Lawyers don’t pay your tax, …..you do…

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Lifexperience

If the bear tenants are tourists from down south, how many vacancies do you expect?

I would hate to be interviewing a lot of new bear tenants as I don’t know the lingo too well.

It would be hard to bear, if you couldn’t seal a long term tenant.

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Lifexperience

Domain.com, Realestate.com and others

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Lifexperience

Check your council rates notice, it should have their estimate.

Or you could ask all the real estate agents in the area how much they would be able to sell your house for in the current market (they will usually give you an inflated figure)

Or just check out what similar houses in area are selling for at auction and in papers.

The second most…[Read more]

Wow Calder,

Thats textbook stuff on using investments to pay for luxuries….I’m impressed.

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Lifexperience

If you want to find a tenant over christmas, throw in some sort of gimmick to attract a tenant before Christmas.

………Santa will bring a Free Christmas tree and X-box for your family if moved in before Christmas….

or…

…..free school holiday entertainment vouchers for any family that move in before Christmas……

…….house…[Read more]

Sorry Property Plus if you had genuine queries, but a lot of posts are made that promote their product by talking it up.

“Seems quite good” to describe apartments in Australian Capital Cities will evoke immediate skepticism as a lot of people are currently being burnt for such purchases……ie: if you bought a Melbourne Docklands apartment…[Read more]

It means you can do deals without having to come up with the deposit and full closing costs. If you are smart with your offer, you can do these sorts of deals with No Money Down.

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Lifexperience

You sign a contract to buy a property for say $100,000 and then before you settle (could be up to 90 days later). You find someone to buy it from you for say $125000.
You can charge this higher price if the property market is booming. If the value has actually increased.
If you have managed to get council approval to subdivide or similar in that…[Read more]

Stick it in a trust, and distribute the capital gains component to all your close relatives that are on a lower tax bracket than you. (Slip them a few hundred bucks, they’ll love you).

Or…. sell and make a giant loss in any of your other investing activities to offset gain.

If you are actually living on the land (caravan?) claim it as your…[Read more]

I am aware of some of Steves techniques such as wrapping and second mortgages but frankly they are a bit beyond me as I a am only new to the investing scene (practically speaking).

explain some of steves ideas in some basic terms

Second Mortgage: Normally the bank will lend you 80% of the price of property and put a mortgage over title.
You…[Read more]

lol…..too funny

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Lifexperience

hi Bumble,

I too watch all my friends spending, spending, spending while I focus on minimising my lifestyle so as to do as much investing as I can.

I don’t think this attitude is particularly restricted to a certain age group. There is a widespread problem with living beyond your means right across the age groups.

I am only just starting to get…[Read more]

….people like me who will deliberately slow down if some one comes speeding up behind me. Often using other cars on two lane roads to block “speed demons” getting through. And particularly enjoying slowing right down to catch red traffic lights.

HA HA

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Lifexperience

Ah….Yack, you scared him off. I was just starting to have fun.

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Lifexperience

Resiwealth,
DeNile. ha ha.

I did pick up that you put this across as a rhetorical question.

Spanky,
I think that it is a very widespread problem. I personally would like to contribute in some way towards solving it. Another reason I need to attain financial freedom, so as to have the time and backing to do so.

I really admire People like Steve…[Read more]

Last few months, The Government are really clamping down on this type of property transaction.

The tax office will now throw double stamp duty on any such transaction.(vic)

Check out your states new tax rules.

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Lifexperience

6.6% yield is $1760 pa rent.

So if you buy at 80% LVR, you will need

$52000 deposit
$10000 closing costs (approx)
$62000 total.

Your approximate expenses may be
$2500 rates
$1230 (i am guessing at least 7%) Management fees (are probably more)
$500 repairs (shouldn’t be too bad if its new)
$16853.16 Loan repayments (6.5% on $208000 over…[Read more]

An expensive car will give that person the illusion of being well off.

I think the reason is simple: It is because that type of person wants the best possible lifestyle NOW. And due to a lack of financial intelligence, they are unable to understand that they have thrown away an even better future.

To you and me and basic logic……IT IS CRAZY.…[Read more]

Hi,,,, and welcome to forum.

If you are talking about Off the plan apartments…..dangerous waters (short term over supply of an overpriced item)

I know gold coast apartments are widely regarded as a bit risky due to the high dependance on the tourism industry (volatile)

Propertyplus, please give your reasons why you think “they have quite…[Read more]