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  • Profile photo of suzieqsuzieq
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    @suzieq
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    June 13, 2007 - 1:35 pm

    I would subscribe to API. 

    I also like to have a variety of books, as I usually find there is always something you can take away from each one.   I have 2 on the go at the moment – they are "Seven Steps To Wealth" – John Fitzgerald and "How To Create an Income for Life" – Margaret Lomas……two very different books but each has certainly have helped me figure out my own investing style.

    Hope this helps

    sq

    Profile photo of suzieqsuzieq
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    April 21, 2007 - 6:23 am

    This site used to be a very good resource a couple of years back, but I do I think it could still be good for some newer investors. 

    I gave up on it a while back due to the fact that it was so slow at certain times of the day (when most used)…I'd say the server was overloaded and they needed more bandwidth or additional server space.

    I have been back on the site a bit more lately and this issue seems to have been resolved.

    sq

    Profile photo of suzieqsuzieq
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    April 21, 2007 - 3:37 am

    I think your decision to compromise is a good.  Good luck with it all.

    sq

    Profile photo of suzieqsuzieq
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    April 19, 2007 - 12:52 pm

    Bonnie,

    Not unusual for properties to sit on the market for 6 months in Perth these days.  Hopefully stamp duty concessions will come into play and create more opportunities for sales.

    We've had a couple of blocks of land on the market since before xmas (very competitively priced) with very few enquiries so its a waiting game.  The agents are doing there best in most cases.

    good luck

    sq  

    Profile photo of suzieqsuzieq
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    April 19, 2007 - 12:45 pm

    Hi Grim,

    Hard call!!! 

    No doubt the older couple know the rental situation is not too hot in Perth at present and know they would probably be hard pressed to find anything else comparable out there.  However you do need to make sure your not putting your needs last.  Ask yourself the question – why did you buy an Investment Property in the first place?(to make money and carve a future for yourself and your family!!!!)

    If your not putting yourself and your family under any strain, maybe a compromise of some sort could be worked out whereby you both win a little.  Its a toughy!!!

    good luck
    sq

    Profile photo of suzieqsuzieq
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    April 19, 2007 - 12:27 pm

    Scott

    Contacted the builder (vendor) and he did not want to disclose the construction cost to me, but said that we should be able to work it out easy enough based on the Land Value Assessment/Rates notice.  I do have a document from State Revenue which clearly states the value of the unimproved land prior to them building on it.  Could this be used to get close to the mark as far as construction costs?

    What do you think?

    sq

    Profile photo of suzieqsuzieq
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    April 17, 2007 - 10:29 am

    Thanks guys, I shall be hooking up with someone tomorrow regards Building insurance and will go the Landlords as well, sounds like a good plan.

    SQ

    Profile photo of suzieqsuzieq
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    April 17, 2007 - 1:15 am

    I've just come across this shocking news and feel deeply saddened by SIS's passing at such a young age.

    I lost my step brother to suicide at the tender age of 22 and everyone thought he had everything in life – he was outwardly confident, had lots of friends, reached success in his job, money, ……..I could go on. 

    No one would have guessed this guy was heading down that track.  I think he felt pressure to keep up this amazing facade, but felt really depressed inside"?

    Thanks to all who have posted on this thread – it shows that we are all human and that some (including myself) have suffered depression at some stage in our lives and some are still battling with it.  There is good help out there (as Mortgage Hunter) pointed out.  Its obvious that it is a common problem and we all need to realise that we are not alone and that we are in fact very NORMAL but we need a little help sometimes.

    My sympathy to SIS's family and friends.

    sq

    Profile photo of suzieqsuzieq
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    April 17, 2007 - 12:40 am

    My Property Manager has asked me if I'm taking out Landlord's Insurance – still not sure, as I assumed if you had a property manager on the job that it wouldn't be as necessary?!

    Thoughts please?

    SQ

    Profile photo of suzieqsuzieq
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    April 16, 2007 - 7:16 am

    Welcome to the forum all you Perth newbies.

    This is a great resource – enjoy!

    sq

    Profile photo of suzieqsuzieq
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    April 16, 2007 - 5:04 am

    Thanks guys, things are a lot clearer for me now!

    I have taken the extra $15,000 to cover expenses ect on this occasion.  May not be right for other purchases, but for this one I feel that it is the right thing to do after evaluating it some more.  It is Interest Only for 3 years and then I will re-evaluate putting more cash into it after that period –  perhaps – dependent on financial status then!!

