Forum Replies Created
Thanks Diclem,
The direction??? Yes, they went straight to the courthouse and from there I’d imagine prison; they were charged with arson. Although I can laugh about it now, at the time I copped quite a stirring over it by my fellow workmates, as I was working for the fire service when it happened!!! [blink] The CFO gave me grief for months over that one!!! [blush2]
Hi pleong,
Having worked in the fire services for many years, I can tell you that security grilles on windows are dreaded not only by burglars but in particular firefighters. In the event of a fire, security bars/grilles can be extremely dangerous as they hinder access by emergency service personnel, not to mention become death traps in confining people within the burning building.
I would never recommend them, however as the ones you have chosen to fit are only half covering the windows, this may lessen the risk, and as such should be okay.
Nevertheless, I would opt for the alarm system, which is, as you stated cheaper anyway!! And maybe the few dollars extra could be put towards hard-wiring a smoke alarm system to boot!!
Either way….
Best wishes for your upcoming wedding!!
Cheers,
Jo
Awwwwww Sonja,
That is soooooo beautiful!!! Such a lovely story [inlove]
Glad to see I’m not the only one here with a “toy boy” [winking] YAY…We older women rock!!![medieval]
Jo
Originally posted by kay henry:Meriton has built a number of new unit blocks in south yarra- oh dear.
Oh dear, I think you’re mistaken there – No, THEY didn’t!!!
Nonetheless, Bennido has clarified it’s not new, but the real issue of concern for him is the CG in the area and his financial standing, not the age of the building. Aside from his querying the probability of some depreciation, the reason I queried the apartment’s age was because if it was new, then it would hold greater value.
Hi Rugbyfan,
I think it is a lovely shot of Jars11; it doesn’t look too glamour shot to me. Besides, the same could be said of mine, which BTW is not a glam shot either except for the corny fake background thanks to our photographer (family) friend’s creative initiative!!! [whistle] (Bless Him)!!! [wacko]
I think “wannabees” is a bit harsh; I personally sent mine in because it was the most RECENT one I had with both my hubsand and myself together (it’s a hard job getting him in front of a camera). But if it makes you happy I can ask my hubby to take a pic of me at 7.00am when I first get out of bed, without the makeup and uncombed hair, however I daresay, I don’t think I’ll do a Gatsby in my underwear if that’s okay with you. [blush2]
I think everyone (including you) looks great and if it’s what they feel happy with sending; that’s [specool]
Jo
Originally posted by bennido:I bought the apartment before I read Steve’s book so I guess I was “suckered” and went with the crowd on the -ve gearing hype. Thankfully, I have a very stable tenant thus far.
Bennido,
I don’t think Steve or anyone here would agree that you were “suckered” into the wrong way of investing. There are advantages and disadvantages on both sides of the poz/neg gearing fence.
The key is in getting to where you want to go, and judging by the fact that you have purchased in a very valuable area, and have a “stable tenant” how can all this be a bad thing?? The only way I can see it, is if you borrowed beyond your means, but then that isn’t about they type of property investing, it’s plainly about servicability!!
Furthermore, whether you hold or sell is your decision, but if you sell prior to owning the IP for at least a year, you will have to foot the full 100% CGT bill; and with all this combined, I’d imagine, property investing will not appeal in future. Think carefully before you act!!
Personally, I’d have bought the one apartment in South Yarra over numerous +CF IPs in regional / rural Vic anyday!!! Of course it would have been neg geared, anyone who thinks they can buy a +CF IP in Sth Yarra (unless they have a couple of spare hundred thousand lying about idle) is IMO dellusion!!!
On quick observation Yack; it’s too long a period.
It may seem to be attractive in comparison to what you are currently paying, but 15 years in property investing is IMHO too long (that could equate to 2 cycles).
Anything could happen….
Jo
Hi Bennido,
I was under the impression that you were “new” not the apartment. I’m curious to know, is it a new or newish apartment? South Yarra is a relatively well established area and I didn’t think that there were any “new” sites being constructed. However, times have changed, and if this is the case, and it is new(ish), then all the more reason to “hold” it for a bit longer as the area is always under great demand, and especially newer (assumingly) more modern buildings will attract a better/larger market in the future (or even the present depending on other criteria)!!
Jo
Originally posted by GreatPig:I have recently purchased 2 new IPsSo you bought them outright too (ie. no finance)? That’s right GP, no finance.
I have 5 degrees in total (2 undergrads), an Honours, Masters and the PhDIf bachelors, honours, and masters count separately, then I have three [
].
Yes they do; and yes you have three (well done)!!! [thumbsupanim]Couldn’t handle a PhD though. It’s not everyone’s cuppa tea.
I took the middle line and ended up working within my field of study (electrical engineering) Pretty good going too if you ask me!! [specool]
Having a PhD or no academic qualifications doesn’t make for a better investor, in fact, I have seen quite the opposite; I have known Professors who blew hundreds of thousands on properties because they couldn’t apply their research skills to the real world!!! [glum2]
Hotshot pleazzzzzz !!! [blush2][blush2]
Such lovely sentiment everyone, how beautiful !!! [inlove]
Aussie, you softie you!!!
Wallflower – we did well girl !!!
