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The Sa Wasteland

Cubes

By Cubes,
in South Australia

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Ryanrb25
Ryanrb25

i went for a hills run last night in the 31 with the roads very slippery.....was much fun. Had to bed in the bottom end bearings so yea..took it for a strap.

DSTROY
DSTROY

Hey Ryan, do you know how to fit a set of drop spindles to the front of a hilux???

Madaz
Madaz

Dam straight Damo would rather do SAU them heroin gts4 are 4.1 because they share the same parts from the gtr i think r32 gtst is 4.3 because of the lack of torque from the rb20

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Dohmar Grand Master

Dohmar

Posted
Posted
well i cant afford to get into the market, even if i had 0 debts, the banks will still only offer me around 190. so now im waiting until the next perfect time to buy, lol

Same. The only way I could get a house in this market is to borrow from my parents or become guarantors. Would love to know how you get offered half a mil

-D

TALBO Grand Master

TALBO

Posted
Posted
my bank will give me up to $500k. which is sort of crazy considering how much i earn...

If they would lend you that much they obviously think you can pay it off at around $2500-2600 a month.

The best thing you can do also is get as close to the 20% deposit as you can and eliminate mortgage insurance and any possiblilty that you'll get penalised with absurd interest rates.... Even only having to lend 85% can make a massive difference.

SLED Grand Master

SLED

Posted
Posted
yeah, its pretty smart thinking in that respect, but it does make it fairly difficult to enter the market.

and you know, people stop seeing the reasons when theyre getting annoyed. lol, so they see the boomers as selfish. cant blame either.

oh luke. is that new big ass harvey norman place looking for workers? lol, i need a new job.

yeah well said Dave and I do understand the frustration, but there is a small window of opportunity still available for those that still want to get into the market.

In your case, I would buy a small shitbox, rent it out and go on your holiday cause every year that goes by now, the window gets smaller.

agreed 100%.

How is setting yourself for the future being selfish? Some people work till the age of 65 then retire and rely on pension for the rest of their days, f**k that if i'm gonna be one of those people. Real estate is a gold mine if gone about the right way and i sure plan on trying to get into it.

Spot on Luke......I would hate to be a pensioner living on $250 a week and still renting!!

well i cant afford to get into the market, even if i had 0 debts, the banks will still only offer me around 190. so now im waiting until the next perfect time to buy, lol

As I said to Dave, don't look above your means. With $190K you may find a shitbox around the northern area that will allow you to at least get into the market......can't stress enough how important it is to do something now.......that FHBG is almost gone and rent will skyrocket......and that's straight from the horses mouth!

EDIT: The next perfect time to buy may never be seen again in this state as per my previous post regarding boom periods and the buy up by Baby Boomers......buy a shitbox and rent it, forget about 1/2 mill houses!

scandyflick Grand Master

scandyflick

Posted
Posted

im on pretty average pay, wouldnt be able to afford the repayments at the max amount by a long shot. ive just built up a pretty damn good credit rating. still a fairly shocking amount though, cant see myself borrowing a huge deal more than half that.

but meh, im not gonna be looking into the property game for another 4 years yet. and even then it may be in another country. one can dream.

scandyflick Grand Master

scandyflick

Posted
Posted
yeah well said Dave and I do understand the frustration, but there is a small window of opportunity still available for those that still want to get into the market.

In your case, I would buy a small shitbox, rent it out and go on your holiday cause every year that goes by now, the window gets smaller.

im considering that option, but my time frame for this holiday is into years, and id rather not have to worry about the repayments and the management from 10,000 miles away on top of the rent/board and daily expenses ill have while im gone. but im still looking into it, an additional downside is the money id use as a deposit is what i intend on leaving with. which adds time to my already delayed departure.

scandyflick Grand Master

scandyflick

Posted
Posted (edited)
My mate, she took out a $420,000 mortgage with her bf.

Broke up with her bf a few months later and now they're in a huge fight about it all.

But her weekly repayments were $720 a week!!! That's insane!!

yeah, f**k that. i earn that in a really good fortnight. ie, 6 days, 2 overtime shifts on the weekend. that generally clears about $1600 for the fortnight. f**k living on $160.

Edited by scandyflick
kralster Veteran

kralster

Posted
Posted
yeah well said Dave and I do understand the frustration, but there is a small window of opportunity still available for those that still want to get into the market.

