Forum Replies Created
Thanks for the replies, it is much appreciated.
I will go ot the council and see what it requires.Keep smiling,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
Hi Arty,
Thought I’d reply even though I don’t really know what I am talking about. It’s just that no-one else did!Anyway, it all comes back to your figures.
How far away from the 11 sec rule are you? Is it comfortable for you to make the repayment difference, if any?Altona and Sunshine should have pretty strong capital growth as they are not too far from the CBD, with the freeway and all.
Don’t forget about depreciation either, on houses built after 1985.Just some points, hope it helps, I was bored,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
oops, I got the wrong battle. It’s was Pin and the Enjo lady, not Bribie!
Sorry about the insinuation there,
Keep smiling anyway,
Sue []Be careful not step on the flowers when you’re looking at the stars
Hello peoples, I’m here too,
Been reading away my afternoon.
So, there’s a bit of battle on between you and the Enjo lady, getting a little warm in here!
BTW I don’t think you were insulting, just let it blow over, but you do need to watch out for Arty!
He’s always watching….Keep smiling,
Sue [
][]Be careful not step on the flowers when you’re looking at the stars
Hi Brent,
I don’t know if it is true, however I don’t think that a 49% ownership can give you the power to make that large a decision on your own (Without a vote)
I always though you had to own 51% to have total say on decisions.
Does anyone know for sure?
Keep smiling
Sue []Be careful not step on the flowers when you’re looking at the stars
Hi guys, great post!
Quote;
“So how do you do it? Here are some “positive geared” ideas:– Rent to students. Buy a house next to tafe, uni etc… with five bedrooms and rent each room out. This will be positive geared but can be seasonal…”
Pin, have you actually done this? I have contemplated doing this myself as I live between two universities.
Basically I’d like to know if you have manage it yourself or if you can have a property manager do it for. And if you have done it, or know someone who has, what was the experience like?
i.e. Good or bad?Cheers,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
Hi Casey,
It all comes back to the numbers. If the house is at a price that allows you to do the necessary renovations and still come out on top, then it’s worth it.
Just don’t forget that renovating a house is not as simple as it looks on TV. Budgets can often blow out, so be generous with your estimations of what the reno is going to cost.Hope this helps a little,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
As Del said chances are we will all come across a tenant from hell in our investment lives.
If you prepare for the worst, you cannot be suprised.
Build your wall around your city of Babylon, to ensure your gold is protected.
Today we call it “due diligence” and insurance!Keep smiling,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
Hi Salaberge,
For peace of mind I would look at the property myself, especially being your first one.
Secondly, never be afraid to delay settlement un til you are happy, once it is settled you may have no recourse.
Check with your solicitor to see how much a days penalty is for delaying the settlement. I think you will find that it probably isn’t as much as you might think.This is the what I would do anyway, i had a personal experience where I settled on a property because I was afraid to delay settlement. It ended up costing me a few thousand dollars, whereas the penalty for delaying was only $200 a day.
Hope this helps and congratulations,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
Hi Fudge,
Too hard to give a ball park figure without more detail. I suggest you go to realestate.com, go to rentals, and see if you can find a similar house to what you are looking at, for rent, in the area that you are looking at.
Hope it helps,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
Banks might seem like the big baddies to the first timer or small investor. But once you show you are serious and begin to build your assets, you will be amazed what deals they will offer you. They will actually chase you for business, offer you better deals, even take you out to lunch!
No, I’m not a big time investor. I used to work in a bank. Yes that bank.Just my thought on what might be part of the reason,
Keep smiling,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
Hi David,
I don’t mean to be critical, but why are you referring clients to a mortgage broker when you don’t seem to be comfortable with using her yourself? Is it a commission thing?
Just strikes me as a little odd,
Keep smiling,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
Thanks for that Del,
In investment advertising they often say something like “10.5% return on your investment”,
Have they used the same method you outlined, or different?Keep smiling,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
I am also considering investing in shares, but is it at complicated as it looks?
I mean it seems you need to learn a whole new language before you can even begin to understand how it all works.
I know some will say property is also complicated, but I think we feel more comfortable with this as we can see it and most of us have had some experience with our PPOR.So I guess the question is – Is investing in shares as complex as it seems?
Keep smiling,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
Good on you Bill for going against the trend.
To back up your argument with facts and figures is great. Having read your earlier posts, I know you have a wealth of experience and we should take your comments seriously.Most investment?wealth creation books I have read, recommend that you should not follow the crowd – Be first, not last
Keep smiling,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
Hi guys,
I just thought I’d bump this post to the top of the queue so that Arty will find it! [
]Keep smiling,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
Hi Bill,
Great response. In this forum there seems to be an attitude of buying if you can find a good deal. Your argument for holding out and strengthening your finances, appears to have strong merit. I was considering this myself, however I seemed to be in the minority. Thanks for the balanced advice.
Keep smiling,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
Hi Earnest,
When we first became self-employed, the biggest worry for us was being left with a huge tax bill at the end of the year.
So what I did was place 20% of our Gross income into an ING Direct account. Now, we have done our tax for the this year and we find we have a good deposit left over for an IP! And the interest was a nice little bonus too!
So, if you are earning income that you are not paying immedite tax on, put some aside because you’ll need it, and it won’t hurt to over estimate.Keep smiling,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
Thanks Bill, Simon and Picja,
You guys are a wealth of knowledge and we appreciate your input,
Cheers,
Keep smiling,Sue [
]Be careful not step on the flowers when you’re looking at the stars
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