Forum Replies Created
HI Investron
Have you got development approval for the site or townplanning issues flood issues not all acre blocks can be subdivided council contributions etc.
Just some thoughts
Cheershi Mandi
When you get a second job they hit you with a higher tax for second job. But at the end of the day you only pay tax for the amount you earn.
If you earn more and it pushes you up to the next tax bracket then you pay tax in that bracket. If you don’t work a full year in your second job then you will get money back in your tax return.
Some people say it’s not worth it but if you make extra money regardless of the tax to get you on the way with investing your already miles ahead of someone who doesn’t want to work. and will probably never have investments but will always complain.
Cheers
NailwogHI Stevie24
When you say units are cheap? compared to what??
Hi stowy
forget or this positive cash flow mumbo jumbo rules etc, the easiest way to work out if a property is cash flow positive is when you rent covers all your cost , bank rates etc without your tax deductions.
Hi all my 2 cents worth, LOC works best if it is taken out on PPOR loan seperate to investment loans so you don’t clash with Ato.
Hi all
there are two main points you have to remeber in realestate
1. You make your money when you buy not sell
2. Positive cash flow isn’t rocket science and its not new , common sense tells us if you can’t afford to buy it, don’t.
I was 18 when I built my first house I hadn’t starting reading any property books but new that when the house was finished I wanted to have the rent cover the payments cause I was only earning $280 a week. As you grow you incorperate different properties to fit your plan (growth , cashflow, tax effective).
You shouldn’t follow the flock cause you might want to go in the opposite direction. You should work out what you want to achieve, allowing for family children lifestyle, make a plan and stick to it modifing as you grow and experience new things.
You must be creative and think outside the square cause some times what you want to do might seem impossible untill you take your blinkers off.
The other thing is not many people will tell you the exact way to achieve you goal its upto you to put it together because not every one has the same goals or morals.As for seminars, there mostly the same they they tell you everything you already know or could read about glossing it up without telling you the nity grity on exaxtly what happen or what to do. Educate your spouse it’s easier with two heads working for the same goal and enjoy life do not let it consume you. the biggest point to remeber is just do it don’t be a gunner. I hope my jibberish helps someone out there?Hi SIS question, why do you have to hold back please share
Hi all I posted this topic to see how many true renovaters or investors are on this forum because this topic is what you must do if there is no property boom.I have done this with 5 properties in a market which has been stagnet for 7 years and was still able to pick up 300,000 of equity before the market had even moved now its doubled again. Just interested to see who elese has done this. Boom time is great anyone can do renovations and make money
hi all
5 ips in to 18monts
total cost – 470 000
income – 61000
return – 12.9%
current value – 930 000Cheers
nailwogHi crashy, I checked out your web site not bad reading you profile you said you were able to stop working full time work, what did you do to achieve this as in general share trading or somthning else for your cash flow.
nailwog
