Forum Replies Created
Hi AB,
I live in London now and work and pretty much are where you’re going to be. I have an IP back home and have found, for me, the most important thing when i’m over here is how much cash i’m going to have to send and more importantly, when. 2c currency shift can mean a few hundred dollars vaporised.
I had to work out my cash flow here first as start up is a nightmare, you are moving to a new country to start a new life. If you’ve been here before i’m sure you know what i mean.
As Paul mentioned above, your tax losses will accumulate but money is still being lost. This is not advice but for me, i can’t afford to just have losses building up, regardless. Mortgage structure is one of the most important things.
Richard (above) and Simon are invaluable sources of info.
Mail me if you need further info,
PT
That echoes a lot of what i thought but it just seems like when you read in papers (which i believe influence the mojority or property owners) that prices have fallen for e.g. 10%, is that real value, the price you are likely to pay or is it just a stat that holds no ground. In a lot of areas in southern Sydney there seems to be more property for sale but the price as stagnated rather than fallen.
I take it then this is going through the bust portion of the cycle and you savvy investors are running around getting good deals….. does that mean you were the ones also selling during the boom and collecting capital gain?
PT
Another good anti-virus out there is Kaspersky (Kaspersky.com) as it uses less resources on your system and updates little patches hourly. If you’re running broadband, log into the router and switch on the firewall there as well.
PT
I went through a stage where i went to a few of these and i had friends who paid the dollars for the training weekends, think Anthony Robbins, and yes they will hit you up for a $10000 weekend course.
My personal experience is basically, leave this stuff behind when it comes to self help, courses and seminars are not the answer if you have personal issues. People these days are not willing to take the time out and think about their situation and make an effort instead, they want someone to give them the answer.
On the site for the seminar it says “You will learn to Release False Associations & Limiting Thoughts such as It’s hard to make$$$”
How about learn from the people on this site who are already making the dollars.
I could go on all day about how these things don’t work…………. can you tell i’m cynical about this stuff???
PT
Hi,
Lately i’ve found this forum is very informative. It’s working for you as you’ve posted and are getting replies. The Jan Somers books are a great grounding and so is The Richest Man in Babylon. I agree with KRUPA, stay away from seminars, i’ve been to a lot of the intro nights, even Henry Kay, and some people in the crowd are placed on purpose to net you in.
Bottom line is, there is no get rich quick scheme, save your money and while doing that research everything and by the time you’re ready to invest you’ll have the money which to do it with.
Good luck,
Thanks all for the replies. It’s good to hear that some people aren’t in it just for the money and actually like to help other people.
I’m lucky as my accoutant is my dad and he does have investments but the banker he’s recommending is a friend who i know has made bad decisions so i’m not going there.
As for RE agents, i just wanted confirmation that they were what i thought, just something i have to deal with like paper work……. or the flu.
I find it hard socially as not a single one of my friends bar one couple invest in anything let alone property so i don’t seem to have the ebb and flow of ideas in a conversation. That’s why this forum is brilliant.
Thanks every one!
Also i might add the reason we don’t want to sell is in the 18 months we have been renting the place out it has been vacant for only 3 days so we can’t help but feel that later on it would return a solid steady cash flow.
The capital gains so far on the property has been minimal as we’ve only owned it for 2 1/2 years. It wouldn’t be worth selling i don’t think. But having said that, i read a rule somewhere which says if your property was your PPOR and you moved out, you can rent it for up to 6 years and if you sold it in this time you pay no capital gains.
That aside, i want to stick to the south of Sydney but there is no such thing as a property for 100 – 150k. A 1 bedder would still be 290k with rent of 200 – 250p/w.
It seems the best idea is to go on the cheap and buy small 1 – 2 bedders and wait.
It’s also not the easiest to search for a property when you’re in the UK and it’s in Sydney.
Thanks Simon,
Is Steve part of this forum? What are his details?
Cheers,
PT
Thanks Dazzling, my father is doing exactly that but i suppose i can only see the interest racking up and loss in sterling value and am starting to panic a little.
Also, like another poster on the forum, i bought in the south of Sydney, Sutherland Shire and the yield is on average %3 – %5. Sydney is in my opinion currently over priced and as such if i buy now i risk the value going down in the short term. That’s why i thought to pay off the IP but general consensus tells me that isn’t the smartest thing.
I figure you guys have been there done that so i’d rather listen to this advice than from people who haven’t done it and speculate.
Thanks for your input every body.
The problem with buying in the UK is that maintenance can often be high as most buildings in areas we can afford are over 100 years old. Plus, as security, if we were to buy here and then have to go home we’d be paying a mortgage in pounds.
Would the consideration of more purchases be based on the reasoning that the long term capital growth would out way the short term losses due to negative gearing?
