Forum Replies Created
Hi Mabbott!
In a partnership one compliments the other in some way or form.
In my own scenario I am the one that does all of the searching and number crunching, I tend to suss out the finance side of things, tradies, PM etc.
Although it does not seem my partner does alot, I rely on him to keep me sane and grounded when things go wrong and believe me when they go wrong you need your rock there. I communicate every step of the way and ask for his thoughts to keep him involved with what is happening.
Enthusiasm is contagious, everthing I read that gets me excited rubs off to him.
So my words of wisdom to you communication is the key to making anything work.
Good luck with your investing [thumbsupanim]
Jenny
Jenny1
Hi mkc
If you are thinking of investing in property and for the amount of money your thinking of out laying perhaps you should think about contacting either Westan for US property investment or Don/Liz for NZ properties.
Other than that shares might be the way to go. I don’t know enough about shares to be of any benefit to you. It would be best to talk to a finance adviser if you decide to go down that track.
Good luck
Jenny
Jenny1
Hi Dazzling,
I swear you were looking through my keyhole when you said glass of red in hand (not the cuban cigar though) when contemplating our financial future[lmao].
I/We we would love to come over to Perth and chew the fat on IP’s you have over there, sounds interesting….
Not too chilly over in Canberra, although in jumpers the other night at a Chrissy do[wha]
Enjoy your girls and your break, keep us in your loop.
Take care
Jen
Jenny1
I remember as a school girl hmmm just a few years ago, I would be sent to school with my Commonwealth Bank book and a small sum to deposit every week and get the offical stamp.
I learnt the value of money and how to put money aside for the things I wanted. Shame those lessons are not learnt still [blush2].
I agree that education about finance wealth creation should be taught in schools from an early age.
Good luck
Jenny1
Hi Shellby,
I agree with Xenia, there are no friends in business.
If you let that friend of a friend move in sometime down the line an incident will crop up and you will be put into a situation and not react how you normally would, due to the fact you have a friendship at stake. It all becomes too emotional [blush2].
I managed my own place when I first started it all went without a hitch.
Good luck
Jenny1
I will have a gathering of 20 people both mixture of family and friends and a few strays that have no ties (I tend to get a few more strays every year, can’t bear the thought of people being on their own Xmas Day)..the more the merrier.[biggrin]
It’s a great day with everyone chipping in with food, wine and help with the clean up. We go for a swim with the kids, desert coffee and a little snooze.
That evening we travel to our dear friends place and have dinner and lots of talk and chat. [laughing]
Next day…we go on holidays in sunny QLD visit rellies and then over to Mission Beach for New Year.
Have a great Christmas everyone whatever your doing!
Cheers
Jenny1
My nephew started his business from his bedroom at 16yrs he expanded and rented a small commercial property. At 17yrs he has his own company but couldn’t be Managing Director until his 18th birthday.
His business has expanded and he moved to larger premises. He turned 18 in May has legally become Managing Director of his business and employs 8 full time people.
His business turns over $40,000 per month and is still growing rapidly…am I proud of him? You bet,[biggrin] he works very hard to get where he is, and is now asking me for advice on property investment.
He has no intention of retiring as he loves what he does.
Jenny1
Dazzling by name Dazzling by nature,
Gosh Dazzling your dealing in the big league now, well done![biggrin]
Just a few questions, is this the biggest deal you have done thus far?
How did you go about structuring your loan, did you do it your self or through a broker?
Cheers
Jen
Jenny1
Hi All
I use Bentleys MRI Accountants in Canberra – Anne Rhodes 6274 0400.
I have used other Accountants who like Mckero missed things and were late submitting the return, and it has been alot of trial and error finding one that is switched on to IP’s.
But now after finding Bentley’s they sorted previous returns,corrected and resubmitted to get the monies owing back to me [biggrin].
Solicitors I have used Hill and Rummery – Gordon Duff who is switched on with conveyancing etc I don’t use them for anything else. I know a good family law solicitor but that is another story [wink]
Hope this is of help
Jenny1
Hi all,
You are all very interesting and have diverse backgrounds and jobs.
I have the best job/s in the world. I am privledged to work/live in a boys boarding school, I am the housemother to 112 boys there is not a day that goes past that I don’t either laugh or have a cry, I am privledged to watch them grow up and share their lives.
Because I am not an authority figure the boys come to me and I listen to their problems, give advise on what aftershave to wear on a saturday night, and then also listen and advise on girl problems.[blush2]
I am basically their to provide after hours medical treatment and to provide supper and lend an ear. I work this position after hours.
