Forum Replies Created
Lesia,
Interesting post, I have two houses in Gunnedah one in a housing commission area, that has been rented since I bought it in December 2008. Which street is your house in?
Sonya
The biggest tip is research,research, research. Read as much as you can about the type of property you are interested in, the areas you are interested in as well as the property strategy that interests you. Do you want to buy, renovate and sell? or do you want to buy and hold, or develop land? Do you want to have negative or positively geared property? as far as the courses go I have not had ant experience with either of these people so cannot comment in that regard
Cheers
Sonya
Hi,
I have found Margaret Lomas writes good and practical books from an Australian perspective.
i live in Griffith. NSW, not ACT! Anyone else on the forum live out this way and want to travel together?
My budget strategy is staying away from teh shops, unfortunately doesn't always work!!
I did start writing down everything that i spent money on, it does make you notice the unnecessary purchases. My biggest unknowns are all the things that the chidlren are asked to pay for at school. There is not a single week when we are not asked to pay for something. I should raise this with the school. being a teacher myself, my children are asked to pay for a whole lot more than the children that I teach.
Cheers
Sonya
Hi Sounds very interesting, i will have to get out of bed early to make the 10 am start!! i live 3 1/2 hours away, but it looks like a worthwhile day. Will have to see if I can offload the three rugrats!
cheers
Sonya
Sorry,
Should have visited the site before asking the question..
Sonya
Hi,
What's the cost to attend?
Sonya
I don't know the answer to that one. maybe the older posts will shed some light on it. I am sure that the house removal company would ba able to give you some idea as to whether a property that you found would relocate okay. Then check with your local counsil regarding building standards for the area where you wish to locate the house. There maybe restrictions regarding florr size of the building, footings (exposed or inclosed) building materials brick, weatehrboard etc
Sonya
Try this link on ebay, not sure what style of house you're looking for, but this one has potential.
Have a look on ebay, there are usually one or two houses aeek on there for relocation, some go for as little as a dollar. these are usually ones that are on blocks of land that are being developed. Not sure how many there are in Qld, but may be worth a look.
Cheers
Sonya
HI i was looking at this option a while back look at some old forum posting, there are some good comments there from people who have 'been there, done that'
Are you looking at moving a relocatable home or one that can be moved but was not purpose built for relocation? Some home do not transport well and you are left with expensive repairs to internal walls, tiling etc.
cheers
Sonya
HI,
in order to be able to give any real help, we would need to know a bit more regarding what property price range you are looking at purchasing, joint income, etc.
If you did buy a property and live in it for six months what would you do after the six months is up? That is would you be able to service the loan repayments as well as pay living costs for your alternative place of abode rent/board etc?
Some areas appear to be dropping in value as FHO find that they can't keep up with loan payments, if you are looking at these areas you may find that prices ease off in the coming months. Depends on who you listen to, a few conflicting opinions on property prices at the moment.
cheers
Sonya
Hi D,
I know how you feel there are lots of people who are willing to knock others and their efforts to 'get ahead'. I think it is Rober Kiyosaki who says to take and seek advice from those who are doing what you are doing or wanting to do. Maybe the knockers are jealous of your desire/ability/guts to get out there and have a go. if they are critical ask for constructive criticism. What are they doing? how do they do it? What success have they had? If they haven't get any 'success story' to share then tell them to keep their negativity to themself.
Chin up,
We know that you are getting ahead for your family
Cheers
Sonya
If you own the property then you cannot claim tax deductions for things such as your interest on loan repayments, Whereas if you still have a mortgage on the property then you can claim your interest costs etc. you are better off having a loan against the property otherwise all of the rental income is classed as income with no costs to claim against. There are a few posts on this perhaps try searching for a topic such as benefits of Interest Only loans and/or Best financial structure etc. Also if you wait until you have paid off the property before you buy again then you will be out of the real estate market for a much longer time and may find yourself priced out of the market.
cheers
Sonya
One of the other 'benefits' of investing in lower socio-economic areas is if the tenants are on some type of Centrelink benefit then have the agent set up a direct rental payment, this avoids the tenant falling behind in rent. Costs 99c a fortnight, claimable and money well spent.
Fatboy,
I have bought a number of my properties in ex housing commission areas. I have been reasonably lucky, one tenant has been in the property from the day that I settled over two years ago. The other haouse had a tenant who looked after the property, however, she had ongoing fights with the neighbours, police being called etc.
Unfortunately we can't control neighbours in area and/or the interactions of our tenants with them.
I agree that i would not have been able to get into the real estate market without being able to buy these lower priced higher return properties.
Sonya
Steve,
Could you PLEASE STOP spruiking this link. YOu have not offered any reasonable of helpful insight or suggestions. This site IS NOT for spruiking yours or anyone else's business!
(moderator note. The offending post has been deleted. Please feel free to report posts like this using the abuse function at the bottom of each post. Have a great day).
Further to previous post, the only broker that i met in the flesh was the one who told me i could not borrow any more money. Both of my other brokers are based in QLD, i live in regional NSW and other than my PPOR and newest purchase, i have not physically visited my investment properties.
In this day and age with the internet, email, fax and telephone we do not need to live in close proximity to where we invest or to our advisors.
cheers
Sonya
I was told by a mortgage broker 6 months ago that I was 'at my limit' as far as my borrowing capacity was concerned. i found a new broker and bought another, cashflow positive, property two months later. Unfortunately that broker has now gone into another area of finance. But thru this forum I have a new broker and had an offer on a duplex accepted today, also cashflow positive.
Some brokers do not have the experience, knowledge or expertise to set up borrowing structures correctly for people who wish to build a property portfolio. Unfortunately, many of these brokers are not investors themselves and do not realise (or care?) that the way they propose structuring loans is detrimental to a person's desire to build a property portfolio.
When seeking out a new broker ask them whether they are property investors and if so, how many properties they have.
