Forum Replies Created
C’mon, you are rich now Chan.[greedy]
You have 7 properties.[biggrin]
I know where to go for a lazy ‘C note’![bandana]
‘Eat rich food, barbeque a yuppie’ [greedy]
Maybe I have missed a post of yours somewhere Russ, but if you have so many +ve CF deals available, why don’t you buy them yourself?
If I was in your situation I would buy as many as I could.
Perhaps you have as well, let us know?
‘Eat rich food, barbeque a yuppie’ [greedy]
I agree with Russ.
Also;
Have you factored in council rates, water rates, insurance, maintenance, pest inspections, letting fees, PM commissions etc?
Does it still return a positive cash flow?
‘Eat rich food, barbeque a yuppie’ [greedy]
Do you have a PDA? You could do it with your mobile.
‘Eat rich food, barbeque a yuppie’ [greedy]
Originally posted by RussH:I have 2 children living in Collie and a third about to build there.Whilst australind and Bunbury are hot favourites for there coastal location it doesnt necessarily mean that everyone will want to live there.
You are correct, not everybody wants to live their, but the City of Bunbury is growing much quicker than Collie. It certainly points to a better area to invest for CG.
Property has risen from 50k to 70k in the last year or so and it is still rising.I think you will find that Collie’s prices have been artificially inflated by some Eastern Staters who think they have found the end of the rainbow. I see no reason for the prices to keep moving up and they will probably fall once the buying frenzy finishes.
The cheapest you will get in Bunno is 120k maybe.It surely doesnt point to a +CF does it.
I bet you didnt pay 50k in Australind.And I also bet it isnt +cf.No and yes, Russ.
The house is more than $120K and with depreciation is +ve CF by more than $35 p/w. Whilst it is only +ve through depreciation, it is still +ve and the CG will be so much higher than Collie IMHO.
Thats what this site is supposed to be all about isnt it?
Yet most of you investors are into -veWell, I can’t answer for everyone, but personally I am into making money. I have diversified my investment portfolio so that I have a mix of +ve, -ve and neutrally geared properties and shares. My situation is different to some, I realise, but I see this site as a way to learning about property investing and not just heading blindly down a one way track to the ellusive +ve CF property.
I don’t care what anyone says, good +ve CF properties are very hard to find now (not impossible). It has taken me a long time to find the ones I have currently. +ve CF properties will become even more scarce in the next 12 months IMHO but that won’t stop me investing.
When I was about 18 and started getting interested in the share market, my Dad told me always to diversify my investments. He has become pretty successful with his diverse investment portfolio, so I guess I am just taking his good advice.
I seriously doubt there would be many on here that would argue against diversification if they were in a similar position to me.
Even Steve says there is a point to investing in -ve geared properties. It all depends on what your goals are; what you hope to achieve in the short and long term.
‘Eat rich food, barbeque a yuppie’ [greedy]
You need someone who will read every bit of fine print and do every search imaginable that could be required.
Yes, you will have to pay extra for the searches and their time, but it is invaluable. Ours is around $1000 per property but worth every cent. If you are investing your hard earned cash somewhere, don’t you think it is worthwhile getting the best help?
‘Eat rich food, barbeque a yuppie’ [greedy]
Originally posted by redwing:Agree with the fact many workers travel from Bunbury or Australind..
Kemerton was the town of 200 rentals required, haven’t looked at the issue though, have you ?
Goody, goody
As an Eastern Stater, I thought I would get in on this thread.
I thought the same about Collie last year and stayed well away. It looks dodgy with half of the town sold within 12 months.
I have actually just invested in Australind and I did the homework prior. I agree with Redwing that the area is taking off as a satelite suburb of Bunbury.
I will be over in May to look at my investment and any others that I may find.
I know the area a little and it has grown astronomically in the last 5 years. Collie may end up a bit of a ghost town.
‘Eat rich food, barbeque a yuppie’ [greedy]
Originally posted by kay henry:Why do you need to make STD phone calls to do property research? All info you need should be on the net.
kay henry
Kay
Sometimes I think it is good to talk to locals to just get a feel for the place. Unfortunately the net can’t give you those feelings!
‘Eat rich food, barbeque a yuppie’ [greedy]
I believe this is meant for those who go overseas for an extended period of time.
Some friends of ours are in the process of selling their Sydney residence (they now live in the US) as they have almost exceeded the 6 year limit. I also believe it affects CG too.
