Forum Replies Created
I think it is Pullman on the Park
Thanks – I hadn’t actually looked at all of their links – but will definitely check that out!!
Hi – do you still have this available?
Hi,
we are just going through the process of setting up a SMSF. I was interested for the same reasons as you – I am learning all this stuff about investing and therefore frustrated that I can't invest my own money the way I want to.
One thing to keep in mind is that you can get a bit more creative with your super money rather than just buying a house with it. You can use it as source of credit (obviously you have to be disciplined with this and everything has to be documented). But you can borrow money from your super fund for deposits for other investments that you own and then you pay it the interest you would normally pay another finance institution like a bank.
So I am about to redevelop a property I own. The bank will loan me some of the money, but there will be a short fall so I will borrow money from the SMSF (documented in the SMSF plan, and interest will be paid monthly).
I am also looking at doing some reno's on some properties -the SMSF will help finance that.
That way you are paying your 'interest' to the SMSF rather than a bank – the more money your fund makes, the more you have to access as finance.
I am also putting a large chunk into the US passive fund!!
cheers,
Jessie
You could look at a Joint Venture with someone that does have the deposit but doesn't have the serviceability on the loan. You could share the profits – so you wouldn't make as much, but at least you would be getting into a property that you couldn't otherwise afford and it reduces your risk.
Hi,
Looking at it on the internet it appears to be really close to both the hospital and the airport. One method I use is I have a house in regional Victoria that is right next door to the hospital. I rent it out on short term rentals (usually between 2-6months at a time). I pay all of the expenses – electricity etc and they put their staff in it – eg. hospitals bring locum doctors in for 3 months – need something fully furnished without the hassle of connecting the power etc. Because of all of this I charge a highly inflated price – I charge $370 a week – when if I rented it out to a normal tenant I would only get about $200-$220 for the house. It is a bit of work because I can't guarantee a tenant all the time, however, I have had the house for 12 months and it has only been vacant for 1 week. But the upshot is that I have positive cash flow.
cheers,
Jessie
Hi,
I have invested in Horsham and I am really happy with it. It is a growing town with diverse industry around it – both mining and farming. I must admit the drive out there is a pain (4hrs each way). But $200k will go a fair way out there.I have a property that I bought earlier in the year in Horsham Victoria. I paid $178k including furniture and I rent it out as a corporate rental as it is right next door to the hospital – $350 a week! There is a fair amount of growth in Horsham so I am confident that there will be some capital growth aswell – but in the mean time I am not out of pocket!
Hi All,
I literally spent all of yesterday reading this topic from start to finish – FASCINATING!!!I am planning a trip to the US in April with the hope of buying a couple of properties myself and a couple through a SMSF.
What are people's thoughts on Atlantic City……….prices seem really good, but looking at the future – I see that they are a tourist spot with casinos etc, on the water – but as the crow flies only about a 100kms to Philadelphia and 300kms to New York.
Looking at Trulia there are a number of bottom of the market houses that have been listed for 180 days or more (in all parts of the US) – what are people's thoughts on why this is? Is it potentially falling down or in a really bad area?
Also – there has been some discussion on here regarding the taxes that are needed to be paid in the US – however, when you then transfer that money into an Aussie bank account does anyone know whether that money then gets taxed again?? Conscious of the trouble that Paul Hogan had recently with disputes over where the taxes needed to be paid. Or are people keeping the money in the US and not bringing it home?
cheers,
JessieI always ask for a 5% deposit (money is better in my pocket till settlement). Agents tend to expect 5% these days – lots of people ask for 5%. I have found that they would prefer 5% than a deposit bond – not many agents like deposit bonds as they aren't a guarantee.
I find that the quality of the tenents makes a BIG difference. I inspected a property on the weekend – there were heavy metal band posters all over the walls, dirty dishes piled up on the sink, it wreaked of cigarette smoke and there were no beds – just matresses on the floor – not an environment for high sale prices!
