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itsandrew
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@itsandrew
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May 31, 2010 - 2:09 am
Thanks all for taking the time to reply. I have found it quite helpful.
Duckster, I have equity I haven't borrowed against and I have some unused funding in a LOC I can draw upon. My LVR will be 40-45% once the IP is settled.
Terry, thank you. I hadn't considered putting an IO into the equation in that way.
Number, appreciate the subtopic.
Thanks,
Andrew
itsandrew
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itsandrew
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@itsandrew
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May 29, 2010 - 4:48 am
Well, It's half way through day one and we are learning heaps. Tommy Senatore is absolutely fantastic. I'm not quite ready to log on and buy (paperwork not withsdatanding) but I am confident I will by the time the weekend is over.
Andrew
itsandrew
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itsandrew
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May 28, 2010 - 7:51 am
Just one more sleep. Good luck to all the early morning travellers, I admire you greatly
I'm ready for tomorrow now, passport and photocopy – check, inet USB – check, wife – check, umm … did I forget anything?
Andrew
itsandrew
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itsandrew
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May 27, 2010 - 4:24 am
hi Terryw,
I have been reading about the 6 year thing with CGT but as I am new to this stuff I don't fully understand how it works. Does it mean you can rent out a property for 6 years and not pay CGT if you have lived in it previously? Does this mean you can have an alternative PPOR during this time?
Andrew
itsandrew
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itsandrew
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May 27, 2010 - 3:59 am
Hi Andrew,
An interesting aspect to the interest rate question is the upcoming federal election. There are schools of thought that say the RBA is reluctant to raise rates around election times. The excpetion to this rule is the last federal election where I am pretty sure it happened during the formal campaign.
I presume that higher rates would push towards a buyers market. More foreclosures and sales from mortgage stress, less confidence to buy. Seems supply would rise in comparison to demand.
Andrew
itsandrew
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itsandrew
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May 26, 2010 - 9:41 am
Sammy, $20 sounds cheap to me. How many would you need to sell at that price to break even for your property? A house worth 400k would need to sell 20,000 tickets – that sounds like a lot to me.
I'm not familiar with the concept, perhaps the target market wouldn't be familiar with it either and therefore slow on the uptake. I'm interested to see if anyone knows of it happening in the Australian market.
Andrew
itsandrew
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itsandrew
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May 26, 2010 - 9:34 am
Hi all,
Paul – I am interested in your comments about not purchasing direct from the developer because you are waiting for the "real price". While using this strategy have you found your purchases to be cheaper than the price the developer was asking?
Regards,
Andrew
itsandrew
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itsandrew
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May 26, 2010 - 1:14 am
Hi again,
Further to my previous comments I was watching the 7.30 report last night and Kerry O'Brien was interviewing Lindsay Tanner. The 40% Super Tax came up again and (rhetorically at least) he was claiming there was room for negotiation. The line of argument went something like 'if we released a discussion paper about the tax prior to formulating policy we would have had the same response from the mining companies. So we set the policy and are now negotiating the details – it's all the same!'
Here's the link: http://www.abc.net.au/7.30/ "Tanner denies mining tax ambush"
It seems like the Governement are starting to try and sound concilliatory at the same time as sounding hard on 'greedy' mining companies. The message is starting to sound confusing. The question for me is if they are back pedaling or spinning.
I suppose it's even harder now to take a view on implications for property until it is cleared up (or muddied) further.
Andrew
itsandrew
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itsandrew
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May 25, 2010 - 7:29 am
Hi again,
Thanks to e1 for their thoughts.
Marissa – I saw Martin Ferguson being a little more concilliatory than Rudd or Gillard about the makeup of the 'Super Tax' (ie about thresholds and other 'details'). I think this is a bit of 'good' cop, bad cop but I really dont know. I think that Rudd has too much invested politically in this tax to make many changes but if there is a massive backlash he might change the makeup of it. How do you think it might change?
Andrew
itsandrew
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itsandrew
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May 25, 2010 - 5:18 am
Cheers Benjamin,
I didnt look much further into the link method after doing the lesson. Sounds like I should! I looked more at associations and using files eg. skeleton file. I'm remembering 15-20 things if I take a little time to do it. I have 45 files in all. I learned the first 10 states of the USA in alphabetical order in about 3 mins using the files and associations. Not bad I thought given there is no real context for me as an Aussie.
You're right, I think doing it with a friend would be good as it would keep me accountable to progress through the chapters. Also the competitive nature would help move things along. But so far so good.
