Forum Replies Created
Just teasing Caleb!!!! [biggrin]
You old man you!!!! [grin]Originally posted by successwithin:i was quite a buisness man when i was young..
When you were young??? [laugh4][laugh4][laugh4] And now you are……???? [blink]
Have to agree with Super Ted, Somersoft has a greater selection of topics, and the quality of responses is far more factual!!!
Jo
Well it was YOU who replied to the thread:
https://www.propertyinvesting.com/forum/topic/12852.html
in which you said it was never too late when it came to missing the boat. As you responded to Nadrob’s thread, and made a claim that it wasn’t too late; it is assumed you know of some deals that others who live in Melbourne may have overlooked. True, you didn’t comment directly, but perhaps you should READ people’s questions before answering other people’s replies, and to which your comments have no relevance!!!
Then again, if (as you said) it is just a generalised statement of “it is never too late to miss the boat” you need to rethink this adage, as it shows your age, and inexperience of life!!!
Finally, I see (as you also confirmed) you don’t have a clue on Melbourne market, and needless to say, I seriously doubt that know of any other for that matter. I know very little about SA, but what I have read/heard discussed about thus far, it seems clearly indicative that SA coastline properties are becoming quite sought after, which can only be a good thing can’t it???
I suggest you put a bit more thought into what you reply to; and maybe it will earn you the credibility and respect I feel you are seeking!!!
Jo
Chill out boy!!!
I didn’t say that SA was going to boom, but the possibility for it (or any other state) is not an impossibility, and just because certain parts of it are undervalued, doesn’t mean they will remain that way. Investing in cities is always a bonus regardless of the state; sure some will perform better than others, but all in all, cities are pretty secure for anyone wanting to invest, especially if they live in the same state!!!
As for Victoria, I suggest you read your post that implied <100K properties are possible in Melbourne; your words not mine; I said it was as likely as pigs growing wings and flying south,remember???
As for the stats, you live in SA; you tell me (I don’t care one way or another).
Jo
Gambini,
You seem to be as knowledgeable of the SA/Qld markets as you are of the Victorian ones!!!
Jo
Hi Isabelle,
Here’s two more:
Mortgage Broker
Although I agree with TerryW, you shouldn’t have too many problems simply because you are single. But if you do, try one of the MB’s here in the forum; they are a great bunch and will certainly steer you in the right direction.
Cheers, [biggrin]
Jo
Correct TerryW!!!
The fact that Misty is living it in will not attract a CGT, however the fact that she is renting out part of it does, therefore the 6 years exemption would not apply.
Cheers,
Jo
Domo,
Take a look at http://www.reports.rpdata.com.au and select the state, then suburb of your choice. It’s not a comprehensive graph, but it does have some valuable info.
Cheers, [biggrin]
Jo
No problem emc,
Remember once you’ve picked an area with SA that sounds like it might be worthwhile, do some research on it and see what population decline/growth stats, infrastructure info etc you can find. Try the local councils for some of this info.
A few good sites to start with include http://www.reports.rpdata.com.au or http://www.domain.com.au (suburb snaptshot) and from there look at http://www.realestate.com.au to see what sales prices and rental prices are being marketed for.
All the best, [biggrin]
Jo
No problem Domo,
I didn’t believe for a minute you don’t like kids; I just realised that your (well meaning) friends didn’t advise you of the possible legal implications of discrimination associated with this kind of practice.
Cheers, [biggrin]
Jo
Domo,
You can discriminate against pets, but don’t even try to make it look like you are discriminating against children otherwise you could be have legal battles on your hands!!!
Pets is one thing, but children an entirely different ball game. NEVER EVER EVER advertise NO KIDS; even if potential tenants don’t have them; they won’t come near you!!! What if a couple read it, and then the guy thought “what if my wife gets pregnant?; no I’ll give it a miss!!!”
Don’t go there!!!!
Jo
P.S. If you are adamant about “no kids” just screen applicants without letting on. That is, if they turn up with kids, or you find out they have them, then note it in the back of your mind; but for heaven’s sake don’t publicise it!!!
Yes Gambini,
I’m still here, and yes, you can claim wear and tear (depreciation); I didn’t say you couldn’t. Misty ask whether CGT applied, and that is the only part I concentrated on.
Jo
False Misty,
You will pay CGT but it will be apportioned accordingly because you were living there and claiming it partly as your PPOR. However, as with any home/PPOR, regardless of this fact, because the property is used to generate income, you will be taxed accordingly (hence CGT applies).
Jo
Originally posted by Gambini:I find it suprising that a Qlds investor would be looking at adelaide since the qlds market grew more than any other over the past year
Why surprising???[blink] It is called diversity. Any smart investor will tell you, it can prove very profitable to invest in undervalued areas which have yet to experience their boom, than in ones which have already done so, and that have possibly peaked!!! To my understanding, I believe this is what Steve did with properties in country Victoria!!!
