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kay henry
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@kay-henry
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January 29, 2004 - 1:04 pm
Mel,
I’m not suggesting they’re con artists or insincere :o))
I just prefer the seinfeld episode (on last night) on mentoring.
kay henry
kay henry
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@kay-henry
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January 29, 2004 - 12:37 pm
http://www.wildlywealthywomen.com
Yes for only $2995, you get your very own mentor!! And you get your story published in a book! The authors won’t even have to write the book- you will be!! and they get the profits- wow- this just gets better and better.
Isn’t it marvellous these women mentoring us for only $2995.
Guru schmuru- save your 3000 bucks for a deposit on an IP.
kay henry
kay henry
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@kay-henry
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January 29, 2004 - 5:38 am
Thanks sis :o) As all my rents go to the mortgage, I sometimes find it difficult to find money upfront to do these “extras”.
I also find that, given we only get back 1/3-1/2 of expenditure, I wonder sometimes if it’s worth it. I’m happy to go on hols so I get something out of it, but extra trips- at only half back- are just more out of pocket expenses i have to deal with.
kay henry
kay henry
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January 29, 2004 - 4:19 am
sis, how do you afford the upfront money to go and visit 13 properties all over Australia in one year?
kay henry
kay henry
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January 29, 2004 - 3:56 am
I said:
“a sex toy (bloody inappropriate gift, but I’ll use it anyway)”.
I meant, of course, that I’ll use it as an example… [?]
I couldn’t find my edit code!
kay henry
kay henry
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January 29, 2004 - 3:51 am
ok, so i give my accountant or PM a sex toy (bloody inappropriate gift, but I’ll use it anyway) and it costs me $100. Now why would i do that when I am only likely to get $30 back from the ATO? Am I wrong again, or is ridiculous to spend all our profits on “gifts” for others? Isn’t property about gaining a lifestyle? Not about giving gifts to others when we only get a percentage of that back?
kay henry
kay henry
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January 29, 2004 - 2:44 am
I’m sending you all out an email now with an attachment called “ILoveProperty.exe”
hehe- can you resist?
kay henry
kay henry
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@kay-henry
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January 29, 2004 - 2:37 am
Houses! Don’t be like that! I really enjoy youtr contribution, so don’t tantrum if you see something you don’t like!
I did ask sis these questions, and he has explained his answers. I take responsibility for asking the Q’s and I’m not hugely literate in some areas as it related to property, and probably need things explained fairly simply.
On a discussion board, we have all kinds of people. If we had a hissy fit every time we saw something written that we disagreed with, felt offended by, or had concerns about the tone, we’d be huffing and puffing all day! Stay with us, Houses, and either discuss or ignore
kay henry
kay henry
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January 29, 2004 - 2:33 am
You guys are funny about women- hehe. Guess we are all one bunch of Venusians or something :o) Always cluttering our homes with useless nicknacks woth you fellows rolling your eyes and patiently saying, “that’s lovely darling- now what are we going to do with it?”
You wise old things!
kay henry
kay henry
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January 29, 2004 - 1:49 am
Elysium,
I have been interested in finding out why the seller is selling- sure. But usually, I have a relationship with the RE agent by that stage. So it’s more about conversing with the agent.
I am more likely to ask “so, who’s the seller? How come he’s selling?” to which the agent will answer, “he has a few properties around the place” or “he/she is retiring to sydney and getting rid of a few properties”. These kind of responses by the agent don’t seem to me to be a betrayal of the vendor- they’re just general responses.
I don’t think this topic is about “morality” or “ethics” Elysium. I guess I just think that the selling agent represents the buyer= I think we’ve all mostly acknowledged that. Therefore, whilst there’s nothing wrong with you asking, just don’t be surprised if the agent gets a bit persnickety when that’s the first question he/she is confronted with.
kay henry
kay henry
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January 28, 2004 - 1:22 pm
Yes- $1000 per property. But that loss is only offset on income. So we have $4-5k expenses on a property- but also 5k income. That balances itself out. It would only be losses on all these deductions if there ewas no income- but we get rents, remember? Rents make it all fun, or we would be chicking our money into a river.
