Hi Rakky,

A few questions first, if I may:

1. Is the IP the only property you own???
2. How long has it been a rental property???

That is, if it is (ie. you are currently renting where you live) you will be exempt from CGT for up to 6 years, but you must not have purchased another PPOR within that time.

You are correct, if you sell the IP (notwithstanding the conditions above) you will pay CGT but only for the period in which the property generated income (rent).

Cheers,

Jo

Hi Bennido,

You might like to move your link into a new thread and/or ask Kay if she might consider editing her thread title to reflect your addition, otherwise it runs the risk of getting lost. As it is also an interesting article, you don’t want it overlooked by people simply because they may not be aware that is contained within Kay’s SA article. Just a thought!!!

Cheers,

Jo

Hi Colio,

Firstly, I have to apologise as I did not read your post at length as it read like another plug for Richmastery, which BTW I do not have an issue with that; I just figured it was you going (as you say) into “bat” for them and left it at that!!!

I periodically receive a newsletter from Richmastery with their “hot deals” but sadly (or maybe in some people’s view, luckily) many of the deals are not in Victoria. Had they been; I may well have investigated these “deals” further. But as it stands, I just glance over them.

Their deals appear very CF+ and certainly worth a second thought, but without doing more homework I tend to treat them (the company) as another group of “buyer agents” who charge a fee for finding these deals.

I feel that investors “should” do their own homework, and not only save themselves money, but gain invaluable experience. However (as you pointed out) time is a real factor, and sometimes, it may mean that buyer advocates (although they may be costly) can save you big $$$ in the end.

At the end of the day; if you are happy, who am I to tell you you’re wrong???

Cheers,

Jo

Hello again Glen,

Although I have not read Steve’s book (boo shame I hear you say!!!) I do believe he cleaned out Ballarat and Geelong of (pretty much) all it’s +CF properties; he played it very smart our Steve!!!

As many here have said, yes there are still such properties but they will be further out, maybe even as far out as you referred i.e. NZ which has many +CF properties (if you don’t mind investing o/s). NZ is a lovely place, so I don’t see this as a bad thing at all, and definitely worth considering!!!

It is also a good idea to talk to REAs and develop a rapport with them; if they know you are looking, they will keep you in mind. To give you, but one example, I got a call from an REA in Ouyen who has/had (not sure if still available) a house for 35K renting for $70 p/w; only problem is Ouyen’s population is declining steadily, although the REA assured me it was on the increase!!!

Anyway, I think you are doing the right thing, and sooner or later, your research will lead you to the right one for you. Happy hunting….

Cheers,

Jo

That’s the spirit Glen!!!!

As long as you are willing to put in the “hard yards” do your due diligence, I think you will do fine; it may take a bit of time, but doing your homework will ensure that you have thoroughly checked out your options before signing on the dotted line!!!

As for the “+CF” or “11 second” type question, oh yeah, that gets asked all the time, probably on a weekly basis!!!

Cheers,

Jo

Hi Alf,

Call me optimistic (or maybe just “old school”) but IMO property will ALWAYS grow, perhaps not in the short term, and true, it may have NIL growth for a while, but in the long term, it is bound to see an upward climb.

The real issue for most people is “time”; how long will it take to recoupe their money, and even more to the point, when it actually gives something back???

For me (as with many others) property is a LONG TERM investment, but if it is costing you too much, and by this, I mean not just in $$$ terms (but stress/anxiety) then YOU have to decide for yourself whether it is worth it.

Cheers,

Jo

Hi Timan,

Although I agree with many of the posts here, I tend to agree moreso with Richmond; drop the rent.

By all means, discuss the feedback following inspections with your PM, and of course review the advertising campaign – this may all that is needed to find out what is not working. But at the end of the day, everyone loves a bargain, and as Richmond pointed out; better 10 dollars a week less and tenanted than empty for months!!!

Good luck,

Jo

[whistle] Female, married, and no “member” to speak of!!!!! [laugh4][laugh4][laugh4]

Hi Amber,

Welcome to the forum!!!

Firstly, try http://www.realestate.com.au and select up to 200K as your max, then see where and what is on offer. When you find something you like, delve a bit deeper, search the net, pick up the phone and call the REAs, try http://www.domain.com.au or http://www.reports.rpdata.com.au and check out the suburb snapshot / area report to see what population size is like, trends, median price ranges, household occupancy etc. Surf the net, naming the area you are interested in and see what you can find, try local council sites and so on.

You will quickly find, that most investors on here do their homework, and finding the right IP for YOU depends on what you want, where you hope to buy and above all…DOING YOUR OWN HOMEWORK.

It is hard for people here to say buy “here” or “there” because the choice HAS TO BE yours ultimately. Plus it depends on whether you want +CF properties (where you get money in your pocket) above say -CF (or negative geared) properties (where you have to cough up out of your own pocket). Many areas have good CG (capital growth) but also many of these areas are negative geared properties and require you to put in money. You need to establish what is more important to you. By all means, when you have identified a few areas, you can always ASK “hey what do people think of XYZ”???

Good luck,

Jo

Hi Acey, [medieval]

Thank you for the link; it outlines banking institution selection, comparison and change processes clearly and simply. [thumbsupanim]

Cheers,

Jo