Forum Replies Created
What you reckon Celivia…..should I tell the hubby, or just keep it between us [gossip](all of us, here in the forum)!!!! ???? [laugh4][laugh4]
Awwwwwwww Gatsby!!!!
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That’s sooooo sweet!!!! [kiss]Originally posted by lifeX:Watch Godfather movies on tips to squeeze reasonable remunerations from low-lifes.
LifeX,
I like it…..influential type movies hey????[idea] [bomb] [devilish] [fear] [winking]Hi House Hunter,
Thanks for the vote….do I get prize???!!!![laugh4]
I did have a giggle; mind you not over my story; even to this day (23 years later) I still can’t find it in me to laugh about it!!!!But hey…..one learns through ones mistakes; and boy….DID I LEARN!!!!! [glum2] [book]
Cheers,
Jo
Oh suzieq [bawl] what can I say????
You poor dear; I know EXACTLY how you feel!!!![blush2]I had the tenants from hell once too. They trashed my home to the tune of $11,000 and the insurance company thought itself generous offering me a measley 2,000 but it didn’t stop there, the next night, the tenants came back for a last go, and finally torched my poor home to the ground….which really hurt (more than just my hip pocket)as it was my very first PPOR which I’d bought just weeks before my 18th birthday!!!! (Trust me, a long long long time ago!!!) [blink]
GET THEM OUT, by the book, as quickly and as amicably as possible….and BEWARE the Tenancy Tribunals [smash] they don’t like Landlords/ladies very much !!!! They are definitely in favour of the “under-dog” and by this they don’t mean you the property owner!!!! [glum2]
Keep us posted, best of luck
Jo
P.S. From then on; I never managed an IP on my own again!!!! Haven’t had any dramas like that since, thank goodness [sweaty]Rob,
Please excuse my ignorance on this matter, which of course, makes me unqualified to answer your question in any event….however……
The issue of trying to comprehend both the ethical AND the legal stand in undertaking such a project (i.e. wraps) could lend itself to some heavy debate I should imagine. As people’s views are different so too will be the way they address your question.
My personal view, as long as it is legal and you have 2 consenting parties willing to enter such agreements, I can’t see a problem. On an ethical level, well the jury isn’t out on my thoughts there.[blink]
Jo
Hi Leesa, and you too Lizzy (hey…lots o’ L’s happenin’ here!!!!!)
The type of information you are both looking for can be found, but unfortunately it is not going to be easy to find it ALL in the one place. For job prospects you may need to look at the local papers to see what’s on offer, population movements and what socioeconomic background of a town’s population, you may need something like the ABS….
There are many sources of information, it’s just a matter of sifting through different documents, legislative papers, books etc etc etc. Then there’s always the Net….search engines are good.
So too, are people…..TALK people’s ears off; ask questions of locals, ex-locals, those in the know, and those in the “I dunno” !!!![laugh4]
I mean, there is so much out there…..where does one begin????[tongue][upsidedown]
Happy hunting!!!
Jo
P.S. If you find all that info in one place, please PM, or email me…..cheers!!!![winking]Originally posted by Terryw:Did you know you get get the best of both worlds? ie rent out your PPOR, claim deductions and rent somewhere else(which would be cheaper) and still claim the PPOR CGT exemption for up to 6 years.
Absolutely!!!! That is a fantastic idea Terry, and I guess it’s really important (for any newbie reading this post) to (over)stress the CHEAPER THAN part of your sentence; that is, not much value in this exercise if whoever does this pays equal or more than what they are getting in rent for their PPOR!!
Cheers,
Jo
shocked2] Wow, you guys (and girls) have put alot of thought into your futures, and that is great to see!!!
Remember, although I asked about your 5 year plan, it is was not meant to be taken literally as FIVE years only, and as many have said, most of their plans extend beyond this time frame, as it more than likely may need to (depending on what goals you have).
To each and everyone of you…..Good luck with your ventures, and I hope you enjoy the journey along the way to where you are going!!! [sunny]
Cheers,
Jo
P.S. Don’t forget to pack a cut lunch, oh….and remember to wave to me as you pass by!!!![tongue][upsidedown]
Gatsby!!!shocked2]shocked2]shocked2]
Guess you’re just lucky we all like you so much otherwise telling “porkies” like that may have seen you fall from our (the ladies) favour!!!!!!! Just kidding, nothing wrong with a bit of fun!!!![laugh4][laugh4][laugh4]
Cheers,
Jo
Hi Greg,
Have you tried http://www.realestate.com.au or http://www.property.com.au both these sites may provide some help, as they are great real estate search engines for both those looking to buy or rent.
Cheers,
Jo
Hi avranjes,
Aside from the possible “cancer risks” which I am not arguing as fact or fiction, surely to goodness these huge structures can’t actually be APPEALLING to you????…….I mean, come on, it’s not like you’re overlooking a lovely bay view now is it???? But if you really do like them, hey, what the heck, it’s you who has to look out of the window everyday, and as for the health issues, well, don’t say you weren’t warned!!!!
