Forum Replies Created
Hey Craig,
I haven’t made enough posts in here to be saying ‘welcome’ first time poster’ but I can say I’ve picked up alot of useful info in here over the last 6 months or so.
I also can’t tell you much on the topic except from what I read in here, so I went back and found the thread I was talking about…(It starts a little ‘energetic’ but eventually gets to the point!!)
Another thread was talking about a difference with residential and commercial loans with calls.
Doing a search will get you around the forum well.
Cheers
David
Originally posted by ashrick:Hi xon,
What will happen if the property market takes a nosedive and prices fall by say 30%? Banks may recall the mortgages and require the borrowers to top up the 30% reduction in loan value.
Just a food for thought.ashrick
I’m pretty sure this is not the case with property now. Certainly with margin loans with the share market, but there was a detailed thread a few months ago where many people ‘I assume in the know’ stated banks can only start to call in a loan in the case of default, not simply by a fall in equity ratio (even if a negative occurs!).
More knowledgable members may want to back this up.
Thanks,
All interesting points to consider. Being OS the passive side of it did appeal to me.
I was also concerned with the inability to rent it out if I decide not to live in it. So this would also be a factor that would need alot of consideration.
I think I will if I take the next step, at least need to get back and step into a couple, compare with a normal IP and then crunch numbers.
Thanks again for the help!
David
I believe it is from …
news.com.au
Hope this helps!
One positive for it is, I have been looking for weeks at places in Melbourne for a week when I return to Aust. in Dec. It is in the final three, although another one in Southbank has the edge at the moment.
They look good but I hope you can get someone who can give you a more professional perspective from an investors viewpoint.
Thanks,
As I’m aging and knowing I can’t play footy when i return, golf would be something I will probably have to take up!!!
Can you list a few of what you consider to be the ‘less reputable suburbs’?
I guess this would be an opinion as some people may live in any places listed and take offence. But coming from Melbourne, it’s a well known fact that the outer western areas are/were areas that had higher crime and in your well put description of ‘less reputable suburbs’ would be appropriate I think.
That is not to say someone couldn’t live there and enjoy it.
So with the disclaimers out of the way, what are the less reputable suburbs around seventeen mile rocks (are there long rocks there[eh]) and would you agree Mt Ommaney as the pick of that area? The other thread had comments on the State School system of most Brisbane areas as being terrible. Would you agree? Research has brought up a private school in Forest lakes. I have been to Forest Lakes and it seemed an OK place? Any info on this private school would be appreciated!
David
Thanks CD,
After posting I did a search and found a good discussion on Brisbane back in April. Seventeen Mile Rocks wasn’t mentioned though. Any views on it would be appreciated.
Well said Marc1, couldn’t agree more with your technological advances saving the day thoughts!!
The artcile I read, I thought it said that the MAIN user of oil in the US by % is the agricultural sector because it is needed to produce fertilizers. After rereading it, it only breaks down the oil needed for teh agricultural sector!!
Also, for Robert, the author was claiming that this is the peak now for oil production capabilities and it’s all down here from here, long term.Now, he may be the doom and gloom predictor of the next oil crisis type of person. Only time will tell.
I’ve done a quick search and found the article, so if you are into a big read, here it is….
http://www.fromthewilderness.com/fr…eating_oil.html
Very negative I know, so read your favourite motivation material after it as a pick me up!!
I better head back to the environmental forum as I don’t seem to have gotten much on the property market in this post[guilty]
Like I said, I had no idea oil was used but a quick search came up with….
‘Using them in a solid form simplifies the handling of artificial fertilisers and means that the contents are released more slowly into the soil. This reduces the risk of nutrients leaching out. The surface of individual granules must be treated, however, to ensure that granules do not cake together or form dust. A free-flowing and dust-free fertiliser is important for handling at all stages, from production to end use.
Some fertiliser manufacturers make their own anti-caking systems, while others buy in ready-made mixtures.
An anti-caking system mainly consists of two components: an additive and an oil. Sometimes a powder of talcum or clay may also be used during the treatment of the granule. The additive, which often contains amines, plays the most important part and is also the most expensive ingredient. The oil functions as a carrier for the additive. The oil is sprayed on the granules and the powder is dispensed as needed and attaches itself to the surface.’Rather complicated but I guess a $100 a barrel oil price will make food more expensive and at some point, no oil = a massive production reduction unless sceintists come up wityh something.
