Yep. Live the Aussie Dream Now…..and pay it off later.

I see it as a basic misunderstanding of the concept of living within your means.

I think the problem begins with with a basic financial illiteracy on the part of the Australian Public.

Resi, I think you have hit the nail on the head when you point out that the contingency plan for a lot…[Read more]

:o)

Live, Learn and Grow

Lifexperience

Ask the NAB, they should give you actual contact

Live, Learn and Grow

Lifexperience

Don’t rule out keeping it and avoiding the capital gains tax that you would otherwise pay (even though after 12 months it would be 50% discounted). You can use the extra value in property to secure finance for more deals + you get good depreciation on a new building.

Live, Learn and Grow

Lifexperience

0 -$400

Live, Learn and Grow

Lifexperience

If, after a few wise warnings, you are still keen.

You need to find the equivalent of the consumer affairs office in you state.

You can get all the forms you need,, (I am in VIc)

Bond lodgement forms (cheque must go to Residential Tenancies Bond Authority)

Lease forms

Property Condition Report

Landlord/tenant responsibilities handbook (hand…[Read more]

I found that when all the room were full, you have great positive cashflow and also get benefit of any property price rises. Seems at face value to be the ideal scenario.

I found that it was a huge amount of work due to a few things.

1. Many more tenants mean many more vacancies. Which means many more applicants to find and process and mucho…[Read more]

Ask everyone to send their gift for you to someone else who is on your christmas list. (Saves on junk collecting at your house).

Don’t drink drive………….it’s a washing detergent.

Live, Learn and Grow

Lifexperience

Dammit,
So what am I supposed to do with all these donkeys now??

$2 a ride anybody??

Live, Learn and Grow

Lifexperience

Ha, Everyone has a price.

Well done Nath on a win/win

Live, Learn and Grow

Lifexperience

Agile.
” I think it is important to acknowledge the legal rights to the leased property these tenants have.”

Well said, What you want to do with an IP is really something that needs to be clearly thought about before you move tenants in.

Unfortunately we live in a dynamic world where the best of intentions when moving a tenant in, may change…[Read more]

hi deardamo and welcome aboard.

I haven’t been to a masterclass yet.

Some things to take maybe, notepad and pen (take two or three for the person next to you who always forgets one.), some of your business cards (say 20) if you have them in case you meet people you want to network with, i always take buttermenthols to such things……..

Live,…[Read more]

Ooo, ooo. I have another from last weekend.

All the boys from work went out fishing on Port Phillip Bay . A dozen blokes and 4 boats.

Anyway as the day dragged on, and we were unable to catch anything worthwhile, We discussed a bit of skiing behind the boat….we had no skis or wakeboard or anything suitable……..except.

Well, as I am always…[Read more]

Whoa,
I have moments daily that could be considered embarrassing. The actual embarrassment feeling gland in my body must be all dried up, as I don’t get that red anymore.

Todays: My boss (electrician) asked me(cocky electrician) if I knew an easy way to fix Christmas Lights as his lights from home were stuffed……. eager to show off, I said…[Read more]

Has anyone set up a hybrid discretionary trust on-line? I havent been able to find this on cleardocs or lawcentral.

Live, Learn and Grow

Lifexperience

ok terry, I think I’ve got it.

Thanks

Live, Learn and Grow

Lifexperience

Greg,
Its the same for quotes, I find it easier to drag and highlight the area to change colour THEN select the colour from the pull down list.

[red ]It should look like this in the message editor[/red ]

And then appear like this on the boards

[red ]Fonts should look like this in the message editor[red ]

and like this on the boards

cool…[Read more]

Hi and Welcome and well done at looking at property investments so early.

Sounds like a great idea, your major hurdles will be

A. Finding an Insurance product for the building that covers a share scenario with this many people. It could be $10,000 +. It is easy enough to get building insurance but when you mention that it will have shared…[Read more]

derek,
Is that for real? Gee whiz, the ATO never cease to amaze me.

So, the interest paid to a lender for a mortgage on an investment property is not deductible in this instance?

Is there any way to structure it differently.

like maybe take a LOC on the block and then put it into a term deposit and a few months later then use it to pay off the…[Read more]

You still get the odd $35000 house for sale in the trading post in Vic.

Derek,
Oooh, imagine that sinking feeling in your gut as you realised you wrapped a property for $4000 interest while the capital gain value was jackpotting.(I assume at 2% above his own interest rate which would be $500 per year)

Still, at 80% LVR, the property would only…[Read more]