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  • Profile photo of Coogee126Coogee126
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    @coogee126
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    Post Count: 51
    February 15, 2015 - 11:18 pm

    thanks TerryW and Richard for your response. It gives me some confidence and lots of clarity. I had a thought about this after reading your replies. I think i need to focus on reaching the goals in 2015 and squeeze for 2016 ( i figured if i really tried hard enough, i probably still can get my goal set for 2016 reached, but i m not sure about 2017 to be honest). so i suppose if you cant borrow more after tried everywhere, you cant. it’s a sign to say ‘have a rest for now’. then you just need to keep your head down and keep paying down your debt and wait a bit..

    Profile photo of Coogee126Coogee126
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    December 1, 2014 - 11:03 am

    yes.. I knw what you mean. but i have been frugal for years and i work hard be where i am today.. I read warren buffet and remember him saying, money is your seed need et cetera… I do love money but not have the will power like warren. so I guess it’s time to enjoy a little fruit of my hard work….i think the excitement of driving a nice car is at par with the lost dividend or potential cap growth or whatever.. compound term, maybe i lose more but i would be dead by then.. Life is short and you gotta enjoy when you can ( sensibly of cos ) .. Sorry, I am a vain gal ! :)))

    Profile photo of Coogee126Coogee126
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    December 1, 2014 - 10:54 am

    Jimmy, 150k is a lot of money to be lost due to the lease.. you must have a top of the range car lease. it’s better to pay cash.. i suppose..

    Profile photo of Coogee126Coogee126
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    September 29, 2014 - 9:42 am

    haha.. thanks so much . guys.. appreciate your help to clarify my so called ‘genius’ idea.

    Warm regards,

    Profile photo of Coogee126Coogee126
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    February 18, 2013 - 11:51 am

    Thanks all for your replies. Especially Terry.

    Now We are in the process of negotiation with our neighbor to see if we can sort this out between ourselves first. I think we will need to do some drive through testing before set up the new fence. As long as we can pass the vehicle , I am fine with re define the boundary. as we end up having an extra tiny bit of land too devil

    Is it crucial ( or rather 'common sense')  to have survey done yourself when you purchase a house ? this is my first time buying a house, I only purchased a few units before. I was never aware that we need to have our own survey done prior to purchase a house?  I thought only the ‘ building and pest’ was necessary for  house purchase ( like you do strata report when purchasing an unit) .

    What pisses me the most is that we were totally blind about this issue before we purchase.

    I wonder if fencing position and boundaries are by law mandatory to be disclosed in a sales contract ? 

    Since the vendor’s surveyor report ( attached to the sales contract) didn’t clearly mention this fencing boundary discrepancy issue ( it only emphasis on no encroachment  , which I thought was what people are mostly concerned when buying a house)   .  Should a surveyor clearly state the fencing boundary position especially when it is not aligned, or should ( lacking of this crucial information) being picked up by my lawyer before I sign the contract ?  surprise

    Profile photo of Coogee126Coogee126
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    February 17, 2013 - 8:43 am

    thanks for reply.  the vendor did a survey and attached the survey report to the sales contract. on that survey , it draw a sketch and did have an easement registered on the title ( it's called right of way) , based on the figures showing in the sketch, the fence is 16.5 meters and subject to right of way for the shared drive way . but the actual fence exist now is only 14 meters.  so to say, the survey didnt point out that the actual fence is shorter then the sketched boundary. it only says there is no encroach upon any adjoing proeprty or street. 

    never would i imagine the fence is actually shorter than it was supposed to be, nor did we go to the house and measure it's actual fence length before we sign the contract.

    based on the sketch,  ( i think ) our neighbor is within his right to correct the fence to where the actual boundary was (since  he is not touching the easement portion of the land, he is only try to fence up his own land)  , but doing so will make it almost impossible for us to drive a car through . ( due to the angle etc…) 

    I was told that the two properties was used to owned by father and son, so they must have voluntarily shortened the fence in order to allow both drive through smoothly.  now my neighbor wants his land back which is fare enough. but I end up paying the huge cost which i was not made aware of in the beginning.

