Forum Replies Created
Take the $20K and put it all on black.
Thanks Terry
Welcome Zac – there's plenty to read on this site.
You will have different LVRs on the shares compared to the Commercial IP. Different rates may also apply – so you may need to consider how you structure your loans.
SamSavva wrote:Can everyone look into their crystal balls??sam
Oooh! I see an inverted me in the reflection.
2) You can't transfer the income between different owners unfortunately.
3) You haven't taken into account how much rent you will need to pay in the new house, so although the income will be about the same as the rent, you will need to stick your hand in your pocket to cover it (a bit of swings & roundabouts)
How to make $1M in property/shares/whateverelse takes your fancy – Start with $2m and believe that it is a 'set and forget' investment which doesn't require any further tending for 5-10 years (or longer).
You've lost me on that comment Shahin. NG is the reason many invest (ie to lose money, hopefully short term with capital gains benefit at the end of the day). Development is based on the premise that you buy a raw site (greenfield/brownfield), add value (DA/Construct/Subdivide/Extend/Refurb etc) and sell at a profit or change from -ve geared to +ve geared due to increased income from the site. Correct me if I have been wrong for the last 20+ years (or did they rewrite the fundamentals while I was at dinner?).
No photos Derek??
The only upside is that if you do make a capital loss by selling a non-performing asset, the loss can be carried forward indefinitely and offset against another capital gain when you come to sell a highly performing property or your share portfolio.
Good points Derek makes, what is the path to be used for? It will be a PIA if they have to take the mower down that side and it will end up as a bigger maintenance issue compared to concrete but if it is a few steps to the side door only, then not a problem. Also lets you know someone is walking up the side path when they step on the gravel/stones and off the concrete blocks.
This is the link to the NSW OFT Licence Checking Website – for builders, real estate agents, conveyancers
Just like capitalism mattsta. Every system has its flaws and will fall apart one day. Communism is changing (the bods at the top became fat and lazy), socialism (the bods at the top become fat and lazy), Capitalism (everyone in the middle and top become fatter and lazier) and the system may implode unless it is continually propped up by the Chinese who are buying up the US/Euro debt.
Jamie M wrote:Don't use one recommended by the real estate agent.
if you are the buyer. Wouldn't use a solicitor that they suggest either (although they are meant to be impartial).
Nothing comes to those who just wait. It is a lot of hard work getting the listing – you need to be a known quantity in the market (being a part of a franchise helps), known locally ie have been working in an area for a while, links with local community groups to raise your profile, cold calling, door knocks, promotion (adverts), promotion (letterbox), (shameless self-) promotion.
An agent can only operate independently if they hold a licence through fair trading/v cat etc. Most salespeople property managers only hold a certificate of registration (2-3 day course) which provides the basics on the laws, and how to prospect for sales.
Get in a car and have a look around the areas of interest, see what your $$ will get you for your price range in each area and compare gross returns.
Probably not tax problems but serviceability problems for your loan – you may have to declare any change in circumstances to your bank/financier.
Consider using a buyer's agent – they can provide a lot of information, organise building/pest inspections etc.
If you had any works done to the house the invoice possibly puts it as the mailing address.
Take your address details out