Forum Replies Created
Supply and demand is what drives it but if you were looking at doing a spreadsheet i would raise it by 5% a year in these current economic circumstances. If economic conditions change significantly you may have to adjust figure.
I use to be a big skeptic on global warming but have changed my tune as there is just too much evidence that we are getting hotter and in my belief now i think people are underestimating how quickly we are melting. 10 of the last 14 years have been hottest on record and as a farmer who relies on temps, rainfall etc we notice this in daily events. For example we only get around 10 to 20 frosts per year now where as 20 years ago our records show we got 40 to 60 frosts per year.
The reason sea levels have not risen much is because land ice needs to melt for this to happen. So far not much land ice has melted and found its way into the ocean but when the sea ice melts (which it is doing quite rapidly as the polar bears are finding out) and then lets the land ice go into the ocean this is when sea levels will rise. For example fill a cup with water and ice, take note of level. When ice melts the level of water will still be the same however now take more chunks of ice and throw in glass. The level rises and this is what will happen when land ice melts into the ocean.
I personally will be taking into account and making my future decisions on rising sea levels. This will only be one of many considerations though.
Cheers,
Woodinator
Chris,
Go for it mate, from reading what you said about your income there should be no trouble getting a loan especially if this property you’re talking about is close to positive cashflow as this will hardly affect your financial position at all. There probably won’t be much capiital gain in the next say five years but if hold onto it long enough you’ll definately get some.
Some reasons I think it will be a good move is;
1. you are young so have time on side
2. you are not outlaying a huge amount of money so if you realise you have made a mistake you would recover quite easily
3. you will learn so much from this first purchase that when you want to do your second you’ll already have a lot of experience
4. in twenty years time it will roughly be worth $260,000, you’ll be just 39 and hopefully still have it with say 5 more residentials, a few commercial, shares for more passive income and a couple of cash flow businesses.Make sure you do your due diligence and you’ll be right.
Cheers,
Woodinator
Pete and Jackie
This is my opinion, if the landlord has not had pest treatment done in last twelve months then they should pay but if they have then I think the tennant should pay as long as the landlord does it once a year.
Cheers
Cherryapple,
I am a Destiny client and paid the $3000 yet I am going nowhere with Destiny as I have not been proactive enough myself. No fault of Destiny i think i got carried away at the time and did not think far enough ahead.
From reading Margarets books though we found out about the depreciation stuff (amongst other heaps of great stuff) and after getting a quantity surveyors report on our investment properties and showing this to the accountant we got more of a tax refund than the accountants were getting us and it got backdated 3 years so we ended up getting back around $4500 extra.
I weigh this $4500 up against the $3000 we paid destiny and say i got my moneys worth even if i don’t use them again.
I will try again with them soon though as believe i have learnt a lot in last year and are now more ready to start investing again.
So yes I would reccommend them but make sure you are ready (i gathered they wanted me to swap finance companies aswell so they could structure loan correctly – i was not prepared to do this at this stage) and then make sure you are really proactive and i reckon you’ll be right.
Goodluck
thanks Contrarian for getting back to us, have searched the forum on this and no real relavent posts on adding a carpark yet plenty on purchasing etc for investment. I think it will also be a positive although my wife disagrees hence we put it to the forum. Anyone else out there with a comment. A quick yes for add value or a no for decrease value is all we need.
Thanks again,
WoodinatorI would not touch these sorts of offers. Why would these people borrow money from you at 12% when they could borrow from bank at say 8%. It is because the banks have said no to them because they are too risky.
CheersHello sophd
Welcome to the forum, first time for me as well.
I own property in both Wagga and Canberra and although I never like selling in your case i think would be a good idea as i believe Wagga has had its run and the drought is impacting heavily on Wagga with flow on affects likely to stunt growth.
If switch to Canberra i believe more likely to see consistant growth and better rent returns. I have just got a new tennant in Canberra property for $40 more than last year. Apparently 16 different people were interested in renting it out.
I would keep an eye out for good deal in Canberra and if hold for longer term will not go wrong.
This is only my opinion though,
Cheers and good luck.
Tim
