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Viewing 11 posts - 1 through 11 (of 11 total)
  • Profile photo of EmsEms
    Participant
    @ems
    Join Date: 2007
    Post Count: 23
    January 19, 2012 - 1:44 am

    Thanks all for a great read!

    We purchased a house in South Gladstone last March and looking to put 4 3 bed townhouses on the block. Given the construction is likely to ramp up this year what kind of rents do you think I could achieve either furnished or unfurnished if they were finished the end of this year. Still undecided on whether to sell them all or keep some for the high yield.

    Cheers
    Ems

    Profile photo of EmsEms
    Participant
    @ems
    Join Date: 2007
    Post Count: 23
    January 13, 2012 - 3:54 am
    Qlds007 wrote:
    Heh Ems

    Would do but the trouble is your Broker might not be able to finance them for you lol.

    Cheers

    Yours in Finance 

    Impossible, my broker can finance anything!!  

    Profile photo of EmsEms
    Participant
    @ems
    Join Date: 2007
    Post Count: 23
    January 11, 2012 - 3:52 am
    Qlds007 wrote:
    Agree with Jamie you would have ever Buyers Agent or unlicensed investor posting all sorts of things here and as advertising is not permitted not convinced you would attract what you are really looking for.

    Many of us come across deals almost every week that for some reason we dont want to do (had one across my desk only today) but wouldnt post it as what seems like a good deal to me might not be for someone else and vice versa. I have a minimum amount i need on each deal to make it worth something i consider wheareas someone else may have differing investing parametres.

    Cheers

    Yours in Finance

    Cheers

    Yours in Finance

    You can always pass them on to me Richard

    Ems

    Profile photo of EmsEms
    Participant
    @ems
    Join Date: 2007
    Post Count: 23
    November 10, 2008 - 10:42 am

    Hi All,

    My husband has been looking for employment in the mines for a while but no luck yet. He is a qualified Welder with years of experience.

    We are based on the East Coast (Brisbane) but he is willing to travel anywhere in Oz or even overseas.

    Can anyone give me some contact details agencies/contractors that may be able to help find him some work?

    Regards,

    Profile photo of EmsEms
    Participant
    @ems
    Join Date: 2007
    Post Count: 23
    June 16, 2007 - 11:00 am

    Being a massive football (sorry Soccer fan) I would travel the UK and Europe following my beloved Manchester United! Now that would be great. :-)

    Profile photo of EmsEms
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    @ems
    Join Date: 2007
    Post Count: 23
    March 30, 2007 - 6:20 am

    Hey guys,

    Have been reading this thread for a while and thought I would put my 2 bob in.

    I do totally agree that getting into debt is just too easy nowadays. A friend of mine is on $45K a year, rents in Brisbane CBD and pays $320 a week rent for a tiny unit and now he is going into debt to buy a car. He says he is going to start saving to get into PI but every week he has new gadgets and goes out every weekend drinking. He is my age (25) and we have completely different views on money.

    He had an easy upbringing in the UK, parents were quite wealthy so gave him everything he desired. I left school at 16, wanted to go to Uni but had to leave to get a job as we were a single family and I needed to help mum with the bills. My twin sister and I paid everything during our teens, never went out drinking with our friends and basically went from pay cheque to pay cheque. Mum couldn't work as she was ill so it was pay back time for all the years she struggled looking after us through school. She is now 63 and has gone back to work. I love her dearly but am trying my hardest not to end up like her – working at 63. She has no assets, apart from 5 gorgeous kids and is still struggling to make ends meet.

    I came over to Australia last year from the UK with my Aussie husband. We have brought some land on the Gold Coast and are currently building a house. Every dollar we earn is either going into our loan or into our bank account. Sure we have some luxuries now and again and even go for a curry on a special occasion but are adamant to not end up broke at 60.

