Funny, that’s the same one I received yesterday… I recall a story in the Good Weekend section of The Age a while ago which had the stories of some of the people in the US who had been ripped off, with some even killed after travelling to Nigeria.
There has been a lot of discussion about this, and if you’re willing to wear the risk of basically defrauding the government for your own personal gain, go ahead. Personally I don’t think using the FHOG for an investment property is ethically right. You have to live in it at some point. If you’re going to live in it, even for a little while, no problem, go for it, if you’re not intending to, then I guess you can cross your fingers and hope you don’t get caught.
I think several of your statements are a gross over-reaction.
Yes it’s fine to be yourself, but whatever happened to that simple word respect? Not just for you but for others as well… or is the world getting to be so tied up in me it’s too easy to forget we ?
It’s your choice whether you stick around or not, just as it’s Steve’s choice to moderate what tone he wants on a forum he has set up so that the property investing community can get together and exchange ideas. If you think we are “sheep being led to a financial slaughterhouse” then that’s your opinion, and that’s fair enough. I just don’t quite understand why you would waste your time and bother to come back here if you think that’s the case. Personally, it doesn’t bother me if you’re here or not, people telling me I can’t do something gives me even more motivation to prove that I can do it…
I also beg to differ with your assertion that as soon as someone says “hang on this doesn’t work” things fall apart. That is way off the mark. It is only when things get aggressive, personally insulting and disrespectful to each other that it begins to fall apart… just as it is in life away from the forum.
Arty,
I’m on 60 acres up near Kilmore… spent a lot of time researching prices etc before we bought 12 months ago, and up that way is definitely where you get best bang for your buck… prices have moved since we bought, but it’s still affordable… I commute each day into Richmond, it’s 60 minutes at the moment, but once the Craigieburn bypass goes in it’ll come down by about 10-15 minutes. Cheers
r
You two are some of the ones I was referring to in terms of the “old timers” whose posts made me keep coming back in the early days, which really isn’t that long ago… and that offer to help out with a reno for you still stands… not sure if I’ve given you my email… [email protected]
It’s not just a joke on the government, by extension it’s a joke on us, cos we’re the suckers paying for these people via our taxes… that’s what gets me angry.[!]
I have to admit I don’t read many of crashy’s posts (sorry crashy) but some of this stuff here is bordering on defamatory, so I’d make sure I was certain of things before I started making assertions. I don’t know either way if he’s the real deal or not… but I do know that people can be defamed via internet forums.
We rent out our holiday house over Xmas… no problems until last year when we went down one weekend and found the screen door leading out to the decking was totally destroyed… from the empty stubbies and cans it was clear whoever rented it out had quite a party… Not expensive damage but annoying none the less.
We went to the agent, who was supposed to inspect it before giving the bond back, and he blamed the cleaning lady who he was relying on to give the place the once over, in both a cleaning sense, and an inspection sense… not good enough, and we don’t use them anymore.
Wow Judith, that’s really good stuff from your oldest son… good on him!
steveod:
If kids purchase and decide they don’t want to move in (they possibly will move in, but not 100%), we would advise FHOG of this, not wait to get caught. Would there still be a penalty under these circumstances and do you still think this is unethical??
I think if you advise FHOG of this you wouldn’t get in too much strife because you’re being honest, and that’s the key, but I’m sure there’s government departments that could answer your question properly.
By the way, I only think it’s unethical if people use the FHOG to buy places that they never intend to live in. People no doubt do it thinking they’re clever ripping off the government and claim they “deserve” the money, but I don’t think that’s right, ethically or otherwise. Maybe I’m jsut being idealistic.
I’ve been criticised for this view before, but it’s just my opinion, so just because it’s different to some doesn’t make it wrong.
I think it’s unethical to use the FHOG if you don’t intend to live in the place… that’s not what it’s intended for, and if you’re willing to take the risk of incurring penalties when you’re caught, that’s your choice. Going off topic a bit, I also think it’s ridiculous that people buying properties worth $1-2 million can get the grant… what a joke. The legislation should have been thought through a lot better.
On the one hand we’ve got people criticising the way our taxes are spent, then on the other we’ve got people who are willing to pull shifties to get something out of the government… it’s quite a polarising discussion.
By the way, I think it’s great that you’re trying to help your kids, I just don’t think this is the way to do it unless they’re going to live in it (at least for a while).
cheers
r
As Steve said at the top, constructive criticism is a good thing… malicious criticism is not. Also, I’m quite certain that the majority of people here aren’t fools who think the real estate boom is a never-ending phenomenon. Please give us more credit than that.
There’s been a lot more postings of the malicious type creeping into posts over the past few weeks as opposed to the tone of posts several months ago, which in turn drags down the quality of information on the boards to the point where a lot of the regulars simply don’t post much anymore, which is a real shame because I learned quite a lot off them, as other people could too.
I’d like to see more of the constructive, encouraging posts… no-one said property investing was easy to do, in fact Steve has made it pretty clear that it’s bloody hard if you read his book and let it all sink in, just as those of us who are buying know all too well. I don’t see the point of posting the “it’s all too hard” type messages though. Is the glass half full or half empty?
Yes, there are many who seek easy answers and don’t do their homework, just as there are in every investment arena… people who think they’re going to make their life’s fortune in 5 minutes are sadly mistaken, and to be honest, I don’t think there’s too many of those types that frequent the boards… Those people might be in a bit of trouble down the track, I guess time will tell. In the mean time, I’d just ask people to make their criticisms constructive, don’t be mean to people who might not know as much as you do (or think you do) and re-establish this place as a great website to visit.
I have to agree with you… we (Channel 9) ran a story on the news tonight about kids with cancer being turned away from the Royal Children’s Hospital when they should be receiving adequate, compassionate treatment. State Govt blames Feds for the problem, Feds blame the State… in the same week that Costello announces a massive multi-billion dollar surplus… something ain’t right there… let’s get our priorities right and I’m sure that people won’t have problems paying fair taxes as long as they’re spent correctly.
Like ez-rent said, this is propertyinvesting.com.. there’s other forums on other websites to discuss other strategies in depth… doesn’t mean others can’t be discussed here, but I don’t see the point in making this website forum “open slather”… maybe crashy can create a forum on his site to discuss shares etc…
good on you if you get there… I’m still in the dark… of course I “get” concepts such as leveraging, but are you a buy and hold man, a wrapper?? Is your name the one that goes on the title? Is it possible to give a little more detail in your answers? I’m only into buy and hold and have a secure job with plenty of equity across my portfolio… so I’m not about to follow your example, I’m just very very curious.
sooty pooh, I pointed out that I wasn’t having a go at insider and I didn’t say it’s impossible…
In your examples, it’s not doing on your own, it’s in partnerships…