Forum Replies Created
Guys,
After the initial discussion regarding Perth, around June 2004 I bought an IP in Westminster. I never looked back. It has appreciated almost by 15% in 6 months. I was told Westminstaer, Balga are the suburbs to watch for future growth too. I am planning to keep it for long term.
These areas are only 10km from the city and max of 15 minutes drive to beach.
Thanks for this forum for my pick.
Paul The Magnet
Yes I still will. Migrants need housing and builders keep building for their survival. You know what would happen. Rent will soar. That will offset against the negative gearing loss.
Paul
I just (Tuesday) bought off a house at westminster in Perth. WA is the place to be at the moment. If anyone looking for a property for LONG TERM investment, north of Perth within 15km is the place to invest.
You never go wrong if you think about in the long term basis. In short term who knows.
Paul
Hi Newbie, there aren’t many ‘good’ ones. How much are you prepared to pay for their services though?
Paul
Dave,
In my opinion you try to rip ATO off. I think people like you give a very bad impression about IP investors.
Why not claim from tax your car purchase and repair, service etc. And furthermore how about your holiday expense, clothes and why not your day to day expense.
Basically you have no idea how the tax system works. Doesn’t it?
Sorry to be bit harsh mate. But I am not sure you are kidding or not.
Ta, Paul
Marty, don’t tell me you are a magician too? Paul
I found LOC is very tempting to spend more. Eg spend another $500 to buy a better/next upper range purchase in white good/electrical good. This was my experience.
What I did was I asked the bank to give me a separate account for the LOC limit. And I only touch the account for investment purposes. This way I don’t throw away my investment fund for personal purchase. And another thing I am doing is direct credit $100 per week to this LOC account from my personal account so it does grow even more.
It works for me now.
Ta, Paul
Hi Stuart,
Do you know will I win lotto tomorrow?
It is very hard to predict. Isn’t it?. I would say the same for the property market. I thought the prices were very high early last year but I was so wrong. It is all determined by state of the economy, interest rate, willing to invest, greed etc. But one thing for certain is the yield is very low. We are all banking on the growth.
It reminds me of good old days of dot com.
Ta, Paul
TerryW,
I have heard this sort of stuff ups numourous times before. Legally you got nothing to worry but unfortunately you will have to go through all the hassles.
Have you been receiving council rates notice?. If not have you thought about it in the last 16 months why you haven’t received any?
Ta, Paul
I agree with you 100%. They say long leaseback, CPI increase in rent etc,, but we pay high price to purchase. Their prices are much higher than the market value so it is not really a good deal, isn’t it. They are offloading their properties and leasing back to defense members.
I would suggest you do a proper sum before comminting in these of schemes.
Ta, Paul
Yep I read the article too. Blaming it on investors is like someone saying ‘that person is earning more than me so it not right/correct’. Market works in supply and demand. People invest to make money. Along the way we take risks too. We will eventually see a crash. But I think most of us know it is going to happen within next 2-3 years but we still like our property investment.
Anyone remember late 90s and early 2000s in tech boom time. Buying shares without following the fundamentals. EPS was negative we still loved it. Then we know what happened.
But I still love my IPs. You could say I am mad.
ta, Paul
Thanks Harold and Terryw,
I saw a house for sale through a local agent. It says option purchase allowed. Not sure what they meant. Didn’t want to ring up the agent to find out either.
In the meantime, does the ownership change? So basically anyone can approach any house owner and offer them an option to purchase. I presume the price will be higher than the market price.
Ta, Paul
All bits and pieces of saving counts. The best one I have to say is to amalgamate all your car, credit card, perosnal loan into a housing loan. This way you pay the minimal interest. Then get a credit card with minimum limit (i think it is $500) and top it up with your monthly budgeted amount. This way you only use your money in CR card. In the same time you might be gathering flyer points, top up interest etc,
Anyone try this. You will be surprised how much you save in a monthly basis.
Ta, Paul
Andrewkimmber2, putting much of your hard earned money into PPOR also not a clever idea especially if you want to own keeps of IPs.
Take it easy. You don’t want to see yourself in lot of trouble servicing current commitments.
Ta, Paul
Lucky Phil,
One way to do is setup a separate new trust for yourself and your business partner. Then setup a new company structuree as a trustee for both trusts. Allocate your profit/expense 50:50 to each trusts you created from the company. Directors must come from each trusts (one each).
This is the way I would contemplating unless someone else will have a better structures.
Ta, Paul
NewtoPI,
I used Washington Brown Associates at Crows Nest in NSW. Ph 9906 1212.
Ta, Paul
The best protection you could have is to register with one of the credit agency for credit alert to your e-mail. You will be alerted every time someone put a record in your file.
Talk to Batcorp Advantage to register yourself. It costs about $29.90 per year. Best $30 you could ever spend.
Ta, Paul
Gazza17,
I have been using Property Manager Pro for property accouting. This is without doubt the best on the market in my opinion.
Check it out in their website.
It is developed by Manaccom Pty Ltd.
Ta, Paul
ANZ, moneysaver is the one I have. This is I would say one of the best. 5.97% variable with $10/m fee. It came up in the top with cannex survey.
Ta, Paul
Fullout, you might be saving $40/M but some time it is not worth the trouble at all. Owner manager is good as long as all goes OK. What happens if tennant decided to go his/her way. Then trouble starts for you.
Ta, Paul
