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notpom

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About notpom

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  1. Because people who buy them never sit around watching silly ads. http://www.news.com.au/finance/real-estate/buying/apprentice-to-expert-andrew-morello-has-nine-properties-and-counting-at-just-29/news-story/03584b3c335cad5f1bb0cefb00bb0a6b Nine properties by the age of 29 - it is not a bad achievement. I personally know people who were kicked out of year 8 ("for a good reason" they say) whose portfolio was substantially larger. One comment I would take a liberty to make - it looks like the list of 11 tips (how to get started) was made shorter than it was originally. As always by removing useful advice. Main piece that is missing "Find out how to borrow the deposit". Saving deposit is a waste of money. While you save, property becomes more expensive and you lose a lot of money as a result.
  2. notpom

    Christmas present

    Presents are getting nicer and nicer. Negative oil price - who ever dreamed of such a thing? http://finance.yahoo.com/news/oil-sold-0-50-per-192245271.html
  3. notpom

    Christmas present

    Paper tiger barks angrily: http://www.news.com.au/finance/markets/accc-chairman-rod-sims-has-slammed-petrol-companies-for-failing-to-pass-on-low-oil-prices-to-motorists/news-story/1bf6df2aac6ae0d0856ae54792d1b995 Very scary paper teeth. What they can do when Lib Government is eager to cherish super profits of their multinational mates. It is safer to rip off vulnerable - old and ill people, especially disabled.
  4. notpom

    Christmas present

    Even more of Christmas. http://money.cnn.com/2016/01/16/investing/iran-sanctions-lift-oil/ One million barrels a day added to the markets in an instant.
  5. My friend, Like it is said, wherever you go, there you are. I explain. Imagine yourself on the road which has two ends. One end leads to the rubbish dump, the other - to the beach. If you chose to go towards rubbish dump, it would be highly unlikely you will get to the beach. Yes, in theory if you have unlimited time you can go around the globe and reach somewhere nice, but problem is that you don't. With retirement income you have got two directions - one to increase your earnings so you can meet your own demand, or cut your demand so it matches your earnings. If you chose to cut your demands - then rock, garbage bag and baked beans are final destination of your road. As to GUARANTEED income, you shall understand that what is guaranteed - is the rate of inflation, in other words - zero income in real terms. This is the catch. The second catch with cash capital - it is that it is constantly eroded by inflation. I will give you a real example. My wife's friend sold her late mother's unit in Randwick (Sydney) in 1990 in an expectation that "property bubble" is going to burst. In 2010 she has bought a house 150 km away from Sydney CBD, $450K She was shocked when I revealed that in 2010 unit she has sold worth slightly more than a million. And house she has bought in the 1990 dollars worth just $90K. In other words, by sticking to "cash investment" she has lost $990K in capital, or $50K a year on average over 20 years. You are the person number 989765432 to whom I have to explain what is blatantly obvious. An trust me, it is tiresome.
  6. notpom

    Rental question for newbie

    Thank you for belly laugh. "Positively encouraged to have pets" beats everything.
  7. notpom

    Rental question for newbie

    It depends. It depends on the area, condition of the property and yourself. For example, I (and most of the landlords) never approve people who coming from the private rent background. 99% of private renters have something to hide in their rental history. I would never approve people with indoor pets. I would go past the single income families. List goes on and on. So is you fall into high risk category and try to rent decent property in the decent area - then your bargaining power is somehow limited. For the new arrival I would not recommend mentioning anything more than $5 a week discount. This is usually what is built into the price for negotiations.
  8. notpom

    Christmas present

    Christmas is still here. http://www.smh.com.au/business/markets/oil-extends-slide-into-sixth-session-as-hope-for-recovery-fades-20160111-gm3qfj.html It is worth asking ACCC why is that you pay more than a dollar for the petrol when price should have been in the region of 60 cents.
  9. Of course, live under the rock, eat baked beans and drink rain water. You miss the point. To determine how much you need you first must determine what kind of lifestyle you want in retirement.
  10. There are just a few flaws with your approach. 1. It is a big delusion to think that someone will look after your money. They simply would look after their own. Super is a bright example. They deliver negative returns all the time, but it does not stop them charging you fees. 2. To purchase annuities you need money. If you mean you would get money from super - look what is market is doing and think again. 3. Return on the annuities depends on two things - interest rates and share market. Good luck getting enough funds to buy milk. 4. "Property speculation" is a myth created by unscrupulous media for people with weak nerves. In reality we get the situation when to fix power point you need a license. To fix kitchen tap you need a license. To the contrast - to make new people you do not need a license, even if you are alcoholic and drug addict. Problem is, these kids will need housing. To build housing you need land. And nobody can create new land even if Government gives them license. 5. From the moral point of view, getting money for doing something is much better than what you propose - getting money for doing nothing.
  11. notpom

    A little known safety requirement

    Thanks for the info Tamara. Councils (and Governments of all levels) apparently are in the business to turn the society in a blanket dob-in culture. I propose that DA must be introduced for installing the kettle in your kitchen. With fencing requirements. Otherwise children may scold themselves. Same goes for kitchen stoves. As to me, I know of the most effective safety device for kids. It is called "mother". And responsible mothers pour a mug of water when they bath their newborns. This way kids are taught to hold the breath and it is first step to teach newborns to dive. As to me, it would have been much better if Governments turn their attention to that parents who drink alcohol, consume drugs and engage in violent acts when kids watching.
  12. Slight correction. After approx 13 years (rents double every 13 years on average) rent becomes a nice cash cow. This is in capital cities. In rural areas you usually get the rent exceeding your outgoings from the day one. But that would be at the expense of capital growth. But even in the capitals rent plays a big part at the beginning. Other people pay your mortgage. Partly through the rent, partly through the tax breaks.
  13. notpom

    Half sober realestate article

    No-no-no. You are not going to force me to mention Aesop and his 2000 year old fable "Fox and grapes" I am also not going to mention that the phrase "hubby still works" makes me to believe that you are not worried about money. There are also couple of other things that I would prefer not to mention that I ma not going to mention them, mainly due to the fact that I am married for 40 years.
  14. notpom

    Half sober realestate article

    You must be very rich to make such expensive gifts to people you do not know. Having heart to make money may mean retirement coming 10 years earlier. Getting development finance is not a rocket science. I do not know how old you are, but keep in mind that after 55 banks would not want to know you.
  15. notpom

    Half sober realestate article

    I like positive people. Positive attitude is an empathetic and clever indifference to others. and sober and mutual love to oneself. Going for a jog, smiling. People think that you are so kind because you send smiles to everyone. In reality though you can not care less what is going around you. You are jogging. You controlling breathing rate, pulse, you train your heart muscle. Massage after jogging. Green tea nights on Friday. Daily gym. More dietary fibre. You do not need troubles of everyday life. Water bottle in your hand - so skin never gets dehydrated. More flexibility in the joints. Vitamins - what am I saying. Everybody around is the same. There are some alien goblins who mix cement, lay bricks and lay sewerage. Let them be unhappy. On the serious note - you do not listen to what I am saying. I agree with you that characters who get more money for sake of getting more money have not a life, but a diagnosis. BUT. Main purpose of having ENOUGH money - is not to think about money. The other is also true - if you do not have your own wealth creation plan - means that you are the part of somebody else's wealth creation plan. And when you turn 45 - nobody would want you to make money for them. You becoming dangerous - you may resist fleecing. You are on the borrowed time.
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