A huge reduction in food production can only lead to as huge reduction in population worldwide long term….thus the relevance to the property market??
Probably not an issue in the next 15 -20 years though.
A detailed study into what oil is used for though would probably raise a lot of other questions on teh impact of a high oil price will have!!
A few weeks ago I also would have responded to the gradual decrease in oil supply with the increase in demand from continual global growth causing a massive oil crisis with concern for transportation.
Until I read a well researched report by an energy expert that in depth described how the US massive dependence on oil is largely as a result of, as pointed out in an earlier post, fertilizers.
The move into Iraq and working towards a ‘friendly’ middle east for the supply of the dwindling resource, really hit home for me when you realise that it’s not just about driving your car, or even making a huge tech. change to alternative power sources for industry and transportation.
Without the ability to maintain the food supply, all other oil issues lose importance!!
On a positive note, humans have made incredible technological advances and I’m confident as oil prices increase long term, which is a given, the consequential economic opportunities arise, as all associated oil consuming industries look for alternatives, economic and social chaos will be averted.
History is full of the human desire to make money leading to inventions and the following social change to meet the demand created.
With that, I’m off to eat some chicken and salad before we are all eating capsule food[worried]
Allan,
I would highly recommend http://www.stormpay.com as a payment processor (my user name is an indicator of my bias here though).
I thought I needed to jump in on the ‘yowcow’ suggestion though. I can tell you that there are many processors popping up as you can now buy your own payment processing script for under $30. They all lack any kind of security and are not registered in the US. Stormpay and Paypal are basically the only two!!
Stormpay does like Paypal charge a fee but it will at amounts under $500 be competitive with the banks. Free credit card funding and zero withdrawal by cheque will help out though.
The P.O. idea was probably the best cost option though (although slowest). A money order from Japan here I know its the cheapest way to do it back to OZ. I actually use Lloyds myself now as I’m sending to myself and need it to go directly into my account and the overnight deposit is better than hoping my parents don’t take off for a 3 week holiday AFTER I send the funds (LOL).
The cash in an envelope is definately the cheapest, although I have never done over $50 (and I thought it was illegal??)
I think it’s a good idea to search for the most cost efficient way, but you will need to face the reality, banking costs money … the more risk you wish to take on and the more time to get $$$ from A to B are your considerations.
Good luck with it!!
David
It is almost impossible for a foreigner to get a lease on a place here unless he gets a Japanese person to sign up as a sponsor.
On top of that it is common for 5 months to be paid out for what we would call a bond in Aust. Unfortunately unlike Aust, more than likely you won’t see any of it returned when you want to leave. One month of that is a ‘present’ for the landlord too which I believe started up after the war when it was more likely a bribe to get you and you family a roof over your heads. As investors in here, this would no doubt be good news for all of you.
So there are two reasons why word of mouth has the foreigners passing on their apartments (illegally) to friends when they leave ~ the legal difficulty in getting a place and the exorbitant entry cost.
It probably does create a great niche for those that are prepared to deal with the ‘rule bending’ foreigners.
Sorry I can’t help you with the foreign ownership question minimogul. I have friends that have bought here, and gotten loans, but they are all residents. A search on google revealed some legal information sites that would have the info if you are prepared to do the searching.
After being so long here the what used be a daily ‘wow. look a that’ when I 1st arrived, is now a ‘wow, am I happy I can get the footy streaming in on the w/e’s now or what[thumbsup2]
I’ve been in Japan for over 10 years and with DEpreciation running at around 5-8% over the last few years after the bubble burst and much bigger falls then, population falling and not much to push prices up again????
The niche ‘foreigner’ market I thought was an interesting comment though. I don’t know if too many real estate agents would want to take on the ‘noisy’ foreign renters and back it up with a foreign owner!!
There are cheap houses out where I am north of Tokyo that go for AUD150,000 to 200,000 and would get rent of around $700 to 1000. There are really old places that go for much cheaper but you have to be a resident of Japan to buy as far as I know.
It is possible I believe if done through a corporate arrangement though.
This could help
http://www.japaninc.net/article.php?articleID=1092
or just drink some sake and call it the Japan experience[suave2]
David
