Forum Replies Created
Fingerscrossed,
The tenant maybe talking about a pest spray for spiders and coachroaches not termites??
If this is the case tell them you will pay the cost of the 1 or 2 litre packs you can buy in the shops and get them to do it, it works most of the time with my tenants, it will save you heaps and they can do it whenever they see them building up.
If it is termites, depends on where you live. If you live in Queensland or up north then probably best to get it done, if you live south then as long as you don't have dead trees near by or old wood around the house etc and in a built up area you should be fairly save. Do your own inspection if its close by, can save you heaps and at least it will be checked properly.Stock market down another 3% today, well that's a bummer.
Having said that I am actually buying for the long term now.Still say 20% or so this year and another 20% or so next.
I have been watching one suburb close by to me, its a newish area with lots of expensive ( sort of ) houses. In 2006 they were going for up to $750,000 for the best in area, in 2007 they were about $700,000 and in 2008 they were about $650,000, this year so far the best houses are about $620,000 to $630,000 and falling each month. This is a fact. My dumbo brother purchased property and put up a house with pool etc etc all up it costs him $720,000 , he can sell it now for about $600,000 or so.
He is also loosing all his money in superannuation having not listened to me and left it in growth, he is not a happy chappy.Rising unemployement and doom and gloom has set into everyones mindset ensuring house prices will keep falling.
SHales,
Good on you for being so caring, unfortunately, the system is against you.RubberduckyAU
Just offer what you think is good value for you, put it in writting and give it to the agent with a deposit ( you will get it back if not accepted ). Remember , you should offer fair value, compared with other properties in simialar area and condition. You do not need to insult someone trying to sell or rip anyone off, as long as you think you are getting a good deal then be happy with a fair offer..Jye,
There is a problem if you offer and rely on termite inspection. Unless it is structural you have no real leverage, if you read the contract it is only for major structural damage that you can reject the buy. So be careful, I agree with god_of_money, it may be best to go for another house, if you are still interested then offer the same again and note to the agent you have seen the termite damage and offer is pending a buyers satisfaction termite inspection and put it on the offer in writting.hbbehrendorff,
I have completed the crash course. Not really anything about economic theory ( elasticity of demand etc ), but a very informative audio / video lessons. I was aware of most of it, but it is very scary, would have hoped for a more comprehensive summary of what needs to be done, but I suppose it's more up to each individual to think about their own circumstances and react. Now I have to think about all that was shown and how I can react for my situation, some of it has small flaws in the details ( not taking substitution into consideration for example or new technology or finds – I know technology is not a source ). Thanks again for link. I recommend people see it and watch the complete series.
pubudug
Is your Dad going to just supply cash up front and you are to have the house in your name or both ?
If it is in your name only, are you to repay him slowly using the rent as help ?
If so the rent will be on your tax return.
If he is half and half with you then 50% rent and costs etc. You can go 20%/80% or any combination.
Also conside joint or tenants in common names on property.pubudug,
Sell your existing IP and buy your Mums if its a better place and the figures stack up ! But probably not.Go joint venture with someone who has cash and buy your Mums, a relative or friend maybe.
Your Mum will not need to pay CGT as you suspect if she has just moved to the new house and made it her PPOR.
Get your Mum to loan you the deposit, make some arrangement if she has spare money.
Why doesn't your Mum just sell you half the old house ? that way she has half an investment property without the costs involved in purchasing again.
water,
keiko makes a valid point, of course his numbers will change for every house and every interest rate change and every different deposit and everyones tax rates etc, he is pointing out that you have to consider all the costs. Most beginners just say its $250,000 costs at $250 per week so that's a profit of 5%. It's not that simple.
ps You need more rental % return for cheaper houses than more expensive houses to end up with the same % in your hand after costs.devo 76,
yes those fhog are getting in on anything thats cheap, but have patience their numbers are dwindling, soon you will be the only one buying.
As a side issue – has anyone besides me noticed that most of the first home owners are going to leave their houses after 6 months and go back home. This is going to create a lot of empty cheap houses as time goes past, maybe dropping the rentals on cheap houses??
morgan1
I am no expert on this, but my guess is.
