[maximusMember@maximusJoin Date: 2003Post Count: 189]

July 17, 2003 - 12:52 am

Hi there rogue. Another thing you may want to consider is going to the seminars that R/E agents and investment companies run. These are usually free and you can bet your bottom dollar they will try and steer you the way of negative geared properties. I’m not for or against neg props. but the reason I suggest you try these seminars is to just find out some free info and get your creative juices flowing. Just my opinion, but DONT sign anything, just let them know you are gathering info, and will contact them if you are interested. As everyone else has said, read as much as you can and keep visiting this site.
Take care
Marty

[maximusMember@maximusJoin Date: 2003Post Count: 189]

July 15, 2003 - 11:44 pm

Hi ya Tankbusterboy (what a name).Just look at when you were first thinkimg of buying an investment property. I bet prices have gone up since then. There is always some risk associated with any investment but as long as you buy a property and look after it (maintenance), you should be on a winner. A recent forecast sees Brisbane property rising by 36% in the next couple of years. Even if that is a bit out, you should have good growth. It’s always a bit daunting when “you’re playing with real money”, just do your research and I’m sure things will pan out fine for you.
Regards
Marty

[maximusMember@maximusJoin Date: 2003Post Count: 189]

July 15, 2003 - 10:53 pm

Hi Joff. Fantastic to see you caring for your family. As other people have said, it is always a struggle when you first take on a mortgage. Always has been, always will be. Doesn’t seem fair that someone should have to move a bit further out from their family, but that is what most of us do. I bought my first house in Sydney in an area I said I never wanted to move to, and guess what, I’m still there. Yes, things improve with wage rises etc but it will always be hard to buy that first house. Once again, I commend you for “doing your sister’s worrying”
Regards
Marty

[maximusMember@maximusJoin Date: 2003Post Count: 189]

July 15, 2003 - 10:23 pm

Hey Youngie (and wild nothing). I’m slightly older than you guys (like, nearly double) and the information overload thing still affects me too, so dont worry. Thats probably a good thing as it shows you guys are researching, researching and more researching. I only started property investing 5-6 years ago and there is so much more info “out there” now in such a short time. It is good to see younger people thinking about their future. I personally like buy and hold as it suits me, so my advice to you would be to find a strategy you like and feel comfortable with. I think you can make mistakes along the way (which will cost you) but still come out in front of those who do nothing.
All the very best
Marty

[maximusMember@maximusJoin Date: 2003Post Count: 189]

July 9, 2003 - 12:19 am

Hi there Chandara. I attended a 3 day seminar that Spanny hosted a few years back. He’s very good at what he does but now that I also am a bit wiser, I wish I’d put the couple of grand I spent on a loan or towards another deposit. Nothing against Peter Spann, as I said he’s very good and motivational and at the time I probably needed the motivation to kick start me, but feel that there is so many “property experts” making money from these type of seminars. I’m sure you’ll have a good time. Let us know how you went and what your opinion was
regards
Marty

[maximusMember@maximusJoin Date: 2003Post Count: 189]

July 9, 2003 - 12:12 am

Hi ya Katsu. My understanding is that you should buy the property in the name of the highest wage earner when it is to be negatively geared (for tax purposes). You can still put tyour name on the loan if you wish as long as your partners name (only) appears on the actual purchase contract of the house. Pretty sure you will have to pay stamp duty on change of ownership ( I’m assuming you want to add your name to title deed somewhere down the line). As always, my best advice is to consult your accountant and/or a solicitor.
Hope this helps
Marty

[maximusMember@maximusJoin Date: 2003Post Count: 189]

July 8, 2003 - 10:52 pm

Brendan, how about this. Sell your mother and reduce some debt or put your mother in the unit. Just kidding. I too would try hard to hang on to both properties because if your hunch is right it sounds like both could great CG. As advised by others, definately shop around for your finance. All the best.
Marty

[maximusMember@maximusJoin Date: 2003Post Count: 189]

July 6, 2003 - 10:21 pm

Thanks Scott. I more than likely will hang to it in the hope that Broadbeach does have some good capital growth, which I’m sure it will. My only other concern was that there maybe too many high rise’s going up in Broadbeach (a fact I’m not sure on). Regardless, it is nice to hear (or read in this case)someone say what I was already thinking.
Regards
Marty

[maximusMember@maximusJoin Date: 2003Post Count: 189]

July 4, 2003 - 5:49 am

I think I’m more confused now than before I asked the question, lol. To clarify, I live in Sydney and the I/P is in Brisbane, it has been rented out from day one (I have never lived in it), but if I moved into it at a later date and did not sell, I should NOT be up for C.G.T. Is that correct?
Thanx

[maximusMember@maximusJoin Date: 2003Post Count: 189]

July 3, 2003 - 1:21 am

Thank you Terry for your swift reply, you seem to be somewhat of a guru (along with others) on this forum and your advice/input is greatly appreciated by myself and I’m sure others. I didn’t think I would be up for the dreaded C.G.T. (unless I sold) but just wanted to check.
Thanx again
Marty

[maximusMember@maximusJoin Date: 2003Post Count: 189]

July 2, 2003 - 7:24 am

Be very careful about signing anything. I have heard of people buying under the circumstances you described and finding out much later that what they bought was grossly overpriced and it took years for the property to reach what they paid.[!] Try and do your own research, or at least ring some local real estate agents in the area where you are to be shown and ask them prices etc. TREAD VERY CAREFULLY.
Best of luck
Marty

