1)Do the sub divide
2)sell the backyard
3) pay off PPOR
4)with $210k left(my calc) you have the perfect opportunity to a) do duplex on dads land(get a contract with dad first), b) reduce IP’s debt substancially whch you do get a tax advantage from(none on your PPOR), c)think outside the square for a minute.If c) then $210 gets you 10 positively geared investments in NZ and im not sure on Cap growth there yet, not enough research done by me yet.
OR 8 x $20k deposits($100k each buy) on houses/townhouses in good cap growth areas in qld. with $50k left for renos and cost buffer.So goodbye Centrelink, hello cashflow+ve with tenants now, no delay in funds in building duplex and no possible headaches with Daddy.
End result not 2 but 10 investments getting you great $$$ in as well as 10 asssets slowly increasing in value. Go figure what Id do. Easy call.
DD[buz2]
Just a thought. Daddy could possible borrow off land value(i assume he owns it) and then do the same with a few +ve investments himself.
Don’t sweat the small stuff,and it’s all small stuff!!
Dont have any advice as it looks like some one else is very knowledgable on the centre link part
But I do have a question,….Have you got a boat,? or a red car,?I would consider a sex change if that would help or we could be “just good friends” I sorta like that idea best, less complicated.
Regards maurn.[bike2]maurn if you are a surveyor an accountant, a builder or anything useful, I wont care what sex you are, we can be good friends and ill lend you my er…..canoe. [thumbsupanim]
DD interesting ‘creative plan’ there. As I only work part time the banks are reluctant to lend me any more for houses even if they are +cf. They argue that I couldnt afford to make the repayments if houses were vacant for any period.
Nar, I was thinking bigger,
I am always thinking bigger ,better, out side the sq,Now seriously…if the banks are getting nervous, you can look at a few Nonbanks. I know of a couple of frendly ones, who dont get scared when they find out you are a women with a brain and you dare to look outside the sq.Now thats not to say all Banks have reservations on lending to us sm.rt as.es . I am a first time reasonable new IP investor, but have been in home loan lending for 4 or so yrs and love learning and earning so I put them together and now I belong to the Wildly Wealthy Womens club and love the comrade get togethers
. [smartass]
As I live in brisbane maybe we could have coffee some time and discuss our interests, which of course is realestate and how to make a reasonable decadant living out of it.I am un ed umakated so excuse the spellin …regards maurn email [email protected] [angel][disguise]
An angel in Diguise.maybe I shouldn’t say which bank I should say
some loans managers..as there are a few women first timers .don’t tell me they don’t find problems . when the loans manager pats them on the hand and say’s “ok we will look at this proposal get your husband to come in and we can have a talk” [baaa]Thats one reason people like to talk in the security of their own home [angel][devil]
regards MaurnI wonder what the tax situation will be for Millie if she sells her back yard as against
selling her house (on a smaller block) ?Pisces
ezy- does this REALLY happen much nowadays?
You said:
“as there are a few women first timers .don’t tell me they don’t find problems . when the loans manager pats them on the hand and say’s “ok we will look at this proposal get your husband to come in and we can have a talk”
In 2004, banks know that women have an understanding of finances, and also that we buy RE. I am wondering if Wildly wealthy Women are talking up that kind of sexism to *create* the niche to sell their products. I am not suggesting that RE is not a sexist industry- bank managers, RE agents, developers, valuers, quantity surveyors- those professions probably have FAR money men in them than women, but I still think women get a fair go *generally* in RE now.
I personally think every woman on this Forum would smack a bank manager upside his head if he said such a patronising thing to her.
My bank manager is a woman- a very nice woman too. I do think the industry is changing.
kay henry
yes of course there is an asset test and income test to be eligible for Centrelink and i do not exceede them (yet).
The reason I was able to secure loans for the IPs was because I work part time regularly as a supply teacher and because I have huge equity in my home.
People are permitted to have assets up to the value of $300,000 before Centrelink payments are completely cut.As for income, just because I have two IPs doesnt mean I am receiving much of an income from them. Luckily for me the houses pretty much pay for themselves.
So the reason why I wanted to protect my ‘measly’ centrelink payment was so i would have something to live on when I wasnt working (like in school holidays).Every fortnight I phone in with my earnings and my benefits are adjusted accordingly.Some super ppl might be able to work full time and raise four boys by themselves but I would be a basket case. Financially, I would only be slightly improved when you consider child minding fees, health insurance etc.
Nevertheless there is a great deal of personal satisfaction in gaining financial independance and this is now my goal. I had only considered this was possible since reading this forum. (sorry steve I havent read the book yet). When I do make it, it will be due to the inspiration I received reading the posts of people here.
Hope this sorts things for ya Morty A. [biggrin]
I dont know that this has anything to do with my sex but I do know when i first approached a bank for a loan to buy an IP they laughed me right out of the place. I had a house worth 300 to 400k and a mortgage of 13k and worked partime. This was about 3 yrs ago.
I had 2 children crawling about my legs, I knew next to nothing about finances and IPs and I certainly did not have the self confidence to smack anyone.
Beginning of last year, at someones suggestion I approached a broker who has managed to arrange two investment loans with that VERY SAME BANK![ohno]Again I say I’m not assuming this had anything to do with my sex. It does however seem that there are mostly men to deal with. I admit I’m sexist enough to ask to see the female estate agent over a male. Praps I assume the female wont take me to see an ugly property. [tongue]
No the Wildly wealth women did not convey in any way , the sexist things that I dared to say..
and yes you are right most people male and female have had good results in the finance sector. but yes there are those out there that make somewomen feel uncomfortable. for example the bank manager that laughed at the the lady asking for finance and said come back when you earn enough, which bank was that , well I did the loan for her and she has now started to look for investment properties because the house she bought has increased in value by $100.000.{No I wont tell you where because I intend to buy every thing in sight.}[cigar]does any one know of any good joints for sale
and the lady who went to another bank a lady bank manager who made her feel so bad and spoke to the customer as if she was dim witted.
another happy client for me the broker.
I dont think all men are sexist nor are all women.
but if you dont think this sort of thing happend , think again…I should now get off this topic[offtopic]
ezy does it again.ezy, it’s fine, and the topic came up within a topic, so it’s not really off-topic
I have no doubt sexism still exists within RE, so probably, does racism, and so probably does ageism- as in, people getting treated worse because they are older (or younger!) and not taken seriously. It’s good you’ve mentioned it- a reminder that we still need to challenge that stuff.Thanks, ezy
kay henry
Milly,
Often female REAs are better at their jobs than male ones.
Frankly you might find it easier to negotiate a better deal with a male agent than a female!
And my partner does a lot of dealing with REAs (does most of our frontline negotiating, I’m the back-up). She also finds it easier to negotiate hard with male REAs.
Don’t challenge it if you can make it work in your favour!!!
Cheers,
Aceyducey
Originally posted by Milly:
Some super ppl might be able to work full time and raise four boys by themselves but I would be a basket case.Milly, I’m surprised you are still sane now[biggrin]
Cheers
Mel
I have no doubt sexism still exists within RE, so probably, does racism, and so probably does ageism- as in, people getting treated worse because they are older (or younger!) and not taken seriously. It’s good you’ve mentioned it- a reminder that we still need to challenge that stuff.
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