Forum Replies Created
IMO Richmond
DON’T SELL
Not just because of the Mitcham-Frankston freeway, but because of the two new marinas going in, one at Frankston and one at Safety Beach.
PM me if you like, I’ll discuss it with you off air!!! [laugh4]
Jo
Yack, you kill me !!!! [laugh4][laugh4]
I keep telling you, you’ve done well…..it’s time to SHOP BOY !!!!! [lmao][lmao]
Jo [tongue]
Absolutely Baloo!!!!
I couldn’t agree more. Yes the media and all its hype, regardless of how you view it, has been a major contributor in influencing the herds. People believe what they read, whether it is fact or fiction, and as such, what is written and/or broadcast becomes “gospel” to many. I am not knocking the media, I am just highlighting their effectiveness; after all BS sells doesn’t it????
Jo
Hi Westan,
IMO……
Fear, uncertainty, speculation, and a whole lot of EXAGGERATION otherwise known as Media “HYPE”!!!
Nothing to be too concerned with, for some it is the Henny Penny syndrome, but for the market savvy investor, it is a time for bargain basement shopping!!!!
Seriously, it is just a levelling out (cooling down) of the market, which is always pereceived as good for some, and not so, for others.
Cheers,
Jo
Gotta run; don’t wanna miss those clearance sales!!!! [laugh4][laugh4][laugh4]
Hi Pumpkin,
Capital Gains Tax is calculated at the full 100% rate should you sell your IP BEFORE the 12 month anniversary (as per contract of sale date) of having purchased it (regardless of whether it is a unit/house/shares/boat etc). If you sell after owning it 12 months and one day, the CGT will be halfed (50%) of all your profit proceeds from the sale. All your expenses incurred on the property are deductible, ie. stamp duty when you purchased it, commissions paid upon sale, advertising for sale purposes etc etc etc.
Hope that helps,
Jo
Yeah sure, why not contribute to the already escalatinng childhood obesity epidemic!!![glum2] [blush2] Just kidding folks, I know my daughter would jump at the mere whiff of a hefty feast at maccas!!! [wacko]
Here’s a more lasting alternative: $600 would get them an awesome new bike, keep them fit, happy and healthy (all at the same time)!!! AND with school holidays upon us…..it would help to keep them entertained outside, and out from under your feet..YAY!!! [thumbsupanim]
Cheers,
Jo
P.S. FYI – “Supersize” is not available in Oz and has recently been abolished by McDonald’s in the US due to the current world obesity crisis; sorry kids!!!! [glum2]Brahms I am not going to “tisk tisk” your use of the word “stupid”. On the contrary, much to the dismay of some, BUT…..unfortunately, I do not see this person as a “victim” per se. If one does not do their homework, IMO they cannot justifably call themselves a victim of someone else’s wrong doing, but rather they are a victim of their own ignorance.
And perhaps the most unfortunate part of all, especially in this instance, is that ignorance is often accompanied by stupidity!!
No offense intended to anyone, just giving my opinion.
Jo
Hi LifeX,
How’s “you could get burnt” for starters????? [blink]
I used to be a soft landlady, but after having one of my IPs trashed to the tune of 11K (insurance co. only willing to cover me for 2) and THEN shocked2]….the next night to have it torched to the ground!!!! [bawl]….trust me, I hardened up pretty damn quick!!!! [glum2]
All that aside, that doesn’t mean that NOW I am nessarily “hard” more fair I’d say, but one thing is for certain, I NEVER mix business with pleasure, not in this game…(for me anyway) experience has been my greatest teacher!!!! (Well, next to my mum anyway!!!) [blush2]
Cheers,
Jo
Hi Dom,
Depreciation reasons I guess, which is why so many others made mention of the post 1985 date.
Jo
P.S. Personally, if I think it’s a good deal, and it does not fall into that category, I don’t just dismiss it. Ultimately it’s what you see appropriate to your needs.
Originally posted by SALACIOUS:melbear,
Its 21, does that count?
Dom[biggrin]Hey Salicious/Dom,
Did you say it (the building) was 21 years old?
I am confused; you said you weren’t sure when it was built but then said something about 21, are you referring to it’s age by that figure (in reply to Melbear’s question)?? [blink]Regardless though, (on the face of it) sounds like a good investment opportunity, but can’t comment accurately without more info; ie. location, amenities, etc.[thumbsupanim]
Cheers,
Jo
Nah [blush2] but that’s cool.
Seriously Melbear, I was just kidding round; the need for a tradie (a sparky) was ages ago…..HECK, I’d have been fried to a crisp by now if I was still waiting for someone to check out the electrical wiring in this place!!! Luckily we stumbled across an old friend who offered to take a look!!! So there you have it………
BIG ANNOUNCEMENT…….
THE TRADIE FINALLY TURNED UP!!!!![laugh4][laugh4][laugh4]
Jo[tongue]Originally posted by melbear:I agree with Sue, don’t marry them! Even giving birth to them doesn’t help much – my Mum waits months and months for my brother to do stuff. It’s only when she’s really got the sh*ts and is about to call someone to pay them handsomely that he figures he’d better do it!!
