Forum Replies Created
I’ve been reading this discussion with interest because it has been bugging me too.
I’ve got my mother who is living in a Housing Commission house and on pension – it was without her choice (divorce and the crash in 1990s hasnt helped). I know she’s not the only one BB in the similar situation, but there is a huge lack of housing, services and support for people over 55s, except those who are lucky enough to be quite rich enough…
I could see there is a market for housing development for people over 55s who are on the low level of income… but the problem is location and money for the development – perhaps I cannot see that well heh.
Anyway, as for the generation differences. I am a GenX while my two sisters are GenY, however I felt that its more the other way around. I got married early and am expecting my third baby in 8 weeks time (I usually joke that I am doing the Costello – “one for daddy, one fo mummy and one for the country”). Am a staying home mother however I also work casual as a research assistant on demand (its like Im on demand forever!). I am torn between working or staying at home becuase I enjoy both! Kids both been in child care and loves it, only after 15months old – it allows them plenty of interactions, so depends on type of situations families are in and locations they’re at – in my area not many families at the same stages as us…
As for the government payouts, I scorned at the $3, 000 payment because it doesn’t really help at all. I felt it’s better off aiming at those with needs than us who are ‘better off’. (I am not saying I cope well, of course there are days when extra monies is welcomed.) I think it is a case of priorities for the government with taxation and such. My husband felt that he is paying way too much tax and for what… we have our own private health insurance, house full-paid off, two cars, etc… and we dont have any payments from government at all, but still we are required to pay extra more tax, just because we have more money than most. There are some inequalities in being a middle class I guess…
Anyway, my main concern is how the charities are “taking control” of the services that the government usually provided in past. This is my attempt to explain something that many wont think anything’s odd.
Im deaf and requires sign language interpreter to interpret/relay information between me and any hearing people in almost all situations. Anyway, after years of lobbying for a National centre of sign language interpreters (agency) that covers the health section for both deaf and hearing impaired people, the government has finally acknowledge the need and seek to tender it out. Two organisations that works closely to the deaf and hearing impaired communities applied and discovered that Wesley Misson won the tender! We are not amused nor happy with it – it indicates how government really works. Not for the appropriate needs of people but to throw it at others they think will have the idea fizzed out…
Sorry for the ramblings here.
Keep it going, its quite interesting…
Hello beverle,
I don’t have any investments at the moment except those in the shares at the moment (my husband insisted on this – I prefer properties myself).
It is much to the personal preference and comfort, as well as time.
I intend to have enough cash flow so that I don’t have to go work at all (I have two kids with one on way) and my husband wants to leave his options open in future (he loves what he is doing at the moment). I am not sure how much that would be, but I would like to have at least $25, 000 pa of income for myself (and kids, of course!).
From the discussion with our financial planner, we’d need to have at least 3 million dollars to enjoy our retirement well enough! This includes education fees for our kids, money for my mother when she needs extra care (nursing home, etc), and our ‘luxuries’ (read this as travelling!)…
So with all this, I’d think we’d need at least $100, 000 pa (plus any extra stored for our retirement) to live comfortably off our ‘investments’ if my husband decided to hate his job as a sales manager in future…
Sorry for a long post, but something that bugs me too so glad you brought it up, smiles.
By the way, when others refer to the cash flow, I wonder if it means per week, per month or per year, smiles…
Cheers
All this reno stuff being discussed..I was wondering if anyone who have got their properties done at a distance without looking or doing anyting to it? Who do you rely on getting ‘reliable’ information on what is needed to be done, etc? REA or ?
Still seeking a property to buy to start my investment (and fun)…
Cheers
Thanks to all who replied…
I know it is just generalised formula but still I’d like to sort all the ‘formulas’ to see which can work better for me in a ‘flash’…
I found this Positive Cashflow Calculator which is much useful when it comes to calculate most of required stuff, so will work with that for time being till I get used to all the things I need to remember (interest, stamp duties, rates, loan, etc).
Apparently, according to the Calculator, both properties are ‘in the bin’… smiles.
I actually would like to invest some in NSW, so am working things through before I actually start doing my research. You can say its like exercise stuff for me at the moment.
Cheers with thanks, darls.
Thank you Simon for your reply re responses from REAs…
Not in particular difficult for me to make calls, just that it will take almost as twice as long as any average call as I’d need to use Relay Service to relay my messages, etc.
I’ve only got one reply out of 12 emails from yesterday – but still the day is early, smiles…
Considering my position at the moment – just general idea of what some of you’d think I could do (apart from finding a broker and an accountant and go thru the actual number crunchings):
We own our home (valued at about $600K) up north of Sydney outright, investing $100K (from a $150K investment loan) in shares via Financial planner, has $50K cash on hand for emergencies (esp for my mum who is on pension and is generally unwell but living on the generousity of H.C.)…
So with $150K in debt, is it recommended to find properties and add at least $100K to the debt or find properties for $50K and build from it? We are not that keen on equity and are a bit worried about the interest rates (especially with three small kids to look after as well).
I’ve found several properties in south WA for under $50K with at least $3K to $5K cf… I may have calculated it wrong heh… still working on it – at least I am trying, smiles.
Looking forward to any suggestions and tips.
Cheers with thanks, darls
Thank you for your comments…
At least I know there’d be some who can help, etc.
You see, my husband is into the Share Market but I am not as I’ve had an interest in properties as far as I can remember – I even recall loved to go to the display houses and work out which house is best and check out areas, etc. My family regarded me as odd! lol… [biggrin] So basically I am almost on my own with doing this, however I am lucky because my husband is much flexible in as how I can do with the property investments…
Anyway, a question or two for you!
How do I ask a real estate agent about the sales, rental rates and type of developments in the area without being too ‘nosy’ or pushy? Is there a right way of asking for information or? What do you do – how you ask for information?
Are they reliable with emails or I’d need to make calls?
And when I look at the area, how do I gauge what type of development that could happen within 5 years? What type of developments do you regard the best ‘measurement’ for investing properties around? Apart from checking RE and councils, is there any other sources I can look at?
Sorry – yep I have lots of ‘long’ questions!
Thanks, darls
