Forum Replies Created
Taylah,
I bought a property for $116,000 July last year. Rents for 150 per week. Does not meet the 11 second rule. [
] However my hubby – the excel wizard – did the 12 month spreadsheet on it and without depreciation I am out of pocket on a P&I loan $28 per week. [] If I was interest only it would be cashflow positive. [] HOWEVER I kicked a $55 per week ciggie habit 5 months ago. [][][8D]Therefore I can afford two houses losing $28 per week as my reward.[^]
Fibejebe.
[]Hi Fudge,
The model you are proposing is one that Paul Clitheroe advocated on his “Money Money Money” TV program some years ago. His idea for retirement was that you needed 4 freehold houses. You live in one and rent the other three out. One pays your tax etc and the other two are your income.I was planning to use his model, and well on the way to achieving it when I met my hubby. He follows Kevin Young’s model of +cf plus capital gains. He is therefore an interest only man. That is OK tho as we can use the substantial equity we both have to get more properties.
With the model tho, I do not believe that income from 2 properties was enough. Depends where they are but say they were $200 per week, could you retire on $400 pw? You may be able to answer yes to that. I guess it is up to each o9f us to determine how much we need and then find the best model to meet that need.
Fibejebe.
[]Not specifically a property investing program, but we are about to purchase this one:
http://www.mortgagewatchdog.com.au/default.htm
Basically will tell you how much the banks are ripping you off. Cost $200 and has a $300 money back guarantee if you can’t find any overcharging by the bank.[]We are wondering about getting Rick Ottons Wrap Pack. Has anyone tried this? I tend to be a bit suss about so called property investors who seem to be making more money off their product selling than off their actual properties. [xx(] Don’t mind paying a few hundred dollars for the right advise but once it gets into the thousands I get a bit sceptical. Does anyone know of any good Wrap software? [
] Basically we want all the legal forms etc. We already have a wrapee ready to go. Just got to find a property and a good accountant.Fibejebe
You pre-empted my question Barbara. Last night we got offered a QS report here in South Perth for $440 through the Investors Club that we belong to. They said that they can cost up to $750 to get it done privately. I was wondering whether they were inflating the price for their own means however appears not.
Cheers.
Fibejebe [8D]
a Quantity Surveyor will prepare a formal report for you that you can use for depreciation purposes (mmm more money back!!yippee)[][] .Of course there is a charge which last time I checked ranged from approx $450 – $700 (in SYD).
Cheers…Barbara[
]Hey Painter,
Which town has Tim Shadbolt as Mayor? [] Wherever that man is, is likely to be a good investment. []
There is Kentucky Fried chicken here, but no McDonalds, heaps of childcare places, good schools, they run some of the “free fee” courses here, in conjunction with the Invercargill Polytechnic (SIT),Check with your human resource department. I salary sacrifice my mortgage on my PPOR [8D] but can not legally do so on an IP. There is also a limit to the amount you can package a year before fringe benefits tax applies. My employer is a health department (State governement.) There are different rules for public and private employers. I can purchase a car on a novated lease but am unable to use this principal on investment interest.[
]
Dear all,I heard that you could scarifice part of your salary to pay off interest in an invetsment loan. is this legal?
Regards
G-Ster
I was very happy with the first property manager I had. Unfortunately she left that company. I wish I knew whether she was still in town working for another company as I would happily take my business there. Sometimes I would get peeved that she contacted me too often, but that was better than no contact at all which (other than the monthly statements and written reports) I get at present.
We will be renting my hubby’s place out in the next month so will do a tour of all the property managers before then. [
]Hi Prop16,
Both hubby and myself had trouble opening any of the propertyinvesting.com pages last night approx 7PM AEST. [!] We were on 2 seperate computers on 2 seperate dial ins. [xx(] Just assumed it was a server problem with the propertyinvesting website. Working fine tonight. [8D]
Hi all,
Great site and great info!![] My wife (of 8 days) !![:X]) is a nurse and I am an estimator for a building company.Hey. Guess what? I have been married 8 days too. And I am a nurse, and my hubby is an estimator for a building company. [
]And my hubby’s nickname on this forum is o2bfree. Hi honey!! [
]Wow. Thanks Steve. [:X]
We ordered your book, Fast Track and Buyer Beware and got the lot for the $9.95 postage which as you have pointed out really is a freebie. [] so what a bargain. []Saw you on Today Tonight last night Channel 7 Perth. We are ready to get 100 properties in next 4-5 years. Already have 4. No doubt will have lots of questions in the next few weeks.[
] 2 properties per month for 3 years and we are out of the rat race.[^]
] However my hubby – the excel wizard – did the 12 month spreadsheet on it and without depreciation I am out of pocket on a P&I loan $28 per week. [
] If I was interest only it would be cashflow positive. [
] HOWEVER I kicked a $55 per week ciggie habit 5 months ago. [
][
][8D]Therefore I can afford two houses losing $28 per week as my reward.[^]
