Great story John,
Makes one want to look upwards involuntarily….
I am glad I have no hot water systems in the ceiling at my house.At least I don’t think there are. I had better check I suppose.
I am not so sure about this stuff about it being pretty common in qld to have HW systems overhead.
I hadn’t heard that one before and I live in sunny…[Read more]

Agreed folks agreed
I am sure some of you suffer a similar affliction to myself.
It is not Analysis Paralysis, but indeed the opposite – a burning desire to get going combined with the knowledge that I need to do the DD first.
I cannot really identify with people who suffer with AN Paralysis.
I reckon we don’t get a second chance with our lives so…[Read more]

Hi Insert,
Your willingness to suffer a little sacrifice in order to invest is a good first step I think.
Another way to free up money may be to borrow against the equity and stay where you are.
You would have thought of this though, and it seems you are keen to start anew and go hard.
I would take care, depending on where you intend to…[Read more]

Hello MYBAZAAR,
Welcome to the forum and to Australia.
I have no doubt you will do very well for yourself and your family as you seem to have the correct mindset.
I suggest the market is probably going to be fairly static in general for a few years so you can take your time.
Perhaps more savings would assist with getting your loan.
maybe one of…[Read more]

Congrats RICK,
I would love to know if you end up finding another gem like this.
Looks like you have been acheiving 137% interst on your $29k investment before tax and costs.
Hard to beat!
This is better than anything I have got.
A quick calculation shows the best positive gearing prop I have got is returning about 34% on my original…[Read more]

Hey BLOGS I agree with you.
I would add however that Wild one should still invest in RE in this climate IF- IF he has done his DD and also IF -IF it is a special property.
I reckon there are special properties out there in this climate.
All you need is the knowledge. I am looking for niche opportunities. Off the shelf investments do not…[Read more]

Ouch WASP – that stings a bit…..
I have just gotta bite!
I don’t know what your experience of holidays is but it sounds like you don’t get to have many hols.
I am now at a place where I am starting to ease up a little on myself, and even better, can afford to, after 34 years of work and saving etc since leaving school at 15 years old.
I could go…[Read more]

Hello Newb,
I am no accountant either and no financial advisor.
I think you will be able to show your contribution as a loan to the trust. This will then be offset against any capital gains when you eventually sell.
Or am I thinking about a company structure???
HELP – somebody!

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER

Thank you Mikala and Redwing. Appreciate your info.
I will see my accountant and I am sure he will tell me tha same thing..

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER

Sounds reasonable to me Celivia.
As long as it only applies to half of any EXTRA
contributions.
After all, peoples circumstances can change a lot over the course of their first 50 years or so.
We are talking about peoples own money.
You cheated a bit Celivia, you did not say what YOU thought.
I cannot let you get away with that.
What do YOU…[Read more]

I reckon Misty1 that the money we all make is NOT relative to what we started out with (nothing)
It is relative the our standard of living/net worth of the period immediately prior to making the extra $$$.
Our goals, needs, wishes, wants always seem to change as we get better off. This is a tendency that I am actively trying to resist.
My…[Read more]

Hello MRK25T,
Phew, what a moniker you have got!?!
I think you are on the right track, and just need to sit tight and hang on for the ride.A lot of sentiment will be attached to that old home. they will want to sell to a struggling young couple who will love the house as they did.
Perhaps you could arrange for your wife and yourself to pop around…[Read more]

Hi Voightster,
So you are a Hobartian are you.
I am not. I live all the way up in Qld.
However I am planning a trip to Tas in early january and wish to meet fellow investors while I am there.
I would love to meet you over a shrimp or two.
PM me if you want to see about a meeting.

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER

Thank you so much Scott – that was pretty much just what I was hoping someone would come up with.
I will now do the necessary research and go from there!
Thanks again.

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER

I agree with you Foundation.
The best way to protect yourself against a doomsday scenario like this is to owna little bit of land somewhere and some agricultural implements etc.
You may also need a big shotgun to fend off other hungry citizens.
Now I have depressed myself, I am skipping off to another forum where there is less angst and more…[Read more]

ThanksScott,

I am in Toowoomba Qld.
I was thinking that there may a register or list of property focussed accountants somewhere.
Maybe not.

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER

Hi Jimoan,
It was a book I was reading which was published in Dec 2001 – that is why I was a bit concerned about the currency of the info.
Book is called Wake Up To Wealth By Paying Yourself First – by Harold Bodinnar . Looks like it was self Published – there is a website to get updates thru http://www.webwidepress.com.au
Harold advocates investing…[Read more]

Hello nat R and all[suave3]

You are right of course, if you can service the loan all else is incidental.
I thought was relevant only IF – IF a serious scenario hit us as discussed in thread CRASHH!!!!
e.g. I would feel more comfortable sitting on 70% LVR than on 100 % if a world wide collapse occurred as discussed in CRASH!!

On 70% LVR one…[Read more]

Thanks FLASH – anyone else??????
I wanna hear from someone is 95% and v comfy with it and will tell me why??
I am here to learn.
Anybody??

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER

I believe (and I am no authority) you may only claim GST back if you actually charge GST in the rent. It is your choice.
This certainly applies with a company structure I am not 100% sure with trust.
Reckon you cant have your cake and eat it too!!
I hope this is of some small assistance.

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER