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I am a little curious here guys. Any of you actually has 100+ rental property? How can you deal with all the tenants? Think about 100+ phone calls for repair and that sort of things, lol.
Wynyard wrote:A loan with approx 6% interest over 30 years is more like 50% interest at the end of the day. We are being ripped off by banks
not really, money is just like other comodity. If you want to use, you will have to pay for it. Interest is the cost to use money.
Wynyard wrote:Cost of living goes up, cost of running a business goes up = cost of product goes up
residential rent got little to do with the cost of production. Try to ask for a pay rise because your rent just increase? Wage does, but it won't be decided much by residential rent .
commercial rent increase the cost of production but most sellers won't be able to pass the full production cost increase to buyers, unless you are in monopoly position with no subtitute.
In fact the price of the bread today is cheaper, if you take inflation, wealth increase, pay rise into account. Same with other other essentials.Wynyard wrote:There was a time you could afford to pay off a house in a few years on a wage of $30,000. I think we need to get back to that pointthe price will be decided by competition. PP want to live in desired area such as close to beach, job, good hospital… Say there is 1 mil pp. Aea number 1 only has 10 000 lots. So to live in that area you need to outbid 990 000 other. So now due to population increase, we have like 2 mil. in that case you need to outbid 1 990 000. it will be a lot harder job and much higher price.
So If someone pay too much income on rent, then he lives in the wrong area,( sorry, no offence intended here). Move down a little, one can save up a lot.
Good on you for trying to educate young poor/creative people about saving for their future. However for me, all you need to teach them is "don't spend the money they don't have". I know a guy, who say he can't afford to buy a house. A last visit to his rented place, I saw a near $ 10 k telly, infact he has two, just another one is a little cheaper.
I think
Option 3: Dont pay anything toward your investment property(even interest). So your interst in your investment will go up therefore deductions.
Use rent from your IP to pay off your PPOR sooner, hoppefully knock it off in 2 – 3 years.
Any one has any thoughts or comment about my option." The rent it just too damn high"
Not really. In fact, it is cheaper to rent then to buy.
"Prices of other essentials have also risen, because the rent is too damn high"
Sorry, don't make any sense here. The price of bread increase because residential rent is high?
" Tax breaks for property investors have allowed the market to be ruined, and investors have done the deed "
There is a gap between owning your home and public housing. The goverment alone can not meet the all demand for public housing. The waiting list is over 10 years for some area, the quicker ( say very far away area) is still 2 – 3 year waiting. Tax breaks are designed to encourage investors to fill that gap by providing cheaper rent (refer to the first answer).
JT7 wrote:longdd wrote:Hi
any one had a look or had any thought about Fairfield (2165), NSW?Hi longdd….I pretty sure Residex was recommending Fairfield in one of its recent Best Rents reports which predicts areas and products that produce both good capital growth and rental yields. Fairfield is a bit of a transport hub so good amenities. I'm sure there are good and bad spots but I wouldn't let that put you off…most suburbs have both. 2 bed unit in a small pack with potential to add value close to transport sounds good IMHO.
Thank JT7
Hi
any one had a look or had any thought about Fairfield (2165), NSW?Hi all
I have an unit ,which is very old. built in 1971.
So is it worth to get a depreciation schedule ?
I bought it for 220K. How much likely I can claim for tax depreciation?