Andrew
itsandrew
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itsandrew
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May 25, 2010 - 4:54 am
Hi Adam,
I read answers to this type of question throughout the forums and find it an interesting read. If you run through the forums you'll see it pops up a few times a week. ie, +ve gear versus -ve gear; income stream versus capital growth. Not knowing Toowoomba I have no idea about capital growth potential.
Other forumites seem to decide what's best based on their investing goals. Some want to aggressively invest for wealth and it seems to me that they buy and hold everything and use their equity to grow a lot of wealth to the limits of their borrowing capacity. Others seem to buy and hold +ve cashflow properties and expect only slow to moderate capital growth. Others buy develop and sell to make quick cash to achieve other investing goals.
I have just developed and sold an IP for a cash injection but I'm looking at buying +ve cashflow next time. I want to build some passive income.
Although I have started my property investing journey I am still pretty new to this. My final thing would be for you to ask yourself what your life goals and investing goals are. How you make sense of these questions might help you make up your mind.
Regards,
Andrew
itsandrew
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itsandrew
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May 25, 2010 - 4:13 am
WOW!!!!
itsandrew
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itsandrew
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May 21, 2010 - 7:27 am
Hey Benjamin,
Are you doing the CD's? I've been doing the book and am up to day 7. It's been great. I havent learned as much as you yet so that's why I ask the question. Hopefully I'm not missing something!
Andrew
itsandrew
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itsandrew
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May 21, 2010 - 2:15 am
Hi J,
I reckon it's great you are posting practical information for people who are interested in US property. There's just so much to learn especially for people like me who are only just starting to look at the US option. Does this law only apply in KS or is it nationwide?
Just out of interest how much are the fines for non-compliance? Sounds like the EPA has some serious teeth.
Andrew
itsandrew
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itsandrew
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May 21, 2010 - 1:51 am
Well I am looking forward to it as well but as Uppitt noted the drop in the AUD is definitely complicating the tax lien side when investing from Australia.
Where are you coming from Ros? I'm in Melbourne so its not as complicated for me.
itsandrew
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itsandrew
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May 19, 2010 - 2:34 am
Hi all,
I've always wondered something about this. Is there a difference between having a boarder versus renting out a room? Or is it the same thing?
Andrew
itsandrew
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itsandrew
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May 13, 2010 - 10:44 am
Thanks all for the replies.
The reason I initially asked was because I was looking at investing in some CF+ properties and had mining towns on the radar.
I know that there are not only miners and exec's but also major infrastructure projects. I have all of a sudden become quite nervous about the strategy because of implications that it may have on the size of the workforce and the viable lifespan of the mines and its infrastructure projects.
For me it's a matter of 'watch this space' as it seems that it will be a major issue in the upcoming election. I watched the budget reply tonight and Tony Abbot said that he would not only oppose the super tax but would also rescind it if he was elected. The flipside is that kevin Rudd is being pretty cagey on the details and definitions and it may not be quite as dramatic as he had once envisged it to be. Obviously time will tell.
Thanks again to everyone for their contributions.
Regards,
Andrew
itsandrew
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itsandrew
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@itsandrew
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May 13, 2010 - 10:24 am
Hi Melb,
There is a highly recommended mentoring program that is conducted through this site called the RESULTS program. I have not been enrolled myself but every student of the program I have spoken to over the last two or three years has been extremely positive about it. Perhaps some of the graduates who use this site can make comment in this thread.
I believe there is an intake underway at the moment but you'll have to investigate further to see if there are any spots still available. You'll also need to assess if it is the type of thing you are after. The weblink is http://www.resultsmentoring.com/
Well done on taking your first steps towards property investing. Stay tuned to the forums and the website as you'll find lots of information from people who are already making property work for them.
Regards,
Andrew
itsandrew
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itsandrew
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@itsandrew
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May 5, 2010 - 1:42 am
Hi Angela,
Could you provide more details please. Perhaps you are speaking about mum123? If so I believe they have been blocked.
If there are other active spammers it's appropriate to advise through this forum.
Regards,
Andrew
itsandrew
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itsandrew
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@itsandrew
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May 5, 2010 - 1:33 am
Hi TJ.
Your best option for this type of post is to re-post it in the forum: property investing => help needed. I see you have made a post in 'help needed' forum before. I think it will work best for you if you go down this track with this type of query.
Good luck with it all.
Andrew
itsandrew
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