Amused,

I could say I have bought ten properties this week and am living off equity at the grand old age of 25… but any person can say anything on a forum. Sometimes people talk things up so that we will use their strategy. Just like people say they are the “best known wealth coach in Australia” or how they made “millions using a secret…[Read more]

Peter,

You’ve missed out on the boom- ie having property before the boom- but so did many people. the best time for you to purchase property is now AFTER the boom- in a flatter market. so don’t panic- there’ll be many opportunities around, but I am not sure prices will be pre-boom eiother- so you might get less bang for your buck these days.

At…[Read more]

richie,

It all depends on if you want to be sold a fish or taught to fish yourself.

kay henry

hehe baloo [lmao]

dmichie, that’s a pretty good article, I think- sums up the different groups pretty well. I think a lot of people got in over their head in the last couple of years- 105% loans, LMI, deposit vouchers, multiple properties, henry kaye seminars worth 10’s of thousands of $, no money down, etc etc- I wonder how much negative equity…[Read more]

Carlin,

It’s not just RE agents who are “talking the market down”… nor is it “doom and gloom” messengers… blind Freddy could see the boom has ended in sydney… surely, we are not in denial about that? As investors, it’s in our interests to know the state of the market. As if the RB would fall for RE agent tricks- sheesh- they’re not idiots-…[Read more]

I have always supported the vendor/exit duty- it subsidises first home buyers’ via atamp duty exemptions and the FHB grant- go figure- it has to be paid for out of something.

As to valuations… it might be a different story if people get their properties valued now… I was reading an article in the Age on the weekend about mezzanine finance and…[Read more]

heya tom

The apartments are 229k- I think you could do a bit better for the price. I’d have to say though, that that area is an excellent location- I just stayed there yself for the last few days- it’s urban, stylish, and a very good precinct for an investment property, I would think.

The apartment is 1 bedroom (not studio) with a study space.…[Read more]

Kelly,

You’d me more likely to get 10-20% LESS than your asking price in sydney in this market, rather than 10-20% ABOVE your asking price in a wrap. Most first home buyers are flat out getting into the market in sydney as it is. Not sure how they’d be able to afford a wrap with a higher premium and a higher interest rate.

kay henry

RosePink… I’m thinking country here- I’m thinking… CWA tea rooms, PCYC youth club, dance school hall… b&b?

Woolies in a “small country town”? Do you mean woolies as in sheep? or the major national supermarket?

kay henry

Michael,

On your “real job”, I calculate (on a vanilla taxable income of 100k with NO deductions- this would be unlikely for RE investors, as all would have deductions unless pozz geared…) that the tax to be paid for 2004 earnings would be $33,807 plus 1500 for medicare allowance. The figure paid for tax would be even less for the 2005 year and…[Read more]

Yes, Terry, there are some costs aassociated with selling, but there are also costs in keeping and paying off properties. Why not sell off some property at the peak of the boom and use that money elsewhere or even pay down debt to push up rental income?

I thought the whole purpose of investing in real estate is to have, for example, a million…[Read more]

Yesah, Terry- oops @ me! Here’s some info below from the Tax Office (www.ato.gov.au) :

Records relating to inheriting an asset

When you inherit an asset as a beneficiary of the estate of a person who died on or after 20 September 1985, you may need to obtain information from the executor or trustee.

If the asset was acquired by the dec…[Read more]

You would pay no tax if you made no capital gain. That would be called cutting off your nose to spite your face.”

kay henry

Yes, you will, clueless. You’ll pay it at the usual tax rate- on the profit- given that you’ve held it for less than 12 months.

kay henry

If it doesn’t work out, there’ll be a few people who will become bankrupt- at 70, and in the twilight of their lives. Of course, there will be those who can do it- but not everyone will be able to- the more vulnerable people (grandma and grandpa investors) will go broke- as is the way with most of these things. Some of them will have too little…[Read more]

Luci- don’t get me wrong- i am really big on education. One has to constantly update knowledge in this world as it’s so competitive and ever-changing.

A few points… not all university courses are tax-deductible- and certainly not forfull-time students. The govt stipulates that the course must be related to one’s employment. I can’t do any old…[Read more]

Yes, Scott, Glebe is between USYD and UTS- walking distance to both, whereas Marrickville is a bit more of a bus trip, but still

Anubis- that whole “Fusion” notion is massive in Architecture and Design Schools right now. I am amazed that people don’t view it more as the way things are moving- the old facades with the modern accoutrements. I must…[Read more]

Scott,

It’s possible that marrickville may be the new glebe, but with the newer style academics. Marrickville is quite “postmodern” in a way- a huge mix of the new and old. A lot of people I know are looking ofr that mix. They think new (think WC, Green Square) can be bland… whereas old (Marrickville, St Peters) can be a little oppressive… so…[Read more]

Marisa- bugger that that’s happened I feel for ya.

working with humans is always a risk- what can one do? property is a risk. I imagine pretty much every landlord here would have someone who was a problem tenant at some stage (c’mon- tell the truth, ‘lordies!)

Marisa, I like to insist that the tenant has their rent auto-paid into my account (I…[Read more]

awww Scott I think they need to get rid of the family in the foyer to sell that unit- I really do.

It’s interesting about gentirifaction… Alexandria was a big industrial suburb before the boom, and now, after the boom… well, it’s just a big old industrial suburb! Same with Marrickville really- as in it is the same suburb with the same…[Read more]