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Yer, sure does help. Thanks again D.
Thanks D.
I will look more into some of those titles.
Do you know if any more recent books have been published (last couple of years), based around the market today?
Some of these are 8-10 years old. I assume a lot have things have changed since then..?
Hi Coolharry67.
A lot depends on what you are rendering? Brick, Hebel, Blueboard?
It's not an easy job, hence why renderers charge around $60-$70 per square metre (here in Nth Vic anyway).
I have a Handyman business (I'm a Cabinetmaker actually, but do a broad variety of work), i have only ever had one go at it and ended up getting the pros in to do it properly…
If you are going to have a go, i would do a small, not seen area first and see how you go. It's extremely difficult to take it off and do it again in case it doesn't work the first time…
Hope this helps…
Hi M.Investigator, thanks for your feedback.
They make money for you by replacing your working income. Positive geared properties have a main purpose to help you be financially free. Therefore, you need enough positive cashflow from properties to replace your current income. In that way, you could retire by your 40s-50s to achieve your goal. You could keep them forever, and as you do, you gradually increase rents every year which also helps to increase your cashflow.
This makes sense. The only thing that concerns me is the type of property that we could get cheap enough to Positive Gear would typically be an old almost run down place (correct me if i'm wrong). If we were to buy a place like this that we could make money on from day 1, that would be fine. But what happens 5-10-15 years down the track when repairs and maintenance need doing (ie. Hot water, air conditioner, carpet, appliances etc). As soon as these costs come into play, would the property not turn into a negative geared asset as it is costing us money (depending on return of course)? How do we go with this? Just Negative Gear it for a couple of years until expenses have paid for themselves???
Thanks for your feedback nguli…
"If you decide to keep either property as an investment do not pay off any more of the principle. This will be reducing your tax benefit and the money is better off going towards your non deductible debt".
I understand what you are saying here, have higher loan on IP rather than on PPOR for tax benefits..? But would it not be viable to pay the IP loan down to the amount where we could Positive Gear it, and with the extra money this produces, pay 'that' off our PPOR? Or would the figures work out better to do it your way?
Hi all.
I have been reading posts on this site for sometime but I am brand new to signing up (about 18 minutes).
I apologize for the change of topic, i hope you guys don't mind…
I am trying to work out how to open a discussion in the forum? I have some questions etc. but I'm not sure how to get it started…
If anyone could help I would greatly appreciate it.
Regards,
Muz.