Forum Replies Created
I think Cata has probably covered most points and agree as with all painting its the prep work that takes the time. I use my spray gun on ceilings and cornice first. Its fantastic for decorative plaster and VJ walls.
Make sure you wash it out properly after use. I also strain my paint into the container through a sieve to avoid any lumps clogging the gun.
Have Fun !!Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”For a small fee you can obtain these details from RP Data or abr.com.au. There is usually around a 6 week lag though before the data is registered.
Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”Dr X this really had me stumped last night. First I thought of “Dr X Incorporated”, then I thought maybe “Dazzling Developments” but at 2am I think I have it. Why not utilise the first initial of everyone involved to make your own name and then add on
“_ _ _ _ _ _ Property Investment Group Pty Ltd”
Of course this will only work if some have vowels in their name. If not you could go to the next generation and use the kids names.
Back to sleep for meAmanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”Capital gains is calculated from the date of the contract which you said was Sept 2005, so long as you sign a contract to sell the property after Sept 2006 you’ll get the 50% discount. However its a 50% discount on the profit which will be quickly eroded with interest over the 12 month period. If the result is a loss this is treated as a Capital Loss and can only be offset against future capital gains.
Hope this answers your question. (Retired Tax Accountant)Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”Yes but that big new 4WD is probably on lease or Hp. I’ll stick to my 7 seater 1996 Ford Falcon Station Wagon with 260000 on the clock which we own. Mind you it could do with a clean !!
Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”With the CBA they have us on a “Wealth” package (ie. debt over $500k) which entitles us to a .5% interest discount on all our loans plus no bank valuation fees.
We do pay an annual fee of around $300 but we’re well in front I think.Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”I don’t have any syndicate experience like that mentioned but we have our own land subdivision we are doing at present of 1 into 7 house lots which includes a new road. Its been a very slow process. Bought land Oct 2003, DA approval Sept 2004, Operational works approval April 2006, and we haven’t turned any soil yet !! Its costs us more than expected in interest holding costs so look further into the process and conditions the Council will impose.
Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”We use a CBA Business mobile lender and she set us up a variable loan at 5.99% which we’ve used twice so far on a reno and sell. When we sell the property we pay the loan down to $10k and then reinstate the loan for the next purchase. No establishment fees providing we don’t repay in full within 5 years.
Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”I agree with TimC about Ron’s book its a fantastic resource. A bit technical in parts so a slow read but crammed full of great information and some free charts at the back. I got my book from Dymocks in Brisbane if that’s any help.
Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”When will I learn !! Thats the second time I’ve assumed the wrong sex. Sorry Jules and Xenia[rolleyesanim]
Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”This is not a decision you can make alone but rather with your partner. Your profile shows you aged 29 with no kids “yet”, and I think this is the crucial issue. You need to sit down and talk with your wife and work out when you plan to start a family, if at all. If you go head long into fulltime property investing and she desperately wants a baby then this would put a huge strain on your marraige and perhaps end in divorce. Sort this out first.
If the WA market is too hot at present why not use the time to adapt to living off one wage, it will give you a nest egg and prepare you for the future.
We have been property investing for 3 years now, my husband works fulltime and I’m the property guru and mother to 4 kids. We still need my husband to work to enable us to qualify for bank loans but plan for him to retire within 5 years.
We’ve done some amazing deals and both love the property game. The hardest thing is only being paid once or twice a year !!
It is possible to live your dream it just takes a huge amount of work and courage.Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”Xenia thats fantastic. I think Dazzling covered my points also and I definately agree to taking time out to enjoy your work with a small reward. We too are sooo close to finishing our latest reno and hope to post my own brag soon.
Keep inspiring us allAmanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”Hi Sark,
As Paul said it seemed pretty sensible info. The book is a good read and has several profiles of successful property investors and included links to good webb sites. I bought mine from Dymocks for around $30.Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”We did a removal house a couple of years ago. Your first stop is your local Council to determine what conditions are required for a removal house in your area, and the amount of the bond and fees payable. This topic has been covered before of the forum so try doing a site search also. Your local paper or phone book should have details of removal companies or try http://www.drakehomes.com.au
Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”Sounds familiar. Have you had the “I was so worried I couldn’t sleep” routine yet ? Or perhaps “Why are you doing this when you’ll have all this (arms spread) one day”.
It’s their way of saying they are worried but care. Your parents were brought up in a different generation where debt was seen as bad.
Don’t worry you’re not the only one’s who have hid telling their folks of the latest purchase !!
I have found that getting my Dad invloved with the reno helps and that way they feel they have contributed.
Somehow I think they will always see me as “their little girl”.Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”I read about him in Dale Beaumont’s book “Secrets of Property Millionaires exposed”.
Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”How long do you want it to take ? As Micheal said it depends on how well your builder co-ordinates the job ans should be around 3 months. On the other hand if you do a lot of the work yourself while you may save some $$$ expect the job to take anywhere from 3 – 12 months, or longer !!
Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”Thank you Adam. Easter is a time for reflection and spending time with family, plus lots of chocolate !!
Happy Easter to all.Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”We had a similar issue with our house and installed a large corner shower with glass pivot door, which came with a fibre glass bottom around 450 mm deep. I think it was from the “Decina” range and cost around $1100 but allows our children to still have a bath and as it has a flat bottom showering is no problem.
I’d go for the second toilet or perhaps a good linen cupboard for storage.Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”I’ll let you know after the weekend. We have just had a double carport in kit form delivered !!
Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”