Okay so marrying one is out??? That’s cool, didn’t think my hubby would appreciate that idea anyways!!!! Sleeping with one???? Hmmmmmm, nope don’t think he’ll take too kindly to that either!!!!! [laugh4][laugh4]
Cultivate friendships, invite them round for dinner, and get them to fix the problem beforehand[biggrin]. If it’s an IP, same deal, just take them by the hand and drive them to the IP BEFORE dinner!![lmao]
Again, I think I better get hubby to do this; it may not been seen favourably (if you get my drift!!!) [blush2][blush2]
Hey Monopoly, we finally got a carpenter to turn up today – but he won’t be able to do anything for us for at least 3 weeks!! At least he turned up to quote though[king]
Heck, at least he turned up!!!!! Pace yourself Mel…..first things first, baby steps!!!!
BTW…..did I mention “the tradie stil hasn’t turned up”?????? [laugh4][laugh4]
Misty1,
Positive geared IMO is quite simply, when after paying out ALL EXPENSES (i.e. rates, loan repayments, insurances, etc etc etc…and there can be heaps of etcs!!!) you have money LEFT OVER!!!
Negative geared is when you are having to dip into your pocket to meet all associated costs in having that property.
The level of rental yield is IRRELEVANT; whether you make 1% or 10% (after all expenses are deducted) a PROFIT is a PROFIT regardless!!!
Cheers,
Jo
Originally posted by Misty1:Thanx. I think i’d best check my insurances cover all those things.It seems the nver ending list of things we need to buy,insure against,repair,& maintain just gets bigger,& bigger with every purchase…I’m feeling like i’m losing focus on why i’m doing this in the first place.The big question continually looms: “When do we reap the rewards??”
Cheer up Misty1 [glum2]
Don’t get disheartened it’s not ALL that BAD!!! Sure, you have to dot all your “i’s and cross more than a few “t’s – but it does pay off in the end (eventually!!!) Don’t be mistaken however into thinking that property investing is a short term “get rich quick” scheme, sorry to say, that ain’t necessarily (at least not in MOST cases) so!!! You gotta spend money, to make money; and insurance in the RE game is a definite MUST !!!!
Cheers,
Jo
My mum [inlove]
[bawl] Pity she’s been gone 9 years today [bawl]She was definitely the most “effective” guru I ever met!!!! She taught me EVERYTHING I know about RE, and spent years brainwashing me into believing that the most solid (long term) investments are simple “bricks and mortar”!!!!
Thanks mum, you were soooooo right [thumbsupanim]
Jo
Hi Alf,
Yes Wantirna is exactly 23k east of Melbourne, a nice suburb (not sure of size) and the price of rental yields there are reasonable; ranging from 220 p/w up.
I’d recommend http://www.property.com.au and check out the suburb snapshot that used to provide very detailed stats and info, but apparently this is no longer available since http://www.realestate.com.au took them over and got rid of this function. But you could try http://www.domain.com.au; last time I looked they still offered a free suburb snapshot. Otherwise you may just have to do a general search on the net for more info.
Cheers,
Jo
Hey Gatsby,
Great chatting to you; look forward to another long yarn sometime soon. [winking] Enjoy Qld, don’t forget the “slip, slop, slap” [sunny]don’t want you coming back all toastie!!! [whip] ouch!!!
Cheers, [tongue]
Jo
[sweaty] relief!!!!
Thanks GP,
I was beginning to think I had it all wrong!!!
Glad it all worked out for the best, for both of you actually.
Cheers, [sunny]
Jo
Thanks for the ISTM explanation….I like that, may use it (nice and easy) [rolleyesanim]
Anyway, about the sale falling through on you….THAT’S AWFUL!!!! [glum2] But I am curious though, surely once contracts are signed by both parties, and money is paid over, the sale would have to go through as a legally binding deal???? [book]
Sorry GP, I am really confused, [blink]can you please clarify how this was permissible???? I always understood it, that once a contract of sale was signed, and “cooling off” periods had lapsed, that the sale HAD TO go through.
Have I been wrongly informed????? I would hate that to happen to me, or to anyone for that matter. Did you get your money back, including all costs (ie legals etc)?????
Jo
Hi GP,
In answer to your question re business travel expenses and so on; as I said, I am not disputing the validity in making claims when travelling around town looking for an IP, which is why I think further investigation into the feasibility in doing so would be highly recommended.
As for the bit about, such expenses as lawyers fees, building inspections etc etc etc being claimed, of course they can be; you have a “contract of sale” to prove that you are in the process of buying the property to which these expenses are incurred. Should the sale fall through as you have suggested, I am not really sure, because this has never happened to me or anyone I know (although I am sure it does).
That’s why I think a tax guru in the forum may be able to shed some light, for both of us!! [book]
BTW….could you please tell me what ISTM stands for???? That’s a newie to me!!! [blink]
Many thanks,
Jo
