5491 replies to this topic

[Morgan]

[skillionaire]

[Morgan]

This line baffles me, but I know nothing of the NSW market.

Which way does it baffle?

As in too much rent or not enough?

At the moment, my mate pays $360 for a 3br place one street back from the beach. It's got a few nice features like an airconditioner and floor boards. But it's old and small and ugly.

Around the $300 mark is pretty standard around here

[skillionaire]

Fair enough. You're pretty keen on doing the study etc, go for it.

Don't forget there are places outside your immediate vicinity though!

[B4TT]

My unit is about $320 a week, market value is about 450K on the place.

[B4TT]

Nik, sent that link to my work email, shall check that out tomorrow. Looks like it will be an epic read
One of the blokes I work with will be keen to check that out. Everytime winning lotto is mentioned he says "we retire... we get on the plane and rock up at singer HQ and get one"

[skillionaire]

Indeed. Sierra Nevada Pale. Pretty nice this time of night.

[TSG]

At least the cops are doing their job, but I am starting to wonder if everytime I drive at night, whether I am going to get pulled over for a 'random breath test' by the local Camry with female officers. Rude this time too, apparently she didn't like how I took roundabouts. I don't drive at night often, but as the taxi again tonight, I was pulled over again with passengers. I am starting to lose count lol.

It is roundabout heaven here so you kinda find the fastest lines through them. They couldn't ping me on anything as usual and let me go after spending forever obviously running my car/licence through thier system once more. Thanks for wasting 10min of my time again, now to do some night work

[portugese_gorilla]

When i was on my Ps everytime id be driving at night i would get pulled over for a 'random breath test' since ive had my fulls i havent really been pulled over at all.

But it could be where youre coming from at my old job most nights after work id get pulled over because my work was next door to a pub and they be sitting there waiting for people to exit the carpark

[TSG]

It's very quiet here, there is only 3 police vehicles that I know of. I think its just that I am literally one of a couple cars on the road at that time of night, and thats when they are doing the rounds of the main roads.

Just unfortunate she had to be a real bitch about it tonight, they were friendly enough the last few times. I'm on my opens, but I will say that a mate of mine with a Targa-top Supra has been pulled over way more often.

Spoiler

Are you in a hurry? *was doing 65 in a 70 zone*
Is that how you normally drive? I am not happy with how you drive through those roundabouts... *ok thats pretty vague, jelly of mah awd turbots*
License please. *sigh... bitch better not fine me, was driving like a granny*
Buggers off because phone, other officer does breath test, she seemed nice enough. Returns again with licence in a huff. * Ben in back seat, "she was pretty f'n rude..." *

[portugese_gorilla]

Some police just ruin it by being completely up themselves and ive seen them wait at a roundabout for someone to pass so that they can pull them over i think they get bored

[ams]

I get bored at my job too, have been known to wait for work to come in.

They have a job to do, just let them get on with it.

Done nothing wrong? wont get in trouble. easy.

[Ren-dog]

So far i have never been pulled over. Mate got done for "Unnecessary noise" when he lost traction in the wet before the traction control kicked in, Technically that ticket could have been taken to court (this mate is the 180kg one... so he is lazy.) it was a $360 fine... it never exceeded the Db level, i know because i was in the car, and it was literally just a chirp. (also the car was completely stock at the time)

[B4TT]

Haha the dude sounds sooo much like bear grylls

[B4TT]

haha holy crap, this greek politiciany dood looses it on some chick in a debate

http://www.news.com....i-1226388554178

[Shaz]

PS. Shaz, did you see my life post?

Nope? Linkage?

After reading this last night, I was intrigued and looked further into it. Crunched some numbers and there's no way in the world I would come out on top. I would be interested to get your idea on how it would work Mr Shazerous.

For eg -

$300,000 property with a $15k deposit = $285,000 loan and about 6% interest (your 5% figure wouldn't hang around for the entire 20(?) years....

Tenants might pay $300 max a week to live in a $300k house?

After rates, maintenance, loan insurance, and all other costs, I wouldn't even cover the interest repayments let alone anything off the mortgage!

I wouldn't be able to use the parents place as a guarantor either as their equity is tied up in a zillion other things...


The plan is just to save now as much as possible. I'm going to start studying now that I know what I want to get into and I've found a course which works around my work schedule. This way we should be able to stay ontop of things and be well on our way to a house deposit within the next few years

They can't guarantor it at all? No equity?

Lets say you buy a place for $300,000. You need about $12k for Stamp duty on top as well. So $312k purchase price.

312k x 80% = $249,600.

Loan of $249,600 + your paretns guaranteeing $62,000.

Mortgage payments on an interest only variable rate is $249600 x 6% / 12 = 1,248/month in repayments.

Divide that monthly figure by 4, and you have a home loan repayment of $312. Rent it out for $300, and contribute $12 to your mortgage every week. Watch it increase in value. By the time it has either increased by $62k, or you've paid off $62k, the guarantee from your parents gets released, and you have a standalone mortgage, with a tenanted security, and the mortgage is costing you $12 a week.

Even if rates went up to say, 8%, your weekly mortgage payments would still only be $416.



Obviously, the above scenario relies quite heavily on your parents ability to guarantor you or you saving $62k deposit.

[Adam]

Adam laughing at his missus' computer skills, can't install windows.

Incorrect, Sir. Obviously didnt read my question

[Ren-dog]

Dafuq is a "guarantor"?

[skillionaire]

Yeah I did, just having a giggle.

[B4TT]

^^ Cool. I want a house.

Dafuq is a "guarantor"?

Google search it.