Hi Bill and Mini
I would like to add to mini,s we also get the recent sales for areas we are looking at. In fact some agency will send them to you monthly. I have a map of the area I am looking at up on a wall and I put the recent sales figures on the map so when a property comes up I can just look at the map and see what has sold around it and…[Read more]

Hi Dovie
I am also on the side of caution when buying at the moment but the thing you need to look at first is why do you have no cash savings you have had a year since you bought your property to save up. If you are spending all your available income you may need to look at your budget. Even with a cashflow positve property I would still want…[Read more]

Hi All
Freedom to do what I want when I want.
Never have to go back to work.
Erika

Hi All
Quick question for 007, when buying a property to do a wrap does it concern you if projected population growth is -ve or is this not of such a concern because you are on selling the property.
Erika

Hi Kay Henry
We have had tenants in properties before settlement a couple of times. The rental agreement is always with us from the beginning we paid the letting fee and after settlement we paid the old owners the rent collected during that time. We never had a problem the old owners didnt live there and so were quite happy to have some money…[Read more]

Hi NKZadar
With a couple of properties we have bought we spoke to the people selling them and askd if we could rent them out straight away no problems any rent collected before settlement went to the old owners places rented from day one for us.
Erika

Hi Mel
I think you should be a moderator you impart a lot of knowlwdge and you remember quite accurately what people have written.
Keep up the good work.
Erika

Hi Rodster
I noticed the other day when looking thru the resourse section on this site that steve has a book called Wealth Guardian that is also written by Paul Harper. He is an accountant with Jeena Partners in Sydney who knows alot about structures. Might be a good place to start.
Erika

Hi Leigh
I am not completely sure but I beleive in NSW that if you have land value over a large amount say 1M that you have to pay land tax on your PPOR.You see these people sometimes on TV who have lived in their houses for 50yrs and it used to be in the back of nowhere and now it is the latest hot spot and they have to sell because they cant…[Read more]

Hi All
Great question Robo, is this place worth buying for $5/week. Dont forget if the place is vacant, and to Kay Henry “Who cares if you get 10% yield if it’s a good property and you have good tenants?”
What is a good property surely it is one that is either going to give you cash in hand or hopefully CG. Robo has said it is unlikely to give CG…[Read more]

Hi Still in school
I am with Mel your post is a bit confusing. Why did you have to get the loans in your name with her as guarantor she would still need to sign something why couldnt she sign the original loan doc’s.
Why cant you sell the other properties just because they are x coll, doesnt mean you cant sell them it might just mean the bank…[Read more]

Hi All
In fact some properties are already cashflow -ve if you use the 11 sec rule.The first house Steve bought and uses as an example in his book would be cashflow neg if you use the 11 sec rule.So people need to be factoring in higher interest rates now to make sure their properties stay +ve.
Erika

Hi Kay Henry
What do you mean by a happening area. I ahve family and friends who live there,They have had good capital growth recently, its a nice area that now belongs to Brisbane not Ipswich lots of families.

Hi All
Mel i was just making the point that because it is a unit doesnt mean it cant have considerable land value. When we bought 3 yrs ago they were cheap and thanks to considerable CG one of the units is the most expensive property we have. We bought because of the location and the fact that they were very good value at the time.MAny people…[Read more]

Hi Shirley
The office of State revenue send you the land tax bill it is assessed on the land value you hold at the 30th june each year. The dept of natural resources and mines values your land and sends this to you, it is the average over the last three years valuations that they tax you on. Our land under our units is worth more because it is in…[Read more]

Hi All
We have 6 properties in Qld 2 houses, 2 units and 2 t/houses and we just paid $3300. For Mel’s interest the land value on our units is the highest, not our houses. You get $220,000 threshold in land value before they start taxing you. I am unsure how this is against other states but it now must come into our holding cost equation when we…[Read more]

Hi Steve
No I am not a property manager I am a property investor, share trader and fulltime mum. My point was that I just consider my PM’s to be apart of my team. I think if you own 1 property in your neighbourhood you could probably mange it yourself but if you want to own multiple properies as we do and plan to keep buying I wouldnt want to…[Read more]

Hi All
I have been reading this thread with interest. It is amazing that the only thing that PM do is collect the rent. You should be so lucky if that is all they do. That means that they have chosen good long term tenants that fix everything themselves.
I think of our property managers as part of our property investing business what they bring is…[Read more]

Hi All
Just thought I would add a bit more
I personally dont think you get all the answers from a book, seminar or other people they just give you Ideas and it is up to you whether you do anything with them, But Steves says quote” It,s my sincerest wish that this book will help you to acheive your life goals. In order for this to happen you must…[Read more]

Hi Still in school
I hope you dont do all your calculations like this as I fear you will end up with alot of -ve geared properties.Your above example which gives you 16 weeks “profit” if you add in the $1200/y in rates that leaves 6w”profit, now lets take out management fees 8% leaves 2w “profit if you rent it once per year that takes another…[Read more]