    Kids coming out of school have no idea of the differences between an asset and a liability and no idea of the value of money. This will be different when we have kids. We will be teaching them financial literacy and how important is it to not squander your hard earned cash.

    I have been reading this forum for around 5 months now and can't say how much it has helped us in realising our goals and pushing us to achieve financial freedom. Thank you to everyone who has replied to my threads and contributed to this forum :-)

    Ems

    Profile photo of EmsEms
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    @ems
    Join Date: 2007
    Post Count: 23
    March 5, 2007 - 12:49 pm

    Thanks for your advice Raddles! I’ll pass the information on to my friend!

    Ems

    Profile photo of EmsEms
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    @ems
    Join Date: 2007
    Post Count: 23
    January 11, 2007 - 2:53 am

    Hi Guys,

    I’m in the same position. We need to render our house in a few months. Ours is a two storey 32sq house. I have also been given different prices and we need to decide if its best to get someone professional to do it or try it ourselves. We don’t want to stuff the exterior up so am leaning towards going the professional way.

    Cheers guys,
    Ems [biggrin]

    Profile photo of EmsEms
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    @ems
    Join Date: 2007
    Post Count: 23
    January 7, 2007 - 10:37 am

    Hi Peachy,

    I agree totally and don’t know fully why it would be best to get an IO & Offset. They do seem like the same thing – $100 interest and $100 off the principal (P&I repayment) as opposed to $100 interest and $100 into the offset account (I only repayment) it would still calculate the same interest charges for that day/period in either situation…is that how it works??

    HookhamC – You say holding the property costs less. When you pay back the principle on an investment property only the interest payments are tax deductible. So if we had an IO & Offset then can all payments be tax deductible?

    With the P&I am I correct in saying only the Interest is tax deductible but with the IO & Offset both are tax deductible? If so this is the only advantage I can see. If anyone can help us out that would be great.

    Cheers guys,
    Ems

    [biggrin]

    Profile photo of EmsEms
    Participant
    @ems
    Join Date: 2007
    Post Count: 23
    January 6, 2007 - 1:30 am

    So most of you are saying IO & Offset.

    We are in the same boat but was told to take out an P&I too by our broker. We intend to live in it and then rent it out in a years time when we go back to the UK.

    Would a IO & Offset be better for us do you guys think and what are the advantages of having an IO & Offset compared to the P&I? Is there a tax benefit or something?

    Cheers guys,
    Ems[biggrin]

    Profile photo of EmsEms
    Participant
    @ems
    Join Date: 2007
    Post Count: 23
    January 2, 2007 - 6:20 am

    Thanks for your replies Elka and Marc.

    Marc – please don’t say anything about the cricket – I have enough taunts each day when I go home to my hubby [biggrin]

    Yes we will be living in the property until we go back to the UK. It’s going to take around 6 months to build and then we plan to live in it for 6 months in order to get the FHOG and then were off. It is a big house and there are 4 bedrooms with only two of us so we are thinking of letting 1 or 2 rooms out just to help us pay the mortgage and save a bit more. Not sure how we will cope as we are used to sharing just one room back in London so it will be different. If we do rent the rooms out can we claim anything like carpet, paint through tax deductions or as it will be our PPOR will that not be allowed?

    Elka – so if we rent the house out for 6 years and then decide to sell we won’t have to pay any GST? We plan to go back to the UK for about 5 years and then come back here to OZ. My husband already has a job waiting for him back there which is good to know.

    Marc – I don’t think we will be getting the rent money sent back to the UK, I think the rent will go into the same account as the mortgage will come out. The only money that will be transferred will be UK pounds which we will send over to pay more off the mortgage and to cover the mortgage when we have breaks in rental and all other fees.

    We saw an investment guy from Bendigo bank a few months back to ask what our options will be when we go back to the Uk and was told if the property has equity in it then instead of selling why not take some equity and buy another place instead of selling and paying alot of tax. He also mentioned the GST problem with selling.

    Cheers
    Ems

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