Forum Replies Created
I didn't realise being a renter and investing in property would be the right way to go.
I can totally do that as renting has been what I have been doing for years and years and years….so….. in a way, I'm used to being a renter.
Quote:If you can get your head around living in a rental (and a budget one at that) for a few years instead of a PPoR, you can accelerate your wealth amazingly. Most people don't want to make this sacrifice.I don't even have to live in a budget one.. or well not to me.. I could easily live in a shared house situation as that is what I'm doing currently… and it is working for me. So I'm guessing even if I can find a decent "home" be it for myself and/or to share with another person/people so then I am paying less than $200 per week in rent (easily) then I would be in a good position to start saving that 20% (actually I would rather try to save 25% due to those 'hidden' costs).
Quote:In a few years you will be able to fund a PPoR quite easily if you want, but keep in mind if you borrow equity from an I.P to buy a PPoR, the interest on that part of your loan is not tax deductible.No problems. I would hope I'm in a position with the other IPs that having just the one IP not be deductible in a way wouldn't really affect me too much if you get my drift?
Thanks again for the responses. I guess I shall continue to rent whilst "hunting" for IPs.
I'm looking in Darwin (for IPs) as I have gotten to know the area over visiting for work purposes over the course of a year or so therefore I know which suburbs are 'yes', 'has potential', 'hell no' etc.
Thanks again. Now I can formulate a "plan of attack" as such.
As someone who now rents privately direct with the Landlady all I can say…. WHY DIDN’T I DO THIS SOONER??
As a tenant, I’m finding this sooooooo much better and easier. Then again I’ve been a long term tenant .. been here since 2000. Plus herself and her father are finding it easier since they can use someone they know and trust for any repairs etc not someone the Real Estate Agent uses (and get screwed on the bill).
All I can say is.. be friendly yet still “in charge” with the tenants because if you treat me right… I will treat you and your property right… and you may end up with very long term tenants like me.
Wishing everyone prosperity!| http://www.goldcoastgirl.biz | http://www.VanessaStacy.com | http://www.goldcoastgirl.info
Just wondering if anyone would care to offer me some assistance in helping me draft a letter for me to fax to the Real Estate Agent (L J Hooker Southport) in re: me not being able to continue paying rent on the Monaco St unit.
I will be faxing the letter Thursday (tomorrow).
Some of the things I want to highlight is that I tried for a fortnight to find someone for the place before I officially signed the paperwork to break the lease. I paid for a domain.com.au 14 Day advertisement in that time out of my own money. I have continued to pay rent on a unit I never really moved within and thus it has been left in the condition the previous tenants left it in thus I havn’t done any damage to the unit. Even in the time since I have handed over the keys (the last two weeks) I have continued to pay rent and advertise the place (on the internet, at my place to work, and word of mouth) and send people to the real estate agent (L J Hooker Southport) about the unit.
I also want to highlight that I am still paying rent at the place I was supposed to move out yet never did. I want to highlight that I have been paying in total for the last four weeks $465 a week in rent due to paying rent on the Monaco St unit ($240) and the place I am at now ($225)…. I cannot do this anymore.
I want to highlight that I have been sent into major debt due to having to use my VERY NEWLY ACQUIRED (in Feb) credit card to cover expenses I could’ve covered if I wasn’t paying rent on the Monaco St unit still …. weeks later!!! I literally cannot afford to keep paying rent on the Monaco Street unit.
I want to highlight that paying rent on a unit (Watson Esplanade) I am actually living within and have continued to live with is much more important and a higher priority than a unit I never moved into in the first place (I never spent a full 24 hours in the Monaco St unit).
I want to make L J Hooker Southport (the real estate “in charge” of the Monaco St unit) aware that the only reason I signed the lease to the Monaco St unit was due to L J Hooker Surfers Paradise giving me and my flatmate a “Notice To Leave” otherwise I would never have started looking and thus never had signed the lease in the first place of the Monaco St unit as I originally intended to re-new the lease of my current unit. So in the end the fault lies with L J Hooker Surfers Paradise NOT WITH ME.
I want them to send me back via fax or post my rental ledger (all rent I have paid up until this date) as well as how much BOND I paid and thus will be forfeiting in full due to not able to keep paying rent on the Monaco Street unit as I need these records to persue a case against L J Hooker Surfers Paradise to re-claim all monies I have lost due to their stuff up.
I also want L J Hooker Southport to know that I am going to persue L J Hooker Surfers Paradise about the money I have lost. Make it clear that none of this is my fault and thus they should not mark against me in any way as I will endeavour to have that over-turned as well since I backed out of the other lease agreement because I never wanted to move in the first place (L J Hooker Surfers Paradise accepting my lease re-newal over a week later after informing myself and my flatmate in no uncertain terms we had to leave!!).
Wishing everyone prosperity!| http://www.goldcoastgirl.biz | http://www.goldcoastgirl.info |
Thank you!