Mel, when me and my former partner had properties together and broke up, we sold them to each other. We had to sign divorce papers, believe it or not, saying we wouldn’t be reconciling. When you break up with a partner, I thought that it was an easier matter to split property. Am I wrong on this? (I can’t remember what happened when we when to the solicitor to do all that stuff, or how much it cost etc- it was all a bit distressing at the time).
kay henry
kay henry
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January 28, 2004 - 1:04 pm
Mel,
Thanks for your replies Yes- newer props- post 1985- have generous depreciation allowances. But if a young man of 21 has 13 properties, they are not all mansions or new properties… Hence, I am wondering if such allowances apply.
Mel- if I might make a query to you. You said some of your props are in two names. If you want to change those into your own name only, do you have to sell each other the properties? As in you and the co-owner?
kay henry
kay henry
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January 28, 2004 - 12:54 pm
Bill, noone would think you had sent a virus to PI.com. You’re respected on here, Bill Time to get back into the fold and into the discussions, Bill!
kay henry
kay henry
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January 28, 2004 - 12:44 pm
Mel, that’s all good. What I’m wondering is how sis can minimise his tax to zero taxable income! Surely, the more we earn, the more our initial taxable income is- makes sense. So you are able to reduce your income to 40k- and get back something like 5k on a tax return. But you have only reduced your income a total of 10k taxable income. As some of your IP’s are neg geared, therein lies the loss, so you get back tax.
But if sis says his poortfolio is mostly “neutrally geared” (neg gear balancing out pozz gear). There is therefore no loss, and hence, one’s income would remain one’s income, all profits and losses taken into account.
I am pretty much a dufus on figures, but most of us here have done heaps of tax returns in our lives. I’m not really into the “morality” of repayment of HECS either (believing in public education and all). But i am wondering about the mechanics of income versus tax.
kay henry
kay henry
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January 28, 2004 - 12:29 pm
rodneybrian! Get out of that wheelchair and walk, young man! It’s all in your head! Believe you’ll walk and you will!
kay henry
kay henry
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January 28, 2004 - 12:19 pm
awww, don’t be [!] Mel. Remember how much tax you got back during the time of that negative gearing? :o) Funnily, by the time I started making money on my property, I had to pay a tax bill- first time in the last 9 years I’ve had to do that. That was a bit [] too.
kay henry
kay henry
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January 28, 2004 - 5:53 am
No kidding yack. Even the two-tier marketed places of the 90’s have now made a profit from their original ripoff prices.
If we have a crystal ball, it would be interesting to see 2 years ahead. Would people be saying “I bought in 2004 and have made a 60% capital gain”, or will it be flat?
Any seminars can boast success of “giving” investors great CG’s. But it was the *market* that brought the CG- not the seminars.
kay henry
kay henry
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January 28, 2004 - 5:38 am
Well, I’m a simpleton financially, but I still don;t know how you can reduce 100k income to 0k income- is anyone else able to do this?
kay henry
kay henry
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January 28, 2004 - 5:04 am
I said *some* of us, Rugby- and by that, I mean my friends, colleagues, family etc :o)
kay henry
kay henry
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January 28, 2004 - 4:30 am
jak, without going into too much specifics of what happened… it’s probably a bit too much to ask the tenant to lift the carpets himself- that’s your responsibility- not his.
If the tenant wants to stay, but feels he had to live in difficult conditions, then it might be a good time to negotiate with him- that is, *if* he seems to be a reliable guy and his intentions are good. If you say 10 weeks rent, and he says 2… can you both live with 5 weeks rent?
If he vacates and you have a few weeks vacancy, plus 1 week letting fee, etc, or on the other side, wrangling with the Tribunal, it may not be the best outcome for you either.
By the way- how’s your carpet? Nice floorboards underneath? And what the hell is your Property Manager doing? I would have imagined they would have been assisting. but i guess they can only do what the owner instructs really.
This is probably a good story that you’ve written, for those buying CF+ houses in flood areas- even though i know yours was an accidental flood, jak. But for those with flood places- you godda wonder, is it worth it?
kay henry