Forum Replies Created
Mono
I will move on – when I am happy to move on.
How about stopping your subjectivity?
Here are some of your annoying subjective posts –
“And besides, it doesn’t hurt anyone??? So get over it Yack”
“whether you or I like it or not, that’s just the way it is….MOVE ON!!!”
“Splitting hairs again Yack??”
If there is no sign – then there will be no enquiries.
Pretty simple.
I dont really see how any real estate agents sign adds to the amenity of an area. In my view they are an eye sore and the sooner they are removed the better.
Agents just love the free advertising. As far as I am concerned as soon as the property is sold unconditionally the for sale sign should be removed.
Its only left there with a sold sign on it so the agents can get a bit of free advertising.
Monopoly said – “however obligated to put a “sold” sticker up once the full deposit money is paid.”
Why is he obligated? I know its common practice to display a sign and put a sold sticker on there. But what is the obligation – is there a law or something?
I expect lean times ahead too. I am consolidating. I am a very good loan/equity ratio ie. I am not over geared.
I will wait for opportunities and as Jan Somers says – buy when you can afford it.
I can afford it now but would rather wait for prices to fall a little like they will when interest rates rise again.
Those that have a PPOR mortgage and investments loans will start to sweat a little i reckon.
My wife is Canadian and my understanding is that my sister in law and her husband saved their deposit for their home by putting it in super and they got a tax deduction for the super contributions.
So once they saved sufficient for a deposit the super fund would lend them the money to buy the house. So they in effect have a loan to the bank and pay interest to the bank and the interest on the deposit is paid to the super fund.
Whats $80k when the average homes in that area are $1m.
We live in Aspenndale about 400-500m to the beach. I have oftenn considered buying one as we are walking distance to the beach. Now they are around $60k.
No need for us to buy a beach house holiday home. My wife goes we should buy something up bush – we live near the beach why buy a holiday house near the water.
Those beach huts are ok.
I would like to buy there one day.
My wife is Canadian. You need a 35% deposit.
However a friend of my wifes family reckon now is the time to be selling not buying so he was no help for me. He also reckons the longer away you are the more they take advantage of you.
They dont have property managers like we do attached to estate agents so finding a property manager is difficult. I found one who does it as a weekend type thing.
Now i have decided to concentrate on Aussie only and may do something when my sister in law can go halves in something.
Wages figures blew out in the Dec quarter. Rates may be on the rise. i would love to see a .5 to 1% rise over the next 18 months.
ibuycashflow
Thats why i love property. Inflation is your friend. In your example you have doubled your original investment and you now own a greater proportion of the property.
eg. $10k deposit on $100k property – you own 10%of property.
NOW –
$110k property and now $20k equity – you now own 18% of property.Good thread.
Smethem and others have summed it up well.
Population growth in an area with limited supply will always appreciate higher than inflation.
Your statements have been very general in nature. I would never compare St Kilda to Cranbourne.
If you buy something today I would expect a little longer than 10 years to double now.
To those who have properties that pay for themselves, then inflation is your friend. The higher inflation the quicker the property will double. However holding costs are higher ie.interest rates.
I am not really sure about property having a return greater than inflation. But I invest in areas near the beach, public transport and within metrolopoitan Melbourne. So I know they will exceed the rate of inflation. As for affordability and wage growth – these areas will require a higher income to live there.
But the best thing I like about property is the time value of money.
When I buy a property today that is the price I pay for it. In 5 years time you will think how cheap that price seems today. You will say I should have bought more of those properties. It looks so low today compared to what a similar property costs now. Do you remember as a kid how many mixed lollies you got for 50 cents. You can also compare the cost of that property to what your income is 5 years later. You will be able to service that debt easier as your income would also have gone up in 5 years.
Julia – Any response from your CPA’s yet.
Can you also explain how you can become a CA by just filling out the forms?
I am under the impression that a CA can become a CPA by just filling out the forms.
Julia said
<<<Thanks for the information. I have sent it to the CPAs and asked why.>>>
Any response yet?
My rent cheques are usually banked in my bank accounts by the 15th of each month. If there is no rent cheque I call the agent and ask why.
I would never let a problem last longer than 4 weeks. If renter has a history of being late I am in more regular contact with the property manager.
I enjoy reading his stuff.
I enjoy reading stuff from real esate agents, mcknight, spann, somersoft, wrappers, banks, valuers, economists, investors, real estate institutes, ASIC, newspapers etc.
At the end of the day, I make up my own mind. Everybody has vested interests.
Let me also add, back at the last vote I had just finished becoming a CA. I spent long hours in the office on weekends and evenings studying when I could have done other things.
I did not feel that CPA’s put in the same effort.
Now 10 years later I really dont care if they merge.
Why does everyone want recourse?
Out by a day. At least the settlement agent will be more responsive to you in future and will look after you better in the future.
Are you really out of pocket except for the hassle? No use raising your blood level. Have you never made a mistake, been late forgot an appointment.
Why dont we be like the US and sue for everthing.
Very emotive Julia.
What I said probably is a crock. Who cares. CA’s like to think they have an edge hence the fees those larger firms can charge.
I do not work for a Chartered Accountants as I work for a commercial company as an IT systems type accountant.
So either body does not really do much for me. I could join as a CPA too. But as you say why?
I only keep paying my subscriptions as thats the training i did after Uni.
At the end of the day there are good CA’s and good CPA’s.
Just look at their experience and see how they can help you.
Chartered Accountants – But being a CA I am biased.
I recall a number of years ago (could be 5-10 yrs ago) they tried to merge the two bodies. But us younger Chartered Accountant members who did their PY (Professional year) did not want to merge as we perceived ourselves to be better.
I am not sure if CPA’s now have similar training or not now.
