[CocobeanParticipant@cocobeanJoin Date: 2009Post Count: 33]

October 14, 2009 - 5:54 am

A friend has a flat in backyard they rent out and doesn't want a criminal living there.

[CocobeanParticipant@cocobeanJoin Date: 2009Post Count: 33]

September 26, 2009 - 1:02 am

Are you worried about risk? Why have you just saved 160K and not got it working for you? I'd be buying my own home (unless you live rent free with family or something). I would look for a comfortable cheap home, so not to borrow too much more on my ppor. Then I'd borrow more to buy investments. That's an easy one!

[CocobeanParticipant@cocobeanJoin Date: 2009Post Count: 33]

September 26, 2009 - 12:57 am

I dont have experience investing there but my understanding is that Chinchilla has risen a lot in the past due to mining, and both Chinchilla and Dalby have substantial mining projects both underway and planned.

Personally I would be wary of small towns proped up by mines. If those towns have other major industries to support employment other than just mining then I'd consider the area.

[CocobeanParticipant@cocobeanJoin Date: 2009Post Count: 33]

September 26, 2009 - 12:47 am

I would think about strategy. If you buy an investment and hang onto it for the long term, then it doesn't matter if the market melts down. Pick a house in an area with some guarenteed rentability, good location, transport, schools, shops etc, then ride the waves. Also if your first investment is positively geared, then you have some cushioning should your second investment find hardtimes.

Sounds to me like you are smart enough to do your own research and not worry about what 'others' tell you. If you are ready to invest again, buy well and hang onto it, it doesn't really matter if the market has a down turn cause you have buffered yourself from the storm.

[CocobeanParticipant@cocobeanJoin Date: 2009Post Count: 33]

September 26, 2009 - 12:37 am

It will pay dividends in the way of leveraging you into more property. You haven't mentioned if you own your ppor or not? I think this would be an issue because if you dont own your ppor and have a negatively geared investment, this means you will take much longer to pay off your ppor, which has no claimability, as your money is having to prop up your negative investment.

However it sounds as though your investment has had good growth in a short period of time. So surely you can sit down do some calculations and see how long (with increased rents) before it will become neutral or cash flow for you. Your $45k is worth more to you in the way of equity and leveraging you into more property than if you sold it, paid heaps in capital gain and came away with a few thousand in your pocket.

We learn along the way, I have similar investment hiccups but my advice would be to do some maths. If it is costing you too much and adding years of work onto your life then selling may be the option, however if rents increase and cashflow isn't too far away it may be wise to hang out for a while.

[CocobeanParticipant@cocobeanJoin Date: 2009Post Count: 33]

September 26, 2009 - 12:24 am

Yes I'd think it was very bad debt, as it may be some time before you can get a deposit/loan, I'd be addressing the issue of how I managed to spend such a large amount of money on credit/personal loans especially if it was on material consumption (disregard of course if it was a matter of urgency/critical situation). I would think about putting in place a good budget and savings plan and also in the meantime researching and studying the market and different approaches to property investing. Before you know it you will be in a better position finacially and ready to invest

[CocobeanParticipant@cocobeanJoin Date: 2009Post Count: 33]

September 15, 2009 - 7:09 am

Richard, what about adding a name. If I was to add my husbands name to the title? Does that cost?

[CocobeanParticipant@cocobeanJoin Date: 2009Post Count: 33]

September 15, 2009 - 5:44 am

Thanks for that info. You learn so much as you go along and strategy changes. I always did plan to sell it and I guess if I set it up that way, that is just what I should do.

[CocobeanParticipant@cocobeanJoin Date: 2009Post Count: 33]

September 15, 2009 - 2:43 am

goosehead wrote:

Doesn't the DS come in to count when you sell the property buy 'lowering' the purchase cost for CGT calculations?

This is what I thought, you end up paying more CGT if you sell but Tuggerwaugh wrote in a post above the following:
' It does not get cut from your selling price, instead you claim a depreciation for tax purposes each financial year'

Can anyone clarify?

