Forum Replies Created
- Originally posted by Badgers_R_Us:
. The old values such as hard work, responsibility, loyalty and all the other things that give a person integrity and purpose are seen as a burden on the short-cut to fame and/or fortune.
What’s eating you?
Hi BRU’s, have a look at this article, published in the paper version of last Saturdays SMH.
http://www.smh.com.au/news/national/it-works-for-me/2006/02/17/1140151815367.html
Sounds like your having a bad day and want to rant.Yep.. the times they are a changing.. the 20 somethings generation has a whole different value/morality/goal system than the BB’s like me and I pressume you ?
Whether you agree with it or not, like it or not, it seems it is here to stay. There is a labour/skill shortage in Oz and in most sectors employers now have to “sell” positions vacant to applicants.
Apart from that, whats eating me is the traffic jams in Sydney CBD during the pm peak, particularly Elizabeth St which should be renamed to Elizabeth Car Park, coz nothing moves. All these selfish tossers who try to run the intersections on the amber light, and end up in the middle blocking people trying to get through on their green. Causes chaos for blocks around
regards,
Paul
….24 hours after my initial post and things are just as slow… I know that it isn’t my isp connection………………Network Admins ?………. ?
Originally posted by gronk007:Just Learning…
I can only think of my concern about the potential lack of capital appreciation the next 4-5 years in the previously mentioned areas…
Adrian
If you are looking for the “‘correct”‘ answer to that question you won’t find it here or in any expert opinion/data that is published or that you pay for. No one knows the future, its all just opinions – some backed up by research/data, this factor or that factor – some just based on gut feel/local knowledge.
I could post that I think anywhere close to the Sydney CBD is a safe bet for CG over the medium/long term and I’m sure that there would be as many different opinions come back, as there are replies to my post – all backed up with data, examples, past trends, quotes about some experts research into population/housing trends over the next 20 years , etc, etc…… its all here on this forum and other well known PI forums. Att the end of the day, you just have to take all that onboard, analyse it, filter it, educate yourself, gain the confidence to form your own opinion and go for it….. If any one really knew the “right” answer, they wouldn’t be broadcasting it here, they would be busy buying up.
As I said, for me its inner east Sydney, or for that matter any major centres on the NSW coast – especially those close to airports/ university/diverse industries. Lets see how many opinions come back agreeing/disagreeing with me.
regards,
Paul
Apolgies to all non NSW>>Sydney> eastern suburbs, but if your after captial gain in the medium or long term why would you look past the most sought after area in NSW
Hi 007,
I have heard that as well. I think it is because a 1 bedder would only appeal to a limited section of the market ie single ppl or couples with no kids. This would apply when you are looking for tennants or down the track when you look to sell. Thinking about it.. if I was in either of those situations, if I could afford it I would prefer 2 bed ie junk room/study/ proverbial “‘doghouse”‘.
Having said that I have a one bedder in a 12 storey building with lift, pool and gym. What that means is higher maintenance ie strata levy’s and a possible nasty one off levy for major unexpected works, if the sinking fund isn’t able to cope.
However I would have thought the lifts and other facilities would add to the buildings appeal to tennants and also a potential buyer when you look to sell.
Like you I’m looking inner (east and beaches) sydney and all I could stretch to is 1 bed. I’m watching the market in those areas and still think prices will fall a bit more, but over the long term I think capital gain will be good
All my opinion of course.
regards,
Paul
I think what Dazzling means is does he have to include the $100pw that the tennant pays in outgoings as income to himself ie because he has “discounted” the rent. I’m no expert but I think you could do this, the market rent is what the owner and tennant agree to do business on, how could the ato benchmark that. Not sure why you would do this because you would obviously lose the tax deductions for the outgoings.. unless he is up to something between seperate entities that he controls and wants to reduce the taxable income of one of them. The mind boggles – there could be various reasons.
regards,
Paul
…””ok I’m one of those people”‘ – just wanted to clarify that I am one of those people with broadband always on, not one of the “”steve and co”” that you seem to be alluding to as part of some sort of conspiracy theory. If there is some sort of conspiracy I’m certainly not part of it,although if there are $’s in it, would like to join. [sleepy2] [party][biggrin]
Hope these emoticons work , I’m “just learning””
regards
Originally posted by Just Learning:lol, ok I’m one of those people, but going off on another tangent.. ..there doesn’t seem to be a “‘logout”‘ facility on the site. I found that even back in my “‘bad old days”‘ when i was still on dial up (ie last month) that if you closed the browser window on this site or even clicked away and then came back in the same window, maybe 4-6 hours later you were still signed in. Realised that this is not neccesarily a good thing when I found out that some of my childrens friends had made some obnoxious posts under my log in.
