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Viewing 20 posts - 1 through 20 (of 45 total)
  • Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    At the moment you can get a 3 phone and pay $99/month
    for upto $500 calls. If only their phones weren’t such
    bricks.

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    You can still find some cheap properties in East/South
    Geelong. They’re close to the city but some of that
    area is industrial hence it’s cheaper than West Geelong.

    Try to find something close to South Geelong station,
    it’s a commuter city these days and being close to the
    station you will capitalise on this in future.

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    Normally tenants would pay the outgoings, check over the
    lease to see what their responsibilities are.

    Things that commercial tenants should be paying:

    * insurance
    * council rates
    * water rates
    * land tax if tenant is a public company

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    Does anyone have a link to the newsletter archives,
    I don’t seem to be receiving the newsletter anymore
    and I can’t find the archives on the pi.com www
    site.

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    Don’t forget, with your own house the rules regarding
    landlords & tenants change somewhat in your favour.

    I am not a laywer but last time I read the guidebook
    I was surprised to see that you can charge more bond
    and can kick out tenants much easier if you are letting
    out your own home (as opposed to an investment property.)

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    Here’s a tip: generally, high yield dictates lower
    capital growth. It’s all about personal strategy.
    Many negatively geared properties are that way because
    to some extent future CG is priced into the purchase.

    Personally, I think that +CF is better when starting
    but after a while $50 a week doesn’t affect your bottom
    line much and that’s the time to switch to the big CG
    fish.

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    Hi Bill, good to hear you’re back.

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    Replace all the power points and light switches before
    selling and many people will assume that you’ve had the
    house rewired.

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    Sorry SIS, your HECS debt will be adjusted each year
    to account for any rise/fall in the CPI.

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    I was able to relet my property in one of the better areas of Geelong
    in about 4 weeks in the middle of last year without increasing the rent
    but my SIL sold hers in the next street and it sat vacant for almost 6
    months.

    When it was eventually let the gross return was 3.5%, not exactly earth
    shattering stuff. Geelong has pretty much had its run IMHO.

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    Actually the opposite is true, when property prices
    are high the yields are low, when property is out
    of favour less investors are entering the market,
    hence less properties available for rent and by
    the magic of supply and demand rents rise.

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    Jim McKnight’s Ordinary Millionaires is a good read,
    as is Jan Somers’ Building Wealth – Story by Story.

    Both tell the stories of ordinary Australians making
    a go of property.

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    Hmm, focusing on why you can’t do something is
    a sure way to prevent yourself from doing it.

    Your problems seem to be quite managable compared
    to someone who couldn’t use the telephone or the
    internet, for instance.

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    The author was trying to convey what type of
    person that he was writing about. The book
    is about “ordinary” people, all of different
    persuasions, making a living from property
    investment.

    I thought the book was great, if only I could
    find my copy….

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    Yes you can get a refund of LMI when you refinance.
    I did this earlier this year and got 30% back. I
    probably should have received more but I was happy
    to get anything.

    You do have to ask for it though, and you may have
    to mention the BIO in order to get what you want.

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    Also lookout for negative nancies…

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    Gray’s in Springvale have bi-weekly auctions
    of all sorts of good appliances, bathrooms,
    tiles & miscellaneous building supplies.

    http://www.graysonline.com.au

    Fowles Auctions have regular timber & carpet
    auctions.

    http://www.fowlescarpet.com.au
    http://www.fowlestimber.com.au

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    Tell it brother!!!

    I’m with you on this Bill, putting my dough into shares and getting in a position to mop up the blood from the streets.

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    Perhaps you could buy your new property in a
    unit trust and have your super fund buy units
    in the trust annually. This money would then
    be applied by the trust to the outstanding
    mortgage.

    It sounds like you need a creative accountant.

    andy

    Profile photo of ajwansajwans
    Participant
    @ajwans
    Join Date: 2002
    Post Count: 45

    Yes, get it straight away, you don’t know what
    insurance the vendors have and if something
    happens they probably couldn’t force you to
    settle as the property would have to be made
    good but if you’re buying it then you obviously
    want the property.

    andy

Viewing 20 posts - 1 through 20 (of 45 total)