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  • Profile photo of sandyvgsandyvg
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    @sandyvg
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    Post Count: 18
    July 18, 2009 - 9:49 am

    Thanks very much for the input. will read all above

    Cheers!

    Profile photo of sandyvgsandyvg
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    @sandyvg
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    Post Count: 18
    July 8, 2009 - 8:08 am

    Thanks for comments and info. Much appreciated! agree with all you have said and will make more enquiries.
    Cheers!

    Profile photo of sandyvgsandyvg
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    @sandyvg
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    June 29, 2009 - 12:18 pm

    Much appreciated info. Will certainly look into it. Can you give me an idea of the costs involved in setting up a SMSF and management fees I would be likely to pay? Then of course there are fees for property etc but the initial costs interesting.
    Thanks

    Profile photo of sandyvgsandyvg
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    @sandyvg
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    June 29, 2009 - 2:35 am

    Hi

    Many thanks for the input.  Are you available after hours to speak with on this number?  I am also looking into Self Managed super funds for other options and advice.

    Thanks.

    Profile photo of sandyvgsandyvg
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    @sandyvg
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    June 24, 2009 - 2:53 am

    Thanks for the positive input. VERY much appreciated. Yes..AM a positive person and things like recovering from sickness makes you even more so.
    The b$#ch is I am paying high level of tax when if could swing it somehow that could be used to offset to sort all else instead of it going straight into the tax coffers while am getting on my feet. But will keep thinking..while saving!
    Cheers

    Profile photo of sandyvgsandyvg
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    @sandyvg
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    June 23, 2009 - 2:14 am

    Thanks..sorry..forgot to mention (and wasnt part of the current scenario for the info at first)…but to put you in the picture ..had been sick…cancer…now all good but debts were from managing medical bills and living expenses with time off work when live alone…now on the road forward and in full remission….only been on that income for 3 mths and a marked increase from the income before.
    Appreciate suggestions though and can make positive moves for living now! :)

    Thanks

    Profile photo of sandyvgsandyvg
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    @sandyvg
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    June 22, 2009 - 8:27 am

    Thanks Maree..sugar daddy..hmm..anyone know any that still has all his hair and teeth? Maybe I am on the wrong site! lol

    Spare room..yes have one but work from home alot and not good for someone around. Am a Business Analyst so full on concentration all sorts of hours needed at times when not travelling away.

    Extra income – interesting….will give that some thought. Could be an option once it comes to me of what else I can do for the money..lots of!

    Thanks again. Keep the ideas coming! All welcome and considered.

    Cheers

    Profile photo of sandyvgsandyvg
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    @sandyvg
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    Post Count: 18
    June 22, 2009 - 3:35 am

    sorry..should have ended message with…
    keen to do something if CAN! If cant..suggestions for future maybe?
    Thanks all

    Profile photo of sandyvgsandyvg
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    @sandyvg
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    April 15, 2004 - 11:17 am

    Hi all that responded..update here from todays developments….

    Lucifer..had to move in 2 weeks so decided to take a cheaper place today to live on my own..rent only 210 per wk and walk to work so less costs etc while can live on my own again. YES! move 30 april. also saw a mortg broker friend for advice. He said..cut up CC! save money..pay off debts like YOU said and see what market does in next 6 mths when more likely to be able to borrow. SO thanks..all advice is good on same day!
    Decided not to go ahead with unit..altho vendor dep maybe available but BC fees 900 qtr. rates not sure but she wants top price. In six months will be alot less maybe and another place there cheaper for sale. I work in real estate office in systems not sales but at the front line for the cheapies coming in the door in 6 mths too!
    anyway to answer question..unit 1 brn gc great views, top cond all new reno..240,000. she asking 300 rent p wk return and may get it. so later..options available..meantime has lead me to this site so is great for more an more knowledge.

    As per my daughter..she will get job..sort herself in 6 mths..mum cant help this time..CC up cos of kids as well as medical bills and now have to sort it all.

    So thanks all..advice well received and appreciated..while saving will spend time on net on here for company and advice!
    Have a wonderful weekend all…
    take care
    Sandy

    SandyVG

    Profile photo of sandyvgsandyvg
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    @sandyvg
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    April 14, 2004 - 12:57 pm

    Thanks Picja..