[maximusMember@maximusJoin Date: 2003Post Count: 189]

July 2, 2003 - 7:14 am

Thanx for your advice guys. I probably should have clarified that what I’m trying to do is eliminate debt. I’m not too worried about losing the tax benefits. The point I was trying to make was that I could reduce monthly repayments by paying extra off my I/O loan (if I choose to) but wasn’t compelled. It is only MY belief, but I think that interest rates will eventually rise and I want to have a “safety net”.
Thanx again
Marty

[maximusMember@maximusJoin Date: 2003Post Count: 189]

July 1, 2003 - 9:16 am

Ditto. I would definately pay off the PPOR first.Just be careful of possible fees converting from P&I to I/O on your investment loans. I had a question re P&I and I/O myself but my situation is different to yours.
Regards
Marty[]

[maximusMember@maximusJoin Date: 2003Post Count: 189]

June 28, 2003 - 9:08 pm

Hi there Gavalynn. I too agree with the replies here. There are expensive seminars out there and there are some free seminars too but you will have to buy sooner or later (if you choose to) with or without a seminar. I have attended different seminars over the years, to get a few different ideas (some free, some paid for) but still did my own thing. Yes, I admit, if I could go back I may have done things a bit different but that is how you learn. Things like dealing with banks etc. Just decide what you want to do (i.e if property investment is for you), learn everything you can by research, take a deep breath and GO FOR IT.
Good luck
Marty

[maximusMember@maximusJoin Date: 2003Post Count: 189]

June 23, 2003 - 12:37 am

Must be my turn. First of all, GREAT IDEA Leigh.Have only recently discovered this site, (it is fantastic). Where do you start? My name is Marty, I’m 39, very happily married (to Karen) and have a 16 year old son (Jake) who is my life. We live in Sydney, but hope to move to Qld somewhere down the track. My life was turned around and upside down approx 7 years ago when I was involved in a motorbike accident and suffered back, neck and shoulder problems which have prevented me from working since then, although I still live in hope of returning to some form of work some day (any offers???). Not long after my acciddent my daughter passed away due to a terminal condition she had. So as you can imagine, life was fairly miserable for sometime afterwards. We managed to keep going (had no choice) as I firmly believe in “kick or be kicked”. It was somewhere around this time that I started getting interested in “some sort of property investment” idea that would help provide for us later on in years. We owned our PPOR so there was equity there, so we went and bought our first IP (negatively geared). It’s now been 5 years since we bought our first and we have added another 6 IP’s to our portfolio, some are negatively geared and some are “neutral” or on the verge of positve. Because I have the time, I do most of the research and phoning around etc involved with our IP’s. We basically believe in buy and hold, although in the future we’d like to sell our PPOR, reduce some debt and possibly even move into one of the IP’s in Qld. Sure, I’ve probably made mistakes with finance structures and cross-collateralising etc along the way which has cost me, but you learn real quick when you have to pay.We still hope to buy more IP’s but they are getting “harder to get” so to speak, but who knows. I’ll be happy when I can get us into a position where we have $1000 coming in from passive income (hopefully in about 5-6 yrs). Anyway guys, thats about it from me for now, so till next time, take care. Sorry, before I go, just wanted to say thanks to everyone who contributes to this forum, because I believe that every bit of info that gets out there helps someone.
Cheers
Marty

[maximusMember@maximusJoin Date: 2003Post Count: 189]

June 12, 2003 - 6:34 am

Hi again guys. Re Cootamundra, I have spoken to a couple of Real Estate agents in the area and have been told that a decent property will cost $100–120000 to buy and should rent out for $140-160 a week. By these figures it means I would have to put in approx $$50000 as a deposit to make it +ve (thats also allowing for rates etc). What are your thoughts on this. I’m struggling to find cash flow positive properties []

[maximusMember@maximusJoin Date: 2003Post Count: 189]

June 3, 2003 - 10:24 pm

Thanx to everyone for their advice. Definately gives me food for thought. I was thinking of maybe 2 deposits, but you guys have made sense in suggesting going for more. Only problem now is to find the area/s to invest in that will produce a positive cashflow. Any more suggestions?????
Thanx again
P.S. This site rocks. It is so good to be able to discuss these types of issues that we all confront at one time or another.

[maximusMember@maximusJoin Date: 2003Post Count: 189]

June 3, 2003 - 7:07 am

To TerryW. 4 or 5 sounds great. Just what I’m looking for, but where on earth do I find these type of properties that would be cashflow positive with such small deposit/s. Have searched the net for these type of properties, but very hard (if not impossible) to find.Maybe I’m looking in the wrong places. Once again, any input is greatly appreciated

[maximusMember@maximusJoin Date: 2003Post Count: 189]

June 2, 2003 - 11:44 pm

Thanx AD. What I’m trying to achieve is to eventually live off the rents of investment properties (aren’t we all). We (my wife and myself) have a few IP’s already, some neative and some positive (with tax deductions etc). So what I’m trying to do is find positive cashflow property/ies (hopefully with growth). I prefer houses but am also open to the thought of units, we currently have unit on Gold Coast in high rise complex which we were thinking of selling (this is where the deposit is coming from). Hope this helps you to help me. I’m sure that last statement was a similar phrase out of a Tom Cruise movie
Thanx again

[maximusMember@maximusJoin Date: 2003Post Count: 189]

June 2, 2003 - 11:16 pm

Sorry about that, I should have clarified. The 80-100,000 would be deposit.
Cheers