Vic Wasteland Thread

[paulr33]

i could bring it to next meet on the 8th at the burgers and shakes joint if u want?

[Kinkstaah]

Put R34 diff up for sale.... 10mins later get a PM, 3 hours later diff is gone, cash in hand.

Wish selling everything else was that easy.

did see this ad and thought

hm, $50 is way under priced if this is really a R34 helical

also thought, doesn't look like a R34 helical because only 1 ABS sensor, so... wut

[joeyjoejoejuniorshabadoo]

question for the banking ppl.

couple i know, combined income 150ish

he been at job for less than a year bounced jobs a bit b4 hat

she (the lower earner) steady job maybe 8 years.

living in flat that they paying off, 400ish value 250 left

they been pre approved a 800K loan for another house and going to lease out flat.

is that sort of borrowing to equity normal?

seems significant debt for income?

or am i just not willing to extend too far?

pretty normal

[emts]

tell you what if that the lending criteria I'm buying a block as soon as I spot one the right size.

[joeyjoejoejuniorshabadoo]

Now if they were only on a simple cabinet minster's salary, THEN they would have a problem

[alr33x]

lol.

Banks are quite generous. I've always found it amazing that when you have debt they'll happily pile it on I recall trying to get finance at 21-22 for my lexus was like only 61k earning well more plenty of cash on hand and so much head fks cos no assets at that stage

Now got debts buy a expensive car (expensive to me anyway) it's like automatic no questions asked

[Birds]

i could bring it to next meet on the 8th at the burgers and shakes joint if u want?

If I can justify a visit to the west with two things in one go then I'm doing alright

Will PM you

[Birds]

Guess that's ultimately down to someone in debt with a history of payments having more credibility than someone who's never been in debt and is good at saving their pennies.

[Rekin]

Famous insurance: $10k cover for $841.50/year

[UNR33L]

never heard of them but will have to check em out

[alr33x]

Yeah I guess, but I can see the slightly backwards thinking to it myself

[dezz]

150k combined income, owing more than me on their property and they get approved for 800k?

Bank bitch never told me exactly how much she pre approved me for, but I doubt it was anywhere near 800k...

[alr33x]

Man do an online pre approval you'll get a mill plus Dezz.. Just don't think about eating or puttin petrol in ya car

[dezz]

Unlike a lot of people out there, I don't over reach

[HEKT1K]

Unlike a lot of people out there, I don't over reach

What about reach arounds?

[dezz]

What about reach arounds?

From you? sure

[alr33x]

Unlike a lot of people out there, I don't over reach

Yeah me either I'm very financially conservative probably too much so but I like sleeping easy. Edited June 23, 2015 by alr33x

[Rekin]

question for the banking ppl.

couple i know, combined income 150ish

he been at job for less than a year bounced jobs a bit b4 hat

she (the lower earner) steady job maybe 8 years.

living in flat that they paying off, 400ish value 250 left

they been pre approved a 800K loan for another house and going to lease out flat.

is that sort of borrowing to equity normal?

seems significant debt for income?

or am i just not willing to extend too far?

Refinancing a 400k loan up to 80% LVR (without incurring LMI)

400k * 80% = 320k

320 - 250k = $70k equity available (not $150k)

Interest only 5yrs repayment: $1,174/month @ 4.4%

$300/wk rental income = $15,600 income ($1,200/month)

Property near positive geared - excluding rates, body corp, maint, fees etc

800k house @ LVR of 90% if willing to pay LMI around $700k loan (estimate stamp duty applied as well)

$70k equity + $30-40k cash savings will fill the shortfall between Loan vs. House purchase

$700k loan @ 4.4% P&I = $3,500/month repayment

$150k incl Super income is around $8000/month income (after tax)

Bank usually says Single person living expense is around $1100/month (not sure what a couples monthly spend would be - lets say $2k)

$8000 - $2000 - $3500 = $2500/month left over

Don't see any issues with their borrowing vs. income. Could have missed some points, speak to your local mortgage broker on a more realistic assessment on your borrowing.

[Leroy Peterson]

did see this ad and thought

hm, $50 is way under priced if this is really a R34 helical

also thought, doesn't look like a R34 helical because only 1 ABS sensor, so... wut

i knew it was worth more (S-chasis LSD's go for $200 on ebay), but i only paid $50.

was defs a helical center when i took it apart. not sure what an R34 housing looks like. guy who bought it puts them into old skool Z's and flogs them off apparently. said he hadnt tried a R-chasis diff but was willing to try for $50.

[Birds]

Think Green Label was available today online, am certain I saw add to cart button

Get home and try to order

Sold out

Dan across the road don't know when they getting their allocation - depends when the rep comes but will be very limited. Gonna have to jump on this shit quick.