Hey guys

It was good to meet up with all those that were there.

Elves, what free hand massagers? Did you get one? I’m so sad now []

I do like my stress house though – and I’ve eaten all my lollies….

Cheers
Mel

Hi Lilly

Welcome to the forums.

I would think that as the contract is now unconditional, if the buyers pull out you keep the deposit.

Remember though, that the agent is entitled to their commission (I’m fairly sure).

If your solicitor says different, ask for an explanation as to why. It all depends on what is written in the contract.

Cheers
Mel

A lot of the arguments on here seem to be about Today Tonight ‘misquoting’ Steve, and calling the ‘target’ creating ‘property millionaires’ when in fact the target is to enable people to control $1Mil of property.

Steve’s definition of propery millionaire

Well, with the exception of the ‘in any circumstances of life’, and on the basis that…[Read more]

my 2c for what it’s worth![biggrin]

In the ACT there is no land tax threshold either, so I’m used to paying it on every property. In NSW there is also no (or very very low) land tax threshold if you own properties through trusts or companies, so any of those investors pay it anyway. If they drop the effective rate then I’ll be happy about…[Read more]

Steve’s aim was to have the cashflow, so that he no longer had to work. To do this, you can’t buy properties for CG cos that defeats the purpose.

whilst you are working in a job that you don’t hate, a mixture of the two can be a workable solution. Personally, I’ve made far more money out of CG than I have out of cashflow, which was fine while I…[Read more]

Rugby, that’s exactly what I was saying. Get a high throw – and then try to hit the seals/wall at the peak, which will throw it higher still.

If you hit the wall lower/earlier in the throw, it will not go so high.[biggrin]

Cheers
Mel

Sibo, I agree with Aceyducey.

When we looked at Qbyn about 3 years ago, the agent told us that the two bedders going for $40K were $80K a few years before that.

Now some of them are up in the $160-200K mark, and I expect any fall in the market will be felt quite hard in Qbyn.

Cheers
Mel

My folks taped the show while i was in bed catching up on my sleep []

So, I watched it this morning. I think these stories do need to be aired, to warn the uninformed who are the ones likely to get burnt.

What I didn’t like about the story though, was that all of the problems became ‘the bank’s fault’. The bank should have told us not to buy,…[Read more]

Actually, just thought of another two:

Hans Jakobi
Jamie McIntyre

and maybe Rick Otton?

Cheers
Mel

Hey all

Can you help me out with Spruikers 1-4?

I’m fairly sure that No 3 is Ed Burton – he says pay only $2711 tax on $100,000.

The others don’t ring bells though?

Possible candidates:
Brad Sugars
Peter Spann

ummm, can’t think of any others off the top of my head….

Cheers
Mel

Hey Rugby

It would show Chan$ as the last poster if a. he edited a post of his, or b. he posted, but then deleted that post. Hope that answers your question, otherwise I don’t know!![bonjour]

Cheers
Mel

First IP bought mid 1993 – Waterford West 2 bed townhouse. $112K. Rent $130. Value now $125K, rent $125. D’oh. Two tier marketers.

Second IP bought same time. Canberra 2 bed townhouse. $120K. Rent $120pw. Sold to friend in October for $260K. $20K discount for friend and no agent. Was renting at $210, but should have been $250.

Cheers
Mel

Definitely agree with Elysium. Mortgage Hunter has the legislation on his site if anybody wants to check it out – for all states…

http://www.mortgagehunter.com.au

Cheers
Mel

definitely family and friends happiness (and mine too – I keep getting told to include me [])

Cheers
Mel

Hey SIS

Yep it is. Some ways are acceptable by the ATO, and some aren’t, so you’ve got to be very careful how you do it if you wish to claim the capitalised interest as a tax deduction.

Cheers
Mel

I’ve been wondering that too Bear. Arty stopped coming to visit us when his work wouldn’t let him, but I don’t know what Pinky’s excuse is…

Cheers
Mel

Kaloni, you are in an awesome situation.

I would probably look at a minimum of 20% deposit, you can avoid mortgage insurance and borrow a good amount.

Realistically, whether you buy one or many will come down to your comfort factor.

Cheers
Mel

Harbinger, did you pay the same price that it is now valued at? (This sounds like one of aussies riddles!)

I’m thinking the issue is the negative cashflow, which will be even worse while you are not renting it out, and at best you will have at least another month before a settlement on your sale could occur. First, get a tenant in!!

Second,…[Read more]

af, if you’re not happy with the place, and can sell for a good price, and can minimise any CGT, then why not sell?

Cheers
Mel

I’ve been told that some lenders won’t count your ‘guarantees’ against your servicability when looking at you for more loans…..

Cheers
Mel