Forum Replies Created
Thanks Derek,
I guess I have always paid the (expected) 10% deposit. Maybe I should have read the contract for the finer print…damn, I knew I should’ve got that new eye-glass prescription!!! [blink] LOL
Anyway, it really doesn’t matter, most of my negotiated settlements are 30 days anyway (which is what I prefer) when I buy, to tenant them sooner. So it really doesn’t make too much of a difference.
Thanks for the info guys, I will keep that in mind next time (especially if I am strapped for cash!!!!)
Jo
Originally posted by MiniMogul:“Why do people assume that just because you have IPs you must be some rich #$%#@ that looks down his/her nose at those who only have their PPOR???”
Reading between the lines: You sound like you are upset because this happened to you. Was it a one-off or does it happen a lot?
Because I hate to say it but if so, you could be attracting the reaction to the stereotype by behaving like the stereotype.
i bet you’re gonna hit me now, huh
*ducks*
No MiniMogul,
I am not gonna hit you (not hard anyway!!!) LOL
I am not angry about people’s reaction, because (contrary to what you read in my question) it doesn’t happen to me, well actually, it did, but as you said … it was a “one-off”. Nevertheless, I (wasn’t angry about it) felt surprised that the person who reacted that way would express such hostility.Most people are fine; and I do exercise alot of discretion. If they aren’t into property investing, I don’t talk about it.
You may not like to hear it, but having money (even if you don’t sing it from the rooftops) becomes clear to others around you; and it DOES change things. Sometimes it is a good thing, other times it isn’t.
THAT’S LIFE isn’t it? Always changing…..
Jo
Originally posted by MiniMogul:Am about to get first ever loan in my whole life .
WOW – you’re first loan, that is so so cool. I too owon property 100% but I have had to borrow from the tender age of 18. Good for you.
Jo
Originally posted by Marc1:Do you beleive that rich people are (expletive) evil?
No Marc,
I do not believe rich people are “evil” but that doesn’t mean that poor people are necessarily “good” or virtuous!! I believe rich people have played “the game” whatever and however they define that game, it’s rules and themselves.
I particularly agree with the adage: Life is a journey, not a destination.
It (success) is subjective and is measured differently, by different folk.
I just wish more people would not be so critical (of those like myself, who have played it smart) and as such proceed to judge/sentence and execute us before we are even trialled !!!
Jo
Originally posted by peterp:Quote:Originally posted by Monopoly:Poor thing! In WA, I’m used to paying either $500 or $1000 deposit (they request $1000 but the last two times, $500 has been fine).WOW – $500 that would be great!!! I WISH..LOL It would make so much more sense to pay a smaller deposit, and then make it up in the balance on settlement – at least that way, your money can sit in the bank a bit longer and grow a bit more.
Oh well, them’s the breaks! [hmm][hmmm][glum2]
Jo
Oops forgot to add…..
However, the stamp duty is paid at time of settlement (as I assume it would be in NSW as well????)
Jo
In Victoria (I’m not sure about other states) it is exchange of contracts, usually after the 10% deposit is paid by purchaser. (My husband just sold his Qld property yesterday, and the purchaser only has to pay 5% deposit – Man that’s cheap….I am soooo used to paying 10% deposits.
As for the new stamp duty, can’t answer that as a Victorian (sorry). I am sure the NSW savvy folk will know.
Jo
Hi Patrick,
I believe the theory behind that is to actually get more rent for your IP than what you are paying to someone else eg. you rent your IP for 250 p/w whilst paying Jo Average say 200 p/w thus you just made 50 p/w. Sounds simple enough doesn’t it? But it’s not that straight forward, people often overlook the finer details.
It is a one way of doing things, especially when you are starting off, but not for me I’m afraid.
BTW….even though I have been investing property for years (trust me, many many years)….I still feel like a “beginner” when I talk to people such as those in this forum.
All the best,
Jo
SIS,
As a mother myself, I understand where she is coming from.
And yet, the “nicest” girl can prove to be the biggest @#$%!@ and ripp you off blind. The bottom line is THERE ARE NO GUARANTEES in love, the best you can do is find someone who YOU want to share your life with, and (in the words of Doris Day) C’e Sera, Sera. [inlove]
I had to kiss plenty of toad, married a real bad frog, before my Prince showed up!! And yes, he stripped me of some of my hard earned assets too; but its okay, I am back now (all better thanx) [biggrin]
Good luck in your quest….happy kissin’ LOL
JoNot real sure if it will give you an accurate date, but I would imagine that by contacting the council they will be able to give you some indication of when the change of ownership transpired.
Alternative, there is the Titles Office (which may not be accessible unless you have a vested interest in the property.
One can but try I guess…..
Jo
Hi Kay,
Heck no….I don’t have to hang around a particular “class” of people or change the people I associate with at all. I have loving friends and family, but (at times) I do encounter a bit of “stand-offish-ness: from people who think that because I work part-time and own more than my PPOR (without a mortgage – well for now) that I am full of myself !!!!