During the day after leaving the school I become a personal assistant to a Managing Director and work a full day before going home to the boys. I need to be home (at school) by 5.30pm and work until 9.30pm. I suppose I am just like any working parent coming home to the kids just a few more of them.
Last weekend I had all the Year 7’s come to my place for dinner, hubby and I laughed at their stories and had a great night, today I had afternoon tea with the Year 12’s and cried as they all talked about how much I meant to them. I replied that I had lost a son but now am a mother to many sons.
Cheers
Jenny1
Hi Del
They are playing me for a sucker, he would have to pay more money if he left my place.
Agents make me mad though, before I bought the place he said could get $260-270 per week rent now he is baulking at $250..might need to think of a new agent as well, I have now got 3 properties that he manages and I asked for a discount as paying 10.5% for each property. He said he doesn’t know as only gives a discount to builders!! [angry2]
Good to have competition will let my fingers do the walking tomorrow [biggrin]
Take care
Jenny1
Hi Amy
Unfortunately there is no short cut when it comes to investing, knowledge is power and you need to spend lots of time researching the net, reading, and ringing up agents, on the net you have http://www.realestate.com.au will give you a starting point where you can narrow the search for properties within your price range, you are also looking at what industry is in the area you wish to buy into especially if your going to be purchasing in small towns.
If you are still looking in Sydney and only budgeting under $180,000 the following suburbs came up: Mt Druitt, Tregear, Ingleburn and Glenfield.
Finally you will get lots of advice, what I have learnt is don’t take advise from anyone that does not have investment properties themselves.
Good luck
Jenny1
Hiya Dazzling
Just love it when you give me a kick with those pointy toe shoes! [biggrin]
Yes I know you are right, the agent has gone too far onto the other side (tenants) and keeps telling me little snipets of info how he is a battler etc.
The rent will be increased the tenant would need to pay a higher rate anyway if he left my place.
Thanks again
Jenny1
I have increased my rents 5-6% on my Canberra properties, no one complained infact one property was vacant at the time and PM was inundated with calls. So I have no complaints [biggrin]
Jenny1
Hi Darby
I can certainly tell you which one not to get after having bad experiences, but life is full of learning curves and as such I would interview the next broker making sure that he has put together alot of different deals that he has seen through to the end and not dropped his bundle when the going gets tough. Being a property investor himself would be another plus when selecting a new broker.
There are alot of eager young brokers out there (not always having your best interest at heart), but saying that and having good advise given by Steven, Simon and Derek from time to time turning bad advise into good gives me alot of faith in the brokers on this forum.
Referal is the way to go!
As for deposit bonds I have used them from time to time and they are as good as money, plus you can claim the cost of a bond as a tax deduction.
Cheers, keep smiling [biggrin]
Jenny1
I am going to have built a couple of duplex’s on a property that I bought in Sept, hopefully buy the property next door and do the same.
Invest in my nephew’s business as he has picked up a couple of large government contracts and it looks like we maybe buy a commercial property together as his business keeps expanding.
So all in all a huge year!
Cheers
Jenny
Jenny1
ajransom
I have used Scott from Depreciator only last week on 2 of my properties and I was more than impressed with his timeliness and detailed report that he supplied.
I recomend Depriator services, I will use him all the time now as he has his people all over Australia.
Cheers
Jenny1
Hi Steven
Thank you for info, hope I don’t have the dramas I had with loans etc for this next project! The whole thing aged me 10 years.
Cheers
Jenny1
Thanks Dr X,
just love this forum, people are so generous with their time and expertise (you included of course).
I have met some lovely people through here that have taken the time to write/ring me up when I am in the p**, and sort me out or offer advise!
Thanks again
Jenny1
Hi 1Winner
I too live in Canberra..nice inner suburbs are Ainslie, Downer, Dickson (older types houses) Belconnen (northside) Bruce and Cook.
Acreage you have a new development called Wells Station selling blocks of land 15 minutes out of town. Established areas on acreage are Bungendore and Braidwood.
Southside you have Fadden and Macarthur or where the bushfires went through Duffy, Rivett and Chapman (all new houses in an established area) a bit prejudice here as have investment properties in and around these areas.
I think you can’t go wrong with anywhere that you decide on as it basically takes 20 mins to get from one side of town to the other.
Good luck with your hunt for your new home.[biggrin]
Jenny1
