lil_man,

don’t forget the new stamp duty exit duty (2.25-2.5% or thereabouts) paid on profit over 12% when you sell your IP (if it is a nsw IP).

kay henry

G7,

I think it’s also about “reward for work”. A friend of mine works about 90 hours a week, but she also gets 165k per year, and invests that back into property. I have other friends who work about 70 hours a week because of the nature of their work- it’s expected of them. I work far less than that, but my wages reflect that also.

kay henry

JG,

There are still properties on the net for $50k in rural areas. Whether they achieve near to $100 bucks is another thing..

The boom hasn’t hit parts of NSW- many of the really rural areas. Rates for some of these houses are less than $600 a year.

kay henry

Tru,

You might first try getting your overseas qualifications accredited to Australian quals.

I am not sure what overqualified means.. although I’ve hear that notion being bandied about for decades. Certainly, there are many people with degrees from overseas driving taxis in sydney, and their employers don’t seem to mind. How can you be overqualified for an admin job? It’s not like they pay any more than the pay scale.

Tru, did you come out here as a skilled migrant? I know many people who have permanent residency in Australia who have a degree from another country but no work experience here. It might mean that you have to go for a graduate position here, rather than you going straight into management or something, but I’d be surprised if you have to only do admin work because of your lack of experience in Australia. A degree counts for much in Australia, and Melbourne and sydney are full of new residents.

I’d say getting your qualifications recognised is your first step. A good resume is an obvious plus, but given that you have good quals, and extensive experience, I then think it’s a matter of going through The Age newspaper’s employment section and checking out what fits your skills and experience, and applying.

I know in some cultures (for example, it’s a tradition in Indian culture) that employment agencies assist people to find jobs, but that tradition is not so strong here for professionals. People usually find jobs themselves.

It might be worthwhile finding some other people from your country of origin, and ask htem how they fared when they immigrated. It might help relieve some of the isolation you’re feeling also.

By the way, Tru, do you have an interest in property? Or did you just stumble across us? :o)

kay henry

Darrin, I think it’s just a figure to make sure a property covers expenses. If one is paying interest rates of about 6.5%, then to get 10.4% ought cover all expenses.

For me, it’s an easy way to work with numbers. Muppet gave you the technical way. I just take the property price and then double it for rental yield. So a 50k house should get 100 bucks a week rent; a 75k house = 150 rent; a 100k house = 200 rent etc. The way I do it is not technically correct, but it’s close, and it’s easy on my brain.

10.4 = 104 weeks really… 52 weeks in a year, so double that for yield.

kay henry

bigben, ya funny thing There are some cheap Mounts in Queensland- Mount Isa and Mount Garnet and Mount Mount. Well, I made that last one up.

Ko_Starr, check this one out:

http://www.realestate.com.au/cgi-bin/rsearch?a=o&ag=&s=qld&c=57909092&tm=1092184104&id=101726298&f=0&p=10&t=res&ty=&snf=rbs&cu=&fmt=&header=

It’s either a typo or a really good deal. Sippy Downs is a lovely place. I neither have property there, nor do I have any vested interest in putting thre link to that specific property. But it’s soooo beautiful there

kay henry

Celivia You would have loved the show on SBS tonight on Joni Mitchell. God, I love her music

Sydney lost our Channel31 – the licence was lost [angry2]

kay henry

Phonix said:

“I declined the offer
her face went[angry2] “

hehe, Phoenix Why must cults be so unkind when we deny them money? I think so many of these grpoups play on our own insecurities/fears. They know some people have financial worries, relationship worries, employment worries, self-esteem issues… and we all have fears. Understanding people have worries is empathetic; exploiting those worries is toxic.

There was a funny episode on Everyone Loves Raymond tonight when the older brother joined a cult- hehe. Very timely

kay henry

Glen,

You would have noticed that Steve bought his properties in Geelong and Ballarat some time ago. He invented that wheel, and the horse has bolted. I promise there will be no more bad mixing of metaphors tonight

Just think of a number- say 100k, and then double that amount to get your rental yield- so 200 bucks. That would be around 10% or near enough. These days, you have to look beyond regoinal really to get these yields. Like mining and country towns in Australia. There are still some real cheapies in Victoria. Pick up a copy of Australian Property Investor magazine, and look through the median prices for Victoria, and circle the cheapies. It’s a start. Then check those places on the net, and then find better and better places.

You don;t have to find the cheapest place. As someone said on here recently, they look at 100 places before they buy one. I reckon that would be about right. The more places you see, the more you’ll have an idea of what’s out there, and what to look for. So you’ll see a place that might look shabby- maybe a 50k place… and then you’ll find another one that’s renovated… or you’ll find one that’s 1970… and then you’ll find another one for the same price, perhaps same location, that’s built in 1980… So many things to look for- but it’s all good fun

kay henry

Dan,

Yeah, it is advertising, and it’s not permitted in the forum. You can put the details of what you’re looking for, eg “Seeking JV blah…” in your signature, as westan has done, but not in the body of the message.

kay henry