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

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

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

Hi Marjac,

Glad you picked up on the humor.
Angel

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

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

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

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