Forum Replies Created
- Originally posted by Mary Poppins:
I suggest you try Monopoly if you want to play the field. She must be interested as she just posted.
Excuse me?????? Am I missing something here????; what because I posted a note (in jest re posts to Wallflower) I am “interested”, and in who??? And have you read my profile???? I AM “HAPPILY MARRIED”
But thanks anyway, nice of you to put me on offer Mary, is it okay for me to return the favour to other posters of you???? [lmao]Jo
Hi Newgen,
Yep, guess we’ll be seeing alot more of that around at the moment; auction clearance rates are down, well in Melbourne anyway!!!. I’ve been to a few auctions of late, that have gotten a single bid (apart from the vendors bids that is). As for that poor owner of the place in Adelaide, yes well……definitely didn’t do his/her homework [bawl]
Jo
Wow…..a real life forum romance; oh Wallflower, how romantic!!!!!!!!!! LOL [inlove]
Hi Misty1,
Sorry I am not being real helpful with this question for you, but the answer is really a matter of what YOU want to do.
If you would prefer to reduce your interest on PPOR LOC (and on 50K that may save you an approx. $300 per month) it is certainly a sensible option…….HOWEVER, so would purchasing a cheap property with good (say 10%) rental yield. BUT….it depends on whether you really want to spend the money on a cheaper +CF property (bearing in mind, the additional costs associated with IPs, thereby reducing your net return). Also bear in mind, the type of “cheap” property you are looking at; does it have good CG potential, the town’s population (size), amenities, condition of property (does it need alot of work), vacancy rates and so on.
What would I do….ME PERSONALLY, I would reduce the interest on my LOC; $300 per month saving is damn good.
But hey, as I said, it is really a matter of what suits YOU.
Cheers,
Jo
Hi Misty1,
You can get to your profile in several ways; one of which, is to simply click on your username “Misty1” and it will take you straight into it.
Cheers,
Jo
Hi Gatsby,
Either way is fine; depends on whether you want the “pleasure” of telling her to her face that her services are no longer required, or you can ask your new (once selected) PM to organise the handing over of keys, info etc relating to the property from “ex” PM.
Been there before!!! Good luck with your new PM; hopefully he or she will do a better job than the last (put it this way, they couldn’t do any worse, right?????) [blink]
Jo
Misty1,
If you go into your profile page, which shows you a list of the current threads, there is a link that says Find all the non-archived posts by Misty1 (located under the number of posts you have made) which will show ALL your threads.
Cheers,
Jo
Hi Misty1,
That’s a toughie!!!
It really is a matter of personal choice. But certainly one major fact which requires consideration before making a decision either way, is exactly HOW MUCH money and/or HOW CHEAP a price are you referring to????Jo
Hi PG,
Thanks for adding me to the PI family album.
Cheers, [biggrin]
Jo
Originally posted by kay henry:When me and my then partner bought our second unit, we looked at it and said “awwww- purple bath!” and bought it
The fact that it was a really good buy helped
What’s wrong with a purple bath???? [confused] Good on you Kay; I just wish I could find one (new or old)….yeah I know you’re probably thinking I’m nuts to want a purple bath; but it’s my favourite colour!!! [biggrin]Jo
Sorry Stu,
didn’t realise you were a financial advisor (as Derek informs me)….derrr; the topics should have spelt it out to me, but I guess I just glossed over them!!! [blush2][blush2]
In that case….I would love to know more about the value of fixed vs variable rates and/or a mixture of both; which do you recommend and why.
Cheers,
Jo
Hi Stu,
My (least) favourite topic re property investing is Capital Gains Tax (brrrrrr [earmuffs][fear]just makes me shudder thinking about it!!!!!!).
I have been hit with a hefty CGT bill (77K to be exact) and although it is not pleasant, I understand the reasons for (and against) it. I believe that many investors, really don’t have a proper handle on how it works, and as such will often ask “how can I avoid (or deferr) paying CGT?” Either way, there is info available through the ATO website, but it is soooooo involved, it’s enough to make anyone disconnect immediately!!!![blink]
I think an article with some “basics” on CGT, just enough to inform those that with little or no knowledge of its fundamentals would be very constructive, and draw in readers.
