Many defaults soon?

Nope. Ain't me.

 

Doesn't deal with lower class crazy people...
Only up market crazy.
Love your work

 

dislike

 

Kid?

The guy is 45yo.

pinkboy

 

Where is this thread going? Going nowhere

 

Should we not all be charging and splitting that fee equally ?

 

You can talk to me about property for $185 an hour if you like.

Think of what that extra $200 an hour can do

 

I could be wrong here but the likelihood of a rate increase making people default is obviously relative to the value of the property (1% increase on a 1,500 a month payment is easier to absorb that 1% on a 4,000 a month payment).

Based on this logic I would assume that the Sydney market (expensive in comparison) would be the one where a large volume of these possible foreclosures could occur.

Obviously it depends on the strategy and the term you are looking to invest for but I wouldn't have thought Sydney would be a good investment now with it's location on the property clock, even if you can save a few bucks on the purchase price it is still not going to move much for a few years.

In my mind, a foreclosure in Sydney doesn't necessarily equal "Snapping up a bargain" at this point in time.

Is this right? I am just a rookie at this and all theory at the moment but it works in my mind .

 

I asked my cat this morning and she said no.

 

For most property owners whether OO or IP, selling would be the last option. I think a rate hike of 1% won't cause a huge damage. If rate is 6 or more, more will feel the pain.

 

"I can't get no tenant"

 

Ha.. Does any one not remember the Karate Kid and that line...

Ralph Machhio is 53

 

The late Kerry Packer was in a casino and there was a proud millionaire who said he was worth x amount. So good old kerry got a coin out said "I will flip you for it"

 

Obviously got some sort of mental disorder if he is seeing a psychiatrist so don't be too harsh on him haha

 

I think I remember that one. He was playing blackjack and had cleared the floor playing all the tables at once. A Texan Oil barron was annoyed that he had taken all the tables and said 'do you know who I am partner? I'm worth $60 million.'. Packer pulled out a coin and said 'I'll flip you for it'. The Texan shut his mouth and moved along. Classic Kerry Packer moment!!

 

Speaking of Kerry Packer, there was another situation where he had won big in the casinos. As a symbol of joy and satisfaction he tried to give the dealer some chips (can't remember the amount but it was not pennies I think 80k US). The dealer politely declined telling Kerry that the policy of the casino was to pool all tips together to be shared amongst all dealers. So he said call your manager now. So she did. When the manager arrived he said 'I want you to fire this woman immediately'. The manager said 'why Mr Packer, has she done something wrong?' Packer said 'I asked you to fire her now'. So the manager fired not wanting to anger Mr Packer. As soon as she was fired he gave her the chips then told the manager to employ her again. And so the manager gave her the job back.

 

When you say 'a property investor but on a bigger scale than us' so you mean 'us' as in the members on this forum or 'us' as in you and your partner?

 

1% rate increase is a 20-25% increase in monthly repayment for a IO loan.

 

Perhaps, depending on size of loans. It won't affect me.