    Profile photo of Coogee126Coogee126
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    May 19, 2011 - 2:08 am

    ha… thank so much.

    my detail is

    [removed personal details now that it's complete]

    Can I have your contact details as well?

    cheers

    Profile photo of Coogee126Coogee126
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    June 29, 2009 - 1:01 pm

    Hi , Angela

    Yes, understand your situation. I think It's quite risky to maximum out on LVR for the sake of 'asset protection".   as your wealth is measured by how much equity you have rather than how big your loan is.  I also doubt if leverage to the max will really protect your asset, in my view, when you borrow up to the maximum, it is not your asset anymore. it is the bank's asset.

    if asset protection is vital to you, then I suggest you stick to your first option, set up DT and buy postively geared IP to offset the loss. Or buying IP with your super fund.

    my two cents.

    Profile photo of Coogee126Coogee126
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    June 26, 2009 - 9:21 am

    Thanks very much !! Much appreciated !!

    Profile photo of Coogee126Coogee126
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    June 24, 2009 - 6:26 am

    thanks very much for your advise.

    Profile photo of Coogee126Coogee126
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    June 24, 2009 - 6:26 am

    thanks very much for your advise.

    Profile photo of Coogee126Coogee126
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    June 22, 2009 - 8:57 am

    hi, you will have to hold that IP for more than 12 m to get discounted CGT ( 50%) if claim the house as investment property, however, you might lose the FHG eglibility if you have not claimed FHG before.

    if you claim this house as your PROR, you can sell that place exempt of CGT, but you need to live in that house for a reasonalbe of time.

    for FHG, you will need to move in within the 12 months of the contract date, and live in that house for a continuous 6 months to get the FHG.  you can sell that place exempt of CGT if claimed as PROR.

    Profile photo of Coogee126Coogee126
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    May 12, 2009 - 1:11 pm

    Yes. I have. You are not alone. I have a colleague who had exactly the same opinion as that lady. And that explained perfectly why he stays where he is now — struggling. Please do not pay any attention to opinion like that, actually I also suggest you stay away from people like that the best  you can.

    I agree with you that we investors are helping the government to provide housing which is very expensive to do by government alone. My colleague also argue that investor shouldnt have any negative gearing benefit at all. He thinks it is the greed and speculation that push we (investors) to the property market and make them less fortunate. I think this is also B.S, as we get tax benefit only if we incur a lose, even though we can claim some depreciation, but over time it will decrease and as rent goes up, we investors will be positively cashflowed eventually , hence contributed to the tax revenue. when we sell and buy, we also pay stamp duty and CGT , which is also benefit to ATO.

    I think the reason they said that is because they are frustrated that they can not get ahead, But feel the need to find someone else to blame. If they have to come up with reasons why they cant do this, or that. They choose to pick us, because it is easier and make it ok for them to do nothing.   Dont listen to them, they want to blame, let them.  I bet with that sort of attitude, you can imagine what they will end up with. They can stay where they are blaming the whole world, while we go ahead and snatch a couple of more cash cow for our retirement. As by the look of it, the Goverment is not going to do that for us.

    Good luck.

    Profile photo of Coogee126Coogee126
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    March 25, 2009 - 12:39 pm

    Hi, I am very intersted. Is this ticket still available ?

    I was looking for a friend/partner to join so I can share the cost.

    Please contact me [email protected]

    Profile photo of Coogee126Coogee126
    Participant
    @coogee126
    Join Date: 2009
    Post Count: 51
    March 25, 2009 - 12:39 pm

    Hi, I am very intersted. Is this ticket still available ?

    I was looking for a friend/partner to join so I can share the cost.

    Please contact me [email protected]

Viewing 15 posts - 21 through 35 (of 35 total)
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