    55k is gross. About 41K nett.

    based on your replies..I need to..

    consolidate all my debts somehow with some nice lender!..

    go shopping for a new apartment with a vendor leaving in the deposit…

    shift and smile, build equity, then look at doing same for a tax deduction as an investment to cut down the tax to ATO on my 55K!!!??

    Thanks for the motivation..now just have to find the right lender and vendor match….hmm.may even take up poetry!…:)

    Sandy

    SandyVG

    Profile photo of sandyvgsandyvg
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    @sandyvg
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    April 14, 2004 - 12:28 pm

    Hi Gately..

    Interesting reading and replies so I thought Id pop in as a ‘sample case’ on someone looking at needing vendor finance and why.

    I am a new addition to this forum too, only joining yesterday but so much info cant keep away from it and am now hooked as to how I may get going in life again, and now with all this info and connections and opinions etc is only a matter of when!..:)

    My details are on the forum as questions, but briefly…life dealt me some not so nice stuff in last few years. medical etc and am on my own with no start up funds now but medically cleared from cancer..yahoo!…and have good employment….but earn 55,000 per year BUT no deposit and some fairly large debts resulting from the costly cancer and time off work etc blah blah. You cant get cancer in Australia for free you know! You have to pay for it!!. (A mention needed I think to the govt in another forum somewhere from me!) so the normal banks wont even look at me. Cant save AND rent by myself etc etc..so..looking at all sorts of options.

    So I dont consider myself a a lower socio economic with the rest of the presumed bunch of needy without a deposit, and only yesterday had this conversation with a company who only did vendor finance for their matched tenants and landlords, but fair trading I think had issues with it on a large scale? Not sure of details, but could be something to look into for you.

    Good luck to you..although you have done ok so far Id say! And thanks for all your advice in your emails for me…am adding fast to my skill base in investing and finance etc and now hooked on this site.!..:)

    Sandy

    SandyVG

    Profile photo of sandyvgsandyvg
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    @sandyvg
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    April 13, 2004 - 11:56 am

    either go to a local agent in the area and offer connections for spotters fee of 20% of the commission..or better still one of you get your licence, work under a Principals licence that you can trust…and go from there.

    Or..set yourself up a website for agents to access..let them find you if you have the properties to connect them with. They are always hungry for listings!

    good luck!
    Sandy

    SandyVG

    Profile photo of sandyvgsandyvg
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    @sandyvg
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    April 13, 2004 - 11:33 am

    dont forget about the tax deductins in 15 years. depreciation saved if your other tax debts are large so therefore added reduction to this is your run down shack! Meybe the govt can pay for some of it in the turnaround of it all?
    Or..ever thought of selling out to the tenant, refinancing it yourself if need be. Karma to help someone else out who cant afford a deposit, but could maybe fix it up in 5 years (have to sell in 10 not 15!), and win win all around! They may continue paying rent towards a deposit, then take over your prob when you are ready.

    Sandy

    Originally posted by lawrence:

    TO find, because I grew up in parts of NSW/QLD/WA where these sorts of properties are thriving. The only problem is that they are usually all run down shacks, yeah sure you get the positive cash flow, (my goals arent’ even that ambitious, rather money that creates itself, s.i.s termed it as neutral gearing) BUT the question is, since these properties are usually very run down, what happens in 15 years time when the property needs extensive maintainence i.e much more than a coat of paint or new carpet. At this point, buyers aren’t interested and there is but a large bill for repairs. Any suggestions? NOTE; I am not looking for problems, just preventing them from happening. Is any one else in the same frame of mind? i.e Buy shit heap for + cash flow, happy for 15 years, then stuck with expensive repairs. What are your ideas people….[:)]

    SandyVG

    Profile photo of sandyvgsandyvg
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    @sandyvg
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    Post Count: 18
    April 13, 2004 - 11:16 am

    Hi Elvis..I have heard Auckland is experiencing some good rental returns on property recently and increasing.
    re tax info..would pay to check out with both countries tax laws as they are changing a reciprocal agreement I think. To do with being able to claim a tax loss from a property in NZ if you are living and paying tax in Oz. (Claim on Oz if lose, but also pay if gain.)
    Good luck
    Sandy

    SandyVG

Viewing 14 posts - 1 through 14 (of 14 total)