hi all

still at school
you are right there is a definite lack of stock out there in cash flow positive world. But it has been drying up for the past few years, steve has only created more interest but the situation would still be the same. it’s certainly not 1997 when i started buying, then you could buy incredible deals like duplexes in…[Read more]

hi milen and celivia

the issue of cash on cash return is a great one but it all depends what sort of deposit you put into the deal.
personally i’m after a 25% Cash on cash return after i put in the 20% deposit. this is real cash flow. unfortunatley the 11 sec rule will often not even present cash positive.
westan

hi guys

i’m 39 and i’m retiring at the end of the year. But i’ll keep doing property stuff, i just wont be working for a pay check anymore[] handed in my resignation (actually asked for 12 months off) a few months ago and can’t wait to be finished i should have quit weeeks ago, it’s really hard to get motivated now i know i’m finishing in mid…[Read more]

hi all

interesting stuff mini.

i like the last comment “number of countries who have used nuclear weapons agains another country”

how will history judge our good friend the USA?

westan

hi all

yes mike at 24 k its making a killing. but not at 95k.

my strategy is buy and hold but sometimes its good to take a profit. i’m reinvesting the profits into new purchases that are averaging 40k and renting for 120pw. so by selling i’m getting rid of one property and buying 4. yes i could refinance but i am happy to be out of this area.…[Read more]

hi kristine

i might know someone who can help

email me at

westanjohnson@hotmail.com

regards westan

hi melaine and mitzu

melaine i don’t know for sure but i think the figure in aust. is about 25% rent whereas in NZ it is about 30% rent.?

Mitzu
i know some in Oz are setting up trusts in NZ. i’m using my trust from here to buy through and i’m not having any problems. as melaine said the only way to get a loan is in NZ.

regards westan

hi david

i’m happy to cash in and reinvest elsewhere as i bought in SP at 42K a pair and EP and EG at 24k eack so a nice profit. today at 94k and rent of 125 they aren’t cash positive.

regards westan

Josh

you’re in the wrong state[]

actually for victoria the ministry of housing use different agents unlike this state where they are contracted to certain companies
westan

hi mike

thanks for that info, i live in victoria so i really appreciate your input. in the past 3 months i’ve sold a pair in SPlains for 159k and a single in EP for 94k, all were in average condition. so by the looks of things i’ve done OK.
yes that property is in EG not EP (i get confused which one is in which suburb). my property is in…[Read more]

hi mike

what prices did they get for the jt auctions ?
were the properties in the northern suburbs?
i’m interested because i’m still selling one in Gunther St. E.P. want to get about 96k for it.
regards westan

hi nats

my experience is usually the banks will insist on doing the valuation. often the bank will hire a valuer. sometimes as in NAB’s case they get a local branch manager to do the valuation. a registered valuer looks at the prices similar properties are selling for. this is the only way they can justify the value they place on it.…[Read more]

hi

i’m suprised that you financial advisor is encouraging property often they are anti, as they don’t understand it and don’t study it as part of their course.

it’s very hard to make comments obviously without knowing your full picture, ie your own financial position, and where you own your property, how much it is worth what it would cost and…[Read more]

hi all

yes, good one kristine, i didn’t think of that[xx(]
regards westan

hi all

david and others
i actually posted on the forum a while ago. i mentioned one of the companies (starting with e)that is selling them and even mentioned a contact Dennis Brewer who is a very good reference point.
there you go snoopy people go through all the old posts to find the company. Personally i’m not a buyer in this market anymore…[Read more]

hi all

agent 007

you are a tease aren’t you[]

Does the company starting with “e” still have the contract to auction all houses outside the capital?
westan

hi bjb

i used to get the millicent (SA) papers and as nick said i went through the local publisher. or you could ask your local agent to get it in for you. i think its a great idea to get the papers for areas on your hot list.

westan

hi guys

yes there is always a risk, thats why its real important to buy right not just buy as much as you can. I figure most of mine will be cash positive till interst rates get to 10% (can’t see that happening if it did the country would be stuffed) i don’t expect interest rates to rise very much but who knows, best to have some insurance (fixed…[Read more]

hi all

great point Richard, about when CGT is calculated. i nearly got into trouble on that one earlier this year. I didn’t know about it till recently. You hardly ever hear it mentioned and it goes aggainst what i had always assumed that it was settlement date.

regards westan

hi inverstor

doing some figures it looks like you would have CG of say 80k after costs. As mortgage hunter said if you don’t own the property for more that 12 months you pay CGT on the full amount. if you are on a high salary you would pay nearly half that in Tax.[xx(]
if you wait, even if you are in the highest tax bracket you will still pay…[Read more]