Hi Arty,

I know a an investor who has his own personal property manager. This lady used to be his PA when he was working as an accountant(!), now he’s a full time investor.

She takes care of all his rentals for him, has open for inspections for rentals(!) and takes really good care of all the maintenance thats required.

Ah, one day I might have…[Read more]

Yes, Mortgage Hunter,
I agree with you. I think having kids can actually change your attitude. Give you the inspiration to get your life on track, make you more responsible and determined to get somewhere.

Ok, when you are single, I guess you can take more risks, perhaps because you have no-one to answer to, but when you do have someone to answer…[Read more]

I agree with you, MJK
a negatively geared country prop. is not my cup of tea either.

Perhaps my reply was not clear, and it was just one aspect of property investing that I was focusing on. I realise that ist is much more complicated than this one point.

What I mean’t was, with regard to interest rates rising…
If you start of with a +cashflow…[Read more]

Just a quick point,

It’s true that if interest rates rise a positive cashflow prop. could become neg. geared, depending on how much leverage you have.

However, if you start off neg. geared and interest rates rise…how negative can you afford to go?

Just a thought,

Sue[]

Be careful not step on the flowers when you’re looking at the stars

Yes, please guys,

Someone answer this question one way or the other!

Keep smiling,

Sue []

Be careful not step on the flowers when you’re looking at the stars

Yes,vluu,

It is strange about the bank and their reluctance not allow IO loan. Can’t understand it to be honest. Bundoora has a lot going for it, prices are skyrocketing because the land is nearly all gone. I only moved here 6 months ago (Big move all the way from reservoir!) and the capital growth has been great. Didn’t realise there was a…[Read more]

Hold on a minute, I’m in Bundoora. Are you investing in Bundoora? (By the way the postcode is 3083) Or are you looking to live here?

If you have questions, I’ll be happy to answer them.

Keep smiling,
Sue

Be careful not step on the flowers when you’re looking at the stars

Hi Allan,

it’s great to see such discipline and great respect for your money.
I also know people who make way more money than us and just seem to throw it all away, they never seem to have anything spare.

Keep up the good work, I’m sure you’ve inspired a few people and may have scared some of them into a reality check.

Keep smiling,
(It’s…[Read more]

Hi Arty,

I kinda like that idea! Anyone game to set it up and give it a go?

Keep smiling,

Sue[]

Be careful not step on the flowers when you’re looking at the stars

Hi Aussierogue,

Is it just the two of you?

I’m married with 4 kids, and I don’t think we even come close to 350 per week, on groceries, petrol, etc. Maybe $300 in a bad week, and I don’t think we live frugally either.

I think there is definitely some room for you to tighten the budget a little.

Just some thoughts,

Sue []

Be careful not step…[Read more]

Hi Kate,

If you find out about the finders fee, I’d be happy to discuss the excess properties you have found.

Good luck,
and I know I’m getting cheekier by the minute,

Sue[]

diclem@alphalink.com.au

Be careful not step on the flowers when you’re looking at the stars

Hi guys,

Minimogul is right with the 50% CGT if you sell.
But if you can hold on to the property for over 12 months, you only pay CGT on half your profit. The rate of tax on half your profit depends on your personal tax rate.

If you live in the property for the 12 months (There has been some debate over the actual time needed here), while you…[Read more]

hi Fullout,

Ring the agent and find out if she can arrange for some quotes for you. They usually have a list of maintenance people who they regularly use to do work on their rentals.

If they won’t do this for you, then as Shirley suggested, look around for another agent that will.

Painting the kitchen wall doesn’t seem to be problem, if it…[Read more]

My experience is that the bank keeps the original title of your property, as long as you have a mortgage over that property they keep it. I think if you default on your loan the title gives them the right to sell your property.

Once you own your property outright, you can have the title released to you. Usually there is a fee for that, of…[Read more]

Sounds like a great deal, but like yourself a little big for me at the moment…
However, if you should come across some cheaper investments that you need to pass on, send me an email at

diclem@alphalink.com.au

Cheeky of me, I know[]

Keep smiling,

Sue []

Be careful not step on the flowers when you’re looking at the stars

Thanks for your replies guys,

The Mortgage Industry Ombudsman has already looked at the situation (Well the girl in the office anyway) and she seemed to think there was no case.

I could try a gun-ho lawyer, but I think there was some document from the Ombudsman that said I couldn’t take the case any further after dealing with them? Could be…[Read more]

Hi,

You say you have a LOC to the value $176, can’t you use this for cash flow? Or are you full drawn on that?
Be careful with your parents house, I’ve seen similar schemes go haywire. If you have to use your parents place as equity, don’t go the whole hog, take it slow.

Just some thoughts,

Sue []

Be careful not step on the flowers when…[Read more]

Hi,
I don’t actually have any experience in this, but looking at the situation from an investors viewpoint, I would say it shouldn’t be a problem.

What better tennant could you have than the people who built the house. Obviously they would look after it. Sounds ideal.

Just a thought,
Sue []

Be careful not step on the flowers when you’re…[Read more]

Thanks for that Jim, I really appreciate it.
I didn’t even know that land tax existed in victoria! And I’ve had an investment property before, I guess it made it under the threshold.

Thanks again,
I’m learning so much in this forum,

Sue []

Thanks loress for that interesting snippet.
May be a bit of a reality check for some.

Always remember to do your homework and check your figures,
Cheers,
Sue[]