This argument is a load of crap and a very superficial statement. It in no way covers all the interrelated elements of investing. Did you happen to buy the right shares or properties? Did you buy the properties in the right locations? How was your timing? Maybe you got in when the market was near a peak in one of those investment areas.I…[Read more]

Thanks for relating your experience, K.Banks tend to be very rigid in their thinking. To take an extreme example:You could show the bank you have $20 million in net assets (shares say) with no income because it is all reinvested. OK, it is income, but it doesn't go in the bank as cash. Now, if you say to them you want a loan, they'll say you can't…[Read more]

Thanks for all your input. I appreciate you telling me about your situation as an example, Linda (millions).JonI won't say I hate my job. However, that's all it is – a job that makes me money for investment. Career aspirations went out the door some years ago. What I don't want to do is continue working until I'm 75 like we have been "encouraged"…[Read more]

I'd like to revisit my post and see if anyone else can further enlighten me.Let's say I have $200k to put down. Therefore, according to the gurus, I can control $2 million worth of property. Now, to the minor detail:Who will advance me $1.8 million and how do I service it? If you have the experience, please give the rest of us the nuts and bolts,…[Read more]

Sounds like comparable sales, growth trends and current state of the market appears to be the best means. Then in a negotiation depends where you meet on price, I suppose.What about the age of the home? Contemporary design built in the last year v brick or timber house built 30 years ago? Which is the more valuable and why, all other things being equal?

I've found this thread quite helpful, so thanks for your input so far.I am new to property transactions, so excuse my ignorance. I gather every property that goes on the market has an associated contract of sale with the agent. So if I'm interested in buying a property, I get the contract and give it to my solicitor/conveyancer. Would that…[Read more]

OK, when you say a written offer, you mean you go to the agent's office and sign a contract for the property, or some other form, or maybe I "scribble" my own offer on a piece of paper? It usually includes a sum of money, yes? 10% sounds ridiculous on an initial offer, but you tell me from your experience the norm.So let's get to the crux of the…[Read more]

Thanks for the insight, Jon. Let's say a verbal offer is made, accepted by the vendor and there is no follow through to sign the contract. What is the loss to the vendor.? Nothing, as far as I can see. I can certainly understand how a signed contract with a significant deposit would be seen in a better light. However, I still think that all…[Read more]

I am led to believe you should make a written offer, otherwise the vendor won't take you seriously. I don't agree. Why can't you make verbal offers? Buying a property should be no different to the bargaining you do when buying a car or TV, for example. Making written offers appears a somewhat time-wasting exercise, especially if they want you to…[Read more]

Found out the EFM isn't very widely available as yet. Not even in every capital city. I'm interested in purchasing in Toowoomba. You'd hardly call this the backblocks with a population of over 100,000. I guess still being relatively new it will be more readily available as time goes on.

OK haz, so you reckon the Liberals are responsible for all this? Let's see Rudd work his magic and turn it all around. This'll be good to watch. I'm gonna take a punt and say things will continue in the same direction.

I don't care about the intimate details and don't want to argue about it. It is known as an equity finance mortgage and what you are saying sounds the same as what I'm saying. What I'm interested in is if anyone has used the product. The product is new and was only introduced this year.

No Richard, it's exactly as I stated – Equity Finance Mortgage – and it works as indicated. Do a search on the internet.

Thanks for the feedback.I am somewhat inexperienced in this area. It's also a bit like when doing your tax, someone asks who is your accountant. I have never had an accountant in my life. So if I am thinking of buying a property, do I immediately get in touch with a solicitor for guidance? Or is it when I have chosen a property? How does it work?…[Read more]

kokjhoonwong wrote:
OK I voted for Liberal but you will be shocked to know why I did it. So I am not telling. Very often that speculators are wrong especially a financial planner who I grilled the other day. When a guy like (R. Kiyosaki) who is worth so much and stand besides some of the best, I think we should at least listen.Being in this…[Read more]

Come on kokjhoonwong, I think people in this post are just commenting on how they see the new government, not so much complaining about how it affects their investments.As far as 5% interest rates are concerned, I'm only drawing a conclusion from the blurb that the Labour Party went on with leading up to the election.  They continually rammed it d…[Read more]

So Yossarian, you believe, given time, Rudd will turn the current account deficit into a surplus?He's going to bring interest rates below 5% and make it so everyone can afford the house they want. I'm looking forward to this. I'll hold off buying my townhouse for the time being then.

I expect interest rates to be lower in six months to a year. Labour pumped the Liberals about how interest rates have been increasing. Let's see what the "miracle worker" can do now the acid is on him.I hope we don't see unions raise their ugly heads and set us back 20 years.And I don't want to hear about how it's the Liberals fault for the next…[Read more]

I am an industrial chemist and have worked in the mines almost all my life – over 20 years. When I graduated it was simply luck of the draw as to what industry I ended up in. As a graduate you take anything you can get when you have no experience. It was my good fortune to get my first offer in mining. Never have I regretted it. If I had ended up…[Read more]

islandgirlI doubt you could class Margaret Lomas a dream stealer. I'd say she's more like the voice of reason. I tend to agree with most of the comments in this post about finding a strategy to suit you. When you are inexperienced you don't want to fall into the trap of becoming a romantic. This is when you take everything you hear, particularly…[Read more]