Thanks all for your inputs,
After reading your reply I think I should give it a miss. It’s a good price if I only need to do minor work for the bathrooms and repaint the inside. I just don’t like to worry too much later on. It’s not worth it.
I know, I know, I know, Mel!!! but I can’t explain well enough to convince my hubby, my son & his wife that we should buy it in Trust. I don’t know what structure (who are the trustees, appointer ….) that we should set up to protect everyone’s interest. It’s not simple questions like I asked above.
Newington is the Olympic-2000 village in the…[Read more]
I’ve learned that if I don’t make a quick move somebody else may buy the property that I want to buy. I would feel disappointed but I could still find and buy another one. If I plan to visit my parents and keep postponing the trip I would still taking the trip but to his/her funeral.
I’ve learned that if I accepted my dad’s money to buy a house…[Read more]
Originally posted by Shushar:
So the moral of the story is that we should give up buying IPs & become cleaners!!!
“All our dreams can come true, if we have the courage to pursue them.” – Walt Disney
I think the moral of the story is: when we have 101 IPs don’t forget to spend time lazying around kissing our wife/hubby if we…[Read more]
No one says cleaners are lazy. I know many of them work very hard to send their kids to good schools and build up their wealth. Most of them enjoy life by seeing their kids doing well at school or a good bank account balance or counting the number of IPs.
Only the mentioned cleaner knows how to enjoy life in a different but truely…[Read more]
Huey replied to the topic dividing property 100% me 0% my wife – good idea ? in the forum Help Needed! 16 years, 7 months ago
As I understand there are many advantages in buying IP under Trust but there are also a few disadvantages like:
– can’t claim loss against your taxable income.
– 0 thredhold on land UV (unimproved value) for land tax in all states except ACT & NT.
These can be few thousand of dollars out of your pocket in the 1st few years. Pls…[Read more]
I think a basic salary + performance pay is the way to go for teachers. Good teachers should get higher pay.
There is a surge in the university entrance score this year for BE. It’s higher than many other courses. It’s just a case of demand/supply.
If teachers get a salary = doctors, one needs to achieve around 99.8% to get in. As the result…[Read more]
Huey replied to the topic Should we help our kids to get their 1st property? in the forum Opinionated! 16 years, 8 months ago
Congratulations SIS, you’ve done well. Your sister must be very happy.
I still wonder if your method is cost effective because you will have to transfer the property to her name later. Do you do it that way because you don’t want to become her guarantor?
It depends on what your definition of Retirement. If it only means leaving the mainstream work force : Yes I’ve done it via “early retirement”. However I find out that after retiring I do 101 other jobs, “real handyman work” and some volunteer work as well. I save/make heaps of money by doing things myself but I also spend heaps of money because I…[Read more]
I think the number of IPs we want to have depends on its total value or its incomes and what we want to do with our life.
I wrote in an earlier post that my husband & I planned to have an IP each and paid them off when we retired. The incomes generated from the 2 IPs would supplement our superanuation pensions so we wouldn’t need any…[Read more]
They won’t pocket all of 85K (210K – 125K). Apart from agent fee they have to pay solicitor fee, loan discharge fee … and capital gain tax on the half of the amount which will be calculated approx. as shown below:
85K – agent fee – stamp duty when they bought – solicitor fees for buy & sell – other expenses + claimed…[Read more]
Huey replied to the topic Should we help our kids to get their 1st property? in the forum No Subject 16 years, 8 months ago
Wow! I can see my problems clearly now. I know but always do everything for my children readily & unconditionally. Like father like daughter, It’s the root of my problems. HELP ME! I have to learn NOT to. [:p]
Thanks Melbear, Wrappack, Bron and others who wrote to me privately. I really appreciate the kind thoughts I have received from this forum. Just to let you know that I’m ok and I’ve learnt heaps from this sad incident. I value more what I’m having and I also see clearly the danger of investing heavily in negative geared properties. We shoul…[Read more]
Hi Fullout. I use more paint than Simon. You need to work it out your self, based on 16 m2/litre. You need 2 coats and use differrent types for room walls, ceilings, bathroom/kitchen, doors/windows.
I had 2 quotes to repaint only walls in my kitchen/dinning, TV room & lounge room. Both quotes are $2000. I did the job myself for less than $500 for…[Read more]
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