Forum Replies Created
Kay,
Thanks for that link; had a quick glance; will go back and re-read it thoroughly later. However, I especially liked the last paragraph (I think) that stated that spousal maintenance orders could be submitted after a divorce, but (as I understood it) within 12 months of divorce, and I am ASSUMING after this time; they (the ex’s) have Buckley????
Gatsby,
WOW…2 very different stories, and both very sad. Separation and divorce is never pretty. I have heard so many…..as a registered Psychologist, I ran my own practice for many years, in which time…..I heard some pretty gruelling stories that would make your hair curl !!!!
Divorce is ugly, and unfortunately not too many people escape its wrath, whether it is through financial or emotional loss. The saddest part of all, is the effect it has on the little ones, who suffer the most.
Thanks for your thoughts; there have been some very interesting points raised.
Jo
Hi Kay,
No nothing like that, I got burnt by PPM – Poor Property Management, not once but several times. There was a great deal of “oh you’re from Melbourne…hmmmmm???” (not actually voiced) type of attitude. Researched PMs from different RE agencies, asked locals, friends & family for recommendations and (just bad luck really) couldn’t find a PM that would actually do the job he/she was paid to do.
I know, I could’ve jumped up and down more, but I got soooooo sick of it, especially when things would go wrong constantly. I’d authorise repairs/maintenance to be carried out and then if and/when I’d fly out to do a personal inspection, I’d find that the work had not been done (yet the money had been deducted from the rent)!!!! I have been in more legal disputes because of PMs (not tenants so much) than I care to mention!!! In the end, I got so fed up, I sold the IPs, and decided to stick with my own home state….that way, at very worst, I could do the managing myself, without having to rely on incompetent and/or deceitful agents.
I would never discourage anyone from investing interstate or overseas; although I urge them to be cautious and diligent in the choices they make and the people they appoint as PMs. Possibly one day, when the bitter taste has subsided, I MAY reconsider, but for now…..I will keep my IPs close; where I can SEE first hand what is going on.
I don’t mind risk, but after past experiences, I am more in favour of having total control; thus minimising the risks!!!
Jo
Hey qwerty,
Thanks…glad to see you didn’t take offense to my comment…it was by no means aimed AT you.
As for that “duty of care” I am not doubting your word; I just can’t bring myself to believe that any court of law could hold an ex-spouse responsible for another, especially when taking into consideration the circumstances which brought about the separation in the first place.
Oh well….I’ll cross that bridge IF I am ever forced to cross it, but I can tell you, I won’t do it willingly and/or without a fight!!! LOL
Cheers,
Jo
Hi CastleDreamer,
I am not arguing that cheap, clean, tidy, and inhabitable residences, with good returns exist, I just said that they are becoming more and more difficult to find. It seems in most states, all that is remaining are the “dreggs”, of which one could only refer to as feral!!! Sure some might scrub up well with a bit of TLC.
Perhaps, the situation is different in NZ, but in OZ the pickins’ are gettin’ slim!!!
As for different paths….I couldn’t agree more; if we all travelled the same roads, the traffic jams would be horrendous!!!!
Keep up the good work,
Jo
Originally posted by martinw:Steve, can I moderate?
Yeah right!!!!![lmao][lmao][lmao][lmao][lmao]
Originally posted by qwerty:Oh, and just to add, even when you are divorced and things go wrong for your ex you have a duty of care to them as well (spousal maintenance)…………..
PIGS A…!!!!![grrr][grrr][grrr]
I gave my ex husband 17 years of love, devotion, and in the end….some of MY money, and if anyone thinks I have a “duty of care” to him either in the form of spousal maintenance or otherwise, they are grossly MISTAKEN.[hmm][hmm][hmm]
Not a chance baby-cakes; I did my bit, played the loyal and dotting wife, and got no thanks for the priviledge, and no court in this world is going to make me lift a finger after the divorce papers have been stamped. If he dropped dead tomorrow….it would be TOO SOON, and I know for a fact, that the kids HE NEGLECTED would care equally as much.[lmao][lmao][lmao]Sorry qwerty, I am not angry with you. You just hit a nerve….
