deposit bonds....aarrrrggghhhh

[Sim]

deposit bonds/stupid posts....aarrrrggghhhh

Reply: 6.1.2.2.1.1.1.1.1.2.1.3.1.1.2.1.2.1
From: Sim' Hampel


Hmm... lest we get labelled SPAMers or other such creatures of ill-repute, any further "serious" organising may want to be moved to Meeting Point.

So do I take it that Yuch is unanimously voted in as official "Somersoft Forum Pub Crawl" chief organiser ?

Or should that be the "We're only looking for commercial property oppurtunities, darling, honest !" pub crawl.

Hmm... would that mean it is then tax deductible ? Might have to have a word to my accountant about that.

;-)

 

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Reply: 9.1
From: Joo Joo


Thanks for the advice splinter.

I wasnt implying that the lenders would give me money with no security, what i meant was that we borrow this security off a friend and simply return it once the loan is approved, thats approved, not commenced.

I havent been to any seminars, i'm just trying to figure out a way to keep investing, while I enjoy my superficial and it seems unsatisfactory lavish lifestyle. I have spoken to frank(mortgage broker) and he has assured me that i can borrow a deposit off a friend, get a preapproval, get a deposit bond for an otp and then return this borrowed money to the friend.

In regards to a falling market, I am looking to buy my first otp in blacktown. Does anyone know of any? could i find some with 18 month settlements? should I get a unit or townhouse? How can I negotiate to a better price? where could i find these? anyone know the blacktown market? it seemed to boost over the last year....in july domain recorded a 14% rise, but in nov a 10% rise? is this the end of the cycle? would the cycle climb back up in 18 months?

Any advice on finding otp's, preventing getting burnt, good prices,the blacktown market, how to get started and the property cycle in general would be most appreciated.

I hope this isnt asking too much especially after all the fuss that I have raised, I do hope I have not offended anyone.

joojoo

 

[see_change]

Reply: 9.1.1
From: See Change


Have been looking at Blacktown Market , also out to Rooty Hill / Mt Druitt. All the agents who I have talked to are expecting it to stop rising , but to date it hasn't. Sept 11 hasn't affected this area. A standard ex housing commision house ( in MG 's favourite suburb of Willnot) sold last week for 169 K , About a year ago this would have gone for closer to 90 K , and about 2-3 months ago for about 150.

It HAS gone up a lot over the last 1-3 years but this is because it hadn't moved up much in the last 8-10 prior to that . It has been one of the last areas in Sydney to move and IMHO most of this has been catch up. While local figures talk about Blacktown being an area that will keep on moving relative to other areas in sydney , I have my doubts about that. I personally think that the area will always tend to follow other areas in sydney rather than lead.

Personally, I would be looking at investing in the area when I can get cash flow positive properties. At the moment I haven't seen any that pass scrutiny, outside possible dual occs or small subdivisions and these are being highly sought after by investors.

Hope that helps see change

it's better to be guided by your dreams than your fears

 

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Reply: 9.1.1.1
From: Joo Joo


thanks see change