Thank you. Didn't think about the buying costs! I don't think that includes stampduty though does it? Selling costs would just be settlement fees (that I can think of) as we will be negotiating directly with the tenant on price, etc.
That is correct, hubby takes greatest amount of CG as he is the one working – well, for an income that is!
Still haven't got myself an accountant and the one I have my eye on is getting married today so might not be available for a while. I have been doing our Tax Return for years, probably a bad thing as might have left a few too many things out! Ouch..
Thanks for your time. We have owed the property for 5 years now. It hasn't been a large CG but roughly $150. Our income level is roughly 90k and only one, yes – hubby – is working. We can claim a loss of $5000 I think plus a few years where I have had a loss due to no income – don't think that will help us much, though? Yes, will be buying more properties – both PPOR and IPs in the future.
Hi all. For those of you who haven't seen the property it is on the market and we had the first home open last weekend. It was a while in getting to this point, with 3 kids and all – and my lack of 'multitasking expertise' but I managed to stage the house myself with a little help from the "finishing touches" manual that was on offer at the mega conference this year. I needed a few more prints for the wall but I think the end product has been well accepted by those who have seen the house to date. Cheers
When I spoke about a company in Perth, yes, they were commenting on here, in our Perth cycle. Not just a sweeping statement of all Perth suburbs (just like you indicated) as there are markets within a market and this company usually promotes certain areas as their research has found that these areas have proven over time to have growth even in the down markets, etc.
Our tenants used to live in Sydney. Apparently they only paid a flat rate for 5 years, so I guess that is why they preached doom and gloom, and hell fire to us and our property agent! Calling us capitalist! Haha. We do have a good relationship otherwise. Looking after their lawn and giving gift vouchers, flowers and movie tickets as a reward for such prompt payment helps with the extra rent, I think. Nice to chat and find someone who is similar age to me around these parts.
I am a little confused. I have heard of the same thing. Carly Crutchfield also promotes this same idea. The only area where I see it could to be 'shady' is when the money is handed over. If you are a "buyers agent" I would suspect the money to travel through all the right avenues whereas if you are a "spotter" that may not be the case. A spotter, from where I see it, is just someone who is doing a cash job, getting paid less and doesn't necessarily have the expertise to 'charge' for his time and effort. A spotters fee is usually negotiated (with the potential buyer a long time prior to any transaction occurs) the spotter never goes directly to the seller for the purchase, he just sources the information, does the number crunching and presents the deal to the buyer – that is my understanding.
Lol, on the Peter Ellyard. I read Marty's book that someone else bought, while in his lecture. Oh, and then found Marty on FB and friended him… until he realised he didn't 'know' me. Oh well.
Rachel started off slow but totally agree; inspiring and useful information. Have been looking into Daniel and his methods and approached him to see if they did managed funds as I wasn’t' about to learn the share market from scratch. He said they would be offering this service at the end of the year. The main problem I had with his idea (looked into after the seminar) was that you have to pay rather high fees for guaranteed stop losses. I have also heard that Daniel doesn't use them often as it cuts into the profit margin significantly. Will you be doing his course?
Pity we didn't get to meet more people off the forum. Those who I did manage to catch up with HELLO from WA.
I heard Manuel speak about 8 months ago at APN. I was one of the lucky ones who rushed up the front to get a 1on1 session with him. From what I know of him – the faciliators I have spoken with, the little research I have done and some people that I know who know of him, he seems to stack up. I met his brother at Mega Conference this year, also. Manuel is running a business, that is very important to remember. Of course if he can have a win, and you win at the same time, that makes for two happy people. I declined to enter the program as they were selling "buy and hold" strategy, and that wasn't what I was looking for at the time.
Let me know how you go, I will pleased to hear about the meeting and what you decide. Hopefully I will see you at next month's APN.
FWord, I am renovating my PPOR at the moment to sell. From what John says it might be better to see if someone wants to "rent to buy" the property instead? I might get a better dollar value in the long term and they could potentially reap some benefits of capital growth as well. I know a company over in Perth who have forecast for property prices here to increase in the next 6-8 months. They are a reputable company but probably one of the only ones I have seen to be so positive in the current market. We have just the one IP and now it is +CF. It's taken a while and our tenants are screaming blue murder that we raised the rent. We stupidly told them we wouldn't be raising it in the near future as it is now in line with our expectations (but below market value). Perhaps in 12 months time that can be argued that it isn't 'near future' anymore?