Forum Replies Created
Have you tried looking at local council web sites? they usually have information on population services etc.
Melinda
Good on you for taking the brave step!
Have you thought about moving out of your house (expensive mortgage) into one of the worse returning properties, or a property that needs renovation? If you move into a property that needs renovation at least you are on site to improve it, remembering that it is an investment and don’t spend too much money on it or ‘tinker’ The interest on your ‘owner’ property will become tax deductible because it would turn into an investment property; I would imagine you would get a reasonable amount of rent for the property? That should then free up some of your cash flow?
Just a suggestion!
Melinda
Hi Tanya
my advice is don’t mess with the ATO! The best thing for you to do is talk to your accountant in the first instance, who will provide the level of advice you require.
As far as agent fees to sell, they will charge for signage, advertising, internet listing, brochures etc, and GST on the commission unless you get it written into your contract the amount payable includes the GST. You will have to pay a conveyancer/solicitor depending on where your property is for organising the settlement and they will charge search fees (just like when you purchase) and if you are discharging a mortgage there will be other fees charged by LTO and your bank! And then if you are lucky there may be some left for you! Bit depressing really when you get right down to it – but hay it’s a good learning experience.
Melinda
Hi Berger1
I would recommend you read Steve’s second book which explains that you can’t buy cf+ they are created.
It also depends on where you are looking – capital cities are great for properties and tenants but they way things are currently, the returns are not anywhere near being cash flow positive. You may need to do some more learning, and/or get into an investing network which gives you the opportunity to gain information from likeminded people!Good luck with your investments
Melinda
Hi
I would try the REI website in WA – http://www.reiwa.com.au/content-home.cfm they may have a section on your rights, otherwise if you have a rental tribunal they may have a website where you can access information.
Good Luck!
Melinda
Hi
I think people get different things out of seminars that you can’t get from books, meeting and sparking off like minded people. People draw together because of common interests. Being around people who are negative about your goals can sap your motivation to achieve, being in a room full of people who share your vision/direction is revitalising.What did I learn? – there is a way around the glass ceiling of borrowing – I just need to rejig my structure.
I would also challenge your friend to buy a book for under $10 that has some value!
Melc
Melinda
Hi
I was there too, Great seminar. I flew back to Adelaide this morning. Woke at 2-30 this morning my mind spinning with information overload. I got up and wrote some strategies down and broad brush stroke plans which need to be reworked.
Melc
Melinda
Hi
there was a story in API from some people who did that in SA. This website http://www.dalbyremovalhomes.com.au/relocating.htm also has great informatin on what is required as far as permits, finance etc.
Good Luck with your venture
Melc
Melinda
My partner and I started investing in 2001. We each had one house. Since then we have purchased 8 houses – 6 in Queensland and another 2 here in SA. I stumbled on Steve’s 0-130 while browsing in a bookstore (my partner was buying a book – some rock band called Rolling Stones) We are currently stalled but all is not lost, I will be attending the seminar in Melbourne in March.
This past year has been busy –
After three years I have finished my first year of uni. My GPA is high enough to be on the Dean’s Merit List
My son graduated from Primary School and will be venturing into the great unknown of high school.
My younger son (9) has decided to live with his dad full time and spend every other weekend with us. Absolutely broke my heart, but I feel he has to have some say over what he does. I have encouraged both to think and do for themselves – didn’t expect this one though.
My older son thinks he’s nuts but reckons he will be on a good wicket here with being the only child at home.
We have attended my partner’s daughter’s birthday parties 18 and 21 – yes expensive as one is born the day before the other.
We have further developed and built on our relationship to a stage where we both understand each other and smile and laugh alot. (It has been hard won).
Next year
I hope my son changes his mind and realises the grass is not always greener.
Continue our investment property acquisitions. Our original goal was 10 in ten years so will have to set new goals.
Attend the seminar and meet likeminded people and get new ideas.
Continue my education both in the halls of academia and life!
Laugh alot and maintain my networks of friends.
Have a fabulous festive season and I hope to meet some of you in Melbourne.
[cap]
Melinda
