great, thank u for your help!

thank you for your advice guys!nucopia, i love your idea! i was assuming that 100k would just be a deposit & i'd have to get a mortgage, i didn't consider buying a 100k property outright. i just had a look at realestate.com & there are plenty of properties in that price range with a good return. i don't know about the potential for growth as i…[Read more]

there is a significant difference between positive thinking and wishful thinking. one is productive, the other is destructive.and now to quote buddha: "desire is suffering".

Sure, why not [happy3]

everyone is welcome, we will even accept russians…

[happy3]

Lena

What kind of beach do you prefer? If you don’t need a crowded touristy place like the Gold Coast, but a coastal beach for locals, try Redcliffe in Brisbane’s outer northern suburbs. I just purchased a very cheap house there to renovate. I think it is yet to boom, and it’s less than 30km to the Brissie CBD.

Lena

Hi Peter,

I hear what your saying.

What you need to realise is it’s easier to invest than to buy your own place. This is because you only pay a fraction of the morgage and the tenant does the rest. There is little wonder why so many people are renting their residence in order to invest. When your investment goes up in value, you can use the…[Read more]

Thanks for the advice guys. I will let him know that we will not reimburse him for 3 reasons:

1. He made the connection before seeking approval.
2. He chose an expensive option (which he required for work).
3. He demanded the reimbursement instead of asking politely, I don’t deal well with people like this.

Cheers, Lena

Hi Foundation,

Thanks for the interesting reply, although I had to read it twice [blush2]. I must admit your view on the econimic climate makes me want to run to the hills! But I’m not one for timing the market, so I won’t even try.

Lena

Well done Simon.

You know this is the only forum I use for that very reason! I’m so tired of spam, especially when it sounds realistic, like posting “I’ve found a great deal” and they’re selling high rise apartments on the Gold Coast…

Lena

I think it’s too easy for our generation. We can get almost anything instantly on “interest free terms”. My parents raised me to only spend if I had the cash in my hand, yes we are European [biggrin].

I wish credit cards and personal loans didn’t exist so people would have savings accumulating instead of debt , whether they liked it or not!

Having only been in the real estate game for a few years, I’m wondering if the current interest rates are high in proportion to investor’s commitments? What part of the interest rate cycle are we in? I would have thought at the bottom but some say nearing the top… I’ve heard all the horror stories of the 90’s, is it possible for history to…[Read more]

definately, you will be surprised how many things they find you can claim. you will get your fee back in no time (plus it’s tax deductible). i used the same as simon’s.

lena

Hi Nathan,

I just read a book called “Rental Property and Taxation” by Tony Compton. It’s an easy to read guide about what is claimable, what you can depreciate, the actual process of depreciation, CGT etc. I still wouldn’t do my own tax, but I’m more confidant about talking to the experts now.

Lena [happy3]

hi brian,

u may want to find out how much destiny charges. i called them recently and was quoted $3,000 depending on the scope of your plans. i suppose you will get your money back using their advice, but i decided to invest in lots of books instead [grad] margaret’s books are great.

lena

what a great concept. i don’t think they would be unfair or unethical. a person will pay whatever they want to pay. if an auction stirs up emotions then it’s upto the individual to know when to stop. if the property rents for higher than market value because of demand then you can’t blame the real estate agent…

lena

Hi as41,

A large deposit is an easy way to ensure positive cashflow, but it’s not the best way. Some people will tell you that it defeats the purpose of finding a good deal. Try looking for properties that will be positive on only 10% deposit, this may not be easy but keep looking. I wouldn’t tie up 20% in one property unless I absolutely had to.

Lena

That’s great, thanks Frank!

Lena
[builder]

Hi Frank,

I hope you don’t mind yet another question. I need some advice on removing wallpaper. It is a lovely 70’s bright orange floral pattern! Many bits are half peeling.

I called Bunnings and they told me to buy a wall paper removal solution and cover the paper with that. Another friend said that I need to hire a steam machine?

And then…[Read more]

Hi Wylie,

Thanks for your advice, that’s great. We are nervous about this so in order to keep our sanity, we will do the minor things first and begin getting quotes for renos during the settlement period. I’m not in the position where I can fully renovate a house that I don’t techincally own, even though the risk is small, it’s still there! But I…[Read more]