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kay henry
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June 30, 2004 - 1:41 pm
Matt,
I sold a neg geared property to buy 3 more neg geared properties!! :o)) Seriously though- that one was an underperformer, and old, and, in selling it, it allowed me to develop more of a “taste” for properties that are more in line with the knowledge I now have, but that I didn’t have when it bought it 7 years ago.
I don’t know about your situation, but it’s always possible to sell off your neggy, and make some different decisions for your portfolio.
In terms of buying again… well, I’m signing off on a mortgage tomorrow, so I’ll see my bank manager and I may gently approach the subject of my financial situation, but I’m sure she’ll be firm and gentle with me- a firm “NO!” is likely [biggrin] I don’t have a “wait and see” approach to RE. I spent 6 years out of the market, and I’m getting old now… so I want to consume madly before it’s too late- hehe
And yeah, Mel- you’re the best thing since sliced IP’s. MEL FOR MODERATOR!!!! [biggrin][specool]
kay henry
kay henry
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June 30, 2004 - 12:58 pm
tycoon,
I reckon springfield, Qld, still represents good value
kay henry
kay henry
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June 30, 2004 - 12:39 pm
Gatsby,
I find I talk to different people in my life about different things. To my girlfriend, I discuss property and everything- as do I with my family. I seek advice from them, and want to hear their perspectives. They know me so well, and they think not only about numbers- but about where I’m going etc. I love hearing their wisdoms
With friends, it depends with whom I’m speaking. I think it’s all a balance. Even with friends who also have IP’s, I reckon if we sat down and talked property for hours, we’d want to move onto other things at some point, because any one topic can get jaded at some point. I’ve met people socially from the Forum, but really, I’m also interested in hearing about the rest of their lives, and not just speaking about property for endless hours.
I find when I’m totally focussed on property, that I fill up my head with reading articles, checking posts, reading reading reading… but that, really, it is MY interest more than it is others’ interest, and so I make it a private activity. I am sure if I spoke about golf for hours too- every time I saw my friends- that people around me might find it a bit much
It’s great to be able to rave about property, but there’s probably a time and a place. That’s why forums can be so great- we can engage with people who have the same interests… but really, if we met them in person, we would probably chat a lot about other things too.
kay henry
kay henry
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June 30, 2004 - 7:53 am
jerry,
I agree that any strategy ought be viewed in a current political climate. For example, if someone wrote a book about using deposit bonds and flipping OTP apartments before settlement… well, that book would now be no more useful than a betacord video player. The deposit bonds/flip strategy was so 4 years ago.
However, I guess the main premise of Steve’s book was about positive geared properties, as opposed to negative geared ones, and that’s been something new in the real estate discourse. For what it’s worth, I think it’s a decent strategy in most economic conditions. As to the IP’s one might be able to buyt for cheap prices now though… well, it isn’t for me, but it is for many. Also, as you’ve correctly identified, Steve got in before the boom, and in purchasing in a flat market, most of us made much CG.
jerry, I think some people will be in serious financial difficulty with 100% or 105% loans in this flattening market. I think some people have probably also bought up too much, without the reserves to assist them if IR’s rise. But those same people would have done so in shares at the tail end of a bull market too- high-risk takers looking to spend money, despite economic conditions.
jerry, the “not doing it because everyone else is” approach might work for you. For me, I am going to keep buying RE whether it’s fashionable or unfashionable, because for me it’s the preferred (only) vehicle for another stream of income (my job).
I think you’ll find everyone on here is different. It’s the same as somersoft- you find people on there buying exxy properties and cheap ones- same on this board. Often, it’s a matter of affordability.
kay henry
kay henry
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June 29, 2004 - 12:43 pm
Felicity and others,
If a person is going to sell a house, generally, in your opinion, why would the vendor leave money in the deal? They may make a bit of money on it (higher interest rate or something), but wouldn’t your average person want to take the money?
If they wanted to reduce CGT, the money they left in the deal would still be identified, wouldn’t it? What would the vendor get out of the transaction?
kay henry
kay henry
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June 29, 2004 - 12:04 pm
Dave,
Yoiu’d probably be flat out getting an IP in a regional city now that yields 9%, although I got one in August 2003 that has a 9% yield in a large regional city. But they’re becoming scarce.
You can probably get 9% in more country towns… mining towns… cheap properties with higher yields. Just think about what you want. Yield isn’t everything.Sometimes, cheaper properties come with a whole range of expenses- repairs, and your yield shrinks relative to your expenses.
There are a heap of investors on here that go for high yields. I am more of a 6%-8% yield person. I would rather have a smaller yield, but no repairs to my properties.
Do a check on realestate.com.au- just flick on any state and check out what’s around. Start with your own area first, and read as much as you can about RE. Finding CF+ places isn’t that hard- it just depends on if they are suitable to your own purposes.
kay henry
kay henry
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June 29, 2004 - 11:20 am
wayne- sorry for being [offtopic] I am not familiar with his work, but I’ve done lots of work on class and status in Australia- researched and taught about it etc. Doeshe make reference to the “aspirants”? It’s a new term really, and I guess it’s been a consequence of the discourse around the working class. Noone wants to htink of themself as working class anymore.. so now, they become “aspirational”. Politicians can call them aspirational voters, and noone gets angry at being termed such.
