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    October 16, 2003 - 12:24 am

    Anch, remember a lot of people share the rent, especially younger people, eg my two daughters. One is saving for a deposit on her own house, the other is a student who gets about $60 per fortnight rental allowance from Youth Allowance. They share with a third person, so it’s relatively cheap for them to rent.
    Neither wants to stay in the area they are renting in now, so renting certainly makes sense.
    Jim

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    October 15, 2003 - 1:42 pm

    Hi everyone,

    This is good discussion. I like everyone’s logic. I agree on running with the market % rate. Any historic charts I have seen always show the market rates outdoing the fixed rates, with one exception. I locked in at 13% when rates went to 18%. Hedging your bet with a split loan gives you a foot in each of the graves too I suppose. One cancels out the other, keeping you on middle ground.

    Re market values dropping: Yes they did, from 1994. I have seen families highly geared on loans, rates went up, prices dropped, jobs were outsourced – the big Catch-22. It cost them to sell, yet they could not afford to stay. The PPOR’s were hit hard. Yet this is where the long term landlords with a couple of neg geared props could ride the waves.

    My uneducated, yet street learned gut prediction is this:

    1/ A .25% increase in rates next quarter

    2/ Another .25 – .50 increase by the 3rd quarter

    3/ Market values will flatten but not decrease like 1994

    4/ New bank products will come onto the scene

    5/ The govt. will provide new initiatives

    6/ There will be another alternative form of housing .. not sure what it is .. but I can feel some form of community style living to create affordability, industry and employment.

    Times have continually changed from focusing on owning your own quarter acre block.

    Kind regards, Phil

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    October 15, 2003 - 1:35 pm

    Arty I can be under “married but still looking” and you can be under “married….half dead….has one eye open and still looking”

    hahahahaha

    ~ If at first you dont succeed…destroy ALL evidence you ever tried to begin with! ~ :þ

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    October 15, 2003 - 1:32 pm

    alas….no….we dont live on a farm. We did buy one a few months ago..but the people selling it decided to reconcile their marriage…so we lost out. Its been a bad year LOL

    WE are currently looking for a farm…having not owned anything for 4 months or so..we are missing our mortgage. (decided to invest for a bit…reap the interest instead of paying it LOL)

    Our place is big….plenty of room at the moment for our animals…as for the food bills? DONT ASK!! I swear…..one of us is gonna have to have an affair with a pet food rep hahahahahaha

    ~ If at first you dont succeed…destroy ALL evidence you ever tried to begin with! ~ :þ

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    October 15, 2003 - 1:11 pm

    I hate to go off topic…but sooshie I just hit ya website….I loved ya pussy pix!!! They were gorgeous!! I also checked out the rest of ya site before it self destructed LOL

    I loved the way its written..and Im with you all the way on THAT certain magazine which I no longer buy LOL

    On a side note…..when Arty saw ya pic..he drooled. Wanna swap? You buy me the newfoundland puppy I want…..you can have him!!! hahahahaha

    I will go pack his bags now……LOLOL

    ~ If at first you dont succeed…destroy ALL evidence you ever tried to begin with! ~ :þ

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    October 15, 2003 - 1:04 pm

    OK Im game!!!!! :þ

    Approx 34 with indoor plumbing, this lovely city dwelling possesses a country heart. Featuring a huge front verandah and picturesque bush front, this little beauty is a once in a lifetime find!! Needs some very minor repairs to the exterior and a coat of paint, but the interior is clean and well maintained.
    A perfect investors choice! Available for inspection now!!

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    October 15, 2003 - 10:56 am

    Casey,

    As Dingo suggests, strata titling may be a good and profitable idea.

    I would however go one step further (or should that read ‘one step back’ ?) : After making due enquiries from council as to whether strata titling is possible and what is required you will need to spend some money to satisfy council requirements.

    These requirements may involve spending money on fire protection, actually erecting the carports, supplying some additional landscaping etc, etc.

    Now the problem is that the moment you have two
    seperate titles the property will attract two lots of council rates, water rates etc.

    The advantage of having two titles is that it will provide you with more manoeverability financially speaking and, as Dingo suggests, may likely be a good investment for the addtional money you need to spend to make it all happen.

    To avoid paying two lots of rates etc. however you may perhaps decide not to actually lodge the Strata Plan with the relevant State Government for registration as yet until such time as the need arises for you to have two seperate titles registered.

    Please do make enquiries so as to verify what I am now saying : I believe that, the moment you’ve got the Town Clerk’s signature actually placed onto the Strata Plan, the pressure is off as Council’s endorsement of the Strata Plan remains in force even if you were to lodge the Plan for registration in say ten years time.

    You need however to verify the above with both the relevant state government department (which registers titles) as well as with council itself.

    Pisces133

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    October 14, 2003 - 1:04 pm

    Hi Lynnem,

    Terry has answered your question.

    I just wish to add that I have proven Terry’s correct advice through my accountant for my lady friend. A convoluted determination over her ownership of two houses and fragmented leasing, led to the 6 year rule.