ps – don’t think this forum will ever die. As mentioned by others January is a time when most of Australia signs off and goes to the beach, so it seems to be quieter. Have lurked here for a while and will continue to do so while I continue to learn. Will also contribute when I think I have something meaningful to add. It seems that property isn’t the flavour of the month at the moment with the masses, but if you don’t keep your “‘ear to the ground”‘ ie including participating in forums like this, when it does become flavour of the month again, you will learn about it only when the party is over.
regards,
Paul
regards,Paul
Originally posted by hb:thats right mike
64 computers left on overnight, connected ,via adsl, to this page….will steve and co please turn off their computers…..
and if it isn’t them, would you guys that are up at 3.00am in the morning please contribute ………
some people?
lol, ok I’m one of those people, but going off on another tangent.. ..there doesn’t seem to be a “‘logout”‘ facility on the site. I found that even back in my “‘bad old days”‘ when i was still on dial up (ie last month) that if you closed the browser window on this site or even clicked away and then came back in the same window, maybe 4-6 hours later you were still signed in. Realised that this is not neccesarily a good thing when I found out that some of my childrens friends had made some obnoxious posts under my log in.
ps – don’t think this forum will ever die. As mentioned by others January is a time when most of Australia signs off and goes to the beach, so it seems to be quieter. Have lurked here for a while and will continue to do so while I continue to learn. Will also contribute when I think I have something meaningful to add. It seems that property isn’t the flavour of the month at the moment with the masses, but if you don’t keep your “‘ear to the ground”‘ ie including participating in forums like this, when it does become flavour of the month again, you will learn about it only when the party is over.
regards,
Paul
regards,Paul
Originally posted by hb:thats right mike
64 computers left on overnight, connected ,via adsl, to this page….will steve and co please turn off their computers…..
and if it isn’t them, would you guys that are up at 3.00am in the morning please contribute ………
some people?
Derek,
Oophs, sorry to refer to you as Terry. Was reading one of his posts at the same time, anyway will email/PM my xcel spreadsheet. It’s really basic, as you alluded to., KISS. would be interested to see yours.
regards,
Paul
Hi lbglen,
Coincidentally, just finished making up a simple xcel spreadsheet for myself for exactly the same purpose that you are after, maybe similar to Terry’s. Also, I agree with Terry and AmandaBS about paper records, I do the same.
If you want a copy of my spreadsheet, I can email it to you. Not sure how all that works, doesn’t look like you can add attachments to public posts or to emails sent from this site – looks all a bit to difficult to work out
regards,
Paul
Terry – I’ll show you mine, if you show me yours ! – just got to work out how this emailing attachments through the site works
Hi Sue/ Millionaire in Training
From your profile I notice that you are about the same vintage as me.
When I was alot younger, one piece of investing advice I was given that still sticks was never sell a property and never pay back a loan. ie as mentioned in earlier posts in this thread “”harvest the equity””. which will grow over time. I have a new understanding of this , revealed through reading posts on this forum and another prominent investment forum. ie the “”incidental”‘ costs of buying and selling RE are huge, then there is CGT to consider when selling.The alternative is to borrow against your equity at a tax/interest rate of say 7% – no selling costs, you still own the asset and have cash in hand to do something else with, whether that be an overseas holiday or another IP or shares. – I would never have been able to think in those terms except for the “”education”” I have received from this forum.
regards,
Paul
If RE investing isn’t the flavour of the month, then its probably as good a reason as any to get in to it.
If the “regs”” think this forum is dying then can I add my own 2 cents, as an almost 2 year lurker . I have learn’t so much by following the various posts here.”, and the fact that so many experienced regs give their time for nix speaks volumes for this site.
What is annoying is people that blow in and ask questions like “hi – how can I get $1m of cash flow positive RE tommorrow – please answer me in the next 30 seconds and no I don’t want to pay you a fee.”
In my own opinion I have gone beyond posting “””so where do I find all these cash flow +ve deals, handed to me on a plate “”, but haven’t quite reached the stage where I would call myself an expert, qualified to advise other people what they should do. There are probably alot of people on this site in the same situationregards
Paul
Westan,
Sorry, it was just my brain going at 1mkph. When you wrote “with one day to go” play had already started, so I thought, that you thought there was another day to go. Realised after I posted that wasn’t what you mean’t.
regards,
Paul
Slight error of judgement on my part, (eats humble pie ) lol. Seriously, well done England. We were outplayed in the whole series. It is annoying however that the weather and bad light play a big part in any series played in England.
Paul
Hi Richard,
Are you nervous for us (oz) or them..sorry I don’t know your background I’m “just learning”, lurk alot, post sometimes. It looks like its going to come down to a one day game scenario. I have to revise my initial forecast, lol – maybe oz starts a one day chase sometime in this session. Lee seemed to be fired up last session as well – its already resumed after lunch, gotta go watch.
Told my wife this is a matter of significant national importance, but she doesn’t seem to care, has gone to bed
regards,
Paul
nah its all over, we have it in the bag. 4 for at the moment. Warney and McGrath will clean them up before lunch, the sun is out and we will get the 150 – 180 needed to win.
ps – Westan, today is the last dayregards,
Paul (ever the optimist !)
