Forum Replies Created
I have the UTMOST respect for ambulance personnel.
I recall some 10 yrs ago – it was peak hour traffic on Friday evening in central Melbourne.
The ambulance could not move with the traffic in the traffic with sirens blaring – the ambulance passenger guy got out, went round back, opened the door, got his medical kit and then started running up the road to where he had to go.
At that point in time, everything sort of slowed down for me and I thought that guy is a HERO. Eventhough its his job.
Are you sure? Sounds too good to be true? Can someone else confirm this?
My understanding is that you cannot claim it as an expense and claim it against your taxable income.
However you can include it in your cost base ie. deduct it against the profit you make when you sell the property. Its capital in nature.
Its the fact the purchase price was not disclosed to the buyer.
I dont wrap. I acknowledge there should be a premium on top of the purchase price for taking the risk and lending to people the banks wont touch.
But in my view that premium should be disclosed and agreed upon.
Peter – thats good advice – I agree. Its similar to the advice offered by Jan Somers.
Steve is more into the positive cashflow properties from rural/regional areas which have a lower cost, positive cash flow at the expense of growth. Thats fine if you got no income and want to start from nothing.
But in my view – buy quality properties that grow over time.
If its a quality property keep it, even if there is some short term pain. In the long term quality properties are better than rural cheaper ve+ properties.
Read under the Guru Forum – Peter Spann. I invest his way.
Go read some of the stuff about auctions on http://www.jenman.com.au
Information worth reading and digesting.
What tenants really like is value for money.
What is the picture? What about mentioning something about income – like on a modest income.
If your a couple and have a combined income of $200k and own half your PPOR you could probably buy $1m of property easily.
Beachside of rail – not much under $550 – $600k.
On the other side of rail in mordy the prices have gone up too. There are some good period homes and there are some large blocks. They are a bit cheaper and prices probably range from $350k to $550k.
Depends what you want. My aim over the next 2-5 yrs is to buy beachside of rail between mentone and mordialloc. I am in no hurry as I only want to move when the kids are ready for the secondary schools in mentone.
Prices have come down a little. But I expect better bargains when we see a few interest rate rises. But over the long term there is no problem with when you buy.
Depends where – beachside of rail and nepean hwy.
Hey Dave
Are you any relation to Raintownlady?
Her only post had been on this tread?
Hey Raintownlady
You got anything else to add to propertyinvesting.com?
Does anything else interest you?
How do you get around the island? Where do you work? On the island or mainland? How long you been investing in property?
Cheers
Yack
Ok. I have property down pat – well in my opinion anyway. I have read many books on the aubject and have a portfolio of properties in auto pilot.
Now its time for me to investigate shares, options and share trading – where do I start, what web sites are worth looking at, whats a good beginners book for share trading, what forums are available.
I am an accountant, so I know the fundamentals – but how do i learn to day trade on options, shares, warrants etc.
Marina in Mildura – how is the surf?
I reckon its slowly turing to a buyers market. Hopefully rates will rise soon. It has twice in the US since our last rise. I too am looking at purchasing in the future.
Better opportunities in the next 12-24 months. I am saving my pennies now and consolidating loans.
WHY??????????
If your going to spend several hundred thousand dollars, whats a few thousand dollars in going there yourself to investigate.
Is investing away from your home that much better than near home.
Good to see you on the forum.
I really enjoyed your Book. I read it about 4-5 yrs ago. I look forward to getting your new book for xmas.
I have not done your course – well for that matter any courses. I dont believe in paying more than a few hundred for a course.
But I see merit in your approach. Instead of trading shares/options – i have a full time job. But i like the buy, renovate, hold, buy, renovate, hold strategy.
Or you save a BIG FAT deposit.
I want capital growth properties. Sure there are short term pains with negative cashflow then over time they grow and become cash flow positive.
As property investing is a long term proposition – I prefer capital gains.
But there is nothing wrong with a portfolio of both.
I just got my rates notice yesterday on a property.
Site value
2003 $220000
2004 $ 280000 valued at 1 july 2004.
ie. up 27%.But the home is still worth what it was 12 months ago. The home i reckon is worth $360k and was probably the same 12 months ago.
I am in Melb.
