Forum Replies Created
I echo what Helen says.
Do your research on the net to come up with an area that will fit your criteria..
First, determine your price range. Then look at realestate.com.au to see what is available in that range. Hone in on an area that has places available, and that will rent for what you want. then research the town to see what’s there, what’s planned, population etc. etc.
then ring every agent in the town to ask them what’s happening in the town, and why they think it would be a good place to invest. If you get the same story 10 times, it must be true!
Then I would fly down/up/across there and spend at least 4 or 5 days looking at everything you can, and talking to some of the agents that you had contacted previously to see what they had.
Outline your criteria. Leave your details. If you don’t buy any on that trip, ask them to call you when they have a property that meets your criteria…
Cheers
Melagreed g7, and when one of those alternatives is the dole that seems to pay almost the same – plus the young kids don’t have to do anything for it….
One of my cousins has just turned 17, and his girlfriend (25) is expecting their second child (her THIRD). As far as I’m aware, he gets paid $600 a fortnight to stay at home! This is in a country town, where living isn’t a high cost, so he’s not bothered to go and get a job at all!!
When I was a public servant, we had a young guy take leave without pay to go and do a plumbing apprenticeship. He was back within about 2 months, as he didn’t like the pay, and he obviously had to work – unlike his desk job!!
Cheers
MelYes Gats, it was a compliment[biggrin]
I vaguely heard something about the super fit jogger dude who had a heart attack – didn’t know his name though, so I didn’t doubt that one.
I’m guessing your 1% is the boy who ate his own foot?
Cheers
MelSorry guys, I would have, but I’ve just lent mine to a friend in Wodonga (plus a whole boxload of books and tapes)…
I don’t think I’ll see it back until next year now…
Cheers
MelHey RP
What about the rest of Aus (ie Canberra and other ‘smaller’ places)? How come you had the data, and suddenly it all vanished?
Cheers
MelI looove Peter Spann and his strategies.
His was the first seminar I ever ‘attended’ (bought the video on intro as he doesn’t come to Canberra). Saw the ad in API mag I think, and initially baulked at the $98 price tag, but bit the bullet.
Since then I reckon I’ve been to just about all of his seminars (either in person or home study kit – which I think are great as you can replay in your own time). I even bought his FoxTrader (and Pro) shares software which is absolutely awesome, and helped me to buy some shares which repaid my ‘investment’ in the software well and truly (it’s a research tool NOT a ‘black box’).
Cheers
MelI did Kay – settlement tomorrow[biggrin]
The biggest cashflow drain I will ever own! But I haven’t seen any 3 bed terraces 4 sale under $850K recently, so I’m more than happy so far![specool]
Cheers
MelHey Shaun, I thought you said there were only 9 pokies?
I’d have a look at the returns pa on the pokies before deciding to sell any…
Selling them off sounds like what the government is doing – sell off the cash cow to reduce short term debt…
Cheers
MelTerry, Rolf Latham gave a talk a little while ago that I went to, and he had stories of it costing up to $60K to uncross properties – AND it took many many months to do so….. In this instance there were quite a few properties, but even lesser numbers took a lot of time, and sometimes quite a bit of money too..[baaa]
bigmark, I think you’ll find that it suits banks nicely to cross properties – and makes it harder for brokers to find new finance if you can’t then use some of the securities…
Cheers
MelI’ve got about 70% debt, but would happily increase it to 80% if only the bank would lend me some more money – but then I would probably have to get a job[confused2]..
Then I would invest in some cashflow investments (not property) and (if I had got one) quit my job![biggrin]
Cheers
MelActually Kay, there would be no marks against your name if you didn’t pay the bills – they would be against your Mum, so you could go get a homeloan straight away – or a personal loan, which is probably more likely if you are spending Mum’s credit card money[evil5]
Cheers
MelBut Cruise, if you placed a house on the ‘new’ block, and then moved into it you would be reducing the amount of CGT that is levied.
I believe you may be able to avoid it altogether in some instances – seek taxation advice…
Cheers
MelJason, I’m thinking Property A would be CGT free, as it is your PPOR… And selling only the land would presumably mean you sell for less or about the same as you bought the whole lot for anyway….
Property B I’m thinking would have CGT implications…..
Although, you might be able to claim Prop A as PPOR from purchase until (say) August 2004, and then Prop B from then on…..
It can depend on when you sign the contract to sell your (newly) vacant land – that constitutes sale date.
I would definitely be contacting a CPA to ask how is best to structure this BEFORE you sell!
Cheers
MelWestan, check out
http://www.smartsharevacations.com/
I’ve got a ‘trial’ membership for two years at $129 (‘full’ life membership is a few thousand).
Basically for a week’s holiday you pay from $US99 – $US499, and stay in pretty amazing places round the world. I think they use a lot of the ‘rich folks’ houses that are holiday houses – like in Whistler Canada. One place the guy had stayed at cost him $299 or something for the week, and he showed us the ‘normal’ advertised price of $600 or so. We thought, cool, half price, but then he said that was the NIGHTLY rate!!
Haven’t actually used them yet, but for $129, and a max of about $1000 AUS for a week somewhere, I’d probably get my money back pretty well[biggrin]
Cheers
MelI would invest $4K into about 8 rabbits, returning (conservative) $4320 after about 13 months…. then I’d have my money back, and still make about $400 per annum.[biggrin]
Cheers
Melmrsimba, with that sort of income, and living expenses being reasonably low, you could afford a better class of property that may cost you a little each week to fund it, but that will have better growth prospects than a $50K regional house…
If you haven’t already, I would look at making an offset account for your PPOR and have that $5K in savings working for you..
Cheers
MelThat’s awesome Rose. I love a happy ending…. Or is it a happy beginning?[biggrin]
Cheers
MelBarry, I think you’ll find that if you’ve got a mortgage for your property purchase, the bank will require a copy of the insurance PRIOR to giving you any money anyway.
Cheers
MelI think Julia from http://www.bantacs.com.au has a system whereby you can apportion costs/expenses in a better way legally…
Check out her site.
Cheers
Mel
