[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 2, 2011 - 11:22 am

Thanks,

I'm looking for income. 

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 1, 2011 - 9:14 pm

Hi fword,

I typed a response but it seems to have attached somewhere else….

Here it is again….

fWord, even if you don’t believe, it is important to take note if you’re buying in a suburb with high Asian population due to the fact that when it is time to sell your target market would be Asians. It is impossible to sell to them if they’re not even coming to see it in the first place. I agree though that if you’re buying in an Anglo suburb, it doesn’t matter.

I am looking t a property with an address that’s 888. Land size is 999. This is perfect feng shui in Chinese numerology. If, and that’s the operative word, I acquire this property I will report back. The intention is not to do anything on the property. Leave it for two years and sell. I will advertise it in the China Daily and see what happens.

God bless.

Angelina

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 1, 2011 - 7:43 pm

Hi,

Can you “buy” a house in the US with a credit card? It’s a stupid question, I know, so please don’t thump me.

If I have cash stowed away for a purchase but prefer to use a credit card to get the “55 days interest free period” and then pay it off on due date, that would be great right?

US of A based people, please reply.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 1, 2011 - 7:39 pm

Hello HighIncomeProperty,

I picked New York because it will always have a high population growth, a key driver in capital growth. I can’t imagine NY becoming a ghost town, people will flock there for one reason or another. Being in Oz, I like to be sure that my investment will not become redundant.

Since you had deals there, would you say, it’s safe? When I say safe, I mean is crime really THAT high. all I know of Syracus NY is what I see on “Law and Order”, if that show is to be believed, nearly half the population is dead or dying. An exaggeration but you know what I mean. Can you please elaborate on this?

What other States would you recommend?

Thank you for your interest.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 1, 2011 - 7:31 pm

Hi all,

I brought this back up as Dan didn’t get a response. I don’t like to give an opinion re his query on taxation, though I know a bit about it, is not my cup of tea.

My only advice, Dean, is ask your business accountant. He should be able to clarify this.

Take care.

Angelina

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 1, 2011 - 7:28 pm

Hi Huzey,

I agree with Dan, rent it out and get some money rolling in while you are doing your RESEARCH.

What you can and can’t build on the land does not depend on your what your neighbour was able to do on theirs. First, you’ve got to check with Council re zoning,.

The question you posed can best be answered by the town planners, not by forum members.

Before you touch the building, CONSULT with COUNCIL. Best advice I can give.

Take care.

Angelina

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 1, 2011 - 6:59 pm

To the Get Up advocates (if any of them actually reads this),

Let’s assume for a minute property prices will drop – say to 1992 level – I’d simply HOLD on to them. I’m not selling EVER. With exception of a few retirees who want to go bush, hardly anyone would be selling either. You know what will happen to rent????

If not, I will tell you. A studio in Cammeray, 12 sqm, you’re not reading wrong… not a mistake… 12 sqm, it is. Rental at the moment is $290pw. Yes, indeed. If investors pull out of the market altogether and people aren’t selling their houses for peanuts, this rent will go up to $350pw, easy.

What would tempt me, as a home-owner, to sell? If I sell my house at a loss, what would be the point for me?! Go back to renting?! For the same amount as the mortgage payment?!

This campaign doesn’t make sense at all. Doesn’t make economic sense.

Young people need to get real. When I was in lending, young people would come to ask, “How much can we borrow?” And then go, ” but that doesn’t buy a house in Chatswood.” I explain that Chatswood is NOT a first home buyer’s suburb. You have to start at the outer rim, and move in. Upsize. Upgrade….whatever you call it.

My first home was in Richmond, at the end of the train line. You couldn’t go any further by train if you tried. This was back in 1994. Back then it was unaffordable to start at Chatswood!!! And will be in the future, barring any acts of God, as in a tsunami.

I agree with crusty 100%. If you really want a house, you can find one in Australia. IF, this is the big IF, you are willing to start realistically cheap and then move up.

I doubt any of the investors here ever started with a mansion for their first. I bet if we ask for a show of hands everyone started with something small.

Newbies, if you are reading this, don’t take any notice of “Get Up FHB” instead you “Get Up and start buying” before they wake up to themselves.

Get Up, FHB advocates, you really DON’T want to experience an investor strike. Trust me, you don’t. Life will become hell for all. So please perish the thought.

This is my rant for the day.

Angelina

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 1, 2011 - 6:35 pm

Hi Zaul,

This being the case, you should really tap into a Canadian property investing forum. As much as we’d all like to help, we are not familiar with Canada’s real estate market and Canadian tax laws.

Reading our comments here will confuse you because we always refer to Australian realities, which may not be applicable to Canada.

The way I see it, you have an immediate problem of finance. The first thing you need to do is get a higher paying job. Improve yourself, Mr Blockbuster is a dead-end job. You may have to earn a degree or a diploma or ask for a promotion if you’re happy where you are.

With the increased income, save. With a small saving, ask the bank for a loan, flip a house (if that’s what you want to do). Repeat your success over and over again.

It really is very unromantic and unadventurous in the beginning but once you gain momentum, you knows where you’ll be? The next Donald Trump?

