Forum Replies Created
Thanks for the replys, I guess we haven't set such a concrete goal and I'm sure that's the best place to start, in simple terms I want them to be able to make liquid their property value and stocks, moving them into my name or a trust or any other structure so that they can receive the pension that people who saved nothing in their lives get. It's not so much about building my or their wealth as much as perhaps a short term investment that's not means tested under their name so they can stretch their assets over the next 30 years.
* If I purchased their property then they could live off the 500K the next 30 years.
* If they rented a unit I purchase then I could have them rent it (that I'd essentially make available back to them) so I can tax the property and they can claim rent assistance perhaps?
* If they were able to somehow gift a sum of cash to me (that I'd essentially make available to them) such that their means test would make them eligible for assistance in retirement
Just throwing ideas about.
If theres specific information that I can provide ask away or PM me and I'd fill in what ever I can.
I'm only new to this so I'll let Q1 go through to the keeper.
As for Q2,
I think for my money that question is not so much about the property but more about skills.If I was a brickie then a re-stumping wouldn't phase me, being a software developer I'd have to think a little harder about the situation.
I think things like:
- tiling,
- painting,
- garden work,
- building a deck,
- concrete and plaster repairs
are areas that most people could spend a little time on and make a large difference. Any job (no matter how big or small) becomes a problem when you have to pay someone else to do it. Get your hands dirty and there should be a plethora of reno opportunities that you could tackle.
My 2c.