What sort of improvements should I aim for first in my first PPOR unit so as I can then rent it out at a decent price (and thus attract a quality tenant)?
I’m naturally assuming I should aim to buy an older one bedroom unit as they generally need the most improvements or should I just go with something a little more new-er ??
The Central Gold Coast area alone has a nice mix of new and old units (tho’ I won’t restrict myself to just central GC naturally).
Wishing everyone prosperity!| http://www.goldcoastgirl.biz | http://www.goldcoastgirl.info |
Well, I officially signed to break the lease on Monday 26th Feb. I was trying to find a tenant myself for my first initial week I was meant to be in the other unit (from 19th Feb). Since I couldn’t find anyone (had a few inspections at least) I handed over the keys on Monday 26th so the Real Estate Agent not just me can find someone for that unit.
I’ve placed an advertisement on domain.com.au for it as well as quite a few other internet based (and free as domain.com.au cost me over $100 to advertise within) classified sites.
Here’s hoping the other place is tenant-ed before the end of this week or at least before the end of the next week as I’m paying rent on the place over there ($240 per week) as well as here ($225 per week)…. and really can’t afford to keep on paying such rent (“double rent” as I call it) for too much longer.
I will give the other real estate agent (managing the unit I was supposed to move within) a call on Monday to find out if they have found anyone for the other place yet and give them an update that I too havn’t found anyone as well (even tho’ I’m trying).
The sooner all this is over and I can get my money back (so far $100+ for the domain.com.au ad, rent paid on the other place and any bond money I will loose due to the agent having to re-advertise the place etc) the bloody better!
Wishing everyone prosperity!| http://www.goldcoastgirl.biz | http://www.goldcoastgirl.info |
An update………..
I’m breaking the lease of the other place. I’m staying put as I would rather stay somewhere I already have a good relationship with the landlord (or in my case the landlady) than start all over again. Plus the landlady (and her father who acts in her place when she is too busy and/or not in the country) both wanted me to stay (they pleaded with me to stay).
Now I’m renting private-ly and directly with them. Anything I can do as a tenant to make it easier for her as this whole private renting thing and dealing with me the tenant direct is new to her. I don’t want to “take her for a ride” and show her that I do value our relationship to the point where I will help her out with the private rental market (not using a real estate property manager).
She dumped the real estate agent as they were the ones evicting me originally without her consent and she never had a problem with us and didn’t want to be rid of us. The reason the rental agent gave her was bs in her opinion.
Anyway, if I loose any money out of my bond from the other place I signed up for… I have legal grounds (and my landlady will back me up) on demanding the real estate agent that stuffed up to re-imburse me for the loss.
So now I’m looking for a tenant for the other unit. Loosing money from my bond (which I will get back so it is okay) from that other unit. Paying rent here until I can re-sign the lease she has given me (naturally I can’t sign my landlady’s tenant agreement until I am out of my other one).
[happy3]
Everyone’s happy as she gets to keep me as a tenant. I can now deal with her direct which means repairs and the niggly little things wrong with this place can now be started to be fixed. Plus with her behind me I have a good case in getting re-imburse the money I will loose out of the bond I paid on the other place.
Plus it got me organised. Put stuff in storage and doing a huge spring clean. Having a garage sale Sunday. Will dump everything in the skip I’m hiring if I can’t sell it (or give it away). Carpets are being cleaned. Pest control coming in and doing the place. etc.
Wishing everyone prosperity!| http://www.goldcoastgirl.biz | http://www.goldcoastgirl.info |
Oh btw, I was given my lease to re-new BEFORE I was given any Notice To Leave. Now they say the Notice To Leave doesn’t apply and I can stay ???????
Wishing everyone prosperity!| http://www.goldcoastgirl.biz | http://www.goldcoastgirl.info |
^^ That might be an idea because the land I would buy would most likely be in parts of the country I personally would never live… and if I generated any sort of income from it that would be great.
I could easily lease the land out to some people who wanted “home gardens” yet didn’t have enough land to do so..?? Hmm.. it’s a thought.
So in the end it is the USE of the land that determines its value ??
Wishing everyone prosperity!| http://www.goldcoastgirl.biz | http://www.goldcoastgirl.info |
Originally posted by Badgers_R_Us:My car is a customised Pontiac Trans Am called KITT. My name is David Hassle-a-lot. A lone crusader in the dangerous world of property gurus. I am McKnight Rider.
That reminds me… My flatmate would love to have KARR not KITT. I can see why… as it would go up in value not down if it was fully pimped out like KARR (inside and out) as much as possible. It will actually be worth something…..
My plan of attack is to replace my car every 3-5 years. I’m only ever going to buy second-hand/used. I’m not being stingy or cheap… just that I prefer to spend the excess cash I will eventually have (I havn’t started investing in IPs yet) in other ways.