[CocobeanParticipant@cocobeanJoin Date: 2009Post Count: 33]

August 15, 2009 - 7:14 am

So can someone explain to me about street rating? Does it mean that if it's 0 rated, then it's the cheapest house in the street? Are the values representative of the actual price of other houses in the street?

Also in regards to sales history, is the upgraded sale price, the price the owner paid when it was last purchased?

[CocobeanParticipant@cocobeanJoin Date: 2009Post Count: 33]

August 9, 2009 - 12:37 am

I feel that if I do my own researching and ask lots of questions and read books then I can find the best path and opportunities that suit me and my family rather than relying on others to tell me. Sure get some good financial advice but back it up with your own research.

I wouldn't restrict myself to Perth or what a business person suggests. You are obviously very new to this, so no need to rush, if you miss a great opportunity there is another just round the corner.

Read a few property books, spend some time on the net, you'll learn heaps!

Goodluck.

[CocobeanParticipant@cocobeanJoin Date: 2009Post Count: 33]

August 9, 2009 - 12:28 am

I disagree!

Ipswich is a great place to invest depending on strategy. The area is rapidly growing, major investment in the way of infrastructure and employment opportunities. Amberley will be become a mega base and citiswitch will bring huge employment opportunities as well as the Ebenezer Business park. It will become to Brisbane what Parramatta is to Sydney. The council is doing great things!

While Ipswich has seem some fantastic growth in the past 10 years, rents still have not caught up. So at the moment it is hard to find good cash flow properties. However I think the next few years will see good rent rises and while it may not boom, good steady growth will result.

Last week Lomas spoke on the radio and highlighted Ipswich and Gatton as good investing. Gatton is having a prison built which will boost that town. Ipswich East is still undervalued. Sure there was mining underground but there are mines under many Australian towns. Collingwood Park which is a fair way out of Ipswich city had subsidence issues last year. Just be mindful of the areas which have subsidence or black soils. Collingwood park has had subsidence issues for years, so if investors bought there with it's history perhaps they didn't do enough research.

I always have my eye on Ipswich.

[CocobeanParticipant@cocobeanJoin Date: 2009Post Count: 33]

July 30, 2009 - 1:34 am

What do you all think about investing in Mildura now in 2009? Apparently the worlds largest solar station is planned for the area. It's obviously a plodder area, wonder what vacancy rates are these days?

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July 28, 2009 - 4:38 am

Shivers Yeah, you have been ready for a while with 77% ownership. Just make sure you find an IP which has good rent and rentability. Do your maths and what Miike said factor in some interest rate rises but I'd be going for it.

[CocobeanParticipant@cocobeanJoin Date: 2009Post Count: 33]

July 28, 2009 - 4:31 am

Are you looking at Brissy cause you want to move there? You'll be flat out finding anything 10km from city with that budget that wouldn't need work done. What about along the train lines out to Ipswich or Caboolture? Ipswich is booming, so much infrastructure being put in place. I am currently trying to decide myself. Goodluck

[CocobeanParticipant@cocobeanJoin Date: 2009Post Count: 33]

June 3, 2009 - 5:16 am

I guess the other thing that concerns me is that if I was to rent the house on the block out, would an unapproved home be insurable?

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June 3, 2009 - 4:44 am

Thanks for your help.

So what do you think it would cost to demoslish a 3 bed house or the costs to have approved. I'm wondering so I know what offer to put in on the property.

[CocobeanParticipant@cocobeanJoin Date: 2009Post Count: 33]

June 3, 2009 - 3:35 am

The house is 3 years old, owner builder. It is on a large acerage in the country. It doesnt matter to me that it's not approved as I am after the land not the house but I was concerned that when/if the sale goes through the council may somehow see it's not approved and want the approval done and concerned if it will turn into a heart ache I should avoid. The property is priced at land value only, so perhaps not a bargain but priced appropriately.

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June 3, 2009 - 3:06 am

Thanks for that!

[CocobeanParticipant@cocobeanJoin Date: 2009Post Count: 33]

June 1, 2009 - 12:48 am

Yes I would think that for your price range, Logan would be the best bet. Easy access to Bris and Gold Coast, freeways, train links and facilities galore.