Hi
We have migrated to Aus. in 1988 with $40 in pocket and $4000 debt, two suitcases and two children. I have studied BBus(Acc/Comp) from 89 whilst juggling two children,full time work, new culture, different shifts for hubby and myself…….the whole lot. It was hard, but it helped us save for our first home within 10months of arriving here (fortunuately the home we bought had a huge vacant block of land behind it)

Now 17 years later, I am studying for Masters, have 3 houses and are in the process of signing contrcts for 4 more. I love studying and expanding my knowledge. I would not stop doing that for anything, and I also love investing and learning everything there is to learn about it, by reading books. I am also working full time, active in voluntary work, have 3 children and a household to run.

My point, studying is equally important to investing provided you enjoy it. The things you learn studying at Uni are always transferable skills and they are incredibly valuable in life. It comes down to attitude and patience and delayed gratification. so if i were you, I would finish my degree whilst saving as much as i can. Once I got a good job then it is just a matter of years to decide whether “i have to go to the job because I have to pay bills” or “i want to go to the job because i like it”
Hope this makes sense.
Thanks
Padma[grad]

Hi Liz
Yes you would need a visa, even I do, as I am an aussie now. India is such a vast country and culture wise there is so much to take in, you cannot possibly cover the length and breadth of India in one trip. You would need to do it in sections, like north, south, west and east. particularly north and south cannot be combined in one trip and take all in. Purely because, North indian tourist attractions are all based on islamic culture and show the Moghul rule influence, south Indian tourist attractions are definitely hindu oriented and the architecture reflects that. Both are equally fascinating, educating and wonderful experiences. Throughout India you would also see the British influence as India was ruled by the British for well over 300 years. Every one had a share of Indian bounty and from what I understand, before other countries started invading India, it was the world’s richest country.
Sounds like I am trying to sell India – I am not, but it is a fascinating country so much so that tourists have a love or hate relationship with it.
Best thing would be go to tourism india website, I don’t have the reference but I am sure googling will give plenty of results, and collect some brochures and stuff from travel agents and then decide whether you want to experience it. One thing I can promise you it would be definitely an eye opening experience.
Regards
Padma

Hi Collie
Congratulations on your first acquisition. Well done. One down, 99 to go atleast. Would love to catch up with you sometime.
Padma

Robert
To buy subject to DA, do you need to actually apply for a DA in the council or just get their verbal advice whether or not the area in question and the block in particular is likely to be approved for a DA?

Padma

Hi Det
“Just when you think you’ve got something worked out, someone puts another spin on the idea. I suppose that’s when you have to decide what is best for you.”

BINGO

“I am looking forward to the day that I claim more than just my drycleaning and calculator!”

GOOD LUCK
Cheers
Padma

Det,
At no point in my post was I suggesting to go and buy 10 properties outright. I was merely pointing out how much equity you have and how you are not using it to your advantage. I am saying this with great trepidation, but at the moment seems to me you are making everybody else richer than yourself (taxman etc.,).
As far as living off debt goes, it is a strategy based on the assumption of capital growth ( from what little I understand so far). I think there might be a few people doing this on this forum.
If the idea of investing in property is a long term hold strategy, then why should it matter what the cycles are doing – as long as you buy well. don’t you make money when you buy?
Also Foundation, “to sell now will require vendors in most areas to accept lower offers than they could have expected a year or two ago” – Wouldn’t that mean NOW is the time to buy?

I guess each to their own in this game. It all boils down to what level are you comfortable with. As Oshen was saying if we listen to every piece of advice coming our way, we will never be able to make up our minds.

I was only trying to point out – given your situation – you are wasting your time and money by even indulging in this discussion. You have equity and serviceability even if it were negatively geared for a little period of time. What are you waiting for?
If I were you, I would be actively looking at using that equity in buying quality property in quality location being close enough to either +CF or neutral, reduce my tax liability, increase my portfolio so that I can retire in the next 5 to 8 years time.
But then that is me and I am reckless.
Bye
Padma

HI
I have heard the Betty and butter differently. Here goes
“Betty bought some butter
But the butter was bitter
So Betty bought some better butter
to make the bitter butter better”

thanks
Padma

Hi Hugo
Why can’t you turn your Fiance’s PPOR into an IP? You don’t need to do anything then. YOu live in a fully paid for house and convert her mortgage into deductible loan. Just a thought
Cheers
Padma

I have 5 girls sharing one bathroom and separate toilet as well. No problems. Have 3 in the other house sharing a Bathroom and a separate toilet.
Master bedroom tenant pays a little bit extra because of the ensuite.
I didnot even bother enquiring with the council. What is class1A and class 1B?
Padma

Hi Sharon
Make up a flyer highlighting all the positives of your accommodation i.e., how close to all the ameneties like bus stops, train stops, supermarkets, to uni etc., what have you included in the rent along with your contactdetails and give it to the student accommodation services at the uni and they will do the rest. Atleast that’s what they did to me.
May be timing wise it is too late right now because most of the students would have settled, but you could get the place rent it out for about 8 months and come dec, be ready with it. Uni’s normally advertise in their student acc.register around 15 Dec. when the early round of offers go out, you would be getting enquiries.
Also to maximise your return, see if you can convert the 4br to 5br house. With minimum expense you could turn it into a +CF.
We definitely are going to continue to invest in this market. Key is the distance to the uni and the ameneties availability.
Good luck
Padma