Images of Canberra – As seen in Calwell

johnboy 23 November 2010 16

Rent 2 own

Schmeah sent in this piece of strangeness.

Anyone care to try and explain?

(Got an image of Canberra you want to share with the world? Email it to images@the-riotact.com )


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16 Responses to Images of Canberra – As seen in Calwell
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MJay MJay 9:48 pm 28 Nov 10

I saw an older model car driving along Northbourne Avenue on Saturday morning with one of these signs (and yes it was cardboard too) stuck to it’s window.

AHornbag AHornbag 10:13 pm 25 Nov 10

Dodgy Brothers!!

georgesgenitals georgesgenitals 9:12 pm 23 Nov 10

pink little birdie said :

or it’s a wrap morgage.. like in the 0-130 houses in 3.5 years. or maybe I think that cos I just read that book… 🙂

Buying 130 houses isn’t actually that hard when you can get 10% yield, like Steve McKnight did in country Victoria during the late ’90s.

He wasn’t wrapping them, either.

screaming banshee screaming banshee 8:23 pm 23 Nov 10

Reminds me of when I was an apprentice, driving along my tradie has screeched to a stop jumped out of the van and ripped down a sign that was nailed to a tree. He gets back in and says

“Anyone who reckons they can paint a roof for 500 bucks is a fuckin thief”

caf caf 8:21 pm 23 Nov 10

re: #7 – $1200/wk is significantly more than you’d pay on a mortgage for such a house.

breda breda 5:59 pm 23 Nov 10

It’s old-fashioned hire purchase – you don’t have any equity until you have made the last payment. If you fall behind in payments they can repossess, and you end up with nothing. Usually the total purchase price is way above what you would pay with a conventional loan, as well.

These schemes are aimed at financially unsophisticated punters who even fringe lenders won’t touch. I think it’s legal, though, because the punter signs a contract which states all of the above. Very nasty.

Hercsie Hercsie 5:32 pm 23 Nov 10

Not a bad deal for a pair of trousers and a smallish pair of shoes

pink little birdie pink little birdie 5:13 pm 23 Nov 10

or it’s a wrap morgage.. like in the 0-130 houses in 3.5 years. or maybe I think that cos I just read that book… 🙂

bean bean 4:55 pm 23 Nov 10

It’s a bit like hire purchase or a car lease.
You pay rent on the signpost for ten years, then after a final payout figure, you own it.

R086 R086 4:35 pm 23 Nov 10

I’ve seen these around town too.. Seems really dodgey, here is a link I found on Gumtree using the same mobile number

“http://canberra.gumtree.com.au/c-Unit-House-Real-Estate-house-unit-apartment-rental-house-rent-to-own-own-your-own-home-while-renting-W0QQAdIdZ237122537”

Date Listed 20/10/2010
Price Please contact
Address Flynn ACT 2615, Australia
Available 20/11/2010
Parking Covered

Rent to buy
3 bedroom house with 2 bathrooms + 2 car space car port
+
1 self contained unit in backyard with kitchen bedroom and bathroom + own driveway and side access

950m2 block with approvals for extension to front of home

$1200 per week with a proportion coming off the final purchase price of the home at the end of a max 24 month lease. Low deposit. no bank required

Can take you through home 1st week of november for now you can drive past and see if you are interested.

RandomPoster RandomPoster 4:32 pm 23 Nov 10

I have seen these around too.

I believe there are people out there that will charge you extra to rent a house, but after X years of renting you own it. I am not sure if it is legal.

p1 p1 4:24 pm 23 Nov 10

Someone willing to give’em a call and get the goss?

My money is on it being Metro Constructions latest plan.

Pommy bastard Pommy bastard 4:05 pm 23 Nov 10

Sme on Tuggeranong Parkway too.

I’m convinced, where do I sign up?

colourful sydney racing identity colourful sydney racing identity 3:51 pm 23 Nov 10

those signs have appeared everywhere of late. Like most people I take my financial advice from people who scrawl there number on torn cardboard.

Reprobate Reprobate 3:51 pm 23 Nov 10

Saw similar texta-on-brown cardboard signs on lightpoles along Isabella Drive on the weekend, including a “stop wasting your money on rent” version. Didn’t strike me as being a professional outfit that I’d sign my finances away to, but then again the positioning around the Richarson/Isabella Plains sinkhole probably means they are just fitting in to their target market.

thatsnotme thatsnotme 3:40 pm 23 Nov 10

Saw very similar signs up on the corner of Southern Cross and Kingsford Smith drives in Belconnen on the way home last night too. Maybe they’re supposed to be like those signs on noticeboards where you rip a paper tag off the bottom, except they’re just expecting you’ll rip down the whole sign and take it with you?

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