You maybe should get a strata management company to run it – at least to start so you can see what is involved, they can advise on strata fees etc. I think you need to have a sinking fund etc to make it legal, but I'm no expert, other have complete blocks, hopefully they can advise.aah33
Depending on your plans into the future, maybe try to get Interest only loan with an offset account, so you get the offset to save money off the loan and also build up cash ready for next investment.Also read lots of postings, you can learn all you need to know on this site.
If you are thinking of a low cost house or unit etc you will be up against all the FHOG people at the moment keeping the prices up, but if you are after a higher cost house then wait. It will fall in value over the coming months and save you thousands.
morgan1
Hi, I personally do not have units , but do have townhouses which are similar.
You need to pay strata fees – can range from $100 to $200 or more a month.
Insurance – contents is by tenant and unit by strata body, but you need to pay insurance for fittings and imdemidy ( can't spell )
Also special levies maybe impossed to pay for one off bills like replacing a roof or replacing something big.
Basic maintenance is paid for by strata fees, like painting exterior, grass cutting etc. but you still need to paint your own unit inside.Your strata fees should also pay for say broken tiles on roof or leaking shower etc.
Council rates are less because you own less property, but not enough to cover strata fees.
Thats about it off the top of my head, I'm sure there are other items someone can think of.
devo 76
In 6 months it will be 12% when the price drops further.hbbehrendorff,
Lucky for me I moved my super into cash in November 2007 the month before the crash started, so yes I'm laughing, but sad for all my mates that didn't listen to me, some did and are happy as Larry.
However, I did start another super with shares shortly after and it is bad, but, I look at it as long term and its not a major thing, I am now investing hard into shares, and believe it will recover to some extent, it only has to go up slightly and will make good.
House prices will now start falling faster just watch, guaranteed, bet on it. (cheap houses don't count for first home buyers ). So don't buy property. …..wait and watch it drop…..you will be so happy you did.Israel has compulsory army service and it works over there. When we get in charge will fix it.
Agree about best equipment for the troops but my problem is the politicians make the decisions based on politics and their best interest not the troops.
Thanks all for input great to read , I can see there is a lot of resentment against politicians and their bribery to unmarried mothers etc.
Keep up those postings, we will get a new political party out of this, I volunteer for the treasurers job. No more free money for the dole bludgers and can someone get those prisoners working and putting some good back into society.Dan42,
Is there a requirement for Jlee to actually move back into house before selling ?? You always here the saying that you can move out for up to 6 years and then move back in to not pay CGT.Thanks for input doubledown trent,
My conscription message was more to get young people used to disipline and taking orders etc . Agree with scrapping the astronomical costs associated with buying submarines, planes, etc ( lots of corruption in that market and politicians making the decision so has to be wrong – just look at the crap American planes they buy which are slow more expensive cannot hold as much weapons etc as one built in Russia or even Israel ).SHales – like your ideas. can't help but notice they are from a outback point of view which is great.
ps I wanted to say ship the no hopers to Afganistan. It's just great when you leave home in the morning and notice the yobbo's from the housing commission areas have gone around and tipped all the bins over.
SHales,
Just got back onto site….Forgotten my train of thought….OK if its brainstorming for the financial crisis for Australia then here goes ( remember its brainstorming so you are not suppost to think about what you write just let it flow ). I'll try to be brief and not get carried away.
1. No dole money just coupons
2 .No work then work for the dole coupons
3. Everyone working gets a tax reduction
4. Sack state governments
5. All school kids to do financial literacy courses
6. Send all no hopers to Alice Springs ( sorry nothing against Alice Springs )
7. All criminals to work
8. Reintroduce conscription
9. No money for single mums – just coupons.
10. Payment up front for doctors ( small fee ) and dentist ( small fee ) rest covered by medicare for working people.
11. Mass production of solar cells, compulsory solar cells and solar hot water to all new houses creating jobs.
12. New dams built, compulsory recycling of water.
13. Massive tree plantings and public transport infrustructor projects.
14. Relocate all our farms to Northern Australia.That will do for a start. Next please.
Tony B,
Funny how we all seem to be thinking the same thing isn't it?
In that case we should all be able to solve the financial crisis by tomorrow, maybe !Maybe we should all place our brainstorming up for comments ?
