Forum Replies Created
Thanks for your advice, Mortgage Hunter. Sorry not to reply sooner – been away. I don’t get a lot of time to chat on this website, but I do like to keep up as much as possible as there’s a lot of information to be gained here and I like reading the posts.
I’ve EMailed you and Ezy privately. I know there’s a no ad policy here Kay Henry but I didn’t think my post was any worse than some people who blatently advertise eg spotter’s services.
It was a genuine question as it has just happened and I don’t want to make the same mistake again. I’m also frustrated as I was hoping to sell before 1st June.(new vendor stamp duty)and this was a likely prospect two months ago.[glum][glum]
Yo Ho Samwise
Thanks Terryw and annaw2 – I thought that was the case
– I’ve asked my accountant – my wonderful partner – who doesn’t have a clue.[hmm]
Yo Ho Samwise
Eljay,
It stinks, but after personally taking the LTO to court over Land Tax issue which we lost (even though we had all the facts and logic on our side), I wouldn’t hold out much hope. Hope you can get a revaluation.Yo Ho Samwise
Quote:Originally posted by Cheata68:
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Cairns is a hot tip, people are moving into the area from all over Australia, they estimate in 20 years the population will double.Hi Kev,
I agree – Cairns was mentioned in the media as one of the next hotspots. However, with this and other places mentioned, how do they sustain the job situation – how can for example -double the number of people moving in – wouldn’t there be a limit as to job vacancies in these areas?Yo Ho Samwise
MS Outlook Calendar facility to mark (with a two week warning bell) in when my leases are expected to expire. I get in contact with the PM at this time and remind them that the lease is due to expire and they need to find out what the tenant is doing and take appropriate steps. If they are moving out – start advertising, if they are staying renegotiate a new lease.
Derek
Derek, Is there an advantage in doing this? Most of my tenants are on expired leases and going along fine.
Yo Ho Samwise
Originally posted by PurpleKiss:
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By the way, I though it was sold as at change of contract too, but can’t you check with your settlement agency or soliciotr or whatever it is your state has? Best to get the correct answer from the professionals, that’s what you’re paying them for.Solicitor is unsure as it’s new legislation yet to be introduced. I have found solicitors are not always too cluey. – no offence to any solicitors on this forum.[blush2]
Yo Ho Samwise
My understanding is that the contract stands as is – you can’t renegotiate the price. However you can make requisitions on the existing contract that the seller fix whatever – the seller has the right to accept these requisitions or he can pull out.
Yo Ho Samwise
Hi Jo
Steve advised me not to take out too much equity in your ppor – 30% mortgage at most. You don’t want to end up losing your home. I have refinanced my IPs so they stand on their own and some are mortgaged 105%, so if anything happens I won’t be bankrupt.
I don’t think you need to put a figure on what you owe, just take care when you set things up.Yo Ho Samwise
Congrats on your new status Chan – Ive always found you helpful and fair.
Yo Ho Samwise
Jo
I’m not familiar with Melbourne but sounds like you were in the right place at the right time. I’m from Sydney and market is definitely softening now – tried to sell at aucvtion and ony one bid..
Yo Ho Samwise
Wow Monopoly that’s a lot of profit – where was the property?
Yo Ho Samwise
Thanks for your reply Monopoly – Does anyone else think a property is sold on exchange of contracts?
I agree that any amount for deposit is ok if seller agrees. The purchaser is still liable for the full 10% if he reneges on contract. – Usually states this in the contract.Yo Ho Samwise
Terry W – What is short term money lending with caveats and how do I get into it?
Thanks,
Samwise[buz2]Yo Ho Samwise
I’ve just learnt that Cat in the Hat is a funny film – took my daughter today.
Learnt nothing to do with investment however.Unless it’s worth investing in children’s films.
Tegan[biggrin]
Nice to hear people’s plans/dreams for retirement. I agree that you never retire so much as keep busy doing things you like and hopefully earn enough to live on. I’m an older member of the forum – 50 – which is ancient to some people here I know. I just wanted to let you know my experiences
– I’ve had a career in management for 20 years with a fairly large salary. I was really interested and involved in my career until the last couple of years and began to dislike it – I had pressure from new bosses and increasing workload – no time for my 9 yr old daughter. It started to affect my health.
It took me a while to move out of my comfort zone and resign which I did in January. It was scary as I lost my big income. Now have to rely on hubby’s not too big income. However, I’ve never felt better and I’ve managed to get a casual paid job in a completely different field – more meaningful for me – working for a non profit organisation dealing with kids in social service capacity. I haven’t started this yet and am a little anxious doing something for the first time. However as I said, I feel really well now – I could have stayed in my other job for the next 10 years – but I’m sure it would have affected my health so much I would have probably died on the job – don’t think it was worth the money.
Money isn’t everything. Only one life so do what you’re happy doing.Cheers,
Tegan[strum][strum]Jerzy, Sorry if I misconstrued your intentions. I’ve been a swinging voter in the past and have no leanings one way or the other – except for now -as I stated Labour stinks – their mismangement of our money results in a sneaky tax being introduced.
I agree with Rugbyfan – new party called X – would get a lot of donkey votes anyway.Jerzy, as I stated, I bought the ips as long term investments -so won’t be giving you any bargains!
As for not being able to do anything about the new stamp duty tax, we can join the Propert Owners Assoc, write to newspapers, politians, make our voices heard. Anyone got any other ideas? [glum2][glum2]
Tegan[thumbsdownanim |How many votes do you think this would have cost Bob Carr ? All the voting public would have seen, was a bunch of property investors crying poor.|
Jerzy,
Don’t let your political persuasions get in the way of fairness. 40% of all NSW property buyers are investors – a significant amount I would say – compared with only 11% first home buyers – and a fair percentage of these are buyers of property over $500000 in NSW, so exempt from any gain from the new deal.
I agree completely with Steve Mc – this new stamp duty tax is fundamentally wrong. I have paid this Government a lot of money in stamp duty over the last two years buying three investment properties and a new ppor. I am not rich – I bought the investments from equity in my home – as a long term strategy for retirement. These properties are only just viable and to think I’ll have to pay more tax when I do eventually sell is disgusting. What has the Govt done with the huge surplus of money from stamp duty during the boom last few years? I have no confidence that they will do any better with this “extra” tax. Having been told that baby boomers will have to fund their own retirement, what incentive is this?I will never vote labour again – and this includes the Federal Govt – who do have elections this year – maybe if we could put some pressure on them, Bob Carr may think twice.
Make your voices heard – don’t let them get away with it!!! ENOUGH IS ENOUGH !!!Tegan
I’ve had two in the last two days and also receiving message re failed EMails from postmaster to Richmastery.com. (Which I never sent)
Someone is using my EMail address which they might have got from this forum.Tegan
Steve,
I would have given him the $5000 for sheer bare faced cheek. After all, we all know how hard real estate agents work for their (many thousands of) pittance(s).
He would have then been so grateful that he would have sold me many more bargains since.Is this a serious question??
Why? It seems obvious what the answer would be?[?][?]Tegan[8D][8D][8D][8D]
Thanks, Rugbyfan,
It depends what you think the formula should be – as long as it pays the mortgage and gives a small return on top (using opm )then can’t be too bad. I don’t think you’ll find 13% these days. But let me know if you do – and where – I’m into renovating properties and onselling.Warm regards,
Tegan