If only they knew me…..they’d know that is the complete opposite.
All in all, I take no offense, and cop it sweet; people will be people, and everyone is entitled to his/her opinion.
I am happily married (second time round) two great kids, with loving friends and family….what more could I want?
Cheers,
Jo
I’m with you Kay,
We just purchased another property a few days ago, and I am still on a “high”. That will ease up on “settlement” and then I started to get anxious about busting a boiler in anticipation of the next purchase.
Do you think I should see someone???? LOL
Nevertheless, whatever drives you forward, can only be a good thing as long as you are happy and aren’t hurting anyone.
Cheers,
Jo
Hey Mysta,
I have been bitten so often; I’m all outta cheeks !! LOL [tongue][tongue][tongue]
You’re absolutely right, one chip at a time. I’m with you on that!!
Keep smiling [biggrin][biggrin][biggrin]
Jo
Castle Dreamer,
Yes that is correct. Late lodgement result in penalities, for those WHO DO THEIR RETURNS THEMSELVES, but ONLY if you employ the services of a registered tax agent (accountant, whatever) you are granted exemption, hence an extension to 30TH APRIL…..!!!!
So yes, go girl…..party party party…LOL [xmas][xmas][xmas][thumbsupanim][thumbsupanim]
Jo
Hi Sonja,
I agree with MarkyMark; going with your feelings. If you feel that 95K is reasonable then stick to your guns, just remember however, that it may cost you the property. How will this make you feel? If you are okay with running the risk of loosing it, fine….but if you REALLY have your heart set on it, maybe some further negotiations may help.
How about offering shorter settlement period, say 95K and a 30 day settlement instead of 60 (if that is what you orginally may have offered).
Me personally, I try to never get “emotionally attached” to a property enough that I HAVE TO HAVE IT, because if I do that….and I lose it, I will kick myself “for not offering just a bit more” bla bla bla !!!
How long has the property been on the market? Was it originally passed in at Auction (if so, what was the highest bid)?
All in all…STICK TO YOU GUNS….if you believe that 95,000 is too much (based on whatever is being paid for surrounding properties in the area) then DON’T go any higher. But at the end of the day, the only person you have to live with is yourself (on whatever decision you make).
KICK BUTT…..and keep us posted.
Good luck
Jo
Hi Mysta
Well progress is s-l-o-w, but steady. I am still behind on where I would like to be, only because I have a hubby who is somewhat “cautious” in his (our) dealings….but that’s cool; better to be safe than sorry…and believe me, I have been sorry before!!!
Look at it this way, you can’t learn without making mistakes; and if you think you are lucky because you have never made any; then that thought is your first!!!
Keep going, you’ll get there EVENTUALLY !
Cheers,
Jo
Castledreamer,
Why October??? If you had a tax agent/accountant do you tax for you the previous financial year, you have until 30th April (the following year) to lodge your return….hence you have 9 months!!!! Damn, if you were a woman, you could give birth in that time…LOL (no offense if you are male, just kidding around)
Jo
Hi Mysta,
Please excuse my “cheeky” tabacco-chewing cowboy comment; I was trying to get a reaction; [guilty][tongue]in a nice way!! LOL
Anyway, to answer your question, property prices here vary a great deal because they are mostly new homes. However, of the older, established homes, 10 years ago they could have been purchased for approx. 150,000 now the same (basic) home has doubled to 300,000.
I paid 75,000 for my block of land and built a huge house on it. The same sized block (which is unavail anyway in this estate as it is full) would cost (in today’s market) 200,000+ and when you then add the cost of a basic home to build here; it can be quite costly; but certainly not impossible.
Hope that helps Mysta….again sorry if I was offensive in anyway; no malice was intended I can assure you.[guilty]
Jo
Hey Michelle,
Ever gone out to dinner with friends, and had to deal with one bill for the whole table?
If that was enough to make you see red, imagine the fun it “could” be arguing about property expenses!!!
My advice….steer well away, and keep the friendship.
But if you REALLY MUST then (as others have suggested) seek legal counsel.
Jo
I’m with you Cremin,
Buy several properties and multiply your return.
But (and I keep stressing this) WHERE DO YOU GET A PROPERTY FOR 20,000 – SIBERIA????? I read one post where someone suggested 25,000 per property; are we talking units here. Surely, you can’t be referring to a 3 or 4 bedroom house – and if you are whereabouts….in a dusty town in central Australia where the only inhabitants are cactus plants??????
I know, I know you so-called “spotters” can put the stones down for a minute….I haven’t finished my speech yet.
I am obviously missing the boat here, and not seeing these hidden little (cheap) gems, but seriously, I have to wonder how many people out there are going to accumulate heaps of IPs and when time comes, meet their maker with a debt the size of Texas !!!!
Oh well….go for it now….I deserve it. HIT ME!!!!!!!
Jo
