Forum Replies Created
hi cremin
well at least your parents had the forsight for super and retirement.
The majotiry of people live week to week and fear retirement. I see pensioners in the supermarket and they really struggle.bbs still paying there house off.
Well the government is no help it only instills fear they wash there hands like pontious pilate and what happens to you is not their problem.YOU MUST FUND YOUR OWN RETIREMENT THEY SAY.
Meanwhile we pay tax so we can fund their lifestyle. Isnt it ironic services get cut the health system is in tattters people on the public system have to wait 12 years to get there teeth looked at.
Meanwhilke we fund the lavish living of these people that never seem to have money for the social good but for there own perks and salaries well its not our fault the renumeration tribunal has given it to us they say we have no control over that. THIS IS THE ONLY TIME ALL SIDES OF THE HOUSE AGREE please what a scam!
Judges arent far behind
well i had my say all the best
time to storm the bastille…lol
regards
alfhi
yes great topic which i have thought about myself.
what has been said in different circles is that the baby boomers have lead the trends as you have indicated.
There is also a conflict of opinion one view is that the baby boomers are all cashed up and want to buy lifestyle and willing to pay for it.
The othere side is that most havent saved enough for retirement and only have there home to rely on.
Given the affordability statistics and average incomes and not enough super etc. i tend to see the latter as a more probable outcome.
I noticed in the paper that the cbd areas are going to be targetted to entice young people into the city.
I guess anyone that has an interest can study the abs stats.
regards
alfhi
what should people do with negatively geared property
-take the money now and reinvest in positvely geared
-sit it out and wait for the next boom
alot of people that have bought into property investing have done so at prices that due to rents being what they area the properties are negatively geared.
alot of the mums and dads have bought into the borrow against the equity in the ppor, and have borrowed the lot plus costs etc 110%
got interest only loans
fix for 3-5 years at todays rates eg 5.95% fixed
i feel that a combination of these factors can be setting people up for a fall.
If you think about it some people are paying out of there pocket now after the tax incentives it may not be much but this is in a climate of low interest rates.
lets go forward 3-5 years fix rates reach there time and the interest rates are now 8-9%.
because the loan amounts havent changed and are the same as when they bought the monthly repayments would have a significant effect.
also the depreciation factors which were relied upon have eroded by this time.
Seems like a time bomb to me. i may be wrong
what do you all think
regards
alfhi
i have had a few people interested in my property from sydney and they all have these trade dollars to deal with. Some have extroadaniry amounts.
generally they will over the purchase price or close to it and 20% on top
so for eg.
asking price 150000
may offer 140000 + 20% 28000 trade dollars total for property $168000This is the figure that you have to declare for capital gains according to the ATO purposes if its required $168000.
Its like another currency check out the website that i posted.
This is all new to me too obviously the wheeler dealers always find ways.
I dont know much about it but have put some questions to them via the net.
regards
alfmini
i agree with you its really down to numbers you certainly think outside the square.
Some people may be reluctant to certain types due to the fact that on selling is difficult in some types of investing.
i was lead to beleive that the cbd and near city investing was the way to go by people who i thought had minds immeasurably superior to mine.
The fact is in adelaide you could’ve bought anywhere where no one would dare go once upon a time and made money and +ve cashflow.
I like the way you think..
regards
alfhi mini and calron
thanks for your answers its great to see that you found it on the internet.
I guess when one is looking and doesnt find for a long time they become despondant or feel there not looking in the right place.
As i said i havent been looking long but judging by the questions from those that are starting out it seems bascially the same.
Where do i start
How did you find it
The fact that you answered mini and calron is great because some will say keep looking there out there without any specific direction be it papers/internet/agents.
I think thats all people are looking reinforcement that yes they are looking where others have found them.
Once again mini and calron enjoy your input and answers
kind regards
alfhi all
Its great to hear people still finding +ve cashflow properties.
Mini how did you come across the one you mentioned in n.z.
Did you know the area
had you researched it
I’m only starting to delve into this have got steves book and ordered fast track.
Id like to know where to start looking
I’ve looked at the papers
internetwhat i have seen are utter dumps (sheds) for the soughtof prices the forum indicates.
Where does one go to research a town or place where the property is situated.
some say get a feel of the place go there if you are buying interstate or places you have never been makes it hard to just make decision.
Hows the best way to start?
agggggggggggggggggggggggggghhhhhhhhhhhhhhh…lol
best to all
alf
hi
thanks melanie and steve
kind regards
hi all
yes the jenman book is excellent and i wish i had read it before.
Jenman points out that auction is not the best option for a myriad of reasons….
get the book its worth its great value.Jenman would have to be the messiah of real estate agents in so far as ethics are concerned and consumer protection.
You can email him he makes himself available at no charge and they do have a consumer protection unit which may be of help.
Jenman is not a wraps fan by the way.
best of luck
kind regards
alfhi
regina got anymore info on ed burton can i email you.
regards
alfhi crashy
would it be ok to email you and run some numbers by.
regards
alfhi johnny
i have first hand experience of property investment advisors in sa my advice be afraid be very afraid.
I have the same problem with accountants only interested in the tax side of it. Maybe we expect too much from the accountants.
i am in adelaide myself.
regards
alfhi johnny
no i dont work for whittles and i am a strata owner.
like anything do your own research and ask a few different ones.
I apersonally found whittles helpful on a couple of matters that needed to be fixed.
Have you had a bad experience?
what is your reason for asking?
regards
alfhi johnny
i can’t say that i have had problems with whittles myself.
kind regards
alfhi johnny
yes i have how can i help
regards
alfhi darth
i thought it might’ve been.
these generally have 5+5+5+5 and they have the option you have no choice.
they are able to franchise to whoever.
they could go to a mangagement investment scheme cost bourne by the lessor.
Its a comprehensive lease.
The furniture is usually handed over after the first term.
rents are generally lower beacause of the guarantee.
does this sound like the way it is.
regards
alfhi darth
which company is it the terms sound familiar?
regards
alfhi all
only one reply to this? surely they are not all bad.
any suggestions would be appreciated especially with an accountant who understands property investment.
kind regards
alfhi darth
be very careful how much cash would you be putting up.
Where are they/price/normally negatively geared
how much control will you have.read thread out of property market. read a book called dont sign anything i wish i had.
regards
alfhi all
yes crashy lucky you were there these people are relentless.
The ironic part is that they realyy think they are doing good by you they will never accept that they are ripping you off.
the purchase wasnt neccessarily that bad,and to an investor who is cashed up it could seem like a good deal but for a family person who is trying to get some security for future years the risks are too great i feel. given the market is overheated at the moment i might just get out of it by selling. If theres a sudden drop in the market or interest rates rise and i get caught when they are out of the fixed term i’ll be in trouble.
When we first sent to this guy he was an unlicensed securities dealer
about a year later he changed the company name and was granted his license.
I have read about many cases where people have lost everything or come close to it. But these advisors have a very low risk of prosecution and the rewards are great for them.
I am annoyed at the fact that
the figures were manipulated to suit
lots of charts and graphs
projections questionable
us signing agreements and he moving the goal posts so to speak etcthe mistake is we thought we were paying him to look after our interests and his expertise as he is very clever he has convinced people much more intelligent and qualified than i to buy in to apartments etc.
regards
alf
