Originally posted by jaydee:
sorry to confuse you.i am not sure which way to go with making investing work.we can afford ip but i feel we r putting to much into it and the reason why i said do we sell our own home is to get some money behind us to be able to positive gear and buy more ip.how does anyone afford to keep buying houses unless they…[Read more]

Originally posted by simple:
Some simple mathematics here, some one please correct me here as I cannot get my head around this!
IP in our area cost for example $300K has return of $300/w minus expenses land and running cost you get about 250/week if lucky. Which is about 4.5% return on capital.
If I put the same money on my bank account I get…[Read more]

They will need to leave a forwarding address with the agent for the statements etc. The agent is probably the best person to handle all of it – they can also be responsible for any rates, water, insurance etc that needs to be paid while they are away. It can all be deducted from the rent.
Make sure they get Landlord’s Insurance as well. A lot of…[Read more]

Hi again Mytch. I have all the time in the world to reply.
I’m here in L.A on a 2.5 year holiday while my wife pursues her career. It’s tough, but someone has to make a sacrifice!
Good to hear you have shaken off the typical consumerism we see today!! You should see L.A – it would make you cry. I know people who are earning over $100k per year who…[Read more]

I live near that area (not right now – I’m in L.A) and know it quite well.
Carrum Downs is in the ‘corridor’ between Frankston and Dandenong, and has exploded in size and value over the last 3-5 years. Buying there right now is a bit ‘missed the boat’ on capital growth I’m afraid.
Long term will be good, but I don’t think you will see a lot of…[Read more]

Sorry to hear your predicament Mytch.
Here are few things you can try:
1. Are you paying interest only on the I.P? If you are paying P&I talk to the bank about restructuring the payments to I.O. This will take some pressure off, plus you only need to be paying interest on your I.P, as it’s only the INTEREST that is tax deductible, and try to…[Read more]

I thought it had already boomed recently?
Anyway, the local council can give you records of past sales and the prices on a particular property/ies in the area.
Also, ask a few of the local r/e agents.

Cheers,
Marc.
erardent@hotmail.com

When you sell a property to get access to the equity you have built in it, you forego future capital growth on that property, as well as incurring selling costs and capital gains tax on the sale.
You can still access most of the equity in the property for the deposits on other properties, or even the renos on the existing property and you still…[Read more]

Tell that to the EMRON or WORLDCOM shareholders.
You can pick any ‘window’ in time, or any share or property deal and see a fantastic result, and vice versa.
For example, we bought a house in 1998 on the Mornington Peninsula and sold it 2 years later and we DOUBLED the price of the house. My input of dollars was zero. I used equity from a previous…[Read more]

Interesting. I didn’t know a billboard was property.
$2 to a house is not property investing; that’s trading – there just happens to be a house mixed up in the items.
Maybe we can get a few taxi licence holders to give us some input on those investments on this PROPERTY FORUM.
I heard Alpacas are o.k, or what about futures trading; or maybe…[Read more]

Simon is spot on.
The end result is you will sell (why sell at all?) and make a profit! It’s hard to go broke doing that.
Don’t be afraid to ask silly questions. The only silly question is a question not asked.

Cheers,
Marc.
erardent@hotmail.com

Congratulations! I hope you have a great investment experience.
If the contract of sale is unconditional there is not much you can do to force the tenant to sign a lease until after settlement.
Whether the tenant is on a periodical lease or a fixed term lease is irrelevant – they are still bound by the Tenancy Act. Depending on which State your…[Read more]

Hi meatgroup, welcome to the forum!
This may be an obvious question;
Have you factored into the equation any likely tax benefits from depreciation while researching your properties?
On your income, the tax benefits for investing in property can be substantial – especially in properties built after 1987. You can claim 2.5% per year depreciation on…[Read more]

I saw the website; quite good info.From what I’ve read you guys have learned quite a bit through some ‘tough experience’ already. I am interested to know how do you guys make money from your website?
I have a book soon to be published here in the U.S (not property related – it’s from my ‘real’ profession) and a guy I met suggested maybe a web-book…[Read more]

I think that if you put NO money into an investment and get a positive return from it, then that is an infinity return.
The less of your own money you can put in, the better the return figure will be.

Cheers,
Marc.
erardent@hotmail.com

I found this post on this site while doing a search on Powerloan: –

Originally posted by Red13:
I worked for powerloan a couple of years ago. They have a very very high turnover rate. There are alot of restrictions on what you can do, and they constantly bag brokers and banks. They are mortgage brokers, but only selling the branded products -…[Read more]

Also look at the Jan Somers website forum – somersoft.com.au

Cheers,
Marc.
erardent@hotmail.com

Hi Maraa,
welcome to the forum.
Closing costs will vary slightly from state to state, but as a guide, you should allow about 5-6% on top of the purchase price to cover everything. That should apply to pretty much any figure you choose.
If you factor this figure into your number crunching it makes it easier to work out the viability of a…[Read more]

I have one of mine listed on noagentproperty.com.au. Gets a quite a few hits.
Check it out.

Cheers,
Marc.
erardent@hotmail.com

I have found the same thing – I guess “you can lead a horse to water, but you can’t make it drink”.
I think it is the old 90-10 rule; in this case, only 10% take action and 90% don’t.
That’s why I love this forum – like minded peolple who share the same interests and are on the same wavelength.

Cheers,
Marc.
erardent@hotmail.com