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Cremin
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@cremin
Join Date: 2003
Post Count: 105
November 17, 2004 - 11:28 am
As far as i am aware, when you buy a display home you don’t get any fittings or fixtures included in the price. Not sure if that applys in your area or if it is standard with all building companies.
Ps check that it’s insulated too!
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
November 15, 2004 - 3:15 pm
There were heaps at start of year, but market has caught up with rest of country, so +cashflow houses are getting harder to find. Me in Geraldton and looking currently. Oh well, I’m sure something will pop up.
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
November 15, 2004 - 3:13 pm
Sorry haven’t replied. I saw REA today, but forgot to ask. Am seeing again tomorrow so will ask then… I will get you an answer…
Steph.
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
November 14, 2004 - 4:11 pm
The old saying “A penny saved is a penny earned.”
Seems to have been overlooked here. I’ve recently made myself a still from which i produce my own pure alcohol spirit. Costs me about $7.00 to make a pretty decent bottle of whisky. At a geuss i’d say i’m saving about $30 a week. Might sound like peanuts but $30 x 52 weeks = $1560pa multiply this over the next 40 odd years and i’ve saved $62400.00. Only cost me $500 to make my still! not a bad investment plus a great little hobby. Not to mention the $20 i save by taking a hip flask to the pub with me each time. Maybe that should be a dollar saved is a dollar earned!
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
November 14, 2004 - 3:42 pm
For the average person with no experience in building a house, yes pay the money. Just keep your fingers crossed that they actually do their job properly. Personally i’ll never have another one! I am a tradesman and for a start i picked up on more problems with the house we bought than their inspector did. Only to then find out that the t@sser didn’t even stick his head up into the roof cavity! Nor did he check the stumps properly as the house was too low for him to fit his fat arse under! Yet they were quite happy to give us a report saying everthing was honky dory. Nevermind the tree riddled with termites less than 1.5 mtrs from the house![withstupid]
Good luck!
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
November 9, 2004 - 4:23 pm
People like to feel secure. Maybe installing some security like an electronic gate in to the complex could warrant raising rents. At least something like this is only one initial outlay which directly affects all 4 units.
Anyway just an idea.
CYA.
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
May 18, 2004 - 9:43 am
% yield alone isn’t enough to base this decision on. Have a close look at the rental history (vacancy rates) for both, see which one is easier to rent.
If you bought the cheaper one you would still have $200 000 to purchase other IPs, therefore spreading the risk + increasing your net worth + increasing rental return ETC etc.
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
May 11, 2004 - 10:40 am
“(and before anyone gets narky….there is no offense or malice intended. The question is raised as a mere point of interest, entering into the debate is by personal choice only. The author hereby accepts no responsibility for relationship break-ups, injuries or loss of any kind.) LOL “
Ha ha nice one monopoly, i think i should have included the above in my last post.
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
May 11, 2004 - 10:29 am
“Unless you rip your tenants off and keep raising rents, which i don’t think you can do anyway. Or am i completely off the mark here?.”
It seems as though a lot of people have gotten the wrong idea from this sentence. I was not implying that i am or intend to rip my tenants off!. I agree 110% with Steve that your tenants need to be treated professionally as clients of your property business.
I was referring more to the fact that there are plenty of people out there who are paying to much for there accommodation.
I am also aware that legislation has changed in favour of the tenant, to protect them from the ruthless landlord, courtesy of the 80’s. This has snowballed almost to the point where a deadbeat tenant has more rights and power in a court of law than the landlord (or should that be landjester). Just ask anyone who has had to deal with a nuisance tenant who is smart enough to know all their rights and how to work the system.
Anyway getting off the point here, thanks for all the helpful replys.
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
May 10, 2004 - 12:29 pm
Thanks for all the replies everyone.[cap]
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
April 19, 2004 - 2:10 pm
That’s the spirit! Throw another mud ball at them.[satan]
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
April 19, 2004 - 1:41 pm
[buz2]Confusedus say “Man invest money on stockmarket, silly silly grasshopper.”
