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  • Profile photo of dj_siekdj_siek
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    April 11, 2007 - 6:13 am

    hey. the loan is in the application process currently. i do have their contact details… hwoever i was on hold for 15 minutes :( hehe. so gave up.

    thanks so much for your responses ! :)

    Joel

    Profile photo of dj_siekdj_siek
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    April 4, 2007 - 6:33 am

    hey ,

    my gf has nothign to do with it at the moment really. if we're still together later on then we'll do something for sure. (im hoping we will be of course!)

    i understand blogs point however.

    cheers

    Joel

    Profile photo of dj_siekdj_siek
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    April 4, 2007 - 3:24 am

    nah the loan wil be 250k. repayments at around 1450 a month.

    I have also taking into account utilities etc

    what do u think?

    Profile photo of dj_siekdj_siek
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    April 4, 2007 - 1:59 am
    blogs wrote:
    Dont mean to offend but you sound like you are living in dream land-you havent been able to save up enough money for a depost so you are going to have to borrow from your parents, you arnt earning enough to pay for the mortgage so have to rent out the spare room yet you think in a couple of years you are going to have so much money that not only will you be able to afford this appartment but somehow you will have saved up enough money for ANOTHER deposit on a house, pay its mortgage AND still keep the apartment?? Ahh to be young and niave again….

    hey blogs – none taken. i am getting a 100% loan. and its all approved with essential advice from my financial advisor!
     
    If you reread what i have written above…I never said i could not afford the repayments on my own. i said i would just survive – which is fine as im keen to get started. i am on a really good wage upon finishing university (at least 10k above all my mates who got first jobs)I am also running on the assumption that in 3 + years i get at least some equity in the first apartment and that i get a pay rise at the end of this year which is gaurenteed (the pay rise). unless i totally stuff up at work of course…which wont happen.

    whilst im young yes, i am not niave.

    Profile photo of dj_siekdj_siek
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    April 4, 2007 - 12:41 am

    ahh looked it up on realestate so simple!

    I just feel i should offer them soemthing i mean they are retiring in about 3 years and need everything they can get. otherwise the money they give me woudl be earning interest elsewhere… partners or lenders… id say minor partners? hmm.

    i could survive doing it on my own but id only JUST survive…. then when my gf finished uni ill buy a hosue with her and keep the apartment. im stoked i just got the buyer beware pack giong to give it a read 2night and check out this apartment on saturday. ill be annoyed if there are lots of buyers!

    thanks for your reply c2

    Profile photo of dj_siekdj_siek
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    March 17, 2007 - 4:31 am

    HI there, thanks for your advice both of you. I think ill take it on and keep looking. however im still curious to have a look at the melb cent apartment. i have found heaps out there witha car space. actually just went to an auction in hawthorn to check it out (never been to one) was very interesting.

    Thanks again

    Joel

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    March 13, 2007 - 1:03 am

    Hi Terry,

    Thanks for that advice.

    So i guess my decision ive got to make it if i should either
    A. move in for 6 months get bills sent there and move out then rent it. or
    B. move in permanatly and rent out a room and just pay the capital gains tax if its applicable at 50%.

    Thanks again for your help Terry.

    Profile photo of dj_siekdj_siek
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    March 12, 2007 - 10:20 am

    thanks for that – but what about capital gains tax? is it the same rules?

    thanks

    Profile photo of dj_siekdj_siek
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    March 12, 2007 - 9:47 am

    oh ok interesting. so u rented it for like 11 months for instnace and moved in before 12.

    thanks!

    Profile photo of dj_siekdj_siek
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    March 12, 2007 - 8:41 am

    thanks Marc,

    Would i be exempt from CGT if i moved in and rented a room out if it was a 2 bedroom? That way i am closer to the city and get rent… its win win!

    you said:
    “It may be better to move in for 6 months (or is it a year?) to satisfy the FHOG regulations, then move out and use it as a rental, thus making the property CGT exempt for up to 6 years of renting.”

    can any body confirm if its 6 months or 12 months to satisfy the FHOG (what does that stand for).

    Profile photo of dj_siekdj_siek
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    October 6, 2006 - 7:47 am

    yeh ill def consult an advisor… but nearly 1/4 through that book by steve mcknight. such a good read.

    I will weigh up weather or not its worth losing the grant. Depends hwo much it costs to live at home less over that period. Im pretty good with excel so i should b ok with the figures hopefully.

    Cheers

    Joel

    Profile photo of dj_siekdj_siek
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    October 5, 2006 - 10:27 am

    hey duckster,

    thanks heaps for your reply. I do plan on doing heavy research indeed. some good advise none the less.

    cheers

    Joel :)

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