The divorce process is in the past for me (I re-married a wonderful man). This situation is currently that of my friend. She is seeking legal advice, and I trust that things will work out well for her.Thank you for your input…(I feel better now, thanks for asking…LOL)[blush2][blush2][blush2]
Jo
MartinW,
Sorry to disappoint…but you didn’t bother me at all. As I said, I am not a follower of Steve’s teachings (per se), but I don’t claim it CAN’T work, if you are prepared to venture beyond your own backyard.
Why so antagonist??? All that will happen is people will see you for the angry young man that you undoubtedly (for whatever reason) have become.
How this type of behaviour will help your cause may be interesting, especially to anyone who actually cares, but I personally don’t….so please spare me!!!!!
Jo
Originally posted by lifeX:Damn Jo, Now i feel like a smart ass, hmmmm.
Jo, are you in cahoots with my conscience?
LifeX,
My post wasn’t aimed at shaming you into loaning Wallflower your copy, but if it helped sway you, then it proved worthwhile posting!!! [specool]
Besides, I tend to think you probably would’ve loaned it regardless of my comment (just a gut feeling I have….the word “softie” comes to mind)[tongue]
Jo
P.S. Maybe you’ll thank me when you have tasted Wallflower’s mum’s Beef Vindaloo!!!! Bon appetite!!!![bonjour]Hi Devo,
My husband and I have a LOC, which we have over the years used to purchase IPs and other items. As Mortgage Advisor said, it is not that difficult to calculate the interest part of the loan used for the non-deductible items. The example he gave is pretty straight-forward; even I can follow it!!!
Nonetheless, many people prefer having a LOC over conventional home loans, as it affords them greater flexibility. It is not for everyone, and requires a great deal of discipline because it is like having one hell of a huge credit card (but at a much friendlier rate). But you would know that already……
Happy spending,
Jo
I would do so gladly Wallflower (for free) but sadly I don’t have it to give.[glum][glum][glum]
Hope someone here find it in their heart, to be be generous enough and extend you a loan.
Jo
Hi Purplekiss,
I believe there is a hefty debt against the house; maybe this is what she meant!!!
Thanks, I never considered that possibility…derrrr!!! [rolleyesanim][rolleyesanim]
Jo
Hi Roxana,
As well, try http://www.realestate.com.au, http://www.property.com.au, and http://www.domain.com.au All are good sites worth a look. You can check out what the going rents are in the area and surrounding areas, as well as looking at the suburb profile/snapshot which will tell you how many schools, parks, population size, growth scales etc.
Makes for very interesting reading!
Cheers,
JO
Originally posted by MiniMogul:I didn’t think it was insensitive in the slightest. I was trying to figure out if wallpaper was being ironic or something? nevertheless i am working on the come-back from hell, complete with calculations. just so I can make a fair comparison, Could you tell me what the rent was per week on the property back in 1987? and what it is now? Or was it your own home so therefore no income whatsoever and no tax benefits?
Mini,
I believe Wallflower was indeed joking; she and I have established this, as I myself was unsure when I read her post. That is the problem with written communication, too often, people can misinterpret the meanings of very innocent messages.
To answer your question, the rent for the property back in 1987 was $150 p/w and as I said, I sold it in 2000, at which time the rent was $450 p/w.
If you are working on your come-back from hell involving the figures I have just given you, I will be more than happy to oblige…the rental return back in 1987 was 4.58% and in 2000 (if you are working on the cost-base figure of 170K) is 13.76% and on the 750K value, a meesely 3.12%Jo
Originally posted by SteveMcKnight:It’s certainly hard to reason why a property has fallen 50% in value when there has been a huge boom Australia-wide.
Perhaps the fixtures and fittings have been depreciated, but this sounds odd given that such costs on a private home would not be deductible!?!
Thanks for your input Steve,
I’m with you; I just cannot understand how the 50% depreciation of her assets (aside from some of the contents) could have occurred….it doesn’t seem right at all. Although, I will keep asking her about this, just to clear it up in my own mind…..it can’t be right!!!!
