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hi people,
Me and Cremin in a little dilemma that maybe a few of you could help enlighten a little.The low down…
We have about $10K saved up and plan on leaving London on Xmas day to head back to WA to start out property investing career and set ourselves up in a nice rented accommodation.
The hitch… I am no longer employed and the immigration department look like they are going to take ages to make a decision if I can stay in the country(UK). I did send my application in over 12 weeks ago, so it isn’t like I only sent it in yesterday…
It doesn’t look very good and we are thinking of possible plans for us to do.
1. Me go home and get a job to start an employment record back in Aus. Live with my parents to keep down expenses and rent and stuff (I WOULD PAY THEM BOARD!!!) Cremin would stay in London to tie up loose ends and earn a few extra pounds to top up our bank account. He could stay a few weeks.
Now if we do that, it means we will have $10k at our disposal. Do you think that is enough for a deposit on a house? We don’t think it will be and feel we will probably have to work for another six months to extend that a little. I mean we are clutching at straws at the moment.
2. The other option is to stay here and stick it out. Find a job that, uh hum, pays cash and head home when planned. The downfall to that? I am not happy AND we have to go through another bloody Uk winter…
Help!! Do you think we have enough to get moving or what else could we possibly do? Maybe someone has some other ideas we could consider.
Any suggestions would help. (And I have thought about selling my body Arty! Only jokes…)
Cheers
Steph.Success is 1% inspiration and 99% perspiration.
Come home Steph
We miss you[:0)]
Read, learn, grow but most of all do it.
But seriously,
I think 10k is not stacks of money but it certainly is enough to buy a house these days.
Give the agent $1000 as a deposit and leave the rest in ING Direct for the settlement period and borrow about 90%. Of course you will need to look in rural Australia but arne’t we all.
As to whether you come home and cremin keeps on working in the UK well that’s up to you but the way I see it is that being apart for a short amount of time, even if it is months, in teh grand scheme of things you could be better off.
Cheers
Leig hK[]Read, learn, grow but most of all do it.
Hi Scremin,
I often read your late night posts and feel like I know you!!!!! They make me smile.[]My 2 cents worth
Sounds like you’d rather be home to me.
A few weeks for cremin to stay is not so long and you can spend the day house hunting and go to bed with investment ideas that are sure to keep your head busy, while your body clock ajusts to OZ time.Just 2 things to keep an eye on
1 Talk here is that they are thinking of dropping the FHOG to $50002 Talk here in Qld about lifting the threshold for stamp duty from $80 000 to $250 000 . Whoa!!!
Of course Beatty is “Scremin” already about the money needed for the poor teachers, nurses and police.
Pity he didn’t think of that before he threw all our money on THAT magnesium plant!!!!!Don’t know anything about WA though.
Rita [
]Thanks Rita and Enjoylady.
I appreciate you taking the time to answer. Sometimes it is good to hear and outsiders point of view of things. The late night posts are coz I am 9 hours behind you!!!I know I could survive without Cremin for a few weeks coz we have done it before. It is hard, but the outcome could be a lot better.
yes I desperately want to get home and just start our life there rather than twiddle my thumbs here but you know… Well it is 12am in the morning and I can’t sleep. I think I am anxious to find out the outcome from the immigration department. I mean if it is a no go, I at least come home!! Oh, I shouldn’t speak like that. If it is positive, I am sure I can stick it out for a few months to help push us along a little more.
It’s only 14 weeks till Xmas. Did u know that?
Anyway, gonna just keep reading and twiddle my thumbs, but will let you all know if or when I go home…
gonna bum around on net now.
Cya
Steph.Success is 1% inspiration and 99% perspiration.
Well, I thought I would update you all on our situation here in London. Well it is nearly official that we are coming home.
Me first I think and then Cremin in a few weeks time. Quite upset about it all coz I thought we would come home with more money but at least now I can see my family!!!
Immigration here are pathetic losers who do not know what hard work is! I am so frustrated…. Anyway, so that’s my news. Not set in stone, but pretty certain… Ho hum.
More news later.
Steph.Success is 1% inspiration and 99% perspiration.
Hello Scremin,
West Aussie here……no wonder you want to come home and where else better to invest. 10k enough if you want to invest in regional WA, still some nice cash flow positive deals out there, we are pinning our hopes on one right now…..just trying to raise the deposit (10k FUNNILY ENOUGH!!!) and of course waiting for a reply to the O&A we put in today. Good luck when you return. See ya….sq[
]Thanks Suzie. Maybe we could catch up sometime when I get home. Discuss strategies and stuff. You know, “Network” hee hee.
Your kinds words help on a stressful day like today. I am so glad to have this chapter in my life nearly closed.
There really is no place like Asutralia, and I would definitely only bring my children up in Aus and no other god-forsaken country…
Can’t wait to get there. My dad got a little emotional when I spoke to him. He is stoked I am heading home. Funny duddy he is.
