heya Derek

I see where you’re coming from. But say one had 10 properties and one did revals every 6 months @ $350 a pop. That’s 7k extra per annum that one is adding to one’s mortgage. And whilst I know that’s tax deductible, my way is to pay the mortgages off, not keep adding additional expenses. The 7k will get you back 3k in your tax return,…[Read more]

Bashiba,

Whether you’re using cash as a deposit, of using equity from existing IP’s, it’s the same. Actually, if you save up a deposit, it’s better because you have to borrow less. But borrowing from existing equity is still borrowing, so it’s not really “putting no money down”. It’s just adding to your existing loan.

COCR should add in all…[Read more]

Chefman,

If all your ones in melbourne came up well in terms of valuations, do you need to rely on the se QLD ones? If you’re using the vals to buy more, then can you go on the good vals to work your LVR and borrow more?

Bank vals mean little anyway. If you decided to sell your properties, you can sell them on the price YOU value them at. As for…[Read more]

Paula,

A lot of people are still trying to sell at the tail end of the boom, so if you see “for sale” signs, it might just mean there is a lot of activity for the area- probably no big deal.

Check out Australian Property Investor magazine. It tells you the median price for houses/units for the location and how many properties have been sold…[Read more]

I think it was important that the GST exempted basic foodstuffs (not junk food). Recipients of benefits couldn’t have afforded an ongoing 10% increase on everything. The prices of food have probably gone up 10% since then anyway. Inflation (CPI) after the GST was 6%!

kay henry

Pisces, not sure where Mysta got these from, but in general, you can find every news article on the net written about the tax changes if you go to google.com and then to the “news” section and then type in “stamp duty NSW” or similar key words.

kay henry

I’ll just add another quick post here, so I don’t make the last one pathetically long.

Property investors have, over hte years, received a number of tax breaks and been the beneficiaries of a number of pro investor decisions. Did we *reduce* our rents based purely on those premises? Unlikely. If we see taxation changes as just part of the IP…[Read more]

Tim,

You asked about rents increasing. Well, that’s something only the market can determine. If you check out API’s latest mag, they have the top 5 rent area increaes in Qld and the 5 that had the greates rent *reductions*. I guess some people will increase rents and try to make up that money for some time ahead in the future when they intend to…[Read more]

Ted,

Thanks for clarifying what you meant My situation, just for your clarification, is no better than anyone else’s on here. But I see property as a fun thing, as a thing I enjoy, so I’m not counting how many IP’s people have. It’s not useful, helpful or fun to do that. [thumbsdownanim

I dunno how many people on here have an exit strategy.…[Read more]

Ted,

Don’t you think using a cliche like “herd mentality” is a bit… umm… herdish? hehe.

Exit strategy… now, lemme think about that. Well, keeping my job is a way of sustaining my serviceability, so that’s not a problem. I also have income protection insurance as part of my package, so that shouldn’t be an issue. I will never buy shares…[Read more]

Pelican,

Thanks for your post Ya know, I can really handle people taking shots at me. I think it’s really important to ask questions and stuff. I didn’t particularly take anything personally. I do like to focus on the issues though, and not just tell people to be quiet when they disagree.

Pelican, many times I might say things that others agree…[Read more]

“Media beat up”… well, it’s easy to use those words when we don;t like what we read. When we read that the location of our latest IP has had a CG of 30%, we don’t call it a media beat up…

I remember when Mortgage Brokers WERE independent. When they first became popular, they were paid equally by banks, so they just found the best deal for…[Read more]

Tim,

People will probably still want to sell off the “non-performing” IP’s in their portfolio. Flogging off heavily negatively geared IP’s at the peak of a boom is not necessarily a bad thing People may now, however, decide to keep those IP’s because of the new taxes. But many investors, including many on here, have sold IP’s so they can make…[Read more]

Thank you Jason! I will and you also! I can’t find a proper easter egg smiley :o( So I have to give you this one that fell down the toilet :o( I’m sorry, Jason.

[dunny]

kay henry

Corey,

I doubt that the interest in RE is over. It’s just changing. The sector was becoming very skewed, as first homebuyers became unable to enter it. Now there’ll be an extra demographic who is able to buy RE. That will create demand, but of course, investors will be reluctant to sell given the tax changes.

Booms can either end organically, as…[Read more]

krazy- how many times do I have to tell you? [hmm]

How about instead of calling people “amatures” (or amateurs..), you let the participants of the forum have their discussion?

Most of the posts you have made on the forum so far are mere advertisements. Can ya chill with the namecalling, please?

kay henry

Russ, that was a good answer you gave. but are you still able to find 24k properties in WA or elsewhere in australia now?

kay henry

krazystyler: [hmm]

kay henry

Sibo,

I am not sure the documentary om ABC last night was merely an infomercial. I think a number of people who watched it would have found it very funny and viewed it with an ironic eye.

kay henry

Jack, you’re right. I don’t have my own PPOR, but I might be able to afford it now

kay henry