God, pocketscience- can’t you extend the settlement period until the new rules apply? What will it cost you? I am sure it will make the new vendor happy and it won’t bother you too much at all.

kay henry

Depends on wehich properties one is buying into (re the original question). think Lorne, Vic; think Berry, NSW; or Bowral, NSW. They all have a population of a few hundred, but you would have NO problem getting a loan for them (might find it hard to get entry in those places though- they’re exxy).

I just bought into a place with a few hundred…[Read more]

Well, I am sure Steve didn’t say “don’t do any research on the town”, Russ! Thinking outside the square doesn’t mean not checking for floodzones, industry, employment, crime, population decrease/growth, capital gain or loss in the last few years in the town. Due diligence is essential. I am sure you would have wanted those people who you spotted…[Read more]

Thanks for that Derek! [rolleyesanim] [tongue]

kay henry

What is DCF Analysis?

kay henry

elves :o))

There is a recent book about siblings and favouritism by parents. Most parents say they don’t favour children one over the other, and that they treat them all the same. But when they ask the children, the children generally have a very different idea- and see that some children are clearly favoured over the other. The book is about how…[Read more]

I’ll be retiring at 65- go figure- I enjoy my work. It also has benefits… superannuation, long service leave etc etc. Someone asked me today if I would retire if my income from IP’s equalled my wages… and I said “well, if I have wages PLUS that again from IP’s, then I have double! Not sure I understand everyone wanting to retire so…[Read more]

Russ,

I’ve just answered my own questions by going back to your original post about the property (“What do you think of my garden?”)

So the place is 163k and will rent for $150. That’s about a 4% return. I also saw that you’ve had it listed with both agents in the town. Is the other one still working for you?

Why don’t you advertise it on the…[Read more]

Russ,

Is there another RE in town? Perhaps oyu can let this contract expire and wait until you can find another RE. Then ask them their *strategy* for selling your house, so that they have to develop a plan. Most decent RE’s should have a list of buyers. Ask a new RE if they do.

It’s likely you’ll have to pay for the advertising to hte first RE…[Read more]

A semi-detached house is a free-standing house, to my knowledge. The house is just joined to another, but it’s torrens title, I think. Certainly, in sydney, that’s the case.

I think they have different names for them in different states.

Hence, there would be not much difference in appreciation value- except that you have smaller land mass.

kay henry

Acey said:

“Who cares about the tax – you earn more, you pay more tax.

“The idea is to build wealth, not create tax deductions!”

Acey- it depends on how much you earn. Some of us want that big tax check back at the end of the year. For me, it’s very important to have deductions.

kay henry

If it’s for sale on realestate.com.au it will get sold, Russ. I send half my life on there, and so do many people. If you live in a small town, the locals may not be able to buyt the place, so it’s other people who may. In 2004, ya godda have it for sale on the net.

kay henry

Netbuttons,

Personally, I see that the ONLY was in investing in property for the future as having a well paid, full-time job. Why do we need so many hours in the day to find properties? We actually need the *wages* to support them.

You have a 30% higher job opportunity at your doorstep. What’s not to love about that? It will mean that your…[Read more]

Dave,

Remember, it’s only when you *sign* the contract that the cooling off period applies, and you can probably get formal approval before then anyway. My bank gives me approval on the same day, but informal approval before that so I can make an offer. It’s a numbers game and you can pretty much work out how much you can borrow anyhoo before you…[Read more]

Well, Bec’s gone now, and for those of us who cringe at this kind of public humiliation (creating a new topic was unnecessary Steve), then perhaps we can let Bec’s memory rest in peace. There will always be differing opinions about forum posters, and I know you probably all would have a clue as to my opinion about Be getting “sacked”.

Vaile…[Read more]

If debt collectors are after you, I’m not sure why you’re confused. It’s obvious you need to pay off the debts (possible the creditors need the money???) Then you can start thinking of your own financial future.

kay henry

I think one thing people don’t discuss with pozz gearing is that one still has to pay tax on the profit made weekly. So if one earns $10 net a week, and is in thehighest tax bracket, $4.80 0f that will be taxed. So one is making $5.20 a week.

Investron, I am not sure people are “poo-pooing” neg gearing… I think poss gearing has been a way for…[Read more]

If one signs a contract with an agent, of *course* one is going to have to pay the fees- even if one’s best friend says she or he will buy the house from us the next day. It’s a contract- it’s binding. Perhaps the best thing to do is, when one wishes to sell, to not do anything for a few weeks and perhaps some offers may come through- via osmosis-…[Read more]

Pisces said:

“Bec, from my experience in the psychiatric field
there has got to be a void, a problem, in your life.”

Pisces, what experience do you have in the psychiatric field? I thought you had been a property developer and now you tell us you were also a psychiatrist? Wow, you have some resume there, Pisces!

kay henry

stowy, you asked:

“If interest rates rise, is there a corresponding increase in rent, or can a positively geared investment turn negative?”

The same could be asked “if interest rates reduce, do we lower the rentals on our IP’s”.

Rent is not linked to IR rise and falls. We make our own choices on these things. I have never seen anyone…[Read more]