Cheers
Steph.Success is 1% inspiration and 99% perspiration.
Steph, glad I made your day – would love to catch up with you when you return.
My husband and I already have two kids (8 and 10) so we are doing things the other way round – actually travelled the UK/Europe circuit backpacking with them 2 years ago and wouldn’t like to be spending too much time in London (depressive one would think!). After spending all of our money travelling we then decided to settle into investing mode……..call us crazy, but it seems to be working out ok for us and most of all we are very determined to work smart/not hard. Our motivation is private high school fees in a couple of years and spending more time with our family AND retiring comfortably. nice chatting – see you in WASuzieQ
Hey Scremin,
Welcome home (soon). Sorry to hear about the lousy immigration people, but just a few days in the nice sunny Perth weather will make you feel better, I’m sure (although it is a bit erratic at the moment).
I reckon $10,000 is more than enough for a 10% deposit on a country IP. Get something for around $50-70k, returning a decent rental, with some left over just in case.
I don’t think you should be in a hurry to buy anyway. Take it easy, settle back into the relaxed Perth lifestyle and start doing your research.
Anyway, all the best. I’m going to bed now *yawn*
Cheers
MThanks M.
I am so undecided at the moment it isn’t funny. I am certain I want to go home and I know it feels right and everything like that, I am shocked that I really would be leaving.
I am going to give it one more go tomorrow to look for a cash in hand job. So that way at least we still go home at XMas time… My friend has even offered us free rent just so we stay! How’s that for a mate???
Anyway, more of the saga tomorrow…
Cheers
Steph.Success is 1% inspiration and 99% perspiration.
I just immigrated to Australia from Canada. The system surprised me! Piers (Quasimodo and also Australian) was Australian, not even living in Australia, and unemployeed (illegal for him to work in Canada). I applied for spousal immigration and had an answer within four weeks, and the final papaerwork in six weeks.
We put weeks of effort into our application, had a BOOK of emails we had sent over our relationship, christmas cards, and a story illustrated by photos to back it up.We even included our wedding invitation! The not working part was explained justly as Piers wanting to be with me to support me in the immigration process. We even went as far as giving them the date we wanted to leave by. They came through and even made a personal call to let me know it was approved and on it’s way in the mail!
Anyhow, I shared my story to give you hope! It is possible! And I can fully understand why you’d want to come back!! Australia is wonderful!!
Cheers!
Sheryl DuruzBrisbane QLD
[email protected]Scremin, it is possible to get a 97% or even a 100% loan.
Now if that is your first home then you would be able to also obtain the $ 7 K government grant as well as a reduction in stampduty.
Thus your $ 10 K may enable you to buy a second property ?
Now all that assumes that you have a job to support any shortfall.
To obtain a loan the lender would generally be looking for stability in your employment record.
Some people of course actually fudge that a bit though that is of course not at all what I am suggesting you do. I mention this only out of academic interest.
Generally a couple of recent payslips would be sufficient evidnce for a lender. Expect however that the lender will make enquiries whether you are actually emploed where you say you are employed.
Your gross job income together with 80% of any rental income would be taken into account by the lender.
Now if your friend is doing the same then between you you would be able to buy four properties ?
What income is needed to qualify for a loan ?
Well, as a rough rule of thumb, if you take 8% of the loan amount, multiply that by 3 then that amount should not exceed your yearly gross income.
Cheers,
Pisces133
[xx(][
!]Well, here goes. I gave it one last go and low and behold the british government basically gave me and cremin the two finger salute. The funny hting is they kept telling me that my application was “Being considered” but when I received my passport back it had been stamped back on the 13th of August and only needed a date on teh stamp to validate it. They were just being pompous pricks justifying their jobs by pushing paper a little further and from one department to the other so it looks like they are working. YOu want to know the hilarious thing? I rang today to check where all my documents were so I could seem all knowledgeable and that way it wouldn’t take so long to pick up…Well that was dumb coz the time it took me to catch the tram to Croydon and wait in line, our passports had magically picked themselves up and not only changed departments…THEY HAD CHANGED BUILDINGS!!!! How’s that for a rort? I waited for 6 hours at the home office to pick up my passports. You didn’t read wrong. 6 HOURS!!! Ridiculous or what!!!
So I am heading home on Monday or Tuesday and Cremin will come home in about three of four weeks time.
Yay! I get to see my little doggy! I can’t wait to see the little mongrel. Oh yeah my family too… They come into the picture eventually too.
So there you go people. The Uk odessey is over, the strange late night replies form me will cease as I will now be vaguely in the same time zone as you lot. Well, once daylight savings kicks in it wil get wierd again… Hee hee.
ANyway, looking forward to perhaps meeting some of your Sandgropers.
Cheers everyone for your support and I will keep you posted about any developments along the way.
Steph.Success is 1% inspiration and 99% perspiration.
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!]The topic ‘Need some ideas or help? Psychiatric? Naaah…’ is closed to new replies.
