[sunshineMember@sunshineJoin Date: 2003Post Count: 63]

November 7, 2003 - 10:45 pm

Hi. I was surprised by Hueys reply. 15 years is waaaay too long.
The numbers of infertile couples has increased markedly in the last decade (this is my field of work) and one of the reasons for this is that we are having our kids way after the peak fertility time for women – which is early twenties.
It is possible to do both with having the right attitude (excellent reply peterp) and allowing time for each. I would much rather be home all day with a headache over all my investment properties than coming through the door at 6pm tired and then having to have time with the kids. You can do anything with kids. I took my 7 year old backpacking through europe , everyone thought I was mad but I wanted to see europe before I got too old and of course would never have left my child behind and it was the highlight of my life. Now ten, my daughter comes with me on property inspections, talks about the ‘value’ of a property and can weild a hammer and screwdriver pretty well. She is all excited about a renovation coming up (of course safety is paramount) but I can see that all this is making her into an extremely adaptable and buisiness oriented young thing. So my advice is don’t put anything on hold, go with it, go with the flow and enjoy the ride.
cheers.

[sunshineMember@sunshineJoin Date: 2003Post Count: 63]

November 7, 2003 - 8:07 am

Hi Snowgum
Wouldnt you be wary getting into something with no experience in a town that was ‘supposed to boom’? I would be questioning to who’s advantage is this vision. Good way to push sales up, any hidden agenda’s. Who really owns the land.

Also, make sure the town has something else to offer and does not hinge solely on the (one?) mining company. If so, do your stuff and look at the long term plans. If this were true for this town there would be a need for other services that may not be there eg laundromat, shops etc etc – find out what the town planning vision is, what the future is for this town. What the demograhics are, Ive worked in mining towns and just about everyone I knew rented, was of a younger age and quite transient. Just a few things you may not have considered.
Cheers. Sunshine

[sunshineMember@sunshineJoin Date: 2003Post Count: 63]

November 6, 2003 - 2:41 am

Hi. Have only just read your post but have been trying to find out about getting loans for NZ for a while now. My accountant tells me that I would pay tax in NZ and have the tax credited to my taxes here. That buying property is not a problem if I have an NZ passport. I have got a long expired one somewhere so will try to resurrect that, but am stuck at getting a loan. Would appreciate any tips you all have.
Cheers sunshine

[sunshineMember@sunshineJoin Date: 2003Post Count: 63]

November 4, 2003 - 9:59 pm

Too true Bill. And here I sit on this early Gold Coast morning, the weather sure is beautiful…but…currently it is almost impossible to find a house under $300,000, with possibly Nerang being the only suburb at 220 – 300,000 for end market homes. They have been building apartments at an alarming rate here, especially along the broadwater from Surfers through to Runaway Bay. Friends and I are all waiting for the over-supply of apartments which we can see coming.
Also, just two months ago the rental pages in the paper were only a page or two and now they are up to ten pages. I am seeing ‘for rent’ signs along streets and on lamp posts where I havnt seen this for a long long time.

Schoolies is just around the corner and surfers is currently having a lot of bad press about how unsafe it is – though during the day it is just fine. The GC has also become the biggest hoon capital in Australia. But on saying that I love living here and never go into Surfers anyway…why would you!

I agree, put your money in a short term deposit, have a look at the Gold Coast bulletin saturday paper for the rental situation and do some good research. Watch out for sharks!
cheers.

[sunshineMember@sunshineJoin Date: 2003Post Count: 63]

October 29, 2003 - 10:17 pm

As a newbie I would just like to say that some ‘oldtimers’ posts read as moody and menopausal, some are informative and some are gold mines of information. The mix is all part of the package and you take what you want from each.

There have been a couple of requests for a newbie column and I can see the merit tho obviously the only people who would read it would be newbies.

But ethics and integrity matter and hey, what about plain old fashioned being nice[] Afterall, you were a newbie once. Have some patience and create good karma.

Sunshine

[sunshineMember@sunshineJoin Date: 2003Post Count: 63]

October 29, 2003 - 10:04 pm

Hi[] Good idea. I would like to see a column for newbies – with a bit of a key for the phrases as well. LOL, IPPO etc etc

…with maybe a quick word about ethics and integrity!

cheers.

[sunshineMember@sunshineJoin Date: 2003Post Count: 63]

October 29, 2003 - 9:57 pm

Hi. having read the example I think I assume that the couple have bought this place as their principle place of residence so therefore no capital gains tax, no stamp duty so the profit would be as stated.

However you have an excellent point as more often than not, all those lovely good looking couples on the tele who make wonderful ‘profits’ fail to mention tax, interest, time and Labour, closing costs etc etc. All those little trips to Bunnings all add up and unless you are putting ALL your receipts through your accounts it is easy to blur the true picture of what