Originally posted by Gambini:YOU CAN NEVER MISS THE BOAT
Someone who also read steve mcnights book said it was shit . Why because they said it was pre boom so i said well if its now post boom than you must look at it as pre boom again
HAPPY HUNTINGGambini,
You know the Melbourne market do you???[blink]
I never said Steve’s book was good or bad; personally I cannot comment on it either way because I haven’t read it; nor would I knock it simply because it refers to +CF property investing, which has its merits!!!
HOWEVER….if you believe that Nadrob is able to purchase a “good” investment property in Melbourne (or Victoria for that matter) for less the 100K; then maybe you could point me in the same direction, to the area in question, and I MYSELF will invest there!!!
I know and LIVE in Melbourne, and it is NOT possible, certainly not within a 150km radius(at least) of the CBD!!!
Jo
Hi fjficm,
How are you???? Long time no hear/read!!!! [biggrin]
Seriously, I’d do a bit of research into rental properties with pools. I think many people feel apprehensive about buying investment properties which have pools in them because of the possible dangers (ie. drownings).
However if you have adequate public liability cover, it is fenced according to regulations, and all measure have been taken to ensure people’s safety; I can’t see what the harm is!!! But as I said, some people MAY choose a property WITHOUT a pool over one WITH simply because of fear.
Personally, I would remove it, just to avoid the unnecessary headaches; but that’s just me. I bought an IP years back which had a 6 person outdoor spa, I took it out, and had it re-installed into my own backyard, under the pergola as part of the outdoor entertainment area, and it has become a real centre/show piece; everyone comments on it!!!! Maybe you could use the pool yourself, or alternatively sell it off and make a few extra dollars that you can put back into the IP!!!
Nonetheless, Qwerty also made a very good point, maybe you could write it off in your depreciation schedule.
Cheers,
Jo
Caleb,
Property will always be around, but the opportunity to kick around the soccer ball with your current friends may not be!!! Put yourself in your friends shoes, they care about you, and want you to be a part of their lives; and that life is about having fun!!! If you ignore their calls to go out, they may not call as often, and eventually you could lose them altogether!!!
Read about real estate all you want, but don’t forget your friends; they are an important part of your life!!!
All the best,
Jo
Hey Nadrob,
Sorry to be the bearer of bad tidings [blush2] but your chances of finding a good investment property anywhere in Melbourne for under 100K is as possible as pigs growing wings and flying south!!!
If you manage to find ANYTHING remotely worth buying in Victoria, it will more than likely be in a rural country town, somewhere out the back of bourke; miles from nowhere!!! And you certainly won’t be paying less than 100K for it!!!
Properties <100K still do exist, but not in Vic, however for properties as stated above, although you will need to look interstate, many will be in remote rural country (mining) towns.
Jo
No problem Domo,
Always (as are most people here) happy to help.
Let me give you an example (I should have done this earlier).
I bought a place not long ago; a 60’s style house, very run-of-the mill type that you would expect some little old lady with blue rinsed hair to step out of. Except for the manincured garden with its beautiful floral arrangements, the house was pretty much as all the others in the street; simple, solid, but moreover just “average”. HOWEVER, when you stepped INSIDE that was another story!!!
The whole house had been gutted, with a total kitchen reno (euro stainless steel appliances, dishwasher, sensor lights, high gloss cabinets with glass panel doors with lights inside the cupboards…very swish!!!) The bathroom likewise housing a full spa, latest trendy tapware, double shower; the lounge/family area had a gorgeous open fire place with rendered mantel-piece; throughout the house were polished floor boards that you could see your reflection in!!! You with me??? Basically the whole house looked like a display home showcase!!!
The bottom line was, I had people offer me more than the rent I was asking, one couple even offered $50 p/w more (but alas, I had agreed to sign it over to another applicant!!!)
Tenants want COMFORT (heating, cooling, carpets), CLEANLINESS, NICE is good (which is what mine was), but PRACTICALITY is BETTER!!! If your 2 bedder unit has for example 2 living areas, open fire place, polished floors, lots of storage, brand new/updated kitchen appliances, modern/update bathroom, LUG with say remote control (instead of manually opening garage door) it stacks up to attracting potential tenants. The way I look at it, ask yourself, “would I or is it nice enough for me to live in it???” and if you can answer honestly “yes” then you should be pretty right!!!! You see where I am going???
Finally, yes people live INSIDE and that is what matters, at the end of the day, the exterior, albeit may have street appeal, it won’t keep them dry and/or warm when it rains!!!
I know this is pretty long winded, but I hope it helps!!!
Jo
