Forum Replies Created
wow! what happened there?
wow! what happened there?
wow! what happened there?
I'd get 10 to 12 other guys together and rob a casino. Just for something to do. Then I'd make a movie about
I'd get 10 to 12 other guys together and rob a casino. Just for something to do. Then I'd make a movie
I'd get 10 to 12 other guys together and rob a casino. Just for something to do. Then I'd make a
I'd get 10 to 12 other guys together and rob a casino. Just for something to do. Then I'd make
I'd get 10 to 12 other guys together and rob a casino. Just for something to do. Then I'd
I'd get 10 to 12 other guys together and rob a casino. Just for something to do. Then
I'd get 10 to 12 other guys together and rob a casino. Just for something to do.
Hey Pete,
I don't like the idea of buying a house right now simply because I think houses in most capital cities (and elswhere) around Australia are over-valued. I think renting is much better value.
I live in Sydney and even though prices in some of the suburbs here have dropped, I just couldn't see myself forking out a large portion of my income for a big portion of my life to own a 2/3 bedroom house in an average suburb. I'd feel like a real sucker if I did that.
I might not be as financially literate as a lot of people here, but I know one thing about business: If it's not worth the price, don't buy it. Most people live by that principle when it comes other monetary purchases in life but not with property. I guess because it's an emotional decsion.
So in short, I can understand your frustration. But don't worry. When bananas were overpriced last year, people didn't lose it (although I saw some pretty distressed chimps at the zoo one time). Many people simply just didn't buy bananas.
So what's the difference with property? It's not like it's the end of the world. There's always going to be other stuff on the shelves.
Just my opinion. Best of luck.
Dan
Hi Busy,
According to RP data, the median house price for Cloncurry was $300,000 in the March quarter so it sounds like you bought well. Another plus is that Cloncurry has achieved pretty solid growth over the last year or so on the back of the mining boom.
I'd be watchful though as the mining boom has pretty much peaked and once it slows down, prices in the area are likely to fall.
Keep yourself posted by checking the council's website as well as looking at sales in the area. What other properties go for will give you a good idea about how yours is going. Don't be afraid to cut and run if things don't go as well as you planned.
Hope this helps.
Dan
Crashy, you sicken me
If we need a job done, we don't need you. There are plenty of tradies out there who can do the job. What sort of disillusioned world are you living in when the customer pays you their hard earned dollars and then has to treat you like a king? You're obviously someone whose mother spoiled them too much. GET REAL!
Hi Marc,
Thanks for the detailed explaination. Will need a little time to wrap my head around it.
I'll get back to you.
Dan
Hi Chris,
I'm not an accountant but my understanding of CGT is if you hold the property for less than 12 months you have to pay capital gains tax on the entire amount of any capital gain that you make. If you hold it for more than 12 months you are only required to pay CGT on half of the capital gain.
The rate that you pay in each instance will depend on how much the capital gain is. http://www.ato.gov.au has some pretty useful info on CGT.
Hope this helps.
Dan
Hello Diego,
I agree with both of the above comments. The term 'club' is misleading as it portrays that you'll be looked after. In my opinion though (and I know of people who have been left with investments they wish they hadn't gotten into) as Mark suggests, these companies are selling developers stock. The danger is that you will pay more than what the properties worth when you buy.
Be careful!
Dan
Hey LA,
I may have this completely wrong but what I'm hearing is that your properties provide you with income through the equity that's gained through capital growth…? How do you extract the equity from your property and convert it to cash?
My apologies if I've misinterpreted.
Dan
Hello there,
I accidently placed a post on financial advisors without realising this one was already up. OK so write what I've been told when it comes to financial advisors.
Firstly, don't hire one who charges commissions. Mortgage Hunter – I noticed you pay a flat annual fee. I've heard this is the way to go.
Is it a myth that it's imporatant to have a good financial advisor and that it's a good idea to pay good money for them?
I agree that it's the individual's responsibility to be informed but surely it's good to have another informed opinion to consider as well? You don't see any proffessional golfers waling around without a caddy…
Dan
I like Karma Sutra