Take care and good luck.

Angelina

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 1, 2011 - 5:47 am

Hi Marjac,

Glad you picked up on the humor.
Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

March 31, 2011 - 5:22 pm

Hi,

Richard, your comment about proving a “financial benefit” brought back some memories.

Back when I was a lender with Colonial State Bank, I had a discussion with the Credit Manager about allowing both parents to be co-borrower with their son.” He goes, “What’s the financial benefits for the parents?” I went, tongue-in-cheek, “Well, for one thing, the son gets to leave the house.”

Cheers,

Angelina

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

March 31, 2011 - 5:07 pm

Hi,

The second agent must have a hole in the head. Did you check?

Where I live nearly all agents have employed the strategy of any offers $ considered.

No, you DON’T have to accept offers that’s not acceptable to you. You can take the offer on board but you certainly have EVERY right to say, “No, thank you.” Last I check, Australia is still a democracy. You don’t have to take crap from anyone. (I was cranky after your post, I had to take a deep breath).

Take care. and tell the other agent to shove it.

Angelina

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

March 31, 2011 - 4:59 pm

Hi All,

Glen, Paul is right. I urge you to contact the creative people here before doing anything you’d be sorry for.

I agree that “tut, tutting” doesn’t help Glen in his current predicament. All we can do is try and help, either by encouraging him or offering a solution. He already knows he’s made a mistake. Pointing it out more doesn’t give him any hope.

I just feel a lot of newbies can find lessons in this thread (even experienced investors, too). We learn from mistakes, even other peoples. I’d be the first to tell of my horrible mistakes (more of that in another thread).

This is really a cautionary tale for all of us.

Glen, please let us know how you are treading. As fellow investors, none of us… absolutely… none of us takes any pleasure in someone’s heart and headache.

Take care,

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

March 31, 2011 - 7:40 am

Dear Glent,

If you’re reading this, I hope everything turned out well.

Perhaps, what you need to do is to contact some very creative people here,

Until you’ve spoken to them, don’t make any hasty decision.

Check your private messages, it’s possible someone’s tried to contact you already.

Angelina

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

March 31, 2011 - 7:12 am

Hi all,

Please read, very interesting. Information is not just for people hoping to invest in Syracuse, NY. Relevant to all US propertires. I think.

http://realestate.syracuse.com/?classification=real+estate&temp_type=search&tp=RE_syr&tl=42&guid=139303

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

March 31, 2011 - 7:00 am

Hi Jamie,

this is all a little bit of an experiment. Very early days but I will surely report back when I know more.

Angeli

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

March 31, 2011 - 6:22 am

Thanks Jamie,

You got the point.

I don’t buy houses with number “4”, full stop. It’s too ingrained in my psyche.

I know, I know, it has no logical sense…. blaming my ancestors for it.

Bless you guys

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

March 31, 2011 - 6:19 am

Hi Amit,

Insurance companies pretty much offer the same protection and exclusions. You must decide on customer service and price.

Usually, if you package your car, home and contents and landlord insurance together with the same company, you get a discount. But then, some people prefer insurance to be handled by different companies.

Take care.

Angelina

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

March 31, 2011 - 6:16 am

Hi Yann,

In researching suburbs to invest in, I always to go:

http://www.domain.com.au/public/apm/default.aspx?mode=research – in the box where it says “search” I will put the postcode in. It gives an overview of demographics, median price, etc.

Trawl the council website. I want to know what the Council leaders, the eldermen/woman, are planning in the short, medium and long-term.

Go through the “for rent” property listing online to find what what an “average” house rents for. Calling the managing agent to get estimates help also but you would definitely want to see the reality.

Catch the train, bus to the suburb. Walk around. Go the local shops (if people are way too depressed looking, stay away). If I feel safe, I know it’s in the short-list.

Talk to business owners.

Check out the school against NAPLAN. Cheltenham is increasing in value every year because family with a daughter wants their girl to go to Cheltenham Girls High School. Families like to give their kids the best education they can get, even if its public school education. We can’t all go private or selective.

Read investment magazines, they’re good source of info.

Hope these practical advice helps.

Angelina

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

March 30, 2011 - 5:47 pm

Hi Terryw,

I’m a huge number cruncher… yes, I did do all sorts of number calisthenics. Paying the $80,000 would have killed me – INSTANTLY. I feel really bad for your friend.

When I have time today I will start a thread called, “MY mistakes you can learn from.” I believe people can learn from our mistakes, as much as from our successes. If that thread can stop people making the same error in judgment, it means I’ve helped someone.

On CGT, I’ve never had to pay a lot of money on CGT. There are planning and timing you can do to NOT have to pay massive CGT.

All my properties are in my name only (not family trust, no company name, etc) so easy for me to get away with lower tax payment. What’s killing me is the NSW land tax, but that’s another long story.

Thank you.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

March 30, 2011 - 5:33 pm

Hi tugger,

how much you pay is on a council by council basis. Call the Hobart Council for information.

To strata or not to strata is also a council issue. .

I hope this helps.

Angelina