Forum Replies Created
Yes, sold some poor performers and a two good ones to pay out own home mortgage. Still buying though.
As to the buy/hold/reno/well blah; do what you are good at and comfy with. If you need the cash sell; if you can buy well and take a quick profit to go on with then why not?
TC
Marpatrick,
I live in Bundy and have another IP there. We also have another 4 Ip’s at the coast (2 Bargara and 2 at Burnett Heads).
We just sold a PPR at Bargara we renovated and made 230k clear (bought late ’01 and sold early ’04).
Bundy is booming at the moment but had been flat for a long time.The coastal areas went first and then Bundy. Bargara has been phenomenal- one IP we paid 83k for in ’99 is now worth 375k. There are new town plans and lots of infrastructure happening in both Bundy and the cost (Burnett Shire)
It’s definitely worth a look, especially Burnett Heads and Bundy.
Hope this helps
TC
Read widely!
did they?
Boysie,
I recommend keeping it simple. After a few loans, the bank knows you well, you know the staff and will probably build up a rapport with the manager or loans officer. They will come to understand your goals (especially if you tell them) and see you as an excellent customer.
In the end I think this is worth getting a slightly more costly deal, if necessary. You will also owe so much money that you will qualify for a package (often called “professional packages”) which we entitle you to some discounts (eg0.6% on int rate) and some freebies etc.
TC
Rubbachook
the RE commission is a MAXIMUM and is regulated by the PAMD (Property Agents and Motor Dealers Act) s180 or 181 I think. This means that you can negotiate a lesser commission but the agent cannot charge more than the figures you outlined.
TC
Bennie,
read the latest Australian Property Investor magazine. There’s a great article on TIC and all the ramifications.
TC
rylu
My brother did this. It is a good idea I think as long as you can be professional about the tenants. You can claim the %as a deduction on property expenses. The property would be subject to CGT on the proportion that is an investment property. If you had a three bed home and two tenants then 2/3’s is IP and 1/3 PPR. Another option is tenants in common- see the latest Aus Prop Investor Mag. They covered this very well. Essentially you and your friends each have a share of the property. And can dispose of it etc. The main catch is that yoy will be guarantor for their portion of the loan.
TC
Go to an accountant and get advice. For certain types of investments in property (eg boarding houses) a company could be a good structure because it provides limited liabilty (the company gets sued and not you as an individual). But there are CGT and other taxation issues to consider.
Hope this helps
TCTeachers who think they are overworked and underpaid should leave the profession (I did after 15 years of it). I loved teaching but the increase in stress, curriculum changes for their own sake and bureaucracy killed it for me.
There are great teachers and there are duds- everyone knows this. Most teachers care for the kids and work quite hard- some are very lax.
Many feel they have no other options but teaching and have commitments and see their Superannuation looming.
We should focus on the quality of teachers and really support them in the classroom- but this means money not rhetoric and a real commitment from everyone in society.
TC
Like almost any RE commentator/guru/adviser you need to take a broader view. Mush of what he says has merit but he does seem to make some emotive comments at times. Read widely and make up your own mind
TC
