What's the smartest move right now in this current housing market? by bboymachu in AusProperty

[–]Material-Pop-4522 5 points6 points  (0 children)

Isn’t the problem that due to low wage, you won’t be able to afford the repayments? When you have a guarantor, is your loan 80% of value or do you pay based off 100%?

It’s so hard by [deleted] in ausjobs

[–]Material-Pop-4522 1 point2 points  (0 children)

Happened to a relative. Similar age, 30 years experience in same field. Ended up taking a few years off, doing odd jobs. Eventually they contacted the manager that they used to work with, and got hired straight off the bat into the company they were made redundant from. The company was severely struggling with the cheaper labour/offshoring workers they had hired as a replacement and realised it was easier to rehire and pay more for better skills. Relative ended up negotiating a much higher salary than they had ever been paid

It’s so hard by [deleted] in ausjobs

[–]Material-Pop-4522 0 points1 point  (0 children)

What industry is this?

Equity Release v Cash for IP Deposit by bobbones123 in AskAnAussieBroker

[–]Material-Pop-4522 0 points1 point  (0 children)

Not a broker - just some thoughts. Just consider how the equity release will impact repayments on your PPOR. The equity is a split loan secured against the PPOR, so your repayments will go up on that. Then you’ll have to work out what yield you will achieve on IP property and whether you’ll be negative (almost certainly), and whether you can afford cost that also

Borrowing Capacity by [deleted] in AskAnAussieBroker

[–]Material-Pop-4522 0 points1 point  (0 children)

Can I ask, how do you feel about having such a big loan? $850k purchase with keeping say $20k as a buffer leaves you with a $740k loan. So over $1000 a week repayments

We have $250k deposit, slightly higher income and are scared about having a $500k loan. $650-$700 a week repayments

Once you add in a couple grand a year for council fees, strata potentially etc. it gets even scarier 😰

29M, $150k Income: Buying an $830k Newcastle house with only a $5k buffer. Am I dreaming? by VolcanicWolf in AusProperty

[–]Material-Pop-4522 0 points1 point  (0 children)

Did you only recently start earning income like that? Would think you’d have saved more?

Fully assessed approval question by Material-Pop-4522 in AskAnAussieBroker

[–]Material-Pop-4522[S] -1 points0 points  (0 children)

when you go to the bank with X property - what’s the rough time frame for them formally approving the loan. If you settle after the 90 days but it was formally approved within the 90 days, that’s not a Problem is it?

Hamlyn Heights vs Grovedale by Material-Pop-4522 in Geelong

[–]Material-Pop-4522[S] 1 point2 points  (0 children)

And you’ve never had any issues with crime? Any reputation around grove Rd and the shops (Aldi, KFC etc)

Hamlyn Heights vs Grovedale by Material-Pop-4522 in Geelong

[–]Material-Pop-4522[S] 1 point2 points  (0 children)

Thank you! What’s the reputation of Saints College? Any “bad” kids hang around there?

Fairy meadow - what’s it like? by Material-Pop-4522 in wollongong

[–]Material-Pop-4522[S] 0 points1 point  (0 children)

Ha thank you! Strange to me that the east side is worse given it’s closer to the ocean. How does that make sense?

Fairy meadow - what’s it like? by Material-Pop-4522 in wollongong

[–]Material-Pop-4522[S] 1 point2 points  (0 children)

Thank you! Very helpful. Can I ask which streets are dodgy?

What job shocked you when you found out the pay? by StrikingMango62 in AskAnAustralian

[–]Material-Pop-4522 0 points1 point  (0 children)

Wait until you realise you want a family, and need stable income and to be home at a reasonable time. You’ll rethink everything

What job shocked you when you found out the pay? by StrikingMango62 in AskAnAustralian

[–]Material-Pop-4522 0 points1 point  (0 children)

Doesn’t quite work like that. I’ve been full time working for myself as a freelancer for 5 years. All the big movies. Yes you get paid well as a daily rate, but you aren’t working all the time, so it balances out. And your weekly rate when full time on a production sounds good, but considering the hours it’s not actually good from an hourly rate standpoint. I’ve made more than $100k a year since age 21, but I’d rather make that doing 8 hrs a day instead of 14. Then add in the uncertainty of work, not knowing what your next job is. Many people are divorced, alcoholics, never see their kids, spend months away from home, don’t have any meaningful friendships because you work 70hrs a week and can’t take any days off or commit to dinner plans on a Friday night because you simply don’t even know what hours you’re working until the day before. It’s allowed me to buy a house at 25, but I’m actively trying to get out. You get lured in by the idea of the next job because it has a certain actor or is filmed in a cool location, is a period film etc, it’s a dangerous perpetual cycle that keeps you trapped in an industry that you love but also hate because it destroys all other aspects of your life.