Nevertheless, I have recommended that she seek professional legal counsel as a matter of urgency, and not to rely on people’s opinions (myself included) or heresay. And by all means, settling disputes outside the courtroom is by far the greatest option, unfortunately it doesn’t always happen that way.
As for income protection, again I also agree that Family Trusts are far more valuable; but they too (so I am lead to believe) can be problematic in times of dispute.
Oh well, we live and learn, don’t we????
Jo
Congrats Kay,
Be kind to me though….remember, we’re supposed to be “best friends” according to some!!!! [lmao][lmao][lmao]
[biggrin][biggrin][biggrin]All jokes aside, I know you’ll do great and keep us all on the “straight and narrow”!!!
Jo
Originally posted by lozza123:Does anyone know about wrapping to divorced people? How do they go with refinancing in a year or so’s time? Are there any bank restrictions?
Hi Lozza,
Guess the only time marital status may be of interest to the banker is if he/she was hoping to ask the applicant out on a date! [inlove][inlove]
Just kidding!!!
I asked a Bank Manager friend the same question once, and he replied “It shouldn’t present any problem, we (the bank) are concerned with people’s ability to service the loan, not each other!!!” [blush2][blush2][blush2]
Jo
Originally posted by WallFlower:Monopoly, I can’t believe you can ask such an obviously offensive and insensitive question.
Watch yourself GIRL !!Hi Wallflower,
I am somewhat confused as to how my question could be perceived as either offensive and/or insensitive, however, in the event that anyone took it as such…..
I wish to apologise to anyone who may have been offended by my question, and I would like to assure you that its intent and purpose was the direct result of my inexplicable curiousity, born in the interest of generating discussion.
Please forgive any inappropriateness on my part. [blush2][blush2]
Jo
Oops….did I walk into a “Anti-Steve McKnight” forum??????????? [jerry][jerry]
Come on MartinW,
Don’t you think you are being a bit unfair??? [upsidedown][upsidedown][tongue][tongue] No one is trying to convert you into agreeing with Mr McKnight or his teachings….I for one, am not a follower of his path, but that doesn’t mean it don’t work!!! [thumbsup2][thumbsup2]
Steve has obviously made his money, and good on him (in my books); maybe his methods were (are) different to mine, but I can respect that…the outcome was (is) the same….financial freedom, and isn’t that what we all want?????!!
Success is a journey, not a destination
You would do well Martin, to remember that sometimes, and take into account that the road travelled doesn’t have to be the same one for everyone, and be grateful that it’s not, because if it were, could you imagine the damn traffic congestion!!!! [ohno2][ohno2][ohno2]Jo
Hi Westan,
I hear what you’re saying, and agree with you wholeheartedly. I am always cautious (and weary) especially on the internet.
That is not to say, I would never respond to anyone who wishes to speak to me, I am (and always have been) more than approachable. However, the incident today put me on alert and I became very weary of the other person’s intentions. Hence, best leave them to their own devices….I don’t have the time, nor the desire to participate in such mind games.
But, that is history, and I would prefer to put it (and its orginator) to the back of my mind.
Jo
Originally posted by Lizzy:I can give you a contact for NZ investments, there is even a seminar on soon for some up and coming off the plan sales. I also have an excellent contact in Far North Queensland… my jaw drops at some of the deals I finance for clients up there. I.e. under 90K purchase with $150pw rental? Tell me can you argue with that??
Hi Liz,
Thanks, but no thanks….although I love NZ, especially at holiday time, I prefer to invest locally, and by that I mean within my own state (Vic). I mean no offense to anyone in any other state, nor o/s (NZ or wherever) however, I have invested interstate before and got badly burnt. That is not to say, I don’t believe there is value elsewhere (outside my own backyard) but I feel more confident knowing that I can get to my IPs personally with minimal effort (and cost).
No, I cannot argue with that kind of return, nor would I try to. I have never said that +CF properties do not exist, rather that they are getting harder to find…..eventually the “cheap” properties with good returns will IMO become a thing of the past (that’s all).
Jo