As for me, I am firmly working class- I’ll be a worker all mah life, but I don’t consider myself aspirational. I’m pretty content where I’m at.
I’m probably off track here, wayne- wanna set me straight?
kay henry
kay henry
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June 29, 2004 - 10:52 am
Del
You have always been respectful in your posts. Even in the old days of us having disagreements, I never felt uncomfortable about having differences- twas just part of the “argy-bargy” of discussion. ) I wonder did you feel like [axe] me back then? hehe. Thing is, I’ve never changed my perspectives on RE strategies. But I think we come to know people on the forum and know we have so much to learn from them. That’s why I like this place so much- I’ve so much to learn.
kay henry
kay henry
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June 29, 2004 - 10:24 am
Milly,
I have no issue with the names of people on my lease, as long as one of the person’s is still living there. I presume that if a single name is on a lease, that probably that person eill get a partner at some point throughout their tenancy, just as they might also get a pet, have a child, or have some other living arrangment change.
There might be some greater “stability” if the woman on the lease has a partner who is also willing to make improvements to the property- sounds good to me
The only problem I would have is them doing the floorboards… I would always have a professional do floorboards. Sounds like the tenants have a great willingness to make the place a home, but floorboards are such an important part of a place… ya don’t want a hatchet job done on them, as many homejobs can be (and have been) in this area. If you do a check on polishing floorboards, there’s a thread about it, with lots of good info.
kay henry
kay henry
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June 29, 2004 - 5:06 am
Martin,
Inference has been made to you being a Jenman agent in the past. I think it’s ludicrous that as soon as someone expresses an opinion, people try to then make some sort of association.
Anyway, I am not sure anyone has to justify who they are or who they work for. If you have doubts about Steve’s work, you’re entitled to have your opinion.
And as for me, I read Neil Jenman’s website, and I support the work he does. We’re all entitled to freedom of association.
kay henry
kay henry
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June 29, 2004 - 3:01 am
Martin,
You ask about the role of a moderator. When Steve asked me to moderate, he said just two things: to delete ads and posts that I found to be personally offensive.
That is the only role I have. Apart from that, I am just a participant in this Forum. I agree with some things people say, and disagree with other things. And I have my own opinions. Being a moderator doesn’t mean you lose your opinions.
but really- it’s a very minimal role… delete ads and posts I find personally offensive. It’s not like some powertrip.
kay henry
kay henry
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June 29, 2004 - 2:35 am
BJ,
As I said, no offence taken. I just thought you were waiting on a reply from me, so I gave ya one
Awww, your kid sounds nice, BJ. At least this post has given me an opportunity to hear about all the parents on this forum and the feelings they have for their kids- it’s pretty nice
kay henry
kay henry
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June 29, 2004 - 1:32 am
BlackJack,
I don’t know how gay we’re now going, but I guess if people have tired of slagging single mothers, dole bludgers, drug users, and the myriad of others, then it might be my turn BlackJack, I didn’t see your post as offensive or hurtful- I think I see where it was coming from
What I *am* interested in you saying is “I love my giant baby.” Just how big *is* the little blighter??
kay henry
kay henry
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June 28, 2004 - 3:06 pm
<edited>
Actually, there’s been some verrry funny posts in this thread. If people can be bothered reviewing it, there’s some forum funnies in here. Ya have to wade through the usual [hmm] stuff, but there’s some great lines, and I think they were brought out by the [hmm] ones. Thanks for starting it, Sue!
kay henry
kay henry
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June 28, 2004 - 1:45 pm
Gatsby,
Those Village People would be:
[biker] [builder] [cowboy] [helmet] [chief]
kay henry
kay henry
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June 28, 2004 - 12:31 pm
I don’t care what any of you spend the money on- pokies, ciggies, drugs, whatever. It’s not for me to judge what parents do with their money. I pay taxes, and it makes me happy that money is being spent on people. I don’t think it’s about good parents versus bad parents- it’s none of my business.
I think the only goosd thing about “private” money- as in money earned from wagesw etc… is that noone makes me justify what i spend my money on. The accountant doesn’t say to me at the end of the week “now kay, this money will be spent wisely, and not on drugs or alcohol, will it?” whereas public money seems to have some kind of moral strings attached to it. Well, not in my mind. Once it gets into your bank accounts, it’s none of my business. None of anyone’s business what I spend my wages on…. and none of my business what you spend your money on.
kay henry
kay henry
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June 28, 2004 - 6:27 am
<edited>
And just because someone mentions a lifestyle that is not their own, does not mean they are “jealous”. Rob, you have discussed other people having children… but noone has called you “jealous”. <edited> [biggrin]
kay henry
kay henry
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June 28, 2004 - 5:46 am
it’s not hard to feel happy for your 3 boys, sue ))
(So much for the fun in Forum Fun though!!)
kay henry
kay henry
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June 28, 2004 - 4:13 am
yack- good for you :o) I don’t have kids, but I’m glad the money is being spent on *people*, rather than on war ships to kill Iraqis, for example. The $600 is a tiny amount, that might go to some things that some families might not be able to afford. Who knows? Maybe some kids will get some shoes because they outgrew their last ones? Or get a decent birthday present instead of none at all, or something?
Lots of kids and families are in poverty. I’m glad the govt is spending money on them.
kay henry
kay henry
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June 28, 2004 - 3:50 am
Very cute, aussierogue!! Yer funny [happy3]
kay henry