Forum Replies Created
Didn’t know you could get paid for doing THAT!!!!
Regards
Patrick
The dumbest question is the one you don’t ask.
I’d do the playing with kids thing, but only if my wife promised to use the free time it would give her for R & R, not to do housework! If not, then an hour of ironing (or something) for me so she can sit and knit.
Regards
Patrick
The dumbest question is the one you don’t ask.
February 3rd
I also like red wine [thumbsupanim]
Regards
Patrick
The dumbest question is the one you don’t ask.
Hi Yack
My rural IP is in the UK, so the situation is slightly different. I paid it off 3 yrs ago and whilst the loan was still running it was still giving me approx. 14%. Its a bit less now as I’m having a fair bit of work done to it (extending house, buying land to make block bigger etc). As I said in another post tonight, the only hassle is getting thr tennants to cut the grass!
It was the location that interested me, only 10mins to station & 50mins to London. Initial CoCR was awful but has paid off hugely since. [biggrin]Regards
Patrick
The dumbest question is the one you don’t ask.
Sorry – I’m a big home renovation/gardening show type (sad I know). Detest most reality stuff (except The Apprentice). Then its Macleod’s D’s, still like it, Blue Heelers & Alias when I get onshore.
Regards
Patrick
The dumbest question is the one you don’t ask.
DIY is definately the go. You may not be able to claim the work done but you’ll still be able to bump up the rent a little. If you’re not that way inclined, just start on the easy stuff or rope in a mate to help out (often only costs a couple of beers).
I have a rural IP & other than repeatedly having to ask the tennants to cut the grass (they didn’t want to go halves on gardener) even when a mower is supplied with the property, there have been no problems. Quite the opposite. I realise the the risks may be a bit higher rurally, but that is the way I’m going to keep going.Regards
Patrick
Hi Kay
Thanks very much for the info. Now I understand!!!
You’re a legend. I think I’ll try & stick to the regional stuff though (just a pref).Thank you,
[thumbsupanim][thumbsupanim][thumbsupanim]
Regards
Patrick
Hi guys,
I haven’t got the info with me (I’m on an oil rig in Bass Strait at the moment) but I can go a bit further with the measurements thing – how about poles and perches? They’re the next increments down from a rod. I came across these on maps of family property in the UK (dated 1770s!)
[specool](What the &%¤/&¤%# are you guys doing up at this hour on a Saturday? I only get up at 4.45 because I have to!)
Regards
Patrick
Hi all,
Just to clarify for me – If an IP is CF+ with a percentage higher than you could earn from a bank account or similar-risked other type of investment, aren’t you on a winner?
Granted there are smaller profits & larger ones, but profit is still profit that can be ploughed back in to finding & securing better returning IPs.
I look forward to being able to “do a Kay” and have little or no trouble finding an 8%er. I just need to keep poking aroung the forums to glean as much info as possible.As for the negative comments about some squabbling on this thread, it came across to me as a slightly heated discussion between several individuals who may not have been on exactly the same track.
Lastly, thanks for everyones input – without it us newcomers wouldn’t learn very much!!
[biggrin][biggrin][biggrin]Regards
Patrick
Hi Beck,
There are a bundle of sites about, most of which seem to have a section on commercial property/businesses. Some off the top of my head are:
http://www.noagentproperty.com.au
http://www.hotproperties.com.auIf you do a search on this site, (your question has been asked a few times) there will be a bunch more.
I hope this helps a bit.[thumbsup2]Regards
Patrick
Sorry,
Just realised that I’m not quite on track, but its the thoughts that count (?)!!Regards
Patrick
H Guys n Gals
Just a few comments from someone who has been a tennant with a pet & now has a landlord( with a different pet) .
Please note: These are purely my oppinions & only intended to help the thought process (they may unintentionally stir the pot!).As a tennant (2BR GND flr appt)
I asked the landlady if a border collie was okay. Her reaction was: Okay BUT…. if there were any complaints about barking, smell, “deposits” in the communal gardens etc. then it was departure time for me & hound. As a show of faith, I offered to pay additional bond money or any additional legal cost for the extra clauses in the tennancy agreement. This created one of Steve’s win-win situations – my offer of cash had given the landlady peace-of-mind (she declined the offer) & Jess & I got a great place at reasonable rent.As a landlord (3br house):
As part of the due diligence process, I always ask the pet question (as a tenant or landlord). Current tenants have a springer spaniel, a foxy & a lab. Wasn’t too keen on that quantity of hounds inside because all the rooms except kitchen + bathroom have oiled floorboards (have you seen what K9 claws can do to softwood floors?). Solution – I put a small shed right next to the back/kitchen door. The hounds are allowed into the kitchen but nowhere else & sleep outside. Tennants happy, landlord happy (pristine floors & tennants paid up-front for 12 months) & dogs always very, very pleased to see anyone.I can understand the pet phobia thing but with some reasonable give & take, a win-win situation shouldn’t be that hard to organise. There are times when a pet is unacceptable – Irish Wolfhound in a sml 1br flat etc, but each scenario needs to be assessed when the time comes.
Be happy,
[thumbsupanim]Regards
Patrick
Hi
As I understand it, you keep paying interest until the principle is paid in full.
So if you borrow $100k, you’ll payinterest on that $100k until you sell the property (giving you the funds to pay out the original $100k) or if you’ve done really well with your other IPs (Investment Properties) & have the cash to pay it out. Make sense? I hope so (not convinced myself!!!).
Remember to use the site’s search engine for all this sort of stuff & there are loads of threads on all the abbreviations too.Good luck [suave][suave]
Regards
Patrick
AAAAAARRRRRGGGGGHHHHHH!!!!!!
I just happened to come across this thread by accident! Have you guys any idea how much work I could have got done today? The stupid thing is that I still had to read the couple of pages after the answer!!
Very amusing none the less.
Thank you ALLRegards
Patrick
Hi Damian
Well done! You’ve asked the questions. Remember that there is no such thing as a dumb question.
I’m quite new to all this too, I’ll try my best to help.
1. I don’t know about the amount of FHOG (first home owners grant) you can get, I’m under the impression that its $7000 countrywide & an extra $5000 in VIC.
You can use the grant to buy an IP (investment property) PROVIDED THAT: You begin living in the property within one year of the purchase date AND you must live in it for 6 months. E.G. Buy it, rent it out for 364 days, live in it for 183 days & then rent it out again.
2. You can usually put down any deposit you like BUT there are pros & cons. Less deposit means more cash available for more deposits but you may then be required to buy mortgage insurance.
More deposit means less cash for other deposits but less to pay off on your IP.
3. Talk to several brokers first, see what they have to say. It may cost you, it may not. Until you get more experience, a broker is the way to go.Regards
Patrick
Reason for choosing my Avatar?
Being a new member, I poked around the various forum that interested me and noticed the Avatars. I saw that nobody had decided to “think pink” & chose THE panther.
On reflection, I would like to think of myself as a cat burgler type – anonymous, slightly devious and ultimately only “borrowing” off those who deserve it.
Sadly, with some of my early post involving a couple of daft questions, the real deal stuck me.
Pink in the face, dopey grin….Regards
Patrick
Hi
My wife & I seem to go the way of putting most things on the visa card & pay it off completely each time a bill comes. That way our cash stays in the offset acct. longer! The points earned help get the family to see my parents in the UK.
Layby – most definately! We have just paid off our new pigeon pair fridge + freezer (haven’t had a dedicated freezer for 4.5yrs.). We went to a large high st chain store where Wife haggled like mad (she made sure we both had scruffy daggy clothes on for effect). The end result was $200 off the fridge+freezer (tot.), with a toaster, kettle & steam iron thrown in for good measure. Having negotiated all that, Wife says “Layby please” and the poor salesman was so stunned he said yes!
[thumbsupanim]Off the thread slightly, one day I’ll tell the one about Wife negotiating the purchase of a new car!
Regards
Patrick
This is fascinating!!
I felt that it would be a bit rude to read about all these interesting jobs & not contribute – so here goes:
1st – Research forester. Measuring trees to see how long it would take before we could cut them down & plant more!2nd – Divemaster. Being paid to dive on THE Reef & guide people around. There were some other fringe benefits for a young backpacker!!!
3rd – Self employed forester. Tree lopping etc. and the largest firewood delivery round in southern U.K. (approx. 1400-1700 cubic metres per annum)
Current – Gas safety & emergency respose specialist on offshore drilling rigs.
Thanks to everyone who has had a dip, it’s been very entertaining.
Regards
Patrick
Hi
It’s all down to how hard you want to push ahead.
I’m an owner occupier with a wife, 2 year-old & an 8 month-old. My plan is to pay off our house before I buy IP #2. (Already own IP #1).
If I were in your situation I would probably go ahead with the IPs.
I’m fairly new to all this, so there isn’t much fact to back-up my thoughts.
I hope this is of some use.
RegardsPatrick [suave]
Regards
Patrick
Sairah
If it were me, I would be more likely to hire a builder/building inspector(& go with them on the inspections to glean info) until you get a better feel for it. I have had general inspections done before even submitting an offer (almost “office policy”).
Provided you have finance roughly squared away, you don’t need an agent. I just use conveyancer after the offer has been accepted. Scott’s points are also very valid.
Hope this helps a bit.
RegardsPatrick [suave]