Quote:Originally posted by KRUPTA:.
My thoughts are that if you are increasing your asset base by more than your expenditure on a year on year basis, it all looks good.
I too am looking at this path, but as you say it very much depends on:
1. Having a <edited>e load of equity to start with.
2. Equity base increasing at a faster rate than what you spend/borrow.
To be full time investing with the knowledge that you can say, acquire $1mill of +CF property(diversified of course) in 1 yearIf you can find $1m of +CF property, please let me know and maybe we can JV that into $2m.
Have a look at http://www.navra.com.au,I haven’t (yet)had the time to go into his strategies, but they seem to make sense if you have enough equity to start with AND your asset base increases faster than you spend it. Unless this is happening even Steve Navra advises that you are up <edited>e creek.
Sorry to butt in here, but as one L Plater to another I think I understand your confusion. Your property has increased in value and so that money is yours. You still owe the bank $135K.
You have 2 ways of accessing your money/equity
1. Sell property, pay out loan, put $50/$65K in your bank account and do with it whatever you want. (as well as find somewhere else to live !)2. Go to bank, ask them to lend you another $50K, which they will charge you $3,500 interest pa (approx) for. You then put that money in your bank account and do whatever you want to do with it.
If you use the $50K to buy a new car, go on a holiday or whatever then the $3,500 interest is not tax deductible.
If you use the money as a deposit for an income producing IP or use it to buy shares or some other income producing investment then the interest of $3,500 is tax deductible.
In either case under option 2 you have borrowed $50,000 of “your” money from the bank and eventually have to pay it back, whether that is in 5/10/30 years time , if in 30 years then maybe the $50K will be the price of a Big Mac. ie sell your property for $1m, pay back the $185K to the bank and put the rest in your own account.
As I said at the beginning I too am an L Plater, but the mortgage brokers, accountants and other professionals in this forum are great and are here to help, not rip you off.
regards,
Paul
Originally posted by MrTrader:Hello Mortgage Hunter,
Thanks for your reply.
This is where I get confused however…the 50K that I withdraw (seemingly from thin air – ie. an increased valuation of my property)… do I repay this to the lender AS WELL as the other 150K I would have on loan for the IP???
Here is my story in brief:
MY PROPERTY:
purchase: 155K
loan: 139K
outstanding loan 135K
value of property now: 185-200K
Seeming Equity: 50-65KSo while I have repayments for the 150K on the IP, do I also have repayments on the 50K added to my home loan AS WELL???
Cheers
“found a pleasant surprise talking with elderly folk (everyone 40+ ), and tapped into a very rich vein of experience indeed.”
“Some of the conversations are a bit vague, as the memories sometimes fade, but the ones with a clear memory are absolutely fantastic.”
lol, I’m 44 and oh no I forgot to sign up for a funeral plan before the alzehimers set in, lol. Seriously, I think you will find that alot of us “elderly folk” just stumbled on property equity by owning a PPOR in places like Sydney over the last 10-15 years. Its what people are doing or want to do with that equity that makes the difference. We generally have a mindset that property will always appreciate over time, although “this time around” there are alot more communication vehicles like internet forums where alot more differing expert opinions can be found all in the one place. I read a post here sometime in the last 12 months by either Mini Mogel or Kay Henry (yeah, sorry its the Alzehimers !) where they advised a newbie to stop shopping for opinions ie ask a question, you will get 40 different replies, some pro some against and you will keep looking until you find one that reinforces what you believe to be true at the time.
The “big secret”as I see it is that no two persons circumstancws and goals are the same. As an individual you need to work out what you want to achieve and educate yourself in whatever choosen field, THEN, ask others for their views. I am no property guru, but I’m not naive either and it really makes me cringe when I read posts along the lines of “hi I’m new to this property investing stuff but I heard you can make lots of money, how can I do it ?”‘ – my answer ? give your money to me I will pay you 6% guaranteed.
regards,
Paul
When you get there can I be your p.a
Seriously, apart from the negatives you have experienced in Coogee, where else in Sydney can you go, if on a Tueday night at 9pm you need 1kg of Roma Tomatoes. Not that, that happens every Tuesday night, but contrast that to an experience I had going to a Sunday lunch BBQ whatever somewhere in the backstreets of St Ives. Running late, as usual, bundled 3 kids into the car, “thinks to self – need to byo liquor – do that “over there” – has visa, passport, toll money – lets go” – pay $4 for privellege of going to north shore – arrive somewhere in St Ives boonies – need to buy bottle of wine at 11.00am on sunday – ask host ? — well umm… if you go down this road for 4km and turn right and go for 2km… ? – and this in one of the most exclusive suburbs ( ie expensive) in Sydney (ie the most expensive city in Australia)-If your are looking for a pulse don’t visit the north shore of Sydney on a Sunday