JetD – I’m sure you will have plenty of love to go round should you decide for one more; that’s the beauty of one’s heart, it boundaries are infinite!!! [inlove]Jo
Hi GP,
You remember correctly, I have recently purchased 2 new IPs – one in Mornington (which settles on Friday) and one in Frankston (which settles in August – can’t remember the exact date sorry). I recently sold 2 others (about a year ago, so I guess not that recent hey??). I will continue to buy, only this time my next IP #5 will unfortunately (well fortunately actually as I need the debt) require borrowing (I think my personal banker will have heart failure)!!!. [blush2] I was looking at a block of units recently for 1.5m but they sold before I had a chance to convince my husband that it would be a worthwhile venture!!! (Bugger!!!!) [bawl]
As for my PhD it is in Health Sciences; I have 5 degrees in total (2 undergrads), an Honours, Masters and the PhD. I am a registered Psychologist by profession (but if you look under “what are our occupations” thread, you will see I have listed my true calling as “a bean counter”!!!) [lmao]
Cheers,
Jo
Hi bennido,
Many may disagree with me, but what the heck!!!
My opinion: HOLD
I know the Melbourne RE market only too well at the moment, I live in it too!! [glum2] But South Yarra is an affluent area and will always be worth a bit, and in better times it will pay off.
Jo
Hi GP,
Owning everything outright I guess that puts me at the 100% equity level.
Why??? Because I started investing at 18, purchased my first home for a measely 27K and sold it (and others) for a much higher price in boom times!! Not to mention, working 2-3 jobs at times, studying like mad in between (getting my PhD) and working for myself. Now aged 41 and have been semi retired since 2002.
Cheers,
Jo
Hi Taz,
You have touched on a very “sensitive” debate here as far as property investing. That is the one of morality vs practicality (or other such terms). Many will argue that in business there is no place for emotion, hence morality or ethics play a small role (if any at all). Others will beg to differ and vehemently dispute this with their righteous claims for the protection of human decency.
I am not voting either way in this case, for I believe that at the end of the day, the decision has to come from the one involved in the transaction, and should be based on his/her views alone. Mortgagee or deceased estate sales are not opportunities to rip people off, rather they are merely a different set of circumstances that have led to the necessity of a property sale. How the purchaser goes about acquiring same, depends on (a) his/her financial capacity, and (b) mutually acceptable price exchange between him/herself and the vendor/representative. Simple!!!
Whichever way you go, as long as you are happy with your decision, who am I to act as judge and/or jury???!!
Jo
[thumbsupanim] HAPPY BIRTHDAY[thumbsupanim]
SIMON!!![sunny]Hope you have a WONDERFUL day!!![winking]
Babu88,
You are not legally bound to pay for ANY goods and/or services to which you either did not request OR were not notified of. You have the right to seek reimbursement if you have already paid these accounts.
Jo
Why would you NOT be interested in any taxation benefit??? After all, there are some that would argue that they can get back ALL their expenses as a tax deduction, which to me, would be nothing short of a bonus, wouldn’t you agree???!!! [blink]
Basically, what I am trying to say here is, whatever vehicle you use (trusts etc) don’t totally disregard the benefits available to you, no matter what guise they take on!!
What kind of fundamentals are you referring to SuperTed???
Hi Marisa/Diclem,
Having worked for a company predominantly funded by insurance companies, I understand the reasoning behind insurers raising premiums for policy holders who make repeated small claims. This is done so as a deterrant, for one of many reasons, and therefore my advice to you Marisa, is wherever possible, try and cover the small expenses yourself rather than rely on your insurer, unless you have a “no claim bonus” but even this is not a guarantee of avoiding any premium hike in the following policy period. I know and can empathize when you ask “why bother?” but maybe you should rethink this through.
Me personally, I normally prefer higher excesses, accepting that I may have to cover the “out of pocket” expense if I need to make a small claim, and prefer the SANF (sleep at night factor) of insurance cover for those really painfully “huge” expenses, such as when my IP was burnt to the ground by arsonistic tenants!!!
Cheers,
Jo
I met my (6 yrs my junior) “toy boy” husband #2 at Myers (Grace Bros to non-Victorians).
I was shopping for a xmas gift for my son, and couldn’t find the sporting section, he was one of those covert security guards (no uniform, just suit and tie, real yummy look). He was following me around the store, staring at me for the longest time and it was making me uncomfortable, when suddenly he came up and asked if I needed any help. I told him I was looking for the sports section, and he informed me he was just about to take a break from his patrol and would show me where it had been relocated to.
I thanked him, and as we were walking along he asked if I cared to join him for coffee. Normally I would have hesitated, but I was curious as to why he had been following and staring so intently at me (BTW he was still staring, only this time with more redness in his cheeks)[blush2] I really wanted to query him on his reason (as it was more than your average passing glance) so I agreed!!
His reason (words I’ll never forget):
You had the most adoreably lost look on your face I’d ever seen, and at first I thought you were a shop-lifter, which is what I was hoping for, that way I could arrest you!!! But sadly when you didn’t try and steal anything I knew that if I didn’t act quickly I’d loose you, so I decided to follow you around, even if it meant losing my job, it was like a voice was telling me not to let you go!!!
How sweet is that???!!!! [inlove] And you know….he never did stop staring!!!! [lmao]
Did I get what I hoped for??? Yes, and then some!!! [winking][winking]
Jo
P.S. Yes that’s him next to me in the members pic photo, isn’t he gorgeous???!!!!! [inlove]
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