Forum Replies Created
pmaurice,
I don’t see paying a 20% deposit as part of a pozz cashflow calculation. we could all pay 50% deposit, but does that mean the return is positive? I don’t think so.
Cashflow is based upon full price of the purchase- plus expenses. You get a bigger income than that and you’re doing well
)kay henry
Oops- not nerdy- I meant geeky! [
]kay henry
hehe.. Come on guys! stop being so stereotypically nerdy!
Sorry Mel- i made you an honorary guy- just one of the boys [
]Oh alright then- BE nerdy! you know you love it
kay henry
I would think with a 15K (or 50K seminar) you would NOT be able to claim it as a legitimate expense.
My study is claimable because it is an accredited course. It is 100% deductible. But I doubt I would be able to claim 50K from my wages for a course that is not accredited.
Can anyone clarify for me? [
]kay henry
I don’t believe there’s any poss geared IP’s in sydney. Show me the rental unit of 170K that is rented out for $340 and I’ll take it back and apologise
For 170K it *might* be possible to get a really old and bad studio somewhere. but $340 a week for it? nu-uhkay henry
HousesOnly,
This is why I posted elsewhere that I don’t want to buy in places that have demonstrated huge CG
*now * or in the past- I wanna get pre-boom rates and get value for money. I know my price range and what I can afford. I have to stick to that- it’s not much of a choice)Getting 20% discount on an OTP oversupplied apartment doesn’t seem good value to me. I can’t afford the initial price anyhow. Hence, my budgetary constraints mean that I am forced to do much more research (which i love) and put much more thought into the practice of buying.
People are discussing their strategies as if they’re millionaires and we all are. But some of us are just working class people who are excited by property.
kay henry
yack said:
“Kay
I dont think you understand the concept of investing in property for growth.”Thanks for trying to “educate” me, yack, but I do understand a few things [
]In fact, I cringed when I saw your comments about Queenstown. I know people who have purchased in Queenstown, and whilst I have no done so myself, I thought I would come up with some thoughts about how much money one needs to invest in property these days- more than one used to need.
I learn every day- by reading, and by thinking, and I try to keep my eyes open to many ideas- and to invest ethically. CG concepts ain’t new to me- I just understand why people choose cheaper properties over more expensive ones. My perspectives don’t necessarily my practices- it’s just about seeing the world from the other’s viewpoints.
It ain’t like investing in cheap properties is criminal- sheesh! I reckon we should be encouraging people- particularly when they’re just trying to enter the market.
kay henry
Shirley,
If I wait another year to get an IP, that’s another year out of my old life! [
] I only have a certain amount of working life left. Whilst I continue to work, I can continue to invest. “No work, no buying of toys” (IP’s) is my strategy.Hence, I wouldn’t put off buying for a specific amount of time- there will always be bargains; there will always be opportunities- no matter what the market.
kay henry
Well Matt,
If you buy 5-6 IP’s with 50k, you will then be in +300K (more like 400K) debt (with costs) for 30 years. Sure, you may have a possible $5 extra a week in your pocket, but can you service that kind of debt if hte mine closes down in this high falutin town you’re buying in?
Every IP you buy is a 30-year commitment. I say choose carefully.
These cheapies might require landlord protection insurance and a lot of upkeep. And can you sell one if your job situation changes?
Remember, if you only pay 10% deposit, you might have to pay lender’s mortgage insurance. It all adds up.
Will you have an empire at the end of it? or 30 years trapped and worried? It’s all up to your psychology and situation.
You could buy 1 investment property and make sure it’s a decent resellable one [
] and then plan to pay as much off as you can, get depreciation allowances if it’s a post 1985 building, and then aim for another IP each year after that.kay henry
Fibejebe,
I look myself up on google when I’m *really* bored- a bit of self-stalking is good for the old self-esteem
kay henry
kenzhang,
Noone i know gives a stuff about the queen either- although i know a heap of queens who are quite nice- but that’s another story
People in Australia like public holidays. We also might decide to enjoy the christmas holiday, even though we are not interested in the origins of the holiday.
Welcome to Australia- I dunno about it being the “land of opportunity” for all. You might ask some Indigenous people about that, and some asylum seekers at Nauru- they might have a different perspective.
kay henry
)
]
]
For 170K it *might* be possible to get a really old and bad studio somewhere. but $340 a week for it? nu-uh
] and then plan to pay as much off as you can, get depreciation allowances if it’s a post 1985 building, and then aim for another IP each year after that.
