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  • Profile photo of mahnovetskymahnovetsky
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    @mahnovetsky
    Join Date: 2006
    Post Count: 9
    August 27, 2009 - 11:14 am

    I think it was 10k each year for 3 years. The bloke told me they d this because there was a loop hold in the system a few years back. Old men were offloading there assets to there family or friends and then getting the full pension benefits. They just ruined it for the rest of us.

    The guy seemed really nice and said if we can state our case, my dad might no be penalised by much.

    Profile photo of mahnovetskymahnovetsky
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    @mahnovetsky
    Join Date: 2006
    Post Count: 9
    August 27, 2009 - 10:42 am

    I talked to a FIS and basically if my dad gifts me 90k(10k allowed as gift each year) then he could loose up to $250/month. Centerlink was ok with me giving him that money each month.

    Stamp duty that sux: I just paid stamp duty and now I need to pay it again :(

    I saw a mortgage broker today, if the bank evaluates the house at the same price as what I was told then I can get some equity out of my unit and I wont need to pay any mortgage insurance. Otherwise mortgage insurance will cost up to 8k.

    If i go ahead with this transaction I'm hoping I'll look back in a couple of years time and see that it was a good move. I'm hoping the higher end house will start rising nicely in the next couple of years.

    Profile photo of mahnovetskymahnovetsky
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    @mahnovetsky
    Join Date: 2006
    Post Count: 9
    August 26, 2009 - 9:30 am

    I have a 1 bedroom unit in toowong – 78sqm. Piece of cake to rent, close to train but not too close, close to bus, shopping center, close to uni of qld. Rents for 300/week which was set 1.5yrs ago. I bought it for 250k 2yrs ago now worth about 315 apparently. I rented it within a week using lj hooker. Currently there is a couple living there.

    My girlfriends also has a 1 bedroom unit in st lucia again piece of cake to rent, smaller unit than mine 60 sqm and also not a nice , rents for 300/week. Close to uni so really easy to rent

    Find a 1 bedroom unit and convert it into 2 bedrooms ;) I would like to do that to mine when i get the chance.

    Profile photo of mahnovetskymahnovetsky
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    @mahnovetsky
    Join Date: 2006
    Post Count: 9
    August 26, 2009 - 9:18 am

    My dad wants to move back to the redlands.

    Centerlink is also giving us a hard time as well. My dad does not want to loose or diminish his pension allowance.

    Profile photo of mahnovetskymahnovetsky
    Member
    @mahnovetsky
    Join Date: 2006
    Post Count: 9
    November 6, 2006 - 12:05 am

    Thanks for your input guys.

    Well my main reason to invest is to have the option to retire in 20 yrs and be able to enjoy life, live in a house of my dreams, ah the list can go on. ;)

    I just didn’t think my borrowing capacity was enough to get a house in the middle class. I do have a constraint for this first property and that is I work in the city so travel time is an issue.

    Yeah I’ll send you a PM see what you can offer.

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