In your case, I would buy a small shitbox, rent it out and go on your holiday cause every year that goes by now, the window gets smaller.

Spot on Luke......I would hate to be a pensioner living on $250 a week and still renting!!

As I said to Dave, don't look above your means. With $190K you may find a shitbox around the northern area that will allow you to at least get into the market......can't stress enough how important it is to do something now.......that FHBG is almost gone and rent will skyrocket......and that's straight from the horses mouth!

EDIT: The next perfect time to buy may never be seen again in this state as per my previous post regarding boom periods and the buy up by Baby Boomers......buy a shitbox and rent it, forget about 1/2 mill houses!

Yeah i'd have 250 a week plus 1 million + dollars i've saved over the course of the past 40 years to buy a motorhome and drive around the country till i die.

And yes i'll be able to find a house in the norther suburbs where i have a 1 hour commute to work each day (and thats one way) and petrol will cost even more then (not in my case as i have a work car that is fully paid for)

skylineguy19 Mentor

skylineguy19

Posted
Posted

there is plenty of homes north and south you can buy in the low-mid 200k mark and thats for 3 bedroom. Drop to a 2 bedroom and you might be lucky enough to find something semi decent under 200k.

City is a good place to look to if its just to rent out, get a 1 bedroom apartment in the city for roughly 200k and make awesome rent back from being in the city.

RubyRS4 Grand Master

RubyRS4

Posted
Posted
Yup baby boomers have been shown to be the most selfish generation ever!

My pet peeve is people who own more than one house, you can only live in one so why do you need more? Then I hear all this crap about how it's a great investment but all you are doing is making it harder for the little guy to get into the market.

I'm with scandy, i am not buying a house until i get married. That way if she leaves me she only gets half which is what she is entitled too, no way i am buying now paying it off to in a few years having some girl leave me and get half of my hard work.

Also i'd rather be happy and enjoying life than worrying about a 300 grand mortgage that I HAVE to pay off, no if's or but's, unless I want the bank to take it back off me.

If you don't buy you're own, you gotta rent off someone else.

My repayments on my investment property are $120 per month more than the income I get from rent ... so thats not selfish. I charge rent at the market rate, not at the rate of my mortgage.

You need to be in the property game to understand it dude.

RubyRS4 Grand Master

RubyRS4

Posted
Posted
My mate, she took out a $420,000 mortgage with her bf.

Broke up with her bf a few months later and now they're in a huge fight about it all.

But her weekly repayments were $720 a week!!! That's insane!!

Thankfully my ex-wife and I were civil about splitting the house. She's since moved on and bought another house, and I've got 2 :sick:

My repayments are $4034 per month! But I'm selling one property at the moment in the $330-$350K bracket ... and its expected to be nabbed in the first 2 weeks! Drinking mate of mine is an economist and lectures at Uni ... I was a student of his for 2 years. The demand for a 3 bedroom home in the $315-$360K bracket is high and not enough supply. In my area alone, there are only 2 houses on the market!!! I'd love the upper end of $350K for it (which is likely) as there is only a debt of $195K on it. Those funds will be re-invested and be a very nice retirement for me and Tracy. Once the house sells, our repayments come down to $1,776 per month ... but I'll continue to pay $2421, and have it paid off in 13 years ... not 29.

How is setting yourself for the future being selfish? Some people work till the age of 65 then retire and rely on pension for the rest of their days, f**k that if i'm gonna be one of those people. Real estate is a gold mine if gone about the right way and i sure plan on trying to get into it.

Its liek the stock market. Gotta know when to buy and when to sell. Its worked well for me. But right now I want something simpler and more money to play with.

There is another investment opportunity I want to get involved in which has higher returns. Getting an ABN and registering my business shortly, and will run the management for my investment portfolio under the business, grow it and get some tax benefits. :)

I plan to retire at 50 ... not 65. I wanna enjoy life a bit more.

Normsta Experienced

Normsta

Posted
Posted (edited)

Speaking of credit, I am currently in a casual work position, and I was offered a credit card with a $3000 limit by Bank SA. They offered it because, according to them, I had a good savings pattern on my bank account. I declined of course... but why would banks be stupid enough to offer something like that, especially in these times when casuals are given very little work.

And, for something completely different, a question... what does a 'town shoe' comprise of? No laces? No sports shoes?

Edited by Normsta
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