Fair point Bibra [cap]

It is only your thoughts that create your future – Be careful what you think!

Raceplays,

In theory it sounds very attractive, but as with all investing ‘theories’, how do you turn this theory into practical real life situations. For example, the numbers you have stated obviously all add up, but how do you get people to bet with you firstly, then do you look for a one off $650 bet at 2/1 or do you take alot of small bets…[Read more]

Yeah thanks Yack, i already lost too much at the Melbourne Cup – Dammit![thumbsdownanim

It is only your thoughts that create your future – Be careful what you think!

Whoops, a bit slow on the up take![blink]

It is only your thoughts that create your future – Be careful what you think!

not sure about anyone else, but 2.25% of $438,000 = $10,950?

where did that come from?

It is only your thoughts that create your future – Be careful what you think!

thanks for your thoughts guys/girls, very interesting!

[party]

we have located a good accountant in Wollongong NSW (where i live), Brian Rees, but have yet to meet with him as it is not yet tax time. this will be our first financial year with an IP, so it will be a learning curve i am looking forward to!

i think it will be the best option to self asses the items for depreciation. thanking you greatly for…[Read more]

thanks scott.

the house was built in 1979. there is not much new in the house from my memory (we purchased in jan 04) but we did buy a s/hand oven for around $400 in the last couple of months. not sure if there will be enough to worry about it?

there are the standard items like carpet, curtains etc. but as this is our first IP, and reading your…[Read more]

mel

we purchased the property with 100% plus costs using my mum as guarantor, meaning it cost $180,000 all up ($172,000 for the house + $8,000 for the purchase costs).

being that the loan is for $180,000 at 6.95%, the mortgage repayments alone are $295/week. on top of that, iwe put in an extra $60/week to cover insurance, rates, property…[Read more]

thanks guys

the only problem i am faced with, with regards to wrapping, vendor financing and lease options, is that the house is in South Australia. it is to my belief that it is NOT legal to do these things in South Australia?

i am not sure whether this is correct or not? if it was an option, then maybe these options would then be…[Read more]

Thanks guys/girls. thought i was close, but just needed reassurance.[specool]

thanks Kay for the contact. will follow up. no depreciation for me as the IP is 28 years old (1976) and just misses out according to the ATO.Bummer.

not too worried about the lower tax return if it does work out that way, we were just hoping to put a little bit extra on the loan to build up equity faster (as we borrowed 100%). here’s hoping the…[Read more]

income for the year is 8500, on top of yearly 37500 salary.

i am feeling silly as when we initially bought the place i worked out a different possible amount & worked it into the equation for yearly return. bummer! anyway, i think it is time to see an accountant.

does anyone know of a very good accountant in the wollongong area who knows alot…[Read more]

kaloni

just purchased an IP 2 months ago with 0% deposit. no joke. we borrowed 100%, but only by using a gurantor. hard work with the banks but we got it. the rent compared to the price of the house was excellent enough so that this situation was not volatile or susceptible to be affected by interest rate rises. gurantor has to be solid & in tune…[Read more]

wrappack

currently looking at wollongong area as i live there & have the ability to keep an eye on things if something does eventually come to fruition.

i understand that $ are needed to pull a project of this capacity off successfully.

although looking at building/selling, am always looking to add more properties to our small (1)…[Read more]

thanks elves for your insight. looking at it from that perspective, and given our current financial position, then less financial outlay is honestly the best & safest way to go. the idea of slowly building our way up to bigger & bigger projects sounds like a sound investment, helping to educate ourselves at a pace more comfortable for us.…[Read more]

wow, thanks guys/girls. alot of very very useful info for me to read (especially wrappack-wow you’re right into it. good to see. i think my next step will be to go see father in-laws next door neighbour. thanks again. will let you know how i go. [biggrin]

Kay,

Cool, sounds good. Will look to having a coffee in the new year maybe? Hope you enjoy your visit to the Gong, very busy today here with all Xmas craziness!!

Merry Xmas, Happy New Year & Safe holidays.

Nathan

Kay Henry,

I do agree with you also kay, as i prefer to work things out for myself usually, it gives me increased satisfaction in knowing that i conquered something! I guess i just need a kick in the backside to get motivated! Geez, dont i wish i knew then (2 years ago before the boom) what i know now. Probably would have a few more $$ to my…[Read more]

Try a website – http://www.propertyvalue.com.au & it will give you an estimated value on a specific property, and even give you recent property sales for the last few years in some cases. It does cost $39.95 for the first time, but gets dicounts of 25% & up for the next report & so on. It also gives an estimated property value for 5 years down the track.…[Read more]