[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 28, 2003 - 7:21 am

Simon AKA mortgagehunter

weekly rent x 52 divided by purchase price x 100.

ie $200 x 52 divided by $180 000 x 100 = 5.77%.

So this can be used to work out the yield on current IP’s ?

i.e

$145 (weekly rent) X 52 = $7540

divided by $80 000 (amount owing on loan- not value)0.09425

X 100 = 9.425% Yield

Is this correct also ..??

REDWING

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 28, 2003 - 7:11 am

I would’ve said ‘no’..

But, hey, Steve’s an accountant []

I’d be interested to know.. keep us posted!!

REDWING

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 28, 2003 - 7:09 am

WA and ‘other’ state’s taxes on buying a property are now ‘higher’ than the $7000k Federal Government grant for First Home Owners..

REDWING

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 28, 2003 - 7:01 am

mrsspud5

A friend of mine has a property in Bassendean,WA.It’s a big long block which has 3 home on it,my friend,her mum and one at the rear which they both own.The mum wants to sell her share,so it’s up for $220,000.My friend dosen’t want to sell for at least 3-4yrs.I was thinking if I used $55,000 equity from my home and have a 1/4 share in the property

Finding it hard to follow this..?

Is it..

1 block ( with the three properties and seperate titles?)

You are looking at purchasing the mothers half share in the 3rd house ?
for 220K ?
Or buy the Mum’s house(house1) and her share in the 3rd house(house3) ?

Where do you get the 1/4 share ??

I’d say get in touch with Simon- mortgagehunter and give him all the figures and details, the selling later issue also needs to be addressed, you may not want to sell later but your friends may, think of any financial issues then also.

Going into property with friends can sometimes become an issue, you definetly want to get mortgage and legal advice for this deal if you’re considering it.

Ellenbrook has a lot going for it in the future also.so i’d expect reasonable capital growth there.

Every now and again i suffer from Hayfever from the Pine tree flowers, and i sympathize with you, didn’t realise you could get ‘desensetized’ either ! check it out..

REDWING

“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 28, 2003 - 6:42 am

Hi Spider..

What’s your position after the initial 12 months is up ?

If you eventually look to retire in Sydney, then why ‘not’ use the time available ( Aug 04) to find something that you like, if the property markets in Sydney are experiencing a downturn/correction as we read, then you must be in a better position to negotiate a purchase.

As S.I.S says why not do both.. purchase your CGT free PPOR and utilise the equity in your rentals and ‘hopefully’ your PPOR to fund + Geared deals, as you say, you will retire here… if so, then think about the why’s, where’s and when’s regarding your eventual retirement..’plan now’.

My view only.. of course[]

REDWING

“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 28, 2003 - 3:19 am

Comsol,

just logged on, but if you check the posts over last 2 weeks davidfemia mentioned a perth accountant he has used, and someone else mentioned Margaret lomas’s company edestiny in willeton i think.. you’d have to do a search through the “trust” posts

Cheers

All the best for 2004

REDWING

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 23, 2003 - 10:36 pm

itsamoorey

I’m using 100k fixed and at the moment approx 60k variable on PPOR.

However Fixed the interest back in April on IP’s and paying IO for 5 years, as Simon aka Mortgagehunter say’s the interest is 100% tax deductible, the repayments are less ( freeing up my cash- handy as more can go on the non–deductible PPOR) the tenant, myself and the taxman pay for the property.

We thought rates would rise and our best option was to fix the rate, as an investor IO was also the better deal for our situation.We didn’t want to reduce the Principle ( no deductions)at this stage.

Also say for eg.. i have 100k ( and 100k equity)fixed for 5 years at IO, hopefully at the end of the 5 years the property has appreciated in value over this time frame.

Whatever you do depends on your personal financial situation and strategy.. keep on posting as there’s a wealth of knowledge available from people such as Simon on this site

MERRY CHRISTMAS TO YOU ALL
BACK AFTER XMAS

REDWING

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 23, 2003 - 4:59 pm

Still_in_school

That old girl “rocks” !!

And sad to say.. “i’m insane”.. actually, “i’m a schitzophrenic and so am I”

P.S- Where’s that town
[]

REDWING

“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 23, 2003 - 4:53 pm

Showmethemoney

“pearling boats”.. worked as a pearl diver, from Broome and the 80 mile beach up through to Darwin and out..

Re-fits on the boat in Fremantle (WA), so whilst steaming around the place, had time to read, “Noels” books being my introduction to investing, compound interest, and in his “To Read list” that gem “The Richest Man in Babylon”

My father worked as an Engineer on the Pearling boats up to Papua New Guinea in the old days and his Father as a “mechanic” on the old luggers.

Now in Perth, working above the water ( much drier)

REDWING

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 23, 2003 - 4:39 pm

Ausprop

Are they upfront about this ?
And the cost’s associated with the ‘club’ ?

REDWING

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 23, 2003 - 4:24 pm

Bruce,

Sad to say but Bills no longer on the forum

You can chase his e-mail address down through old posts if you wish however..

REDWING

“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 22, 2003 - 10:09 pm

Thought all along that’s what you were getting at..[}]

I’ve met people who have done it.. but
Remember “Fraud” is a Federal Offence []
So take care..

REDWING

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 22, 2003 - 9:53 pm

Marzipan

Sorry, but 4got !!

