BadgesI think you will find that there is not Aust. Gov. backing or gaurantee on your money in the bank. Rudd was asked a question on TV last night re. are Aust. banks save, and he never said they were Gov. backed only that they needed to meet certain criteria and need to have funds in reserve. Do you remember Pyimide Building society, that was…[Read more]

I am aware that the Government provides guarantees but it’s only up to $20k per person max. BadgersIm intrested in this also, who told you that the Aust. government guarantees bank funds and the 20k only intrest me also. Currently I feel Im not the only one concered about our money in the bank. Lets know your source for this info. if its po…[Read more]

Thank you both for your input.  K  I beleive you are correct but how does the purchaser know what the " not taking offers under figer is" the true one that is.  Yes buy passing them does piss them off, strange breed real estate agents. May I ask why you said Make sure you have got a copy of the Section 32 before you sign any contracts. I would th…[Read more]

CalvinciThe contract is a major part of any deal. Unfortunitly some times people dont keep their word. I soulds like you are having a bit of a problem with this beam, may I surgest a couple of Jim Beams and a few deep breaths lol.  Im sure after you move in and the place has settled it wont be a major issue. However, you are intitled to be…[Read more]

Problem 2. Worried about putting in a offer in case they laugh at us. My dear friend, problem 2 is not a problem. The agent gets paid to laugh at your offer, he/ she wants to make you feel as uncomfortable, foolish, inexpirianced, uninformed as they can. After all they dont work for you they work for the vendor.  If you think they laugh at your o…[Read more]

quote=mackar]IMO,  most purchasers believe the house they wish to purchase is overpriced… !![/quote]Yes Mackar I think you are right . This is what Ive expirianced in the past, but it eventually sells ( to someone elles). I may be forced to pay the extra they are asking and be done with it.JonMy offer was going to be totally unconditional. I fee…[Read more]

bespockeTo me it sounds like you are doing your home work and thats the most importaint thing. Its only you and your partner that need to make the desishion. The good thing is you have not siged anything yet. Gut feel can be a good indicator as long as you dont get emotionally involved with any of the properties. Do your sums and consider if you…[Read more]

 Adam & kathlynvkathlynv wrote:

IMO people want to see a trend of drops before they really start to believe it enough to go out and buy a home / houses – the next 12 mths are a great time to go shopping for property – in 2013 you'll look back and say "good job I went shopping"!!!Hysight is a great thing, I think most people look back (inc.…

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ChrisGood question mate. IMO as was mentioned .25 will make no diffrence its like 60 per month on a 300k morgage, $15 per week. So do the sums 1 % may start to make things move a bit.  Dont forget bank shares are very low can they afford to lower home loan rates just because the reserve bank says they should, IMO no.  People have too much debt a…[Read more]

calvinciCongrats on your new purchase. I think you need to look at things as they are. A few hair line cracks, the place is 30 years old man. This is common even in younger houses. Larva damage, your inspector should give your the correct info, as your are paying him/her. If its not major, only 2k, so its not major at all, you just get it fixed. …[Read more]

ScampMogagee in posetion will not take offer before Action. Yes Im with you in some cases. Ive seen people do some strange sh#t at actions, specialy morgagee. Im doing a lot of work before the action and setting my max. and i will stick to it. Unless I get it for 1/3 of CMV in not intrested.  With todays Inflation figures higher than expected I t…[Read more]

Re    Singapore  "  With a maximum of 20% tax rate in Singapore, ZERO capital gains tax on property OR shares, and NO ESTATE DUTIES, it is extremely attractive as a place for wealthy investors who are savvy enough to see the benefits."Not to mention the babes.Maybe we should chip in and buy Kevin Rudd a plane ticket so he can get a few new idea…[Read more]

SpongeI will be the devils advcate here just to create a diffrent view.  You have 70k in equity in you home.     "We also have a small amount of money saved, about 20K" Not to be rude but 20k not much nowdays. As investers we all agree on the following Intrest rates are going up. Property is flat or going down (even real estate agent cant hide…[Read more]

SavMate, dont be disapointed. Keep a clear head and dont get sucked into this property investing thing. Focus on the facts, it was a shit hole ready to be condemded. If you had of "fixed it up" the tenants have the right to live in a livable & safe house. You would have been there every weekend fixing things up. Sav 25k is a small deposit then you…[Read more]

KThanks thats what I felt was the situation. I know im cristal balling a bit but I dont want to live next to units. I feel the council will say YES to any development. These blocks are large and anything over 1000m draws the attention of developers, most First home and owner ocupirers dont want a 1000m up block. There are others in the area the…[Read more]

SavHang around the shopping area for a few hours at night and tell me how you feel. Yes I can see some positives in Deer Park and it location to CBD also, but it has a few downers. Its reputation is not that great (but as an investment is this something that we can account to $$). Demolishing is costly so basicly you have a 700 2m block in the…[Read more]

dosqShould I stay or should I go. Lets have a look: You paid $397,500 (you did not say if this was inc. stamp) morgage 253000 your imput was 144,500 of you own cash.  Lets not forget your opertunity costs, @ 8.4 T.D. at the bank this will get you $12,138 pa no risk before tax.  Rent income 1,897 expences 1,874  a mega $23 positive before tax. If t…[Read more]

Matt007If you learnt anything from the get rich quick seminars it should have been to start running your own, print up some pie charts graphs, some nice business cards and just talk a lot of shit even employ an ex realestate agent to help out. Mate most of these things are run my sales people not academics. The money you spent could have been put…[Read more]

woogy wrote:
Im going to sum this up simply. From a quote i read."The best time to buy is before tomorrow"

WoogyWas that book writen by a realestate agent by any chance.

ScampI had the same thourght today Im buying into a falling market. I sat on my hands when it was going up and now I need a place as a PPOR.  I lost money not buying 5 years ago and now I may loose again if they go down further. I know you are 100% convinced they are going to drop, thats fine Im not that sure. As an investment  it makes no se…[Read more]