[happy3]

Lena

Lena

I hear what your saying.

What you need to realise is it’s easier to invest than to buy your own place. This is because you only pay a fraction of the morgage and the tenant does the rest. There is little wonder why so many people are renting their residence in order to invest. When your investment goes up in value, you can use the…[Read more]

1. He made the connection before seeking approval.
2. He chose an expensive option (which he required for work).
3. He demanded the reimbursement instead of asking politely, I don’t deal well with people like this.

Cheers, Lena

Thanks for the interesting reply, although I had to read it twice [blush2]. I must admit your view on the econimic climate makes me want to run to the hills! But I’m not one for timing the market, so I won’t even try.

Lena

You know this is the only forum I use for that very reason! I’m so tired of spam, especially when it sounds realistic, like posting “I’ve found a great deal” and they’re selling high rise apartments on the Gold Coast…

Lena

I wish credit cards and personal loans didn’t exist so people would have savings accumulating instead of debt , whether they liked it or not!

lena

I just read a book called “Rental Property and Taxation” by Tony Compton. It’s an easy to read guide about what is claimable, what you can depreciate, the actual process of depreciation, CGT etc. I still wouldn’t do my own tax, but I’m more confidant about talking to the experts now.

Lena [happy3]

u may want to find out how much destiny charges. i called them recently and was quoted $3,000 depending on the scope of your plans. i suppose you will get your money back using their advice, but i decided to invest in lots of books instead [grad] margaret’s books are great.

lena

lena

A large deposit is an easy way to ensure positive cashflow, but it’s not the best way. Some people will tell you that it defeats the purpose of finding a good deal. Try looking for properties that will be positive on only 10% deposit, this may not be easy but keep looking. I wouldn’t tie up 20% in one property unless I absolutely had to.

Lena

Lena
[builder]

I hope you don’t mind yet another question. I need some advice on removing wallpaper. It is a lovely 70’s bright orange floral pattern! Many bits are half peeling.

I called Bunnings and they told me to buy a wall paper removal solution and cover the paper with that. Another friend said that I need to hire a steam machine?

And then…[Read more]

Thanks for your advice, that’s great. We are nervous about this so in order to keep our sanity, we will do the minor things first and begin getting quotes for renos during the settlement period. I’m not in the position where I can fully renovate a house that I don’t techincally own, even though the risk is small, it’s still there! But I…[Read more]

Richard you have a very good point, if the adviser has his/her own succesful investment portfolio then they must be good at their job.

LifeX, this company appeals because I’ve read 2 of the principal director’s books and so I feel that I can trust them. The other advisor I called is also a published author, I’m not sure if I’m allowed to say their names!

I feel that this industry has too many people trying to sell something to naive people like…[Read more]

You can work out the gross yield as a starting point in deciding whether or not to pursue a property.

Rent x 52 / Cost of property x 100 = yield.

E.g. A house worth $280,000 with a rental income of $250 would be: $250 x 52 / $285,000 x 100 = 4.56

If your interest rate is more than the yield than chances are that it’s negatively…[Read more]

Yes I signed up, it is not so much a forum as a place to stay in touch with community members. We discuss things like meeting venues, resources and topic ideas.

I am looking forward to meeting you, feel free to PM me for more details or for any other info.
[jerry]

P.S. By the way are you Brisbane based? There are communities all…[Read more]

I decided that I would purchase a wireless modem from Telstra (got a quote for $70) and he can set up the account under his name. I think he expected a wireless card that costs $250 but I think the modem will do the job & that’s all that matters.

To everyone who said that this…[Read more]

You said you’ve been to http://www.888abundance.com but are not interested because it is selling something? You have got it wrong, the founder Gary Seeto may be selling something, but that is not associated with the investment community.

The members meet up and chat, exactly as you said. Gary is letting us use a forum section of his webite to…[Read more]

If you think you should have purchased the property at $50k back then so you’d be better off now, then buy it now and perhaps you’ll be better off in 10 years time. That makes sense to me!

Never say, should’ve, would’ve or could’ve!

Lena

Have you looked up the local council’s website? Some have more information than others. I was surprised to find so much detailed information on the Gold Coast City Council website, about their infrastructure plans…

Lena

I know, this forum is great for feedback, positive or otherwise!

How did you find that information about the new mines and army training centre? I try to research but I never come up with anything good!

I was looking at towns that the qld goverment is building housing in. I work for an architectural firm and we’re currently building…[Read more]

We have a group here in Brissie, our next meeting is on 29 Oct at the UQ St Lucia campus. We basically do research and discuss property topics such as strategies, finance, locations etc.

There is no hard sell, just a group of people who are passionate about property. I’m exactly like you, my friends are not interested in property and…[Read more]

I will go to a few in my local area to get a feel for it. I don’t want to go to a place I actually want to buy incase I get carried away the way most ametures do!

By the way is it true that I have to have finance organised before hand and that there is no cooling off period? Can I buy subject to building & pest…[Read more]

I suppose I should thake this as a sign that it is not worth persuing.

Lena
[worried]

Lena

The property was in Eagleby, but I decided not to go ahead with it (chickened out more or less) and now it is under contract. Am now considering Beenleigh, there are cheap units available around the $130 – $160 mark. What would be the market value for a 3 brm unit in this location? There is 1 on realeastate.com.au for $149k, I don’t…[Read more]

I do it here in Brisbane and charge a flat rate of $70 per hour.

Any interior decorator can help you too, you do not require a home staging expert per se. You can find a good decorator for under $100 an hour which is worth every penny when you consider the difference to your house profitability.

Lena
http://www.alotti.com.au

good point matthew about the tax bonus, i din’t even take that into consideration [upsidedown]

snowflake, we want to pay $400k because we want it to be a residence for us in 2 years time, we cannot afford it now. so it doesn’t have to have a good yield.

the other option that i was considering is buying a cheapie for say $150k…[Read more]

Our last property manager caused us a lot of stress even though nothing ever went seriously wrong. She rarely contacted us and when we tried contacting her, she was always so busy and slow in replying to emails. Many of her emails were single sentences like “I’m on it”. That was so frustrating!

We didn’t like being treated like a…[Read more]

You just articulated the negative thoughts that were clouding my thought process and decision making…

Everything you said is unfortunately true. I know the importance of working through all the issues as they can make a huge impact on my profitability. I just don’t want to end up being struck with analysis paralisis!

In short: I…[Read more]

You’re right about checking the vendor’s motivation. I was advised yesterday that he only wants to lease it for 6 months while looking for another house. So the cashflow could be the issue, perhaps we can offer $110k?

As for CF+ properties, I have resigned to the fact that they are non existent in Bris, & you know we’re not…[Read more]

Will be doing the research you suggested today Anthony.

Cheers [biggrin]

Dr X, I saw your article in this month’s API, impressive [exhappy]

Foundation, you sure are subtle [blink] something for me to think about…

Have you considered childcare? On your combined income you will get the complulsory 16% deduction from the gov’t & may be entitled to more. So that would cost around $10k a year. I know it’s steep, but it’s better than losing your wife’s $40k income. But that’s my oprion, I’m not a huge fan of staying home with kids!

alotti [rolleyesanim]

I’d like some details on your investment club, I think I can learn lots from you!

As you know I’m in Brissie, but I visit Newcastle often as my sister lives there.

Please let me know when you have the set up details organised.

Alotti

I’m not a fan of chance, I like to sleep at night so I will stay away from Tassie for the moment.

Karl, it’s funny that you mention the corridor between Brisbane & Gold Coast as I already have 1…[Read more]