Forum Replies Created
Hi Kay,
NO WAY !!
]We had finally found our dream horse property on 20 acres. It had great fencing, stables etc.. The house was just right, with great entertaining area. We had only lived there 11 months.
We have gone to no dishwasher (after having one for at least the last 5 yrs), no ensuite – (dito) 30sq home to approx 13 sq home. We had to ditch half our furniture. I now have no office, and this is tricky at times, as we run a large farming business. We are now renting on 25 acres, but the fencing is old barbed wire, and we are replacing it ourselves – expensive…. We must be dream tenants, but one of our horses recently got caught up in the wire and almost died. It’s times like that, that you have second thoughts…[
]It will all be worth it in the end – we are sure!![:o)]
At least we are not using a line of credit any more. The bank was getting all of our profits. Now it is coming back to us!!
We did this because we were selected onto Steve’s MAP program. It was something that doesn’t come around every day. We had to seize the opportunity!!
We have no regrets selling our home, although at times, we miss our old home! Everything we had was lifestyle stuff. We are not snobs, and so don’t mind sacrificing them, if it means we can achieve a less stressful working life in the long run. If we lose everything tomorrow, we will simply start again. We still have our health, and our love for eachother & kids. This is what is important to us. Bricks & sticks are simply bricks & sticks….
Regards,
Del
Hi Damien,
Welcome to the forum!
I have recently done what you are talking about. Sold our home (in November) and using the money to buy +ve cashflow property. It is working very well for us, and we are building our portfolio quite quickly now.
It is a very personal thing for each person though. I would not like to suggest to you to sell your home, especially if you are expecting your first child in July. I don’t know you, and I don’t know your goals in life. This is something that you both need to consider very carefully. It is a lifestyle choice, over an investing choice. A bit like comparing apples to oranges.
Once you rent, and spend all that equity, it may be a little while before you can afford to buy again.
Prices are beginning to slow. I personally believe that there will be some great bargains coming along perhaps at the end of this year. At the moment though, I would not be buying my first cashflow property and risking my home to do it.
Good luck with the big decision, and the impending parenthood![
] Let us know what you both decide.Regards,
Del
Hi Paul,
Just a couple of points to consider…Sorry to be a wet blanket! [
](1) Have you done your proper due diligence on the town? There are quite a lot of severely drought affected towns in Victoria, that are really declining. What is the population? Are people moving in, or moving out.
(2) If you get a 105% loan, and the property value decreases, you will be in a position of owing more money than the property is worth if you are forced to sell. I only ever do 80 / 20 loans, which enables us to continue buying more property. I really believe that with the current property market, you would possilby be taking too larger risk, by borrowing 105%. My opinion, for what it’s worth, is if you don’t have at least 20% deposit – walk away. There will be lots of great deals coming….
If you have done all your homework, and it feels right, then go for it, but don’t just believe everything that an agent tells you about rents & vacancy rates etc.. They are simply there to sell the property.. Not to do you any favours.
Good luck,
Del
[
][]Sorry I forgot about the “No Advertising” rule!
[
][]Going back a few years now….I used to go to the MCG with my girlfriends just to see Hooksey play. He was the best and the blondest [:X] (Warney was too young then).
It is a disgrace for the crowd control industry. Lets just hope that they open their eyes to what goes on, and get rid of the thugs [}
] that call themselves “security” and take some responsibility for the behaviour of their “staff”.I hadn’t had the pleasure of meeting him in person like Richmond has, but I’m sure that this loss is really affecting a lot of Australians.
Del
Hi Kyl,
We have managed to purchase 2 blocks of units since about March last year. One is a block of 4, the other a block of 5.
The block of 4, we only got because we happened to be in the town looking at houses, and it was basically snapped up before it got listed, and the other block of 5, we found in July 03 on http://www.property.com.au – It had been for sale for about 2-3 weeks before we got it, with little interest. Just as we looked at it, the rest of Australia found them also!!
We don’t need a body corporate because we control all units.
Hope this helps,
Del [
]Rebecca,
The MAP was to get the people to “control $1mil of property” not become a “millionaire”.
The Map is going very well, even though the real estate market has changed dramatically in the last 6 months or so.
I haven’t replied to your posts earlier, because I thought that your posts didn’t really deserve a reply.
As far as your comment “they were ready to go public to be accepted”… Well, Today Tonight actually come along well after each person had been accepted. We agreed to do Today Tonight and possibly will again soon, if it fits in with what we are doing. We are all in the MAP to buy property, not become TV stars.
Del [
]Hey Fullout,
That’s an easy one.
Stuart from Prosolution is by far a league above the rest. He doesn’t seem to frequent this forum much lately, but I know he has been super busy.
You can find him at http://www.prosolution.com.au – We have used him several times, and when the going gets tough, the tough get going.
Good luck,[
]Del
Hi Westan,
Thanks for the email tonite… Please email us your mobile phone number or home number in NZ (when you get one).
Best of luck with the big shift. I admire your courage, taking and uprooting a whole family. It must be very exciting for your kids and a bit stressful for Janine.
Keep smiling, and hope to see you all over there one day soon.[
] Don’t forget the thermal undies..[]Enjoy your wonderful adventure. I’m sure it will be something you will have fond memories of for many years to come. NZ is a beautiful country.
…See what happens when people say “how can it be done”, and they just make it happen, instead of most people who simply say “it can’t be done”…[:0)]
Merry Xmas & Happy new year to you & your family,
Del, Will, Sarah & Chloe XX
]
]
] Let us know what you both decide.
][
]
