Hi jasno77,

I jumped from the other direction.  I can relate to you.  I was petrified when I made the decision to do day shares trading after not wanting to know about for a million years.   Now, I'm quite happy to say it's convinced me I will make more cash flow positive moves trading in shares than I did with property.  This is one reason I'm selling one blue-chip asset.

At any rate, if you still need convincing, you will make money in property… you will.  It's just not in liquid form.

Take care.

Angel

Hi Wirraway,

If the debt burden is not too heavy, carry it for a month or two.  I can only assume that by the 45th day your partner (ex), will come to his or her senses about the real "value of the property."

Match the highest offer and say that at least you both get to save on agent's fee.  Just so there's no complications or unwarranted accusations that you may be rigging the result in your favour, allow ex-partner to be in charged of the selling process.   Let ex be the boss from picking the agent, to the means of advertising, etc. 

When signing with an agent, don't sign for exclusive agency agreement.  Make sure the agent understands that there is a chance you'd buy the property yourself. When agent and partner say we got an offer for this xxxx amount, ask to see the offer in writing.

If you're satisfied, match it and be done with it.  However, there is also a chance someone would offer to buy at the price you can't possibly refuse. Sell it and enjoy the proceeds.

I hope this practical solution helps.

Angelina

Hi Wade Anthony,

This is my strategy and I’m 100% sure that it is NOT the best but it works for me.

Wherever possible, I sell in July. Or I delay settlement till 1 July so I am able to have 12 months in which to put in place a tax minimisation plan. Remember that tax minimisation is not the same as tax avoidance. The former is legal, the latter illegal.

Please note, I said, whenever possible. This means the benefit should far outweigh the negative, in terms of timing.

Tax minimisation may mean spending some of the sale proceeds to do some repairs or capital investment in another property. Or, re-investing the tax dollar before it is required to pay ATO.

When I sell in July, CGT is not payable for another 12 months, and then I waited till October to file my income tax. If I’m anticipating tax refunds, I file in July. If I’m anticipating owing ATO money, I file in October. Time, after all, is golden. It can be your best friend.

I hope this makes sense.

Angelina

Hi Peachy,

I may have a solution for you that's safe and involves only minimal risks.  The strategy also includes the possibility of a baby coming into your life sooner rather than later.  A plan should always include a contingency like this.

If interested PM me here or email me directly on [email protected].

Take care.

Angel

Hi all,

This is my own opinion only….based on personal experience.  I will NEVER, EVER buy a unit again.  I live in a 10 bedroom house, with 2 kitchens, 4 toilets and showers and it DOES NOT cost me $6K or $21K to maintain it.

The day I have this much money to give away, would be the day I can really call myself a millionaire.  For now, I am still a battler so owning a unit is not for me.

Take care all.

Angel

Hi Infallible,

The property market is flat at the moment,  save for another 12 months and get a cheaper rate and borrow less.  There is a time for everything under the sun.  Now is the time to gather strength.  There is no hurry.  Why pay crippling interest rate that could possibly set up back again?

Use the coming 12 months to good use.  Take care.

Angel

Hi SC541,

Never fear to ask.  Ask and you shall receive.  What are you worried about?    What's the worst thing that can happen?  They'd say "no" right?  And if they say "no", what's the worse thing that can happen?  You didn't get the property that didn't belong to you anyway.

And there is no rule that says, you can't give another offer?

Secondly, negotiation takes many form.  I had once been able to reduced an accepted offer by a further $15,000 by going back to the agent and saying, if they reduce it to xxx, I can settle in three weeks, "would that help them?"    Sure enough it would, so I got another $15,000 discount.

Hope this info helps.

Thank you.

Angel

Hi Propertyjockey,

I hope you are using the stats only as part of your research and NOT basing buying decisions solely on it.  You must also research the Council website.  This is CRITICAL.

I will give an example, a fellow investor invested in an up-coming suburb, all the indications showed it was on an upward trend.  He didn't looked in the Council website where it has been pegged as the suburb of choice for the upcoming garbage depot.

People who have bought there are now up in arms and lobbying the Council to dump the plan.  It was part of the Council medium-term plan, meaning this was disclosed by Council in their newsletters (who read them, right?).  The info have been uploaded in the Council website for years (who also read that, right?).  And now the people are blasting the Council for the new garbage site that's suppose to open???

Make sure your research is WHOLISTIC, not just stat-centric.

Google is also very powerful tool.  I wanted to buy in either my two dream suburbs:  Beecroft and Cheltenham Sydney.  The only houses I could afford are on Boronia St., and Castle Howard St., etc.  Having surveyed the area,  I was turned off them because they were very noisy streets and nothing could potentially fix the noise problem.  But what alarmed me is that further google research showed that the freeway is going to be expanded.  Wow!.  Imagine that.  You could be sleeping with ear muffs.

In order to "pick" the right property, you must also let your legs do the walking.  .

Take care.

Angel

Stever1,

You'd be surprised how little you'll end up with at the end of the day.  Steve, find out the NET income after grossly expensive strata fees and management fees have been deducted.

It is peanuts with a little p.

Take care.

Angel

Hi,

The newer the building, the higher the costs of quarterly strata.

There are new buildings in Sydney CBD that charges up to $25,000 a quarter in strata fee.  The building known as the "Toaster" near the Sydney Opera House had one penthouse which was for sale a few years ago, the quarterly strata fee was advertised as "approximately $100,000!!!!"  Imagine how much they're paying now!!!!

There are suckers born every minute.

Angel