Forum Replies Created
I have my properties registered in my name for tax purposes. My properties have all started out as negative geared ones and you can offset losses against other income.
Unless your company earns other income you cannot do that as the losses will accumulate over time.
But go seek help from an accountant for proper advice.
I would not buy sight unseen. In my view there is nothing that would alleviate the risk in buying a property unseen.
The only exception is unless you know an area well. You know it well and the surrounding area. You seen the streets and know its a good part of town.
In my view – whats $1500 in flying there and getting a valuation when you spend in excess of $100k.
I know some from this forum do buy sight unseen – but not me.
My advice – get your money back.
What does he really know about Australia.
Surely he will just rehash the stuff that Steve explains in his Book and seminar.
Use the $5000 as a deposit on your first property.
Mini
Tell us something we dont know. Its the herd who pays $1200 for Steves courses and its those courses and Books that pay for this web site. Once the herd starts loosing money and becomes disillusioned then the real players can make more money.
Why dont you have a 100 word limit.
Try another, then another.
No property is uninsurable. The only thing is the premium. Somebody will insure it for. Its just a matter of working our what price an insurance company is prepared to receive to carry the risk.
Go to an insurance Broker – they should be able to help. They want your commission.
I suppose it does. I am not comfortable at this point of time to look at places like that.
I doubt Steve will be there.
He may charge you all $1200 to discuss the proposed agenda.
But I do understand he did attend a vendor finance evening a few months back.
Good luck with it Krazy.
I just have concerns for the future (next 2-5 yrs). We had a rate increase of 0.5% and my latest property purchase in 2002 probably has gone down 10%.
I only see interest rates going up again. I have fixed rates.
I cant see how we can keep property prices where they are now. How can a newly married couple afford a property worth $300k, when back in 1997 they were worth $130k. Back then I thought $130k was alot of money.
Salaries have not increased over that time to support those values. Its interest rates that allow those valuations. As interest rates will rise as the US economy improves, then it stands to reason property prices will fall.
In my investing time since 1997, I have not experienced a down turn.
Now I am looking at some decreases in value and not to mention the painting and repairs that are needed over the next 6 months. We still need to find the money for that.
So those who have purchased in the last 18 months will soon be looking at negative equity and VERY slow growth and the problems of owning properties – repairs, tenants, cleaning, painting etc, etc.
Anyway – maybe its just me.
MartinW
I like to hear alternative views as well. I still believe there are inherent long term problems with positive geared properties. ie. rural properties dont appreciate as quickly as surburban/city properties.
Investing is really about buying assets that appreciate and make you wealthy over a period of time.
I dont believe everthing I read, hear or am told. If I did, I would never have bought my first property bak in 1997.
I totally agree with the comments of Wayne L.
below_______________
The same thing happened in sharetrading forums at the start of the bear sharemarket.First, people get narky and argumentitive, then visitors start dropping off.
Sign of a bear market folks.
_____________________________________I reckon, even this web site may not be around in 2-3 yrs.
I recall during the IT boom, there was a web site called silicon investor. There were like 10-20 postings a day about some companies. The web site is there and now you are lucky to see 5 ostings a month.
Same will happen here as people have not been able to achieve what was achieved during the boom and many people will become disillusioned and fall off property investing.
Especially those stuck with crap rural properties sight unseen, needing renovations and sitting empty or needing some work to get to a rentable condition.
Even I dont feel as confident as I did 6 months ago.
a) Whether your first porperty was a PPOR or an IP,
PPOR
b) What made you think about buying a first property?
Did not like paying rent and paying off their loan.
c)When you found the one you bought, why do that one suit?
The loan was under control. 2 bed unit accross the road from beach and walking distance to station. Wish I still had it but needed to update to a house.
d) Was the first purchase emotive or done under proper due diligence.
Probably emotive. I did not do a great deal of research. It seemed ok at the time.Eh Krazy
Whats the Agenda
1. Introductions
2. Positive v Negative gearing
3. Tax implications
4. Get a drink
5. Which areas are best
6. How to finance – how much deposit
7. How many properties you got
8. Gee – like your car.
9. Rural or surburban
10. Real estate agents
11. Wrapping or Ripping
12. Dont we all love Neil Jenman
13. Get another beer – is it really that late.
14. Growth towns/surburbs
15. Is Mini mogul a mini mongrel
16. Does Westan live in NZ. Does he support aussie rules or rugby.
17. Should Steve wear glasses or contacts
18. Houses or Units
19. Free Land – want to deal
20. Want to buy a unit from the builder at wholesale prices.Well – sorry – cant make it. I got some grass growing that needs a watching.
I dont do interstate for the reasons you mentioned. But there are others that do eg. Westan. But for how long have they done it? Thats what I would like to know!!!!!!
Go have a look. The land is probably falling down towards a cliff. Or your next door to the new mine being developed. Or your 3000kms from Brisbane.
Ho Hum. Probably same article as last year – just changed the date. How many times, have I read this type of article.
Well its hardly free land then. Obviously its taken into account in working out the split or joint venture.
What happens if there is a dispute. The land is in their name, the building is on their land. You are stuck with bills in your name.
No thanks.
Yeah – i got this email from a colleague at work. Well worth a read. Makes sense.
Where is their land situated? Near the black stump?????
Who really wants to meet. I can think of 100 other things I would rather do on a Sunday afternoon.
Talking property investing is not one of them.
