Forum Replies Created
- M3 wrote:Quote:
M
Go back and reread all the posts. Especially yours – you were asking to borrow $250,000 based on a security of $150,000. It is a business purpose, but you don't want to tell the bank that because they won't lend. What else can you do?
Who is borrowing the money? you or your partner's parents?
That was the original plan but it was not possible.. What else can I do? Thats why I'm asking.
My partner's parents are borrowing the money on behalf of me.
Yossarian If the business fails, I'll sell it at a lost and I still have my job and my partner will get a job to pay back the rest of the loan. I think you heard alot of these deals not seen… It's only 100k, the banks not going to take the house unless they miss repayments. They know the risk involved.
This is getting side track. I don't think I can get a proper answer. Line of credit as Qld007 suggested would be the best option I guess.
I work in the lending game. I haven't "heard", I've seen and done
They invariably follow the following pattern:
*child/child's partner want's money to great business opportunity (has existing business in trouble, expansion planned or buying new one) but has no cash.
*parents (generally loving,naive, optimistic and/or NESB) are keen to help.
*parents mortgage property on promise by child/child's partner that they will pay the bills no matter what happens
*business goes pear-shaped
*debts go unpaid as do parents/parents-in-law
*parents/parents-in-law fall behind on mortgage
*bank takes property
*legal bunfights ensueIf you can't buy it, don't.
alani wrote:are australian banks short of capital at the moment, umm, I dont think soSure…they're out there doing/planning capital raising purely for fun
ummester wrote:Yossarian wrote:Yeah, all those atmospheric scientists driving Ferraris, theoretical physicists sunning themselves on yachts and molecular biologists skiiing in St Moritz.They're *clearly* in it for the money
How about in it for the industry? Proof of future employment? Convince the public that there is a reason to need the scientific community and not opose the grants.
Also, like Harb noted, there is a political side to this. Governements need a crisis to keep the public in control. The right has opted for terrorism and war, the left likes the environment. Either way, it isn't so much about making individuals rich as it is about convincing the public that there is a reason for those individuals to be employed.
You appeared to be implying (correct me if I'm wrong
) that there's a bunch of scientists knowlingly telling porkies in order to make a quid and that scientific endeavour is akin to any other profit making exercise. The fact that the vast majority of scientists are academics and public servants earning well less than the average RE agent is sufficient to put the latter to rest and if you were familiar with the nature of peer-reviewed research across the scientific community you would know that the former just aint possible.Nw just because you're paranoid doesn't mean people aren't out to get you, but it isn't a bunch of atmospheric scientists in lab coats.
*sound of black helicopters hovering menaciingly outside*
Yeah, all those atmospheric scientists driving Ferraris, theoretical physicists sunning themselves on yachts and molecular biologists skiiing in St Moritz.
They're *clearly* in it for the money
harb wrote:foundation wrote:I think I've been very measured in response to the provocation, aggression and outright lies from yourself and your buddy harb?provocation, aggression and outright lies ? That's not a very nice thing to say about your buddies.
I was looking forward to finding out the reason they kicked you out ,Quote:. was there any particular reason you've had to change your username there ?was it because you were too bullish for them ?
Quote:How is the silver going by the way , has it made it back past the USD10 yet ?Wow, holding silver for 4 years with no returns, no tax advantage and very little if any CG. I guess it could have been much worst, you could have taken a loan to buy the silver.
Shame about not putting your money to better use back in 2004-2005, like getting a loan to buy some some properties in SA or WA before the boom there. If only you asked someone in here at the time ….
On a 5% deposit, you could have made a killing and received a regular return on your investment along the way. Now you'd be sitting on 2-300% capital gains and positively geared properties that your tenants would be paying off for you. Much better then having sleepless nights or nightmares about Jack Sparrow digging up your backyard in search of your treasure chest.cheers,
Harb,
You're not covering yourself with glory here
) that there's a bunch of scientists knowlingly telling porkies in order to make a quid and that scientific endeavour is akin to any other profit making exercise. The fact that the vast majority of scientists are academics and public servants earning well less than the average RE agent is sufficient to put the latter to rest and if you were familiar with the nature of peer-reviewed research across the scientific community you would know that the former just aint possible.
