ZEN TIME,
Who learns more? The student or the teacher?

One of the final stages in learning anything is the process of explaining it to someone else.

Why deny people this opportunity to reinforce what they know.

Or, in my case a lot of the time, attempt to explain something that I misunderstood the first time and have someone correct me. (I…[Read more]

I think that a lot of people who take the long slow road don’t even try a shorter path. There are lots of easy to find reasons to NOT HAVE A GO, such as:

Too many stories of get rich schemes and “A Current Affairs” con men and the like is enough to scare the peoples majority off anything faster than a 45 year super retirement plan.

Heck, the…[Read more]

Geeez Shaunwalker,
Prepared to go to war and lose sanity. …..Was it worth it looking back?

Ozi,
Yeah, I think your determination will pay off.

Live, Learn and Grow

Lifexperience

When first looking at the ad, it is priced at the same as a LOT of other 3&4 bedroom houses on your search.

Maybe plug the long term lease a bit more on the ad and really push the flash interior on the smaller thumbnail buyers will glance over while looking through the realestate.com pages.

You may have to drop the asking price if the market…[Read more]

They all seem about the same figures. I would probably look at the quality and long term prospects of your tenants and also the house which would probably be up for maintainance sooner (older house)

Which has most depreciation and of course which is the most desirable location for people to live.

[biggrin]

May all your dreams come true.…[Read more]

Seems reasonable, You are better off not paying any CGT (if it can be argued as your PPOR) than paying CGT as an investment property. I wouldn’t argue with an accountant who is reducing your tax.
If you are really worried, get the accountant to put it in writing with names and rulings they used from the ATO.
The tax office sometimes give different…[Read more]

Brahms
What sort of property? = newer house zoned rural on 60 acres.
General area? = about 10 mins from a large regional centre. 1 hour from eastern melbourne suburbs.

why you bought this one over others etc. It is surrounded by 5 acre blocks (subdivide and conquer) and local town has a growing industry.

I am sure that people will soon realise…[Read more]

Thanks Jo,
You are sweet.

And i was very careful when I read that and managed to avoid burns, bruising and pink eye safely.

[]

May all your dreams come true. (except for those evil dreams and maybe that dream where you had no pants on in school, oh, and that other dream with the invading martians and the……………)

Lifexperience

Put the following info in your clients signed letter ( you can post it for them)

full name, DOB,Drivers Licence Number, Current residential address, previous addresses in last 5 years, current/previous employer, name of organisation most recently applied for credit, contact number.

Oh, and another good one is to visit them at their home to see…[Read more]

I found the following out the hard way, I hope you have better luck

Police Checks – $27 – from local cop shop takes two weeks

Thelandlord.com.au for blacklist checks for private landlords costs $100 per year(or if you know a real estate agent property manager get them to check the TICA database.) takes 1 minute. Make sure you help this database…[Read more]

Hi Mayneiac

Allow for the extra repairs you will need to do to furnishings. (especially appliances….6 new fridges, 6 new washing machines, 6 broken couches.

I will give you a lil’ help doing your sums on first property (you must learn maths to be a good investor!!!!!)

COST(based on 20 % loan)

$225000 price +(5% closing costs)

=$45000…[Read more]

I love all the market discussion, there is so many different ways to look at it.

I read somewhere a description of market prices:

The market is unpredictable, on some days the market gets excited and thinks its goods are worth more than they are[]. On other days the market is pessimistic and thinks that the goods aren’t worth as much as they…[Read more]

But you are right, market is what I paid for it. So technically I should have worded it… purchased for a lot less than the current asking price on similar (much smaller land area and with older buildings) properties in the area.

May all your dreams come true. (except for those evil dreams and maybe that dream where you had no pants on in…[Read more]

Yack,
Thanks for taking an interest in my activities.

I didn’t mean to talk the deal up too much, It was just a good feeling at the end of the day to acheive something that I was personally proud of. and I just wanted to share it….that was all.

Thanks for the perspEctive.
[biggrin]

May all your dreams come true. (except for those evil dreams…[Read more]

I explained a ato wrap tax ruling and even gave a topic id number and ruling from ato records. My accountant still felt compelled to charge me to find out something I already knew. [blink]

I plan to do a lot more wraps, so I am too considering a change.[eh]

lifexperience

Well they accepted our offer ($30k under asking…) time will tell the end outcome at settlement.

PG, thanks for your help.[biggrin]

lifexperience

Tough situation,
If it has been valued at less than the purchase price. It might be best to cut your losses and walk. An actual market sale straightaway would probably be less than a valuation anyway, you’d also lose transaction costs and repayments while finding a buyer.

No point frantically buying something for 300,000 that can only be sold for…[Read more]

OK,
Thanks for everyones suggestions and help. We are hoping to settle on a price tomorrow subject to 80% finance being approved.

I’ll let you know how it goes, I’m meeting agent and vendor in person and am hoping to negotiate a sweet agreement for all.

[]

lifexperience

redwing,

show me a sentence (any sentence), that can’t be taken out of context when removed on it’s own.

“show me a poor person with a good attitude.”

……. was followed by

” i came from poverty and i know poverty does not change until it changes its ATTITUDE,”.

It would seem that resiwealth used this particular belief to rise out of his…[Read more]

Residex,
In trying to understand your initial point, I can see how a number of people would jump to conclusions that you probably did not mean to infer.

When one trys to simplify their point to a single statement, it often becomes cryptic. That then leaves your view open to interpretation.

It seems to me that you are using the view that “money…[Read more]