‘Eat rich food, barbeque a yuppie’ [greedy]
Originally posted by Pisces:>>I only bought one book….. <<
Well that explains it all. just goes to show you one cannot, shouldn’t, do things on the cheap. [evo]
Pisces
Well I only bought one book and it came with the ‘get rich’ pill. I found it pretty hard to swallow though!
‘Eat rich food, barbeque a yuppie’ [greedy]
Originally posted by bashiba:Does that mean then that any +ve cash flow property you buy without having to find any additional money is a good deal? Any extra money coming in in that case would be an infinite return on $0.
You are correct here. Personally, I am looking for zero deposit +ve IP’s. As you can imagine these are very hard (two in 4 months). You need a yield of around 16% for it to work.
We have loans secured against other property for these so we are not using the current equity we have in our other IP’s to fund purchases. ie. we cross colateralise the loans. At this stage we are happy doing that.
You are probably like us and have been paying off our PPoR first instead of saving money for investing/holidays/renos etc….
‘Eat rich food, barbeque a yuppie’ [greedy]
Yeah well done Pisces, keep up the infotainment!
‘Eat rich food, barbeque a yuppie’ [greedy]
[
It would be nice if there were someone closer to the centre of politics…. for the moment the big X gets my vote.Maybe that should be our new political party against these new taxes. ‘X’, I reckon we could get a few votes if the ballot papers had a party just simply called ‘X’.
What do you reckon?
‘Eat rich food, barbeque a yuppie’ [greedy]
Originally posted by Derek:
[Land tax kicks in at a very low level (around $10K from memory) whereas Q kicks in at $270K (also from memory).Just to make it accurate,
Land tax kicks in at $50,000 in WA and $275,000 in QLD. These are for a person owning property not a trust. In QLD, if you have property in a trust you pay land tax from the first $.
‘Eat rich food, barbeque a yuppie’ [greedy]
Pickles Auctions do a fleet, reposessed and lower prices cars and commercials (vans, 4WD’s etc) on a Wednesday starting at 9.30am. They are located at Belmore. Their website will have all the upcomming stock although, it may trake until Tuesday to get a full listing.
You can give it a go, they guarantee title but as any auction goes – caveat emptor (buyer beware). If it goes bang after 1 week, you cannot get a refund!
‘Eat rich food, barbeque a yuppie’ [greedy]
Originally posted by Chan$:NSW:
Investors currently running away! and buying IPs in other state. QLD will be the first target then SA.Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]you hope Chan[biggrin]
‘Eat rich food, barbeque a yuppie’ [greedy]
You pay extra stamp duty on your mortgage not on the property. There is a HUGE difference.
I have learnt that there is only so much exercise my body will take in 4 days before it shuts down on me!
Me this afternoon>>>>>[sleepyanim]
‘Eat rich food, barbeque a yuppie’ [greedy]
We only had our PPoR when we bought the QLD IP. This meant that we paid stamp duty on our loan facility for our NSW PPoR and the QLD IP. I don’t know anything about a refund though, you may be misinformed there.
Our WA property is still in the early stages, so we have not yet drawn down hence no stamp duty. Although it actually works in our favour in WA as it is the only WA prop. we own at present. The stamp duty on mortgage is actually less than what it would be outright. This is because we have most of our investments outside WA. It sounds confusing and the formula used to work it out is on that weblink.
Basically we need to get all our IP’s valued at the highest price to reduce the stamp duty on the mortgage.
It sucks, but there are some greedy governments who like to take advantage of the investor.
I would love to know if you are succesful with a refund though, as my wife and I could also get in on it. She did some pretty heavy checking last time though and as she is a solicitor, she is pretty good at finding any loophole.
‘Eat rich food, barbeque a yuppie’ [greedy]
It is common knowledge that this government actually received less than 50% of the vote ! So it seems that the majority of the people actually were not in favour of a GST, and it is only due to the vagaries of our voting system that brought the Howard government a second term.Ahhhhh Jerzy, selective memory is a common afliction isn’t it. Bob Carr won the last election fair and square, a clear majority. This wasn’t the case at the election before was it?
He got in on preferences only and actually received less than 50% of the vote.
I agree with mysta – let the sheep stay at home and let the people who have a clue on whats good and bad for the country vote.
‘Eat rich food, barbeque a yuppie’ [greedy]
Found it.
Here you go
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=8874
‘Eat rich food, barbeque a yuppie’ [greedy]