8 properties “Congratulations”, do you needto attend an investors club []

As for accountants on this site “the more the merrier” i say

All the best

REDWING

“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 22, 2003 - 8:18 pm

That’s the thing isn’t it..

I read a story about how Henry Kaye put a private detective agency on to him – followed him for months and dug back 30 years into his past – right back to his school days. They didn’t find a thing to pin on him.

How many of us would come up clean if someone dug into our past or followed us around for a few months.

” I plead the fifth your honor” [}]

Once you’re in the public spotlight you’re ‘fair game’ for all, the media, your opposition and your industry..

Jenman’s put himself in a tough spot, especially being so critical of the industries ‘dodgy’ practices.. good on him..

we’re a ‘more educated’ public Hmmm hang on , how about “henry”, oh well as Noel Whittaker put it, “if it looks to good to be true..”

MERRY CHRISTMAS & A DUE DILLIGENCE NEW YEAR

REDWING

“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 22, 2003 - 7:59 pm

I Believe “john Roberts” of Multiplex is developing his site near the vines, approx 450 house sites.

Another developer not too far away is also planning [] And Ellenbrook is still forging ahead.. supposedly ‘Myers’ still on the horizon to be located there, along with new North West highway, train line etc.. all on the plan

Ray White i also believe have some ‘large’ plans for a site that they have North of Joondalup.

It’s always interesting to see what the ‘big’ money is doing.[8D]

MERRY CHRISTMAS AND A POSITIVE NEW YEAR

REDWING

“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 22, 2003 - 7:12 pm

“SMTM”

I read Noels books “Making Money Made Simple” and “More Money” many many years back when i was working on the boats up North (WA) helped me get into an investors frame of mind, over time i bought updated versions and even gave his “Retirement” book to my Father and Father in law when they notified me of thier intentions to retire.

Found Noels books ‘easy to read’ and very commonsense, his approach to managed funds and dollar cost averaging probally works well in the long run, but i’m still upset about my “super” ( funny name for something thats not) fund losing money, i too prefer to loose it myself then there’s only me to blame..

As someone in this forum pointed out Noel was well before R.Kiyosaki and even helped instigate the Fortnightly/weekly repayements with banks, from the Bad old days of monthly payments ( you get 4 more payments in for a weekly cycle )
Three cheers for Noel[^]

MERRY X-MAS

REDWING

“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 22, 2003 - 6:58 pm

Good to see “Steve” popping up on the site again : )

TerryW

The six year rule is that you can move out of your PPOR and rent it out and if you sell within 6 years of last living in it, and if you have no other PPOR, then it will be CGT free.

This may sound ‘silly’ but if you move out and you have no other PPOR ‘where’ are you living [?]

MERRY CHRISTMAS & A ‘GREAT’ NEW YEAR

REDWING

“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 22, 2003 - 6:49 pm

Alwayslearning

DEPRECIATION SCHEDULE ‘ALWAYS’ WORTH DOING, see some of my other posts..

Ausprop

Extensive list of new Perth property available for sale.

Alternatively, become a joint venture partner in one of our property development partnerships – contact me to find out why our developments are unique.
John – please send me an e-mail re details at of above at
barrytspencer “at” yahoo.com.au
I’m always interested at looking at other deals

Cheers

REDWING

“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 22, 2003 - 6:37 pm

David

Also have not ‘heard’ much from Tracey..

e-mailed her a while back at
tracey “at” mastersgroup.biz but have not recieved much info’

Marzipan

Try http://www.theinvestorsclub.com.au they regularly hold meetings in Perth and Freo and provide listings of such:

Maybe a few of us could attend..

Investment Workshops, Property.Prosper.RetireMonday 12 January 2004 7:15PM
Introductory Workshop

Venue: Kinglsey Football Club
Address: Kingsley Drive, KINGSLEY,
6026

Contact Person 1: Colin Seal
Mobile: 0421 213 007
Email: [email protected]

“and”

Investment Workshops, Investment Workshop
Monday 19 January 2004 7:30PM

Venue: Westrail Centre
Address: Summers St, East Perth,

Directions: 2nd Floor Theatrette

Contact Person 1: Richard Van Proctor
Work Phone: (08) 9375 1675
Email: [email protected]

“or”

Investment Workshops, Investment Workshop

Wednesday 28 January 2004 7:30PM
Venue: Laguna Veneto Bocce Club
Address: 49 Homer St, Dianella,

Contact Person 1: Richard Van Proctor
Work Phone: (08) 9375 1675
Email: [email protected]

Hope this helps, i’m looking at attending a meeting in the “new year” myself out of interest sake and hopefully to ‘learn’ some more, other than that check some of the posts by WA investors and re: WA properties on this forum

MERRY CHRISTMAS
AND A HAPPY NEW YEAR

REDWING

[redwingParticipant@redwingJoin Date: 2003Post Count: 2,733]

December 22, 2003 - 6:15 pm

SHOWMETHEMONEY $ AND RYANMEL

How do you find this system ?

Preferable to waiting untill the end of the financial year and recieving it as a ‘lump sum’ ?

With the LOC mortgage i have on my PPOR it may be more benificial to recieve the extra ca$h in my paycheck each fortnight, saving me $ over the course of the year by having more ca$h in the account, reducing interest each day.

REDWING

“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”