zaph

Zaph's real estate adventures

319 posts in this topic

On 17/06/2018 at 3:19 AM, zaph said:

When I sell and know the sales price I will provide a comparison of renting vs owning this property.  

I've sold and are unconditional. I don't trust the dodgy Chinese buyers till the money is cleared and in my account.

Purchased 575k, no stamp duty, first home. 65% lvr. Break even cash flow. 4 boarders = loan repayments, rates, water etc. Maintenance over 7 years is around 2k. A few plumber visits and pool issues. Probably going to end up with around 400, 150 more than purchase. 

Everything considered, owning vs renting was around the same, with owning slightly ahead. 

If I have enough then I will buy a bed sit in the Valley. Otherwise I'm off to Santiago De Cuba...

 

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19 hours ago, zaph said:

I've sold and are unconditional. I don't trust the dodgy Chinese buyers till the money is cleared and in my account.

Purchased 575k, no stamp duty, first home. 65% lvr. Break even cash flow. 4 boarders = loan repayments, rates, water etc. Maintenance over 7 years is around 2k. A few plumber visits and pool issues. Probably going to end up with around 400, 150 more than purchase. 

Everything considered, owning vs renting was around the same, with owning slightly ahead. 

If I have enough then I will buy a bed sit in the Valley. Otherwise I'm off to Santiago De Cuba...

 

Ops. Purchased for $475k, not 575. Put in $200k, borrowed $275k, owe around 240. Sold $650. Only three boarders, not 4. I must have been high yesterday. You can do the maths.

Although I left for open homes I camped out in the neighbours yard and could see who was coming and going. Not a single white person inspected my property. Most would be Aussies of Chinese heritage. So I don't think it's a sign of Chinese buyers in the market, given this is china town. 

My buyers first finance was knocked back. The second bank approved them - they may have put up additional security.

 

 

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1 hour ago, zaph said:

...they may have put up additional security.

 

 

otherwise known as parents acting as guarantors...

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1 hour ago, cobran20 said:

otherwise known as parents acting as guarantors...

It's an investment so I doubt it. The property backs onto high voltage power lines so the max LVR would be 80%. I doubt the broker or buyer new that. They probably just had to stump another title. 

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Zaph so youre saying in this huge rallye of real estate, you bought 7 years ago and still renting is about even compared to buying?  Not much profit?

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1 hour ago, Swaize said:

Zaph so youre saying in this huge rallye of real estate, you bought 7 years ago and still renting is about even compared to buying?  Not much profit?

No. No huge Brisbane wide rally in in that time. This is not Melb/Syd.

My burb increased more than the Brisbane wide median. Luck of where I wanted to live rather than a wise investment decision. 

It's late so I'm not going to look back over the figures but my buying was much better than renting. I'm probably up ~100k for buying over renting. I suspect the Brisbane wide average would be closer to break even and in some burbs and types of housing renting would be financially favourable to buying. If I'd sold 9 months early I would have got another 50k. If i'd purchased 9 months early I would have paid $50k less. 

A unit/townhouse/apartment (unit)  in the area would have favoured renting. A lot of supply. I'm now looking at buying a unit in the area for less than the sale price 7 years ago. Probably around 15% less. There are a lot of units on the market in the area ATM and not a lot of demand. 

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Quote

Family room with two large widows.

Ad for a townhouse.

One large widow would come in handy as a housekeeper. Not sure what I would do with the other. 

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On 12/01/2019 at 9:21 AM, zaph said:

Ad for a townhouse.

One large widow would come in handy as a housekeeper. Not sure what I would do with the other. 

Can't have too many large widows on hand if you want to do major renovations or training for your next pro wrestling tournament. Would be very handy for that. Perhaps tor could find use for the widows in his martial art training crap that he fools around with.

What is more disturbing is if the major selling feature is two large windows. Wow! Two windows!!! 

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On 14/01/2019 at 11:03 PM, AndersB said:

Can't have too many large widows on hand if you want to do major renovations or training for your next pro wrestling tournament. Would be very handy for that. Perhaps tor could find use for the widows in his martial art training crap that he fools around with.

What is more disturbing is if the major selling feature is two large windows. Wow! Two windows!!! 

Today I purchased a townhouse in calamvale. two shillings and threepence - i'll be fine.

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People love to whinge about the purchase cost of housing. I got a 3 bed townhouse for $310k - great condition. as new. For $285 you could buy one that is functional but smells of Indians and needs a bloody good clean. 

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11 hours ago, zaph said:

People love to whinge about the purchase cost of housing. I got a 3 bed townhouse for $310k - great condition. as new. For $285 you could buy one that is functional but smells of Indians and needs a bloody good clean. 

awaiting response from SC on racially charged posting (though it is not).

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14 hours ago, zaph said:

People love to whinge about the purchase cost of housing. I got a 3 bed townhouse for $310k - great condition. as new. For $285 you could buy one that is functional but smells of Indians and needs a bloody good clean. 

I'll whinge because that gets you a studio apartment anywhere decent in Melbourne (and last I checked won't get you a house anywhere).

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17 minutes ago, Mr Medved said:

I'll whinge because that gets you a studio apartment anywhere decent in Melbourne (and last I checked won't get you a house anywhere).

This is classified as a 'house' in the ad and only $170K. :wacko:

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On 05/02/2019 at 11:19 AM, cobran20 said:

This is classified as a 'house' in the ad and only $170K. :wacko:

If this is a student-only accommodation then there may be restrictions on how the property is used. It is right next to Swinburne University. It's also a dog box.

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On 05/02/2019 at 7:49 AM, cobran20 said:

awaiting response from SC on racially charged posting (though it is not).

You could always report the post... 

Though Australia is the land of casual racism...

Quote

Has your friend been to Australia and turned into a racist?

18th January 2019 

ausflag-667x375.jpg

FOR some mysterious reason, friends who go to Australia often come back a bit racist. Here’s how to help them get back to normal.

Challenge their racism in a pathetic British way

If they say something dodgy, object in a polite, simpering way as if you’re doing an impression of Hugh Grant, eg. “Er, well, actually, gosh, I can’t say I totally 100% agree with that…”

Isolate them in the pub

For your sake, sit out of earshot of other people to avoid the embarrassment of them hearing your friend blathering on about “immigrant gangs” or some other obsession from Down Under. 

Also your friend may find that sitting in a British beer garden in January is a strong deterrent to holding bigoted views.

Remind them they are in Britain, not Australia, now

This is easy. Go for walks in the pissing rain, ask them if they want a cup of tea every five minutes and organise a beach party where the greatest risks are hypothermia and depression, not sharks.

Cunningly expose them to anti-racist messages

Invite them over to watch a fun, action-packed movie like Avengers: Infinity War, but when they arrive say you feel they should watch 12 Years a Slave and The Color Purple instead. They will soon regret being prejudiced.

Also replace all their music with songs about tolerance like Ebony and Ivory and I’d Like to Teach the World to Sing. They’ll be understandably furious about all this sh*te on their phone, but that will teach them not to be racist.

Be ready with an excuse

If your friend makes a prejudiced comment in company, leap in Basil Fawlty-style with “He’s been to Australia, you know.” People will understand.

 

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11 hours ago, staringclown said:

You could always report the post... 

Though Australia is the land of casual racism...

 

That article looks like an extract from an advanced PC training course.

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