Let’s just say…(scenario here)
you were driving to inspect one of your IP’s could you claim this as a taxable deduction? [}]
I think not, but it’s worth trying anyway!
It was suggested to me and so I’m passing on this info, that the local rag in Tassy, one covering Hobart and surrounds is called The Mercury, which comes out on Friday with a real estate liftout (my copy came on Monday)and is worth looking at if you are interested in investing in Tassy. There is another newspaper, the name escapes me at present.
Congrats on your 1st Ip! [^] Do you plan to get the property revalued once you do the renovations, considering your purchase price of approx 70+K and the fact that other properties in the area are 110K?
It’s wonderful to read about everyone’s lives! Better than Big Brother []!(Does anyone really watch that stuff???)
Thanks Will and Del, for the lovely birthday and holiday wishes [:X][]. Only 3 sleeps to go!!!
Where we are going there is no hot water or electricity… I think we’ll take a solar shower with us, so we can give Simon a warm wash.
I’m interested in Reno’s as I’m good at looking past cracks and disaster wallpapers, mission brown beams and quarry tiles, granny smith coloured kitchen bench tops, orange showers etc. I’d like to find out more about Geoff and Paul’s seminar.
Glad to see everyone is posting []
Warm wishes to you all
Sooshie []
At this stage, if you could contact the site administrator before posting in regards to looking for joint venture partners, it would be appreciated. [email protected]
Clarinda and Dingley is getting more expensive. However, there are overhead power lines close by, so you should be careful what you are looking at. That is unless you don’t mind living next to humming power lines. I avoided buying in Cranbourne for the same reason, even though I know that people may not have the same health concerns about this as I do.
Highett, Cheltenham, certain parts of Ashburton are still okay if you look for an older house that needs some work.
Darwin gave you some links about wraps… Have a read of those and see what questions you have arising from that.
Springvale, Noble Park, Dandenong are still in your price range. Or you could try another area all together, like Fairfield (certain areas) which is also close to the city.
With regards to what my preference is, ie. house or unit. I prefer houses, because at this stage of my life, If I had to live in a unit with my kids, my cats and my husband working in one room, I don’t think I would have my sanity! (Although some think I’ve lost that already [][:0)]) Basically and generally speaking a unit, is like a house, except a house has land, land appreciates, houses/buildings depreciate. Hence, the negative gearing attraction of property.
I don’t know at what stage in life you are at, but it always pays to plan foward thinking, rather than say “I wish I’d….”
Have a look at the wraps link. There are still plenty of houses for sale. There is no rush to make a decision.
1)Get someone to wrap/lease option a house to you
2)Get someone to wrap the deposit for you
3)Find another couple in a similar predicament, buy a house (like a 3-4 bedroom) on a joint venture. Share the house and all out goings.
If you buy in the Carnegie, Murrembeena area you could always use the equity in a unit to purchase a house, and rent it out to a uni student.
I live in East Bentleigh/Moorabbin and the houses have skyrocketed, but the units are still hard to move. Closer to the University (Monash Caufield and Clayton) it appears units are easier to sell.
These are just some thoughts, maybe someone else will jump in now.
Michael, sounds like a good idea, that way you are in control not the RE. After all, it’s your money!
Another twist on this, (especially as there seems to be bidding wars going on with regards to the price of properties in certain areas) is not to worry too much on what % below market value you put your offer in at, but what terms you can negotiate on the deal.
Just a thought…
Cheers
Sooshie []
Do you want to Wrap or L.O it to the tenant? Could you speak to the tenant prior to settlement, introduce yourself perhaps? I reakon once they see you, they might be relieved to sign a formal arrangement/lease, so that they have somewhere permanent to stay and they know you’re not going to kick them out.
Leigh, well you know me! I even got a cuddle on the second day [] Doncaster’s great. I miss Tunstall Square shopping.
Well for everyone on P.I forum who want to know my specs. I’m Soosh (aka Sarah) born 26.6.1972 (exactly 48 days younger than Steve!), I’m a phlebotomist, registered Nurse, Acupuncturist and Midwife (something like this: Sarah W, Dip Phleb, RN, Dip Ac, RM) . Married to Michael (Moogie in forum), married 7+ years, 2 sons, Phillip 4 and Simon 19 months. Phillip has mild Autism and Simon is being tested at present. They’re a wonderful handful [][]
I just had parent and teacher evening and Phillip had rave reviews about his personality. I’m a very proud mummy.
Last year, my goal for my birthday was our first property investment. Instead we had our first property investment lesson []
We made many mistakes with property investing and it was my ‘hound dog’ skills which lead me to this special site/forum.
I have a true passion for real estate, where I feel that many houses have character. It’s not all about the money.
One of my goals in life is to make as many people as I can []SMILE[] Without having to be a stand up comic!
I could go on forever but I’m thinking we should perhaps transpose this post to another section.
Will think on it.
If you have any questions you’d like to ask.. why not? I believe you learn by asking questions…and listening to the answers.
I’m looking foward to my Fijian holiday ( a birthday treat)
For that price, you might want to look at Clayton, or further up North Rd, Bentleigh East, Moorabbin, Cheltenham etc. You can actually buy a house for that price in certain areas if you look hard enough, but it depends on what you are after.
Hi Alex,
I was talking to a RE in WA and he explained that whilst you purchase the house, the land is actually not owned by you but leased to you by the shire/council (or whatever they call it in that part of the state). So in fact you actually pay a fee to lease the land from this entity (like rates). I guess it’s like having a caravan/cabin in a caravan park, where you might own the cabin, but you have to pay rates for the area the cabin occupies.
It’s an interesting concept and I hope I’ve helped somewhat. Someone else may be able to expand on this for you.
Welcome to the forum! Can you give a little more detail about your plans? I’m from Melbourne and it really depends on what you are planing to do with the property.
Welcome home! I knew you’d love Ubud [8D]
64% increase in value on your reno!!! WOW!
By the way thanks for the link, I’ll pop it into ‘useful links #2’ post.