    The extra cash I have, I will put in an offset account to offset interest on another IP I'm holding, which has just come out of its Interest Only period.

    cheers

    sq

    Profile photo of suzieqsuzieq
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    April 16, 2007 - 4:52 am

    Thanks a lot for all your replies.

    My Accountant is a CPA and has done depreciation schedules for us in the past for business and other assets (eg: cars ect), so I have no doubt he could prepare one for us.  I am in the throws of contacting the actual builder (who also is the vendor) of the property, to see if he can write something up for me with the construction cost, which I then could take to my accountant.  If he is not willing to do this then I will need to get hold of a QS I suppose.  Anyone know of one in Melbourne?

    What is actually classed in construction cost  beside building        – fencing? shed? landscaping? floorboards?

    thanks

    Sq

    Profile photo of suzieqsuzieq
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    April 8, 2007 - 9:50 am

    thanks for your input everyone.  I will be speaking to my accountant and yes I will ring the ATO a couple more times on this and see what responses I get.  I have just got back from Melbourne (decided to go regardless of being able  to use it for my cost base just for peace of mind).  Anyway happy with purchase and have kept all receipt in case!!!!!

    sq

    Profile photo of suzieqsuzieq
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    March 22, 2007 - 11:10 am

    I spoke with someone at ATO regarding this and they said NO to the expense claim and NO to it contributing to my cost base so when I sell the property I cannot make a claim to offset some CGT then.

    I did argue the point that I felt that it was part of acquiring the property and that we needed to meet the property manager, conveyencer and real estate agent who are all dealing with this property AND that the property is being sold without window treatments, so in order for it to be rentable, we needed to fit blinds/light fittings ect.

    She said I should put in for a private ruling. Has anyone had success in this area?

    Comments welcome!

    sq[blink]

    Profile photo of suzieqsuzieq
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    March 10, 2007 - 5:36 am

    thanks for your comments everyone, I guess now its up to me to do what i feel is right.

    sq

    Profile photo of suzieqsuzieq
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    March 9, 2007 - 12:39 pm

    Thanks to all who have replied.

    I’m thinking…. take the $15,000 more to cover stamp duty ect, but my only concern is

    Does this loan amount affect the valuation versus equity when the property goes up and I want to access equity? What I am trying to say even though it may seem dumb is say…..

    First year…..
    Property $240,000
    Loan $255,000

    Five years later
    Property $360,000
    Loan $255,00….

    Is the useable EQUITY the difference between the Property value at the time of valuation and the outstanding loan amount or the difference between the valuation of the property and property PURCHASE price not the loan.

    sorry if this seem vague, but I’m just trying to get my head around it all in terms of accessing my equity down the track.

    thanks again

    SQ

    Profile photo of suzieqsuzieq
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    March 8, 2007 - 10:50 pm

    Mmmm interesting Terry,

    The ATO class you as owning the property from the date of acceptance of the O&A for CGT purposes so why not from an expense point of view!!

    Profile photo of suzieqsuzieq
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    March 8, 2007 - 10:47 pm

    Thanks for your reply Terry,

    No I don’t have a loan on my PPOR.

    Do you mean 100% offset account again my new IP loan then? I am assuming thats what you mean.

    cheers

    SQ

    Profile photo of suzieqsuzieq
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    February 13, 2007 - 2:30 pm

    Thanks for your advice CT. I’m just happy that someone has had some experience/connections with property in Malaysia because I am finding it difficult to get much info at this stage.

    Yes I have spoken to a couple of locals in Malaysia who were indicating that I would have to buy in a “malaysian” name. I wasn’t able to get a good grasp of what they were getting at so I thought I would just come home and try and find out more info before making any decisions.

    I haven’t given up all hope yet – if there is a way I will find one! If not I’ll just invest elsewhere.

    thanks again and I will be in touch with Calvin.

    cheers

    sq

    Profile photo of suzieqsuzieq
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    February 13, 2007 - 2:29 pm

    Thanks for your advice CT. I’m just happy that someone has had some experience/connections with property in Malaysia because I am finding it difficult to get much info at this stage.

    Yes I have spoken to a couple of locals in Malaysia who were indicating that I would have to buy in a “malaysian” name. I wasn’t able to get a good grasp of what they were getting at so I thought I would just come home and try and find out more info before making any decisions.

    I haven’t given up all hope yet – if there is a way I will find one! If not I’ll just invest elsewhere.

    thanks again and I will be in touch with Calvin.

    cheers

    sq

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