As a potential renter, I’m afraid, as soon as I saw what was in front of me, I’d give your place a big miss!!!!shocked2]
Personally, I’d shop around for something with a lovely view and that made me smile when I look out, not frown and wonder “could they”????????[glum2]
Cheers,
Jo
Hi Helena,
Just a quick question, does you last child, the one turning 16 still go to school; if so, he/she may be entitled to Youth Allowance or some kind of study allowance (I only remember it as Austudy many years ago) provided he/she is still a full time student living under your care.
Take a look at Centrelink’s website, there might be something there that can help:
Cheers,
JO
Hi Scott,
No problem.
Would LOVE to see your calculator when you’re done!!! Sounds like it will be very comprehensive [book] thus IMO “awesome”!!!!!
Sadly, your calculator will be too late to help me!!!! I “had” a (not so little) CGT issue which I paid for just recently, and hopefully all deductions that could have been applied were, but who knows, maybe your calculator may show some loop-holes that my accountant missed [bawl]….in which case, I’ll go back and slap him!!!! (Just kidding!!!)
All the best, as Derek said, CGT is a complex (and IMO “ugly”) process!!![shocked]
Cheers,
Jo
Hello again Nguyen,
Firstly, the suburb snapshot should only be a guide, and not something that one should STRICTLY take as an accurate or complete picture of the suburb they are looking at.
When you select the suburb, it will give you an indication of the kind of growth (median house prices), capital growth over (I think from memory) the last 10 years and they type of occupants/percentages in the households within this area. As well as, the size of the area, the number of schools, childcare centres. It helps one to understand what sort of people live in the area (whether they be owner-occupiers/home owners, or people renting, age ranges, socioeconomic factors etc). All of this information is valuable, but SHOULD NOT be taken in isolation. You need to do a great deal of homework before you make your final decision.
As I said, use it as a GUIDE only, not as a determinating factor in your property investment decisions!!!
Talk to people, get their views, check out other rental prices in the area of interest and so on.
All the best, and please remember, the other points I (and others) have mentioned need to be considered as well.
Cheers,
Jo
Ah yes, BANKS…..[laugh4]
I used to think once that banks ALWAYS got it RIGHT!!! What rubbish!!!!
Thinking they were infalable, and because my (now ex-husband) was the State Manager for one such large corporation, I felt that they knew their stuff…..how wrong I was!!!!
The one and only time I ever got a (bridging) loan from a bank, ofcourse it (the loan) had to be secured so I handed over the title of one of my IPs….when I paid out the loan, I nearly died of shock….not only had they LOST THE TITLE but they had NO RECORD of me ever having borrowed the money!!!!! [shocked]….But oh the headaches it caused!!!! [bawl]Go figure……..[glum2]
Jo
I just realised, this is my 500th post, and of all the topics to talk/post about it had to be on the fun associated with banking!!!! [juggle]
Hi ngyugen,
All that wilandel has mentioned plus anything else that you can think of to ask about the property.
Check out the local paper in the area of the property; look at how much rents are, or try http://www.realestate.com.au and click on RENT section and see what properties are renting for in the area.
Ask the RE about its history, has it ever been rented, if so, how much for?
Have a look around, walk or drive around and see how close it is to schools, shops, transport, parks, and/or beaches. These things are important to tenants; even if they have cars, it is always good to know they can jump on a bus, tram or train, and that it’s nearby.
Talk to people who live in the area, or those who know of it, or have lived in it.
Try http://www.property.com.au and check out the free suburb snapshot, see how the area is faring as far as growth, household occupancy, no. of schools in area, area size etc etc etc.
These are just some suggestions; but the bottom line is ASK, ASK, and then ASK as much as you can.
Good luck,
Jo
Hi depreciator,
Don’t know if this will help; but I came across it some time ago when I had to try and work out what kind of $$$ I would be up for in CGT, and if was helpful to me. It does NOT offer the complete picture, but is a good starting point. Give it a go; and see what you think, plus it will tell you which calculation is best Indexation or Discounted.
http://www.cch.com.au/cgi-bin/cgt00isapi.dll/
Cheers,
Jo
Hi Scremin,
I have nothing against Pisces, he has been really nice to me, nor do I have anything against Rob (he may not believe this, but it’s true).
I am more than happy to go about my business without ANY conflict…..seriously, I just want to enjoy the forum; sharing as well as learning from all the other property investing posters here!!!
[glum2]
JoHi Nicole,
Welcome!!!!
I too, am in Melbourne.
You say you have a negatively geared property already and are managing the shortfall comfortably. Are you managing the property yourself, that is, if it is a rental property; who is collecting the money? What about all the people involved when you purchased, are they no longer in the picture (i.e. solicitor, RE agent)?
Sorry if it sounds nosey, I just thought, that since you have managed to have one property already, you were pretty much well on your way, and as such would have people working alongside associated with this neg geared property. Is that right?
Cheers,
JO
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