Wishing everyone prosperity!| http://www.goldcoastgirl.biz | http://www.goldcoastgirl.info |
Originally posted by PurpleKiss:I have an 88 Toyota Corolla that runs just fine, even the mechanic says to keep it. The only catch is it’s not no air con.
As I already stated, I too have a 1988 Toyota Corolla. It also doesn’t have A/C nor a left side mirror. It has a radio.. no CD player. Since this is my work car, I’m thinking of “investing” in it as such since I plan to have it for a few more years yet…. give it A/C, a CD player, left side mirror and some tinting.
I paid $1400 for her at the time as the chick who was selling her via ebay (yes ebay) was a motivated seller… gotta love those motivated sellers [biggrin]
Wishing everyone prosperity!| http://www.goldcoastgirl.biz | http://www.goldcoastgirl.info |
Are all these other internet based (online) saving accounts (similiar to ING) as easy to use and as secure as ING? I like how ING has a keypad that changes each time you want to login as well as will log you out after 5 minutes of inactivity… plus I don’t mind the time delay that ING has as it makes sure I really do want to use my savings.
Compared to ING are the others as easy to use? Plus do they allow you do download the statements into MYOB ?
Wishing everyone prosperity!
Vanessa
http://www.goldcoastgirl.biz
http://www.goldcoastgirl.infoI did have up until two nights ago a 2002 Bug Bandit moped motorcycle (it got stolen sadly) …. so the only vehicle I have now is my “Bunny” …. 1988 Toyota Corolla CS
Granted, one day I will purchase a VW Beetle then either turn it into a “Herbie” (custom paint job) or just totally “pimp it out”.. that would be kewl. Only if I had the money to waste tho’ …. otherwise, I will stick to hardly cars like my Toyota Corolla. [biggrin]
Wishing everyone prosperity!
Vanessa
http://www.goldcoastgirl.biz
http://www.goldcoastgirl.infoI’m no expert on Mt Isa however it seems whilst it is a good place to invest that alot of the really good investments up there are now gone. I said seems… there may still be some good CF+ properties available up there.
I would suggest visiting the place yourself as you will be able to ‘see’ that whilst it is a huge mining town.. it does have its problems.
Alot of the miners are flown in/out from Townsville as not everyone wants to live in Mt Isa (and since I have visited there once I can understand why… not much to do up there..not much at all).
Wishing everyone radiant health!
Vanessa
4 out of 5 Taste Buds Surveyed Preferred > http://url123.com/wa2ev
For Australians Only > http://got.to/liveafunlifeI am also interested in what the deal with it is…. ??
APerry –
The only people who would find this product attractive should not be borrowing money.Why do you think this ???
Wishing everyone radiant health!
Vanessa
4 out of 5 Taste Buds Surveyed Preferred > http://url123.com/wa2ev
For Australians Only > http://got.to/liveafunlifeIn Tribute –> http://www.remembercorey.com/
Wishing everyone radiant health!
Vanessa
4 out of 5 Taste Buds Surveyed Preferred > http://url123.com/wa2ev
For Australians Only > http://got.to/liveafunlifeOriginally posted by The Mortgage Adviser:Hi Vanessa,
It is not illegal at all if you structure the ownership properly. If you buy a home in a company or trust name, you do not own it. You can live in it and rent it from the company or trust. The company or trust then repays the mortgage. The lot is deductible but you will have to pay CGT if you ever sell that home.
Hmm…. I just have a problem with it ‘coz even if the company on behalf of the trust owns the property… isn’t there some sort of “conflict of interest” or anything due to you being part of the company and/or trust ?
Wishing everyone radiant health!
Vanessa
4 out of 5 Taste Buds Surveyed Preferred > http://url123.com/wa2ev
For Australians Only > http://got.to/liveafunlifeI didn’t know him personally however I definately knew OF him esp. when I was involved with Ed Burton…. and just because I’ve always had an eye on internet marketing (information).
He’s immortal now due to the wealth of information that he has endowned upon the world. It is a shame he has left this life… he was someone making a difference.
Oh well. With life there is death. It’s unavoidable.
May your journey to the Summerlands be well Corey!
Wishing everyone radiant health!
Vanessa
4 out of 5 Taste Buds Surveyed Preferred > http://url123.com/wa2ev
For Australians Only > http://got.to/liveafunlifeRegardless of what amount you can put down, I personally will stick to my own rule that I will put down $1000…. as it is a sign of “good faith”.. that you are serious.
If someone put down $1, I would have to ask if they were serious. If they were, I would be perplexed to know why they wouldn’t put down a ‘bigger’ amount to show their intentions and seriousness in re: the purchase.
Wishing everyone radiant health!
Vanessa
4 out of 5 Taste Buds Surveyed Preferred > http://url123.com/wa2ev
For Australians Only > http://got.to/liveafunlife
Wishing everyone prosperity!
