Forum Replies Created
Hi folks
it arrived – by post!
I have received buyer beware package despite mis delivery – australia post strikes again but it is more the delivery person in our area. It has been a great listen and read so far, very practical!
There may have been a problem with the ordering system as I had to put the details in several times before acceptedthanks again
Hi
Caboolture is my back door and I have looked at it very closely. I have several problems with the above example, 1) it does not meet the “30 second solution” 2) if you are not on maximum tax it’s negatively geared – as are most 3) to salary sacrifice – you need to get the advice of a registered financial advisor (tax agents cannot give financial advise from 1st April 2004)you can reduce your gross wages by sacrificing and/or packaging(put money into super and/or pay regular bills from your gross wage). this reduces you gross wages and therefore your tax each pay
(there may be a nominal cost). WARNING at the end of the finanical year the tax department will add back any packaging except super and re caculate gross wages and your tax bill – too many have had a big tax bill at the end of the year. the same problem occurs if you claim investment property expences on a per pay basis if you are trying to making a property positively geared by including tax incentives and claiming each week instead of waiting for a return. STRONGLY NOT ADVISED. If you are in receipt of any centrelink payments you have to add on all packaging each fortnight for centrelink payment caculation (salary sacrifice into super is the only deduction centrelink will allow)Basically if you’re not on maxium tax you will need to find a property that is positively geared before any tax incentives are included – accept as a bonus only especially in the begining. Have you read any of Steve’s books?
good luck!!!!!!!!!!!!!1
this seems to be a pattern, why did they allow such small bids, what happen to working for the seller who is paying you?
one show I forget which actually had the RE pressure a couple to put the hous “one the market” as the RE walked away the wife said something like”if it doesnot come up high enough can we refuse the bid” so much for the agent getting informed approval!we wer actually turned off an auction for my mother’s house because it needed a bit of work. went on the market saturday, contract saturday night – asking price, for the next week we had offers coming higher and higher but as we had accepted the original offer we had to go with it – and weren’t the purchase a pain! I am sure the sale had been prearranged and the RE was working for the purchasers. we live and learn – oh the property definately have position, position, position – position!!!!!!!!!!!!
I still have not got buyer beware or response to follow up emails – I did get a receipt
Elizabeth
Hi Elves
yes our situation is different husband, kids, dog!
the tax agents told me today as of this month they cannot act as financial advisors any more but, he did say if we want to use investment expenses to reduce personal tax liability – we cannot if we use a trust – any thoughts?thanks
Hi Ian
we have been out and about several times a week. had a lovely day on the sunshine coast-saturday, beautiful very heavily negitive geared unit at caloundra – would be better for those in a higher tax bracket. Did see some units 2 of which we a seriously considering just waiting for replies from the all important team members, Also trying to find a good trust solicitor in Brisbane – any suggestions
Elizabeth
tried the 6 minute email 3 days ago, no order, no response from emails — ???/is there a glitch
thanks folks
interested in that govt website if you find it Chan
is Lomas the one that advocated “take the rent and multiple by 1,000 for the price to pay for a +ve property – unfortunately today there are many of these but they hardly cover the morgage payment. She may have been thicking like a private seller I spoke to the other day” if you put a larger deposit on it then it will be +ve geared”
in a way he was right but I did not want to tie up that much money in one propertyHi Benson
cann’t help you with the rent but we juggled between split and ducted for our own home quoted $8,000-15,000 for ducted (could only use in zones – only one area cool at a time) put in 4 split systems 1-4hp. that was 2 years ago and we haven’t been sorry max electricity cost $25/week all going 24/7 through the heat(which was excessive, use but husband medical condition required usage). friends put in one 5hp for open plan and saved on insulation and cleaning. we have stayed at places with ducted i/c and they haven’t coped with the heat – total waste. No one has mentioned servicing that should be done professionally at least yearly c$60/unit more for ducted- who pays?, regular maintainance weekly to monthly by who?
