Hi Kaloni,

yes we do too. What’s the point of earning a substantial amount of passive income, if you can’t reward yourself for your efforts. We have travelled overseas, and plan to do so again soon (at least once a year, although we haven’t this year…been busy house-hunting). My favourite place in the world is Rarotonga (Cook Islands); we…[Read more]

Hi Diclem,

According to my calculations (that’s if I have done it right, correct me if I am wrong anyone) the rental return on this investment is 9.3% and if you up the rent by another $20 p/w it should make it a nice 9.7% (not quite the 10% most +CF people are chasing) but good in my books.

Before you buy, if that is what you decide:

a.…[Read more]

Originally posted by PurpleKiss:
a) Whether your first porperty was a PPOR or an IP

PPOR

b) What made you think about buying a first property

I’d moved out of home, was paying rent, and wanted to pay my own mortgage off instead of someone else’s

c)When you found the one you bought, why do that one suit?

It was close to my parents place, it…[Read more]

Pisces,

I couldn’t agree more with you…..I stand (somewhat) corrected!!!! Ofcourse my suggestion was flawed in that there would be 2 x stamp duty if Marc were to use the WRAP system to buy the house and his daughter becomes the WRAPEE.

HOWEVER…..(now this is where my ignorance of this matter really shows) who says that he has to make her…[Read more]

Marc1,

the second part of my suggestion, aside from the rent one, was the WRAP process that so many in here refer to (which, as I stated, I know next to nothing about). Fundamentally, I guess you buy the property and sell it to your daughter. At the end of the day, she is paying off her own home, but instead of to a bank, she is paying it off…[Read more]

Pisces,

The areas you have mentioned are growing in population due to land availability. That is, these areas, are some of the only few remaining, that you can actually buy land on which to build. They are not the only ones ofcourse, however as they are a bit further out from CBD, they are cheaper than your inner suburbian regions, hence more…[Read more]

Hi Marc1,

I am particularly fond of a saying my aunt used remind us of whenever we (my sister and I) would whinge about our children, that goes something like “just as the fingers on your hand are all different (in length), so to are your children”.

I would imagine your (struggling) daughter (and her family) have not managed to buy their own…[Read more]

Hi misimb2,

The only ones I know of (and I am in Vic) apart from the one’s Westan has (correctly) outlined, include Ouyen = 45K for 90 p/w rent, Wyncheproof = 33K for 70 p/w rent.

It is not so easy in Victoria to find cheap +CF properties, but I daresay, it is not impossible. I don’t buy them, but that doesn’t mean they aren’t good value, so…[Read more]

Hi watchful,

I was in the same boat as you (see. BUYING THE HOUSE NEXT DOOR). My neighbour approached me, and then signed up with an agent only hours after telling me!!!!

As mentioned, if he has given agent exclusive rights, it may be tricky, and he will have to wait till that contract lapses. If he hasn’t, he can still sell it to you without…[Read more]

Originally posted by geo:
Hey Monopoly – I have a [idea][idea][idea]…get your children to take you to the Blackburn Hotel this Sunday…hehehhe[biggrin][biggrin]….and just say ‘excuse me kids, I’ll be back in a minute – Nature calls’ then run off to our…[Read more]

Pisces,

Just quickly, it is a medium density zoned area, confirmed this with council when I rang them to ask about possibility of building units (i.e. dual occupancies).

I appreciate your view on the matter, however, as I mentioned, I am giving the whole thing a miss; at present I see better opportunities in diversifying areas of investment,…[Read more]

Originally posted by Aceyducey:
Originally posted by Monopoly:

Quote:
I agree with diclem, I wouldn’t sell if I were you not until you have owned them at least a year (and one day) even though the CG hasn’t been such that it would not be too costly in the way of a CGT bill.

Heck – there’s no real CG at all!

Taking out selling costs he’s be…[Read more]

Up the rent!!!

I know it’s hard, I have been in the same boat, I hate doing it, but at the end of the day, I am running a business, not a half-way house. That rent is my livelihood.

Mean b….aren’t I??????? [angry2][angry2]

Jo

To answer you questions:

No
Yes
No

I am not sure about the law in your state, but here in Victoria, settlements are 30 days minimum. Even if you go ahead and organise the pest and building (and whatever else) inspections, most conveyancers or solicitors will require a minimum of 30 days settlement, just so they can do their paperwork!!!

Good…[Read more]

Originally posted by drew22:
I have four properties in an city that is stable but as I said growth has not been great at 0.54% from 00 – 03

That is terrible growth, especially in 3 years!!! You must have paid well over TOP dollar for them, and well in excess of their true worth, to have seen such small growth.

I have owned two for 9 months and…[Read more]

Pisces,

There is the possibility of building ONE additional property at the rear of (either) his or my house, however if both properties are pulled down, following subdivision, council will most likely allow the construction of units.

I am not quite sure what you are asking me, thus the reason for not answering adequately.

What makes me think…[Read more]

I live in South Morang, 20km north of CBD (Melbourne).

Cheers,

Jo

Hi Pisces,

To answer your question, the land size is the same as the one I own (approx. 750spm) which effectively would give me a very nice 1500sqm, if I wanted to build say 4 or 5 units. But as I said his house is in too good a condition to drop, mine not so, but still a costly exercise. I can better spend my money elsewhere.

BTW I have just…[Read more]

Hi Kay,

You are entitled to your beliefs, and dislike of the word “loser”.

I still stand firm, that positive thought is always a better message to convey, regardless of how mature the reader is…better to assume he/she may take it badly, and just post a more positive heading.

At the end of the day, I don’t really care….but if he wants to…[Read more]

Originally posted by kay henry:
That’s a bit harsh Jo.

Is it??????

If you were a new player in the property investment scene, and decided to take a look at this forum, the heading crash > crash > crash is really going to instill positive feelings in someone who perhaps feels that those in here are negative about the market at the moment.…[Read more]