrin]

    Profile photo of simplesimple
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    August 15, 2006 - 5:37 am

    Last time I done some calcs, for an average couple (both on 70K/year) it would take about 25 years to build 2,000,000 (2 Mil) worth. This based on 0% inflation and 0% growth of realestate.
    Calculation was based on purchasing IP’s and paying it out…
    This is working hard and not wasting money

    Profile photo of simplesimple
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    August 11, 2006 - 3:05 am

    Well my understanding in simplified form is:
    Income > Expenses (Rich)
    Income = Expenses (Wealthy )
    Income < Expenses (Poor)

    Profile photo of simplesimple
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    August 11, 2006 - 2:45 am

    Does any one have any ideas on how the interest rate will move in next 12-24 months?
    I know this is not predictable but interested in thoughts.

    Say I have heard from the people up in the food chain a rumor that banks CEO’s and there’s assistants are started to reduce there’s assets that has funds borrowed against. Basically they trying to loose few credits (investments) and reduce dependants to the bank interest. I am talking about QLD based banks here (and management)

    Profile photo of simplesimple
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    August 11, 2006 - 2:36 am

    Rich is a specific condition when your profit is higher than your expenses.
    In other words you have “unused” funds left after all bills paid.
    On the other hand, wealthy is when your profits match your expenses….
    This is my understanding of it.

    Profile photo of simplesimple
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    August 8, 2006 - 5:55 am

    Hello D,
    My bad – I needed to indicate suburb (I was referring to Manly and nearby area).
    I would agree with you that realestate market needs to looked as the complex system rather than simple (interest up – wait/ interest down – buy). There are always some “deals” and opportunities. However I would think that for an average person on the street it to complex to understand. Most people will see it only from (interest charged to the loan) point of view.
    The big question is, if you are live borrowing the money from the bank how much interest rise can you afford?
    To support “complex system” statement, it is interesting how much units build around Brisbane area. This should have one of those complex effects to the market of housing by reducing the price of the unit and making stand alone homes go up in demand…..
    If you know what you are doing, some money can be made here as well, despite general price drop in Brisbane on houses.
    Any thoughts?

    Profile photo of simplesimple
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    August 5, 2006 - 3:32 am

    Hello All, I am new here. Was reading thru forum and have some observations to share.
    In Brisbane the rent for townhouses went up about 10% in last 24 months. From what I see it still slowly going up. But a resale value of the townhouse dropped in last 3 years from say 290K to 240K or about.

    With the interest rate movements, I think now is a great time to sit tight, try to get over loans you have quick and have money ready when market will hit the bottom.
    There are rumours about situation to repeat 1990’s interest spike. If it will and you are ready – there is money to be made on realestate.
    Just my 0.2c

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