“man who divide 500 000 dolla into 25 equaw deposits, vewy vewy wise.[buz2]
Seriously, think about it, 500000 / 20000 (decent sized deposit for cheaper homes) = 25 potential properties. Lets say around the 120 000 mark in the cheaper areas.
This would mean his net worth would be 120 000 x 25 = 3 000 000 big ones.[biggrin]
Now lets geusstimate that the average rental was a reasonable $145 a week. $145 x 25 = $3625 per week! not bad.
$3625 x 52 = $188500 per year[biggrin].
I know what i would be doing.
Naturally all the fees and crap that comes with them would put a bit of a dampener on things, but you get the general idea.
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
December 5, 2003 - 4:19 am
quote:
I have Property Manager Pro Version 3.14, I can email it (6Mb) if anyone wants it. Also heres a freebie, looks ok.
http://www.otter-software.com.au/Software/PropertyTrackerPages/NEWSBREAKNOWFREE.html
Hi Oz, i’d like to try the software u have on offer.
[email protected]
Cheers.
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
December 5, 2003 - 3:06 am
Heres what u pay in WA.
Land Tax – Rates Effective for the Year 2003/2004
Aggregate taxable unimproved value of the land
Exceeding ($) Not Exceeding ($) Rate
0 50,000 Nil
50, 000 190,000 $75.00 plus 0.15 cent for each $1 in excess of $50,000
190,000 550,000 $285.00 plus 0.45 cent for each $1 in excess of $190,000
550,000 2,000,000 $1,905.00 plus 1.76 cents for each $1 in excess of $550,000
2,000,000 5,000,000 $27,425.00 plus 2.30 cents for each $1 in excess of $2,000,000
5,000,000 $96,425.00 plus 2.50 cents for each $1 in excess of $5,000,000
Metropolitan Region Improvement Tax-Rates Effective for the Year 2003/4MRIT is imposed at a rate of 0.15 cent for every dollar of the unimproved taxable value of the land.
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
December 4, 2003 - 4:19 am
No wonder your still in school!.[]
I’ve developed my own one second rule ‘if the property is over 100K forget it!’
Easy, maybe i should write a book.
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
December 4, 2003 - 3:39 am
Ps: Try this link sport. http://www.ato.gov.au/individuals/content.asp?doc=/content/29092.htm&pc=001/002/026/004&mnu=4189&mfp=001&st=&cy=1
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
December 4, 2003 - 3:33 am
Thats easy! Don’t sell either of them for a profit. Then you won’t pay any CGT.[^] That wasn’t much help was it?.
I’ve just come back from the UK aswell, god knows how you enjoyed staying over there that long!.
As i understand it, if you have held on to your investments for longer than 12 months you should qualify for the 50% CGT reduction.
Hope that one helped.[]
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
December 3, 2003 - 4:59 pm
We looked at Collie for a while too. Then decided the town was too reliant on the coal factor. Seems as though the town has reached a saturation point. Everyone has a job and a place to live and i can’t see many new job opportunities coming up. We couldn’t see anything that would inspire many people to pack up and move out there either.
C YA.
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
September 25, 2003 - 8:06 am
http://www.reiwa.com.au
Is a good site for stats in Perth WA. I think they have a seperate site for all states in Aus.
Real estate in western australia.
Real estate in australia
Real estate in ……….etc.
Work smarter, not harder!.
Cremin
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@cremin
Join Date: 2003
Post Count: 105
September 17, 2003 - 7:42 am
hmmmm, good questions. Well, Cremin and I would probably buy four places with $62500 deposit on each one. That would nearly pay the whole property off and once it is rented, the tenant would be paying the rest off and there most probably would be a lovely big cache of positive cashflow! I would probably fix the interest on 2 of the properties and have flexible on the other two.
That’s what we would do anyway…
Cheers,
Steph.
Work smarter, not harder!.