Don & Liz,

Does the data extend beyond just the number owned to the median price of each prop ??

I’ve expressed my opinion on this forum before on this subject, but a chap who owns 20 props (little $50K units) with a 900K debt would qualify as having a large portfolio by the above criteria. In reality he has a rather small exposure to the…[Read more]

1. Both the wife and I are 35 and have been investing for 12 years.

2. We have a goal of retiring from work in April 28th 2007.

3. The financially free thing is a bit subjective and dependent on how we restructure the assets. We could pull the pin now and live in a debt free PPOR with income of $ 150 K p.a., without eating into capital, but…[Read more]

Holy smokes Tools…

We only paid $ 114 / sqm for the dirt. If that is an accurate figure for hardstanding, looks like it’ll remain as dirt.

We rent it out at $ 1 / sqm / month…so I guess hardstanding might take a while to payback ??

Hmmm…need to get my calculator out I think.

Cheers,

Dazzling

“No point having a cake if you can’t eat it.”

This all boils down to people’s intent, verbage and ‘you know what I meant’ vs what is actually written on the sales contract.

I’ve been bitten with this very scenario also (only once mind you – early on) and I let it go and made sure the lesson stuck. People have their little wins over you as you climb up the property investing ladder…just…[Read more]

We have a property with a “R17.5 / R30” zoning. I went to the council and asked what it was all about.

The R17.5 (lower density code) was the one assigned to the block if we decided to develop it and only wanted to jump through x number of hoops.

The R30 (higher density code) was the one assigned to the block if we decided to develop it and…[Read more]

I don’t understand why people are tying themselves in knots, being evasive and contrite in the false expectation of batting away unwanted probes.

Gathering little evasive one liners that say nothing is not something that you should develop IMNSHO…if you at all value interesting human interaction.

My sister-in-law does this to people all the…[Read more]

The people that are bitching and moaning to you about being poor and woe betide me…life’s not fair and why are all you rich buggers so lucky…they are ultimately wishing that you fail in your endeavours and fall back to ‘the pack’.

Ironically, what they fail to realise is that if you do fall back to ‘the pack’, it’s where they are anyway…but…[Read more]

Another update…

One more unit has been tenanted out for 50% more than what the previous tenant who got kicked out was paying…well, it’s hard to compare against someone who refuses to pay you rent, I guess the %age is infinity really.

Also had a chat with the neighbour who mentioned he wanted to rent out the front laydown area…more “stuff”…[Read more]

“Retirement looming in 3 years”

Geez, doesn’t sound like you’re looking forward to it that much ?? Have you left your run too late, or are the numbers just scarying you ??

It sounds as if you really need to have an extremely detailed chat with someone. I don’t think the scant details you have provided will allow people to comment too…[Read more]

Well done Solomon. Here’s hoping your belief comes to fruition, and extends out to other Perth suburbs as well.

Lets hope the resources boom continues for a long time yet. Who’s complaining about the oil price – right ??

Cheers,

Dazzling

“No point having a cake if you can’t eat it.”

My understanding is you cannot.

The tax is levied (in WA at least) against the owner of properties registered as at midnight on June 30 for the coming fin yr. PPOR’s and other minor bits and pieces excepted.

You cannot prepay before midnight on June 30, and hence bring the expense into the previous tax yr to claim it in that year…(I’m…[Read more]

Yeah plenty….but probably none that you really want to hear.

1. It’s your IP. You can palm off the day to day management to PM’s, but you can never palm off full responsibility if you want things to go smoothly. I consider PM’s to be babysitters, sort of looking after things whilst you’re not there but it ain’t there’s and at the end of the…[Read more]

LOL,

That must have been uncomfortable ??

How exactly did you wear him ?? As a wrap or overcoat or something ?? Must of got heavy lugging him aroundall the time, or was he really skinny ?? [biggrin]

Cheers,

Dazzling

“No point having a cake if you can’t eat it.”

I always consider “before tax” to be me and the Govt.
I always consider “after tax” to be just me.

Really, I’m more interested in just me.

Cheers,

Dazzling

“No point having a cake if you can’t eat it.”

OK, I’ll have a crack at this ;

On the Buying side of the equation

1. Strata units where you don’t have 100% control
2. Inheriting tenants and letting them go “as before”
3. Believing what the Pest Inspector says or writes on that farcical report
4. Letting the Builder or Civil Engineer report on the structure without you crawling around the…[Read more]

Liz,

You can put whatever you want on the offer – of course that doesn’t mean the Vendor has to accept any of it.

We got burnt 4 years ago selling one of our IP’s with this nominee rubbish. The purchaser was in fact next door, but used this phantom ‘nominee’ so as to hide their identity from us before we accepted the offer.

We knew the…[Read more]

If you are talking residential – and I think you are – then when prospective tenants even get a whiff of this proposal they’ll jump all over it.

However, unfortunately for you as a ressy LL, they shall also want absolutely rock bottom rent and you’ll have to fork out all of the outgoings and maintenance costs.

Include utilities in the rent -…[Read more]

So now that you have been made aware of this fascinating information – what do you intend on doing with it ?? And how specifically does it integrate with the tiny portions of real estate that you actually own ??

I’d really be interested in your answer as I personally don’t see any connection. How does it affect your current or next specific…[Read more]

Sitting in an airport lounge waiting for a flight back to Oz, so I’ll kill some time by detailing our first non-residential IP.

Like most people, we were having trouble finding +CF deals scurrying and fossiking (sp ??) around the residential stock. We were also pretty fed up with the constant whinging at the drop of a hat of our tenants over…[Read more]

Heya HJ72,

Well…what a ingenious little ploy. I’m sure the forum hasn’t come across this little tactic before.

What does your raw or gut instinct tell you ?? I suppose if you were happy with this little scenario you wouldn’t be asking the question in the first place.

How would you like to be on the end of that deal ?? Would you be happy or…[Read more]