NUMBER ONE AND PROBABLY CHEAPEST – is your property already insulated?
there are other alternatives to a/c “breesemaster” which is basically a commerical exhaust fan in roof- worked wonderfully at inlaws place only 20-25sq didnot work with 2 in our place ?too large ?not correctly positioned when installed – installer was the “expert” and refused to listen. you might also consider whirly things in the roof which can work on power of electricity or rising hot air added advantage it keeps timbers dry to prevent rot and damage from humiditydon’t be tempted to use “interest free” on your electricity bill with out knowing more than they are prepared to let you know – SEQEB QLD add 30% to every quote before forwarding to client
If I had a complaint about our a/c would be I paid $100 extra per unit for reverse cycle, coolling alone can be set on fan or 17 – 32 degrees before changing to heat!have you throught of planting some large native shade trees or disiduous(looses leaves in winter – never could spell) mature more expensive but cheaper in the long run may add CG from a cooler house and better street appeal or landscaping- just a though!
breakingout
Hi
I am also wondering were these properties are hiding
your example property would have to be reduced by 15-20% to meet the 11 second rule – wouldn’t it
confused
breaking outthis is breakingout O did not place this topic
Hi folks
thanks-think? looks like a lot more “work” pity I have to work tomorrow. I can feel some more questions coming
breakingout
thanks for you support. I’ll keep plugging
Hi
We in a similar situation – no cash – 3 kids – 2 teritary, 1 high school, medically disabled husband and I am primary carer so can only work 3-4 days a fortnight – but we have equity!
we are currently organising finance through a broker. we were dubious at the time as we thought we would not get anything – that’s what the bank said. It sounds weird when put in writing but here goes
1 you use your equity in your home and ivestments to fund properties,
2 the income from investment properties goes into you home morgage with your normal morgage payments
3 expenses are paid out of increasing investment loan/account
4.you only pay the interest on your investment
account
5. once you have paid of you home loan (one investment property can reduce home loan to 8 -10 years more reduces further)you can either continue making morgage payments but into investment account or alternative investments
Steve divides his into 3 -have you read 1-130 properties see resouse site on forum and steve’s section
6. remember as you are excelerating your morgage
payments and you have capital growth in you home, these add to speed equity in your home to eable purchasing more propertythese figures are based on -ve geared property which we are avoiding so the effects on your home morgage/equity should be enhanced
we were sceptical after talking to the banks but there are quite a few brokers offerring free service to appraise your situation – yes there is a cost but in our case it far out weighs not doing it – we should have done it 4 years ago and stopped(kissed good bye 1 mill+ capital gains in homes we were going to purchase)
check finance form as we did and it was given the go ahead also – it cost nothing to get the figures from a broker – maybe someone could suggest some for you to contact in your area
GOOD LUCK!
Hi
natives sound good I have quiet a few and the thrive on neglect, longlife fertilizer, very occassional trim (if they grow out in the wrong place) look at what your local council is/has planted
becareful putting anything in that is “too easy” to use water,especially if it is included in the rent – one life style show said the average garden uses either 40- 60% of total water usage. as a tenant may not be as careful or conscious of there usage if they are not directly paying for it.
channel 7’s ground force had an episode on “xeriscape” gardening this week, (minimum water or rainfall only) there are supposed to be quite a few websites about it, but I haven’t had a chance to look yet- it is on i7 groundforce.
if your in brisbane buyna nursery is supposed to have tube stock for 75c – $1.00 further discounts for bulk buys – burkes backyard had an australian wide list last year may still be on his site.
enyoy your gardening regardless of the financial gain
apologies typo yes 11 second solution but when your tired and frustrated it seems to take longer
tycoon, I was getting frustrated after weeks but participates on this forum have been helpful and positive. Keep going, do more research I am finding out more each day, get out of your comfort zone I did and I think I have found my first purchase and I am in contact with a “spotter” for another. remember its not a “get rich quick”option (although what was done by Steve is head spinning) but the process gets easier with more knowledge and perservance – annoying to keep hearing this I know! GOOD LUCK
Rolf, speaking to a real estate agent in Rocky this week I was told that what I was looking for was “mission impossible” “too late” but I think what others think impossible is what we are looking for. four years ago my husband was put off by several different agencies in 2 specific areas that “good for families but they had limited/no potiential for investment” – both areas house prices have trebled in the last four years!!!!!!!!!!!!!!! sob!
as most people on this site will tell you do your own research. As a professor once told our class there is no need to study – read, read, then read some more, discuss with all who will comment – you will find more questions and in turn “know” more about the subject than you would ever know from “studying”interesting site. is there a southbank in Melboure?
