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Viewing 11 posts - 1 through 11 (of 11 total)
  • Profile photo of JetstreamJetstream
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    @jetstream
    Join Date: 2003
    Post Count: 12
    May 27, 2004 - 8:37 am

    Hi Jackie 5

    We have just gone through the process of buying from overseas, it is a bit tricky! We were fortunate to have parents in the game already so they did all the legwork, a spotter would do the same thing…

    Regarding the loan, we already had an IP but we needed to refinance with a lo-doc RAMS loan to get the second mortgage which has really hurt the purse strings…try to find a better way! I saw someone speaking of “members equity” who apparently are quite flexible. The lo-doc was needed because my partner and I both are both working “contract” jobs rather than permanent (same thing really but better ££ for us!)

    Not sure where you are living but here in London there are Australian companies selling property with everything (incl bank issues & solicitors) sorted out for you. All for a price though…

    The Power of Attorney thing is VERY important.

    Good luck

    Jet [biggrin]

    Profile photo of JetstreamJetstream
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    @jetstream
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    May 13, 2004 - 5:05 pm

    Hi Russell

    We are currently living in the UK also and have been advised by our accountants over here that it is extremely important to make sure that you get registered as a non-resident (tax-wise) of Aus while you are away. My understanding of this is so that you can use the depreciation and “losses” of your IP’s against your taxable income in the year that you arrive home and start to work in Aus again. I think you actually have to register as a non- resident as it doesn’t actually happen automatically.

    Sorry about the vagueness, let me know if I can help anymore! I will investigate tonight (I have explanation of this) and will try and post again soon.

    Jet [hair2]

    Profile photo of JetstreamJetstream
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    @jetstream
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    March 12, 2004 - 6:27 pm

    Good on you Malachii!!

    Interesting concept. It proves that thinking outside the square works!

    I think it is hard to determine that fine line (even with all the research…) between rent being too expensive/ too cheap.

    That is great for you.[:D]

    Profile photo of JetstreamJetstream
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    @jetstream
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    November 20, 2003 - 3:25 pm

    Choose a job you love, and you will never have to work a day in your life. – Confucius

    Sorry that was 17.

    Jet[:D]

    Profile photo of JetstreamJetstream
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    @jetstream
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    November 20, 2003 - 1:22 am

    Hiya

    Kay Henry leaving???? [:(] What is this news? Is it true? I really enjoy reading everyone’s input and Kay is one of them.

    Very interesting reading Prop16…Thanks

    Bill – I get all hooked up in the idea of still searching for an IP at the coast, but then I read your comments and advice and it brings me back to earth… Although I did check the number of rentals in the area and there are hardly any on offer, isn’t that a good sign!?

    Jet[8D]

    Profile photo of JetstreamJetstream
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    @jetstream
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    November 20, 2003 - 12:57 am

    Hi

    Good post Westan!

    This is a topic that I have thought about tons lately – what to do! Keeps me awake at night even! It is difficult when markets in different states are running different races and you hear such different reports/ opinions.
    We are really keen to get a coast IP – for future use by us also (Sunshine coast QLD) and can’t make up our mind as to whether to wait and see or find something now for the capital growth. (as it would definitely be negatively geared – which I hate!)
    It is hard to know!

    General investing in other areas, we will get the finances prepared ready for the exodus that is due to happen in the next year or so.

    Jet[8D]

    Profile photo of JetstreamJetstream
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    November 11, 2003 - 1:02 am

    YAY!!!

    Its that 10% rule again… (90% of people don’t think for themselves… they just follow others..)So that potentially means that only about 10% of the 10% of people that are investing in property get it. This is technically only 1% of people. Yay.[}:)]

    All the more positive IPs for those who do get it.

    Jet[:D]

    Profile photo of JetstreamJetstream
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    @jetstream
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    November 11, 2003 - 12:52 am

    Hi

    Thanks Bill for your advice, it is much appreciated to have someone to learn from. Your opinions are interesting and I hope that everyone recognises your vast experience and knowledge.

    Thanks for your insight…very interesting!!

    Jet[:D]

    Profile photo of JetstreamJetstream
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    November 10, 2003 - 10:04 pm

    Bill

    Would really appreciate a copy, very interested in the concept of selling privately!

    Thanks, you are great! [:D]

    Jet[8D]

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    November 4, 2003 - 3:00 pm

    Hey Westan

    Thanks for your concern! Our IP is actually managed by my parents who have several IPs also – they can deal with all the issues of fixing items etc, while we jointly keep in contact with the tenants re other issues. I agree with you about being there is easier, but in dealing with people personally about other issues it is amazing how easy it is with the email etc, it is even really quite cheap to call Aus (just lining up the timezones is a bit tricky! [:(!]

    Thanks for your suggestions guys. much appreciated.

    Jet[8D]

    Profile photo of JetstreamJetstream
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    November 3, 2003 - 4:26 pm

    I think that realestate.com.au is only available to advertise by PMs and agents. Correct me if I am wrong![8)]

Viewing 11 posts - 1 through 11 (of 11 total)