Forum Replies Created
Hi Duncan,
I’m from Bromley, SE London and now live in Perth. Don’t know anything about laws etc, but have a friend in England who buys houses and rents them back to the council for garuanteed ongoing income, could be an easy way to manage properties from here.
Katie
Hi,
We ae doing a similar thing, bought our first property and moved into it, got FHOG and paid no stamp duty, are renovating like mad and will rent it out asap and either rent ourselves or move into the next one.
By doing this it only cost $5,400 of our own money to buy a $206,000 house which meant we had more $ for reno, so could get it done quicker.
Accountant has also advised that for a period of 6(? can’t remember exactly) years we will still be able to get CGT discount if we decide to sell because we lived in it first.
I’m definately considering renting ourselves again as it’s cheaper and means we can live closer to the city.Katie
Thanks Wille,
I’ve decided to go for it and am getting on well, just hoping there’s a bit of a manual to go with it cos I’m finind that I don’t completely understand the descriptions in the little comment bubbles.[blink]
Ktaie
Hi,
It’s good to find a useful thread, I was getting all dispondant at all the sarcastic/jaded/pointless ones.
This is my first property so my learning curve is immense right now, but the biggest two are:
Be EXTREMELY detailed when briefing tradesmen, even the most straight forward job can go wrong without the proper instructions – I ended up with 3 exaust fans instead of 2 because the sparky thought I wanted one in the laundry not the toilet!
Make your mortage broker explain every detail for the buying costs until you understand – our deposit went from $10,000 to $5,400 and noone knew why; I eventually descovered our mortgage insurance had been added to the loan instead of the deposit.
Katie [biggrin]
Hi Cindy,
Do you have meetings? I would be very keen to meet up with like minded people in Perth.
I’m just working on my first property and trying to find the next one, have seen lots of interesting things I’d love to discuss with you and the other members.Thanks
Katie
Hi Kate,
I would really like the info on the Perth Property Investing Group, please can you email it to me?
Thanks
Katie
Hi Krs,
A lady I met recommended her Accountant, she said he wasn’t cheap but owned a lot of property, I haven’t called him yet.
Not sure about whether I should post his details on the forum – does anyone know the right ettiquette for these things, given that I don’t know the guy personally?Thanks
Katie
Hi Kenneth and Pegasus,
I’m not sure that they did move away from positive cash flow; despite the majority of the room voting that they thought prices in Perth would continue to rise, the large sideways vote and the vibes I got from Steve made me think that property rises wouldn’t be guaranteed and that careful property selection was still needed if you wanted capital growth.
I also thought that he was trying to impress the need to use more creative strategies to get positive cashflow, not just a basic reno.
The strongest impression I came away with was that hanging onto any property that wasn’t giving you the maximum return either as captial growth or positive cashflow would be a mistake as sooner or later things are going to start moving sideways.
I think I’ve confused myself now!
I just remember feeling uncomfortable when people kept asking ‘where can we find positive cashflow properties’ I don’t think that was the point of the seminar at all.
Katie
