Forum Replies Created
Another intelligent answer furrymoggy!
Ben
There is so much to learn, I agree with others do as much reading and looking on the net, especially on this forum to get first hand experience and knowledge to basically any subject.
I have built a team of people that are like minded and are trustworthy. Unfortunately it is both word of mouth and trial and error, but the end result when you get the right mix of professionals will make it all happen for you.
Good luck
Jenny1
Enelson
I sympathise with your situation.
Had another thought what about a letter to the Dept Transport/Roads re speed humps being placed in your street. Also keep a diary of how many episodes on any given evening, the power of the pen is really underestimated.
I personally would not be selling as you will end up with alot less than what you started with.
Good luck
Jenny1
Enelson
Not alot of info re your IP which makes it hard to give advise.
Could you either turn PPOR into another IP and rent or sell your IP and keep funds aside until your ready to try the property market again in a place where you would want to live.
What area is the PPOR? Have you tried to get a rego numberor car description to give to Police? Or have you rung the Police Station to make a complaint and ask them if they could patrol in oorder to catch these kids.
Have you got together with your neighbours and approached your local member?
Lots of options, just a matter of picking one that suits your circumstane.
Cheers from another Canberran
Jenny1
I once married a man that was v careful with his money, infact all my wages went into his account and I was given an allowance of $50 per fortnight, as he believed I was not good with finance. He did not share my vision/passion for investing and believed in not doing anything in regards to investing other than paying off his mortgage.
I was made redundant and monies received were paid on his mortgage, we decided to part ways (many other differences).
Since then I purchased my first IP made money on it, bought a further 3 properties (on my own) then met a gr8 fellow (and married him) who had spent his life with family sponging off him until he had nothing.
We had talked endlessly about future plans to invest before we got married so I was sure that we both had similar vision.
We discuss ventures but it is me that does the ground work, manages and saves the money. He supplies the muscle and endless energy for renovations.
I believe there is always one person in a relationship that is better with money than the
other but as with Gastsby you need to share the same vision/drive to get to your goal in life.Jenny1
Thank you all for your replies.
I check the net reguarly to compare prices of rents being offered, mine is still mid line although I dropped the rent $20.
I will talk to other agents as I think this particular agency is too big to give my property attention. And then I will flick the Agency
I should of thought about the sign but being different state with alot going on makes things harder to manage.
Thank you Oshen for your kind words.
Jenny1
I totally agree with Dazzling
How can you say you can’t afford insurance when you are prepared to wear a loss of rent $6,400. Insurance would not cost anywhere as much as this (plus it is a tax deduction).
Being naive has cost you plenty. Set up reminders on a calender of when rents are due, internet/phone banking can be done from home.
Dazzling is right re PM’s you manage your Managers, ring/sms or email if your rent is late to find out when it will be in your account.
Interview PM’s as it is your business that you are entrusting to them, and PM’s will break you if you get a bad one.
Good luck
Jenny1
I guess in another year or 2 we could put the rent up and we’ll nearly nearly have a positive cash flow property even though it’s just a daggy little 2 bedder in the lovely sunny suburb of Sydney’s charming outer west – Penriff!!!
Nelsons,
If you look in the latest edition of API they have a feature called Sydney’s ‘Westies’ in the article it states 10% of Sydney’s population lives in the west. Also goes on to say vacancy rates have hit 4 yr low so this is all v positive for your property in Penriff!!
Whole article is worth a read…Hang in there [biggrin]
Cheers
Jenny1
I have loved investing for a long time now and I suppose I like this forum because we all have a common interest in property.
I have always chosen people that I would tell about my investments that understand what it is like to go without and to sacrifice in order to move ahead.
I found out in the early days that people wouldn’t understand what you were wanting to achieve and were always knocking you for the goals you wanted to set. Either that or you would get people saying “Gee your lucky”! If I hear that once more I will scream.[comp]
I come from the school of hard knocks meaning that I have not had anything given to me and I worked hard holding down 3 jobs at the one time to get ahead. I have never bought anything on interest free or had a credit card debt that was not paid out by the end of the month.