    This also provided her with a tax refund of $4,500 as opposed to her previous accountants advice (not up to date), of a refund of only $250.

    One last point, apart from getting a good accountant. Remember that any laws passed also apply to those whom pass them. e.g. Houses owned prior to 20 Oct ’85 and subsequently sold would not attract CGT, regardless of rental. CGT used to be indexed to inflation, but is now just cut in half for tax apportionment.

    Regards, Phil

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    October 14, 2003 - 10:57 am

    muppet does that mean you couldnt beat any of us? [:P][:P][:P]

    hehehehe

    ~ If at first you dont succeed…destroy ALL evidence you ever tried to begin with! ~ :þ

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    October 14, 2003 - 10:42 am

    Hi guys and girls,

    Andy, I know you said to reply by e-mail, but I want to get in and let the group know that SATURDAY is preferred for me, as I’m working late shift on Wednesday.

    I don’t want to miss out on meeting up with you people. I hope this is OK with everyone.

    Shaun, you made a smart and timely move with buying in Q’beyan. Only wish I had bought those $45,000 units at the time you bought in. Hindsight is great ain’t it ????

    Looking forward to sharing thoughts with everyone.

    Kind regards, Phil

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    October 14, 2003 - 7:13 am

    I wont start a new thread…..but I got this one and laffed! Its a little naughty LOL

    A woman walks into a chemist shop and tells the pharmacist she wants to buy some arsenic. He asks “What do you want with arsenic?” She replies “I want to kill my husband because he is cheating on me with another woman.”
    The pharmacist says, “I can’t sell you arsenic to kill your husband !!! even if he is having an affair!!” So the woman reaches into her pocket and pulls out a picture of her husband…doing the deed with the pharmacist’s wife.

    The pharmacist looks down at the photo and says “Oh, I didn’t realize you had a prescription……..”

    [:P][:P][:P][:P]

    ~ If at first you dont succeed…destroy ALL evidence you ever tried to begin with! ~ :þ

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    October 14, 2003 - 6:33 am

    I like all your wishes…but I have to admit..Im with mel!! [}:)][}:)][}:)]

    quote:

    Tall, handsome, friendly, fit guy who knows how to have fun.

    Now HE sounds very unfattening!! LOLOL

    ~ If at first you dont succeed…destroy ALL evidence you ever tried to begin with! ~ :þ

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    October 14, 2003 - 6:22 am

    zis was so funy!! I wav lafn my as of! ha

    [:P][:P][:P][:P][:P]

    ~ If at first you dont succeed…destroy ALL evidence you ever tried to begin with! ~ :þ

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    October 14, 2003 - 6:01 am

    wow neo u are sure quick off the mark!! LOL

    Polar…remember…..slow and steady wins the race [;)][:D]

    ~ If at first you dont succeed…destroy ALL evidence you ever tried to begin with! ~ :þ

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    October 14, 2003 - 5:06 am

    Same here. Ours looks like it will be $4,000 for the system and $2,500 for the house.

    Water from shower going to grey water tank feeding gardens. The other wastes and overflow from grey water going to standard septic tank, then into absorption trenches.

    Michael

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    October 14, 2003 - 3:05 am

    Terryw thanks for this advice – I will get him to check out the average rental yields. asd they should have data from the past 2 years.
    They will organise the finance – of course.
    I will also get him to ask how long they have currently been for sale for.
    Only being that they are 2 or 3 stories high in small blocks I would have thought if the business closes down he would find it relatively easy to lease himself or sell, as it is close to the city. What are your thoughts here.
    Sha[:)]

    quote:

    I wouldn’t touch a serviced apartment. Hard to get finance, hard to onsell, low capital growth and relatively low rental yields.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

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    October 14, 2003 - 2:56 am

    Thanks for your response Polar_bear. That is what I also suggested to him.
    Sha.[:)]

    quote:

    Serviced apartments are a niche market and many investors won’t touch them as it can be difficult to get out of the investment. The ongoing mgmt costs can be quite steep.

    IMO he would be far better off purchasing a conventional property – preferably a house.

    [:)]

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    October 14, 2003 - 12:31 am

    jarvis
    good to see your back, take care and follow up on steves advice take care
    kod

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    October 13, 2003 - 12:31 pm

    ok I havent received any sob stories in my inbox…but for some weird reason I get a new email every second day that promises to enlarge my “nether regions”.Considering I dont have nether regions that need enlarging…..I have to wonder where they got my email address LOL [:P]

    AS for the Save Arty Fund…I want half!! LOL after all…..Im the one that has to live with him!! [;)]

    ~ If at first you dont succeed…destroy ALL evidence you ever tried to begin with! ~ :þ

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    October 13, 2003 - 12:14 pm

    after finally realizing how the site worked….my best time was .19

    but my average is about .27 [8D]

    I posted this URL at another forum I have used for years….and most of them are going crazy LOL

    ~ If at first you dont succeed…destroy ALL evidence you ever tried to begin with! ~ :þ

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