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  1. MichaelMik

    Quick Q: Can plain old land be used as equity?

    Thanks very much everyone, eternally grateful! Also Albanga that's very interesting about loan contamination, I did not realise mixing business with pleasure would make this occur. I shall look into this before I make any rash decisions :p G'day Peter, it's the block looking over the old...
  2. MichaelMik

    Quick Q: Can plain old land be used as equity?

    That's bloody beautiful too know! Thank you so much for the extraordinarily swift response and trust you mortgage brokers too know all :p I really appreciate it. But ruthlessly, what do you guys think is the better option. Build for CF+ or start expanding the portfolio as far and wide as...
  3. MichaelMik

    Quick Q: Can plain old land be used as equity?

    Hello my fellow somersoftarians, I sincerely hope everyone is doing exceptionally well :p I have recently purchased a 5 acre block of land in Captains flat, NSW. I bought it off a family member for a very good deal and bought it outright 100%. My quick question is that I thought I might be...
  4. MichaelMik

    Hello Somesoft! IP or PPOR for first purchase?

    IP all the way! You might as well expand the portfolio as far and wide as possible, therefore expanding your empire, and there are potentially more gains to be made.. If bought well in the right spot of course.. Also whomever is living there is helping or just straight up paying to live there...
  5. MichaelMik

    What do you wish you would have done differently

    I bought an E55 AMG Mercedes at age 20, with cash. Spent bucket loads more on it, (aka all my money!) through insurance, a few upgrades yada, yada. Whereas I should have bought a manual BMW haha :p or could have put a very tasty deposit on a regional or maybe even metro property! I'm a month off...
  6. MichaelMik

    Parking funds until purchase next year

    Well I bought 7k worth of Sirtex medical shares, ASX: SRX for $23.70 on Friday and today they got as high as $25.62.. Is infact a nice tasty 8.1% return in 3 working days :D Its actually the first shares I have ever bought in the hope of accelarating saving for a deposit, so I hope its...
  7. MichaelMik

    Lets Talk Diamonds

    NOMG - one of the complaints with Blue Nile is that they don't give out enough information on their diamonds to be able to make an informed choice about whether the particular stone you are interested in is a good performer. Also within their top cut Signature Ideal diamonds, the quality of the...
  8. MichaelMik

    Lets Talk Diamonds

    Sorry I think there has been a misunderstanding Cut - the way the diamond has been cut is not the same as the shape of a diamond. The shape of the diamond can be varied - round, oval, princess, radient, cushion to name some. This is a mater of personal taste which one you would choose. Once you...
  9. MichaelMik

    Lets Talk Diamonds

    No need for false guilt for wanting a diamond. People want all sorts of things such as a top of the range Range Rover or some other item that isn't strictly needed but for some reason women are made to feel guilty for wanting to own something lovely.
  10. MichaelMik

    Lets Talk Diamonds

    Diamonds are all about light return that then translates into a diamond's sparkle and scintillation. There are measurements of a diamond that involve factors like not being cut too deep or too shallow so light is able to enter the diamond and reflect upwards rather than pass through the diamond...
  11. MichaelMik

    Lets Talk Diamonds

    Pricescope is probably the best website to go to for information on diamonds and reputable dealers in America. Great advice to be had there, but as with all advice make sure you are getting what you want. With diamonds Cut is king, compromise according to your taste and tolerance on the Carat...
  12. MichaelMik

    Very keen but in a little pickle.

    Roger that, thanks thats all very sound advice and taken it all on board. I really just want to rush in and buy a property ASAP but deep down I reckon your right and I should probably wait and save more to buy something better quality. I'm very keen on getting the worst house in the best street...
  13. MichaelMik

    Very keen but in a little pickle.

    Thanks yeah I'm absolutely addicted too property so ill stay commited :p Yeah I have been looking regional as well, I got analysis paralysis but I recently could have bought a place in Dareton, nsw for 67k that was rented to long term tennants for $150pw.. I really should of just taken the...
  14. MichaelMik

    Very keen but in a little pickle.

    Thanks mate, yeah definitely going to try get some more work for starters for improving serviceability and then go speak to some good brokers :D because it sucks seeing all these potentially good deals come and go,(which I reckon I have a keen eye for spotting) and not be in the position to jump...
  15. MichaelMik

    Very keen but in a little pickle.

    Thanks very much for the quick response Jamie. The size is only 52m2 and im not 100% if thats including the carspace... I heard that banks may not lend as much if the unit is deemed to small, as in under 50m2. Is this true? Thanks again! Michael
  16. MichaelMik

    Very keen but in a little pickle.

    Hello everyone, Long time follower but first time poster, and might I just say this site is amazing! Ive learnt so much over the last few months from the wealth of information thats on offer, so thanks very much somersoftarians! :p I'am looking very eagerly to buy my first IP, most likely...
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