There were heaps at start of year, but market has caught up with rest of country, so +cashflow houses are getting harder to find. Me in Geraldton and looking currently. Oh well, I’m sure something will pop up.

Work smarter, not harder!.

The old saying “A penny saved is a penny earned.”
Seems to have been overlooked here. I’ve recently made myself a still from which i produce my own pure alcohol spirit. Costs me about $7.00 to make a pretty decent bottle of whisky. At a geuss i’d say i’m saving about $30 a week. Might sound like peanuts but $30 x 52 weeks = $1560pa multiply this over the next 40 odd years and i’ve saved $62400.00. Only cost me $500 to make my still! not a bad investment plus a great little hobby. Not to mention the $20 i save by taking a hip flask to the pub with me each time. Maybe that should be a dollar saved is a dollar earned!

Work smarter, not harder!.

People like to feel secure. Maybe installing some security like an electronic gate in to the complex could warrant raising rents. At least something like this is only one initial outlay which directly affects all 4 units.
Anyway just an idea.
CYA.

Work smarter, not harder!.

“(and before anyone gets narky….there is no offense or malice intended. The question is raised as a mere point of interest, entering into the debate is by personal choice only. The author hereby accepts no responsibility for relationship break-ups, injuries or loss of any kind.) LOL “

Ha ha nice one monopoly, i think i should have included the above in my last post.

Work smarter, not harder!.

[buz2]Confusedus say “Man invest money on stockmarket, silly silly grasshopper.”
“man who divide 500 000 dolla into 25 equaw deposits, vewy vewy wise.[buz2]

Seriously, think about it, 500000 / 20000 (decent sized deposit for cheaper homes) = 25 potential properties. Lets say around the 120 000 mark in the cheaper areas.
This would mean his net worth would be 120 000 x 25 = 3 000 000 big ones.[biggrin]
Now lets geusstimate that the average rental was a reasonable $145 a week. $145 x 25 = $3625 per week! not bad.
$3625 x 52 = $188500 per year[biggrin].
I know what i would be doing.
Naturally all the fees and crap that comes with them would put a bit of a dampener on things, but you get the general idea.

Work smarter, not harder!.

Heres what u pay in WA.

Land Tax – Rates Effective for the Year 2003/2004
Aggregate taxable unimproved value of the land
Exceeding ($) Not Exceeding ($) Rate
0 50,000 Nil
50, 000 190,000 $75.00 plus 0.15 cent for each $1 in excess of $50,000
190,000 550,000 $285.00 plus 0.45 cent for each $1 in excess of $190,000
550,000 2,000,000 $1,905.00 plus 1.76 cents for each $1 in excess of $550,000
2,000,000 5,000,000 $27,425.00 plus 2.30 cents for each $1 in excess of $2,000,000
5,000,000 $96,425.00 plus 2.50 cents for each $1 in excess of $5,000,000
Metropolitan Region Improvement Tax-Rates Effective for the Year 2003/4MRIT is imposed at a rate of 0.15 cent for every dollar of the unimproved taxable value of the land.

Work smarter, not harder!.

Ps: Try this link sport. http://www.ato.gov.au/individuals/content.asp?doc=/content/29092.htm&pc=001/002/026/004&mnu=4189&mfp=001&st=&cy=1

Work smarter, not harder!.

We looked at Collie for a while too. Then decided the town was too reliant on the coal factor. Seems as though the town has reached a saturation point. Everyone has a job and a place to live and i can’t see many new job opportunities coming up. We couldn’t see anything that would inspire many people to pack up and move out there either.
C YA.

Work smarter, not harder!.

hmmmm, good questions. Well, Cremin and I would probably buy four places with $62500 deposit on each one. That would nearly pay the whole property off and once it is rented, the tenant would be paying the rest off and there most probably would be a lovely big cache of positive cashflow! I would probably fix the interest on 2 of the properties and have flexible on the other two.

That’s what we would do anyway…
Cheers,
Steph.

Work smarter, not harder!.