Good luck, and happy writing!!![computer]
Jo
Hi Sizzling_duck,
That’s right, which is why she will need to SELL her current PPOR, otherwise, you’re right, it will be an IP; making it income (rent) and asset tested by Centrelink.
I suggested she use the equity (i.e. sell it) and buy her retirement unit, and distribute remaining funds elsewhere, in planning for her later years.
Cheers,
Jo
Hi Wrogers,
Firstly, your mother’s home, which is obviously her PPOR is not subject to asset testing, as it is where she lives. It is a different matter, however, as far as the 140,000 in shares/cash. You will need to check with Centrelink, however, I believe the asset limit is 125,000 for those seeking unemployment, but for aged pensioners it may be a bit higher….give them a call.
If it is the same (say 125K) perhaps she could spend 15,000 as the deposit for her retirement unit, and still be within the asset limit. Thus no risk loosing her pension.If she uses all the equity in her home to buy the unit, she will have money left over, some of which she can distribute elsewhere, but these options need careful consideration, and I suggest that she/you seek professional financial advice which addresses her financial situation in later years (with minimal risks).
All the best,
Jo
Hi Marisa,
There will be many out in this forum-land that will disagree with me, advocating that property investing is a business, in which the heart should not play a role.
BUT………for what it’s worth; whenever I am going through a property with the view to purchasing, I always ask myself the same question “would I live in it (here) myself?” if the answer is no; I don’t buy it. I see myself as an extremely fussy (and house-proud) type and if it is not to my liking, then I would imagine the kind of tenants it may attract would be equally so. [hmm]
Okay, all you practical, down-to-earth, “investing is a business” types……give it your best shot; go on, slap my wrists and tell me I’m a bad girl !!!! [whip]
Mummmmmmmy !!!!
Jo
[blush2][blush2][blush2]
Must have been a “doosie” of a question, CENSORED by the moderators??????? LOL
Better luck next time lambsie!!!
Jo
Originally posted by Derek:PS Jo – Rents need to be at market rate to ensure deductibility of expenses. Under the circumstances outlines (no debt – any claims would be confined to rates, land taxes and insurance and I am supposing the parents pay these in return for free board)
Yes ofcourse [blush2]; I didn’t even think of that!!!! Thanks for pointing that out Derek…[biggrin]…a very valid and important factor; and yes no doubt the parents are probably chipping in for the costs mentioned.
Cheers,
Jo
Get outta da forum and hit them books!!!!![biggrin]
Just kidding Jaffasoft!!!!
Discipline, discipline, discipline………I believe it has been mentioned already, but can’t be emphasised enough.
I obtained one of (2) undergrad degrees, and one post grad degree via distance ed, as I had commenced studies whilst living interstate for a while, before returning to Melbourne, because I wanted to stick with the same Uni.
I have friends who did their PhD’s at the same time as I did, only they did theirs by distance ed; so it can be done.
Good luck, happy studying, and you’ll do just fine!!!!
Jo
Hi Cars_SW1012,
I can’t comment on commercial investment properties, however I can tell you (with 99% confidence) that for RESIDENTAL investments it CANNOT be deferred, or avoided.
I should know, I have a $%@#@#% HUGE CGT bill to prove it!!!!![whip][bawl]
For more info check ATO website; it makes for fun reading (not) !!!!
Jo
Hi Marisa,
We purchased an IP in Mornington (Victoria) last month; still awaiting settlement. It may not be everyone’s idea of a HOT spot, thus property, but I believe Frankston (neigbouring suburb) is in the throw’s of a huge popularity boom with Melbournians opting for a “sea change”. Furthermore, I read recently that Mornington along with other surrounding districts would benefit from the renewed interest in these increasingly favourable bayside areas.
Oh well, here’s hoping anyway!!!!
Jo
The fact that it was a really good buy helped 