So I suppose I am not a squirrel looking to see how big your chesnuts are I purely enjoy reading the different paths that are taken to reach your own goals.
Jenny1
Oops just playing..and it worked!
Jenny1
Candy
I would not be managing the property myself I would be checking out other PM’s that will collect rent, maintenance and all the other run around things PM’s do to earn their commission.
This is all tax deductible why go through the drama of doing the run around all this is time consuming, when you could be doing other things in regards to looking for your next investment.
Good luck
Jenny1
Hi Dazzling
Well your finally eating lots of cake now! Fantastic news, as I know you have worked hard behind the scenes to get where you have got.
I love your sense of humour and often had a quiet chuckle at some of your remarks as it is said with tongue in cheek. I personally would like to have someone be direct with me rather than pussyfoot about.
Your advice both on and off the forum I have appreciated greatly, and I very much would love for you to hang around to deal out that wit/wisdom
for a long time to come.Sometime in the future I would like to know more about how you got into the commercial side of investing, so I can get into lots of cake too![cigar]
Once again don’t hang up your keyboard continue to be involved as others will learn from your experience.
Take care [biggrin]
Jenny1
This Forum is so lucky to have such a collection of creditable brokers who take the time to help/answer questions re finance etc.
I have had the pleasure of you either speaking/ emailing me with answers to various concerns and have always enjoyed the debate/knowledge that you guys pass on through the forum. Learning always as I go along.
I wanted to thank Robert Bou-Hamdan who took the time to email me privately and pass on a colleague
“Jason from Canberra” (who I met today over coffee). Robert’s contact gave me the time and courtesy of listening to my plight and then gave me different scenarios re my investing for now and the future, after speaking to him I found that I felt comfortable with his advice and I was convinced after our talk it was not all doom and gloom. [blush2]And as Rob said Jason is a great bloke!
Thank you [biggrin]
Jenny
Jenny
Jenny1
Foundation
At this stage of my life I am in a position where I have no outgoings I live, eat and have all utilities paid for by my employer. I own an old car, have some shares, and don’t have a credit card.
The rents collected from my properties pay a large portion of my mortgages I pay any other monies into reducing my debt.
I am wanting to hold onto these properties for a long period of time to appreciate sell one or two and this will reduce my debt.
Cheers
Jenny1
Thank you Robert
Are you talking about restructuring with another lender, if so I too live in the ACT are you able to recommend someone that is savy re structuring investment loans?
Cheers
Jenny1
Robert loan amounts as follows:
LOAN AMOUNT VALUED AT RENT
$220,000 $380,000 $350.00 pw
$311,000 $340,000 $320.00 pw
(purchased Aug 04)
$203,000 $205,000 $200.00 pw
(purchased April 04 no tenant as yet).Cheers
Jenny1
API stand for Australian Property Investor. This is available at any newsagent or do a Google search to find their web address and you can subscribe online.
A great mag with lots of info.
Hope this helps
Cheers
Jenny1
Hi jjwil105!
Thanks for your reply.
In reply to your question I have found that prices can vary. The first property(ACT)cost $550 the latest (also in ACT) $440 and the other 2 I asked and got quoted $650 (both in QLD).
These depreciations are all ATO complient.
Hope this helps, should think the depreciators are getting busy now drawing close to tax time.
[biggrin]
Cheers
Jenny1
Just do a search on reverse mortgage there is a bit more info written [biggrin]
Jenny1
Derek
Unfortunately I have other properties but in other states and with different agents!
Think I need to talk turkey to him re comm and see what he says.
Cheers
Jenny1
Thank you Richter
I found out the other day same PM offered to look after a property of friend of mine and was going to charge only 8%!
Certainly woth re negotiating.
Cheers
Jenny1
