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  • Profile photo of suzieqsuzieq
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    October 11, 2003 - 7:52 am

    Thanks for the feedback guys. Billfromoz – no I didn’t pay cash. I have brought the property 80% finance and have a H/E Loan against my current PPOR which I will be using to finance the reno’s on the IP (I use this loan for all investments). I understand the reno’s are depreciable though, but really wasn’t sure if interest was a yearly tax deduction…..sq

    Profile photo of suzieqsuzieq
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    October 2, 2003 - 3:34 am

    aussiefantail – have a look at the “Discussion Boards” main page on this site, click on Web links and you’ll find it in there.

    Good luck ……sq[:D]

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    October 1, 2003 - 12:13 pm

    Good on ya Steve……there are enough negative people in this world without having them on the forum…….couldn’t agree with you more.[;)]sq

    Profile photo of suzieqsuzieq
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    October 1, 2003 - 12:09 pm

    This is number 2….already thinkin bout number 3 (or at least how to achieve it)….thanks for all your encouragement and comments over the past few weeks, this forum has given me so much more confidence in what I’m doing.

    SQ

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    October 1, 2003 - 10:02 am

    [:D][:D][:D][:D][:D] I’ve finally heard – a verbal acceptance, should be signed off by tomorrow. yay……I must say this one really tested my patience.

    SQ

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    September 30, 2003 - 11:46 am

    Welcome back to beautiful Perth Steph. Before you know it Cremin will be here too……keep smiling[:D]sq

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    September 30, 2003 - 11:10 am

    Thanks for your replies guys, it all helps and I will certainly ask more questions of the respective PM’s in the town (there is about 3). I will have to think more into Landlords Insurance as I agree if the PM is any good, the risk should be relatively low and it would be a risk I would be prepared to take if that was the case. cheers suzieq [;)]

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    September 27, 2003 - 11:32 pm

    Redwing

    So far it looks to me like you’ve made good decisions ……based on your 2 Perth properties that is. I don’t blame you for being nervous but if you’ve done your research and feel comfortable with the place ….why not? My first IP is Fibro/Asbestos roof, but lovely little cash flow pos earner (and thats all I want from it as it is not in a high capital growth area), one I’m currently looking at is fibro/tile…..doesn’t bother me as long as they fit into my plan. I’m a country girl from way back so Fibro to me is very common especially in country areas. Good luck. [:D]

    Profile photo of suzieqsuzieq
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    September 25, 2003 - 9:29 am

    Just to add my comments, I agree with all of the above. Its amazing what you can do if you need to and kids have certainly had a lot to do with our property investing. Our boys 8 and 10….Our goals – pay for a private education for them, educate them in smart investing not working your guts out for a wage, showing them that we have the confidence to take a risk and fail if necessary to grow in life and spending as much time with them as possible whilst they are young. SQ

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    September 24, 2003 - 2:03 am

    Hi Redwing,

    Have you looked at Sooshie’s links…there are a lot of great research web sites there, also someone gave me a good tip – once you have a property in mind ring the local police to check the area/street out. Not sure about Geraldton, haven’t done any research on that one yet…prices appear good on the surface though, I would check rental demand…ring agents and get their rental lists faxed to you maybe. Hope this has been of some help…..SQ

    Profile photo of suzieqsuzieq
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    September 23, 2003 - 3:07 pm

    bc I rang the agent – she said she hadn’t heard back from the vendor, then said “are you staying with that offer?”…..wasn’t sure what was meant by that but I said “yes and ok we’ll wait and see what happens, hopefully we’ll hear tomorrow”. So now sitting tight until tomorrow!!![xx(] sq

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    September 23, 2003 - 8:49 am

    Allan, have you considered purchasing the home your living in from GEHA? Take a look at their website (not sure which state your in), but in WA I know that if you are living in a government house you may qualify for a Tenant Purchase arrangement….look further in to it, their must be a way…..and of course once you buy your own PPOR and equity increases you can start using that and any savings to put towards your first IP. Hope this helps.

    sq

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    September 23, 2003 - 4:51 am

    BC…unfortunately I did not put a time limit on counter offer (put it down to inexperience)…thanks for your advice. SQ

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    September 23, 2003 - 4:35 am

    I have placed a counter offer which has been in since Friday of last week and still have not heard a dicky bird from the agent – don’t want to appear to keen, but should I ring her and ask her whats going on or should I just sit tight…..any comments from anyone would be appreciated.

    sq

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    September 22, 2003 - 7:50 am

    Thanks heaps lynnem…..yeh the crops are lookin good out our way…..keep the farmers happy, they keep the town happy which keeps employment happy, which equals a happy IP owner.

    sq.

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    September 22, 2003 - 7:35 am

    I’m with you powderfingers although CLE didn’t do very well either I thought, but the judges were pretty positive towards her.

    sq

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    September 21, 2003 - 6:03 am

    Hey Cookster

    I’m fairly new to this stuff too but having made the plunge into IP’s for the first time 4 months ago lets say I’m hooked and becoming even more creative. My tips are similar to what has already been said …….thinking outside the square (which in your position you need to be) is my biggest tip, as that is what got me eventually off the mark. I was sad for a long time that I couldn’t afford to get an IP in Perth but with sheer determination I set out to find a way. My IP didn’t end up being in Perth as I just couldn’t afford it…….but it didn’t stop me from looking where I could afford THINK OUTSIDE THE SQUARE, research, research, research and talk to people, forums ect….have faith you will get there. Good luck SQ[:)]

    Profile photo of suzieqsuzieq
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    September 21, 2003 - 5:42 am

    Thanks for your replies everyone…..gives me somewhere to start….[:D]

    Recovery – in answer to your question – I’m in Wheatbelt WA.

    SQ

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    September 19, 2003 - 3:16 am

    Thanks guys really appreciate the feedback, offer is in at $45,000 – waiting for them to come back now…..mmmmm sitting tight. Have asked father-in-law to help with shortfall but would be nice to pay him back quick so hence was greatful for the advice of the reval once the reno was done and re-finance in order to pay him back quickly in the hope that if we need to use his money again he would gladly help. Also comments about credit card helped as we pay ours out fully every month and have $7,000 avail to us…..thank heaps hadn’t thought of that one either!!

    SQ

    ps: as I’m writing this the agent just rang – the financial institution has come down by $5,000 to $50,000 and she said they won’t come any lower as she could sell it easy at that price?!? I’m paniking, don’t want to lose it, but said back to her we could only go up by $2,000 – she replied, do you want to walk away from it and I said might have to, she said I’ll fax it to you and you can counter offer and we’ll go from there – what do you guys think?

    Profile photo of suzieqsuzieq
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    September 18, 2003 - 12:52 pm

    Steph, glad I made your day – would love to catch up with you when you return.
    My husband and I already have two kids (8 and 10) so we are doing things the other way round – actually travelled the UK/Europe circuit backpacking with them 2 years ago and wouldn’t like to be spending too much time in London (depressive one would think!). After spending all of our money travelling we then decided to settle into investing mode……..call us crazy, but it seems to be working out ok for us and most of all we are very determined to work smart/not hard. Our motivation is private high school fees in a couple of years and spending more time with our family AND retiring comfortably. nice chatting – see you in WA

    SuzieQ

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