Forum Replies Created
Dag xyzzy ik weet in Godsnaam niet waar dit over gaat, dus zullen we maar zeggen dat het over de huizenmarkt gaat en dat het erg interessant geweest zou zijn als we het hadden kunnen begrijpen. Liefs Celivia[
]Thanks Kay and others, I will thoroughly check this out. She’s also enrolled at Uni, believe it or not at Penrith if it will still be open.[xx(]
Celivia[]Aha Chook, you live so close![
]I have actually written to some lenders in The Netherlands a few months ago (I was born there). (No I don’t mean I was born there a few months ago[:0)])
I was interested because you could fix a loan for 5 years at 4% interest! Variable at 3.89%. Very attractive, made me feel GREEDY[}]. Not sure if rates have gone up since then.But all I got was a few big NOs, which I expected but still wanted to try.
It’s right what Simon said, security is a big issue.Thought about buying an appartment in Amsterdam, and have been in contact with some RE, but it would be very low yield. [xx(]
Also you don’t have as much control over your IPs as you have here.
Regards, CeliviaI have a line of credit over my PPOR and we have used this so far for a deposit (20%) and all cost on an IP. For the remaining 80% we have taken out an IO loan (fixed[
])
The idea is to repeat this with our next property.
We now dump our savings into this LOC to keep the interest payments as low as possible.I have one question about this though: We haven’t re-used the savings we deposited in our LOC yet, so that means that the whole lot of interest will be tax-deductible if I am correct.
But we probably will have to take out about $10000 to help finance my daughter’s education in a few months time This then won’t be tax-deductible.
So some amounts out of our LOC will be tax deductible, other amounts won’t be.
I am gonna carefully ‘keep the books’ so we know what’s been taken out for the IPs and what’s been taken out for other purposes.
Will this complicate things very much for our accountant (I’m sure he’ll) to work it out at the end of the financial year, or is it simple/common to do it this way?
Thanks if some one knows I’d appreciate it![]LOL Rubbachook, sorry Kay Henry, let’s change you back into a she/her!
Hopefully I haven’t given any other forumites a sexchange![]
Rubba you can go on fantasising.LOL Sooshie, I forgot about my reasons, I hate to hand out compliments, but Sooshie is making me [
]Melbear is just always there for everyone with great advice, is ever so friendly and explains things very well. Wonderful person!
Mortgage Hunter (Simon) is just the most wonderful guy, very professional and helpful and understanding, always offering help to anyone who needs it. He’s found a loan for me and he’s really great and never tires of helping.
Billfromoz is also really professional and knowledgable and always willing to help and has good straightforward advice and is not afraid to express his strong opinions, I like that.
Westan gives fantastic advice and is always helpful as well, and friendly, has heaps of patience.
SIS is just amazing and admirable, he is a natural with already many IPs while he’s still studying, and is also offering great advice. Yeh SIS I still think you have a magic wand.
I forgot to mention Kay henry, I like him, he has a good sense of humour, and also he comes across as a really caring and lovely and selfless person, and he’s a thinker.
As I said, I find most people very helpful on this forum, not only the ones I mentioned.
How can I choose just one, you’re all wonderful!THis is such a hard topic to dicuss (well for me it is) as I can see two strong contrasts:
No I definitely do not want to take advantage of vendors in a bad financial situation:Love[:X]
Yes I want to pay as little as I can for an IP: greed.[}]This is a very personal topic, What seems OK to one person may feel terrible to another. Although there must be a line somewhere in the middle that I haven’t discovered yet.
I have asked myself, How can I buy a property for as little as possible without ‘ripping’ someone off? Gee kay Henry why do you make us think so hard? It hurts.[:0)]
I haven’t found an answer, but, for me, I think to balance these two contrasts a bit, I would have to really negotiate with myself.
Yes I will feel bad if I cause someone financial misery by paying a very low price. But as Fatboy says, if I don’t buy it someone else will.
I may, like Fatboy, still take the deal. However, I think I would still feel quite bad.I would however try to make the way out as comfy as possible for the vendor, e.g. give them what they want, long or short settlement, maybe help paying for their moving out, let them rent back the place and be the most wonderful landlord[
] under the sun, or let them take what they want (as long as they leave the walls)There must be more or better things you could think of to do for them.
The question is, doing heaps of good things for these loosing-out vendors seem very lovely and charitable, but is it still done out of selfishness, to make MYSELF feel better about the situation? Maybe a combination.
I do know, being charitable makes me feel good, but then again, first causing misery and THEN being the good Samaritan HHMMMMMM Is it like kicking the @#*$ out of someone and then nursing him?
Although, it’s not the buyer who actually causes the misery, I’m not sure if I’d feel like I was guilty.It is a hard question, Kay, and I just am not sure what I would do.
I need more experience, have only 1 IP so far and I think afterwards, that we paid a little too much for it.[] (But I can sleep![])
I’d love to be in the position one day (soon) to find out what my feelings really are.I also agree with Dinoweb, for me, paying fair value might be the best solution. But then again… I might probably still grab a really good deal. Otherwise Fatboy will grab it! OOOH I dunno people!
As I said, I’d have to experience it to really know how it feels.This is a very interesting topic, Kay Henry! Love to find out what other people have to say about this topic.
Regards Cecilia
SIS I am soooo jealous[
] (I’m sure others are, too!)
I really think that you have a knack for it, born to buy cf+ IPs I can’t find any. I wish I knew how you did it!!
May be you’re in a secret location with lots of cf+ around you.[:0)]
May be you have a good developed intuition and all you have to do is follow your nose to find them.[]
Or do you have a magic wand and make cf+ IPs just appear?[:0)]
OOOOOOOOH SIS if you knew how I envy you![:0)]Seriously, I admire you.[^]
Do you do this full-time, SIS, and do you have a lot of time to go for long drives to find them? What I mean is do you look for and drive around most days?
Anyone know what kind of car SIS drives, let’s follow him! Any good spies on the forum?[}
]Keep going SIS, good on you!
Thanks SIS and Sunshine for your great info, I don’t know enough about all this, so I need all the info I can get. [
]I find it very hard to single out one person, there are so many wonderful forumites. So if I can have a few favourites, Melbear [:X], Mortgage Hunter[:X], Billfromoz [:X](so[
] he left) and Westan[:X], and I like SIS [:X]also. Also many others.[:X][:X][:X]
Don’t make me choose, I can’t!!![][
] Bill I fully understand why you want to say goodbye, but I feel sad you’re leaving. []
You have given me such good advice on the forum, it helped me make the right decision. Gee I will miss your input!All I want to say is you’re a wonderful person and I wish you lots of luck and happiness for the future.
[] Warm wishes, Celivia []“…secondly negative gearing in it’s current form must go. I think it keeps prices at an artifically high level and rents at an artifically low level. So I believe neg gearing needs to be changed to be more like the american style. Keeping deductions in the same asset class is quite important I think.
dglees 45, would you mind elaborating a bit about the American style of neg gearing? What is the difference between the American style and the OZ style?
Thanks, []
]
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) to work it out at the end of the financial year, or is it simple/common to do it this way?
]
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] under the sun, or let them take what they want (as long as they leave the walls)There must be more or better things you could think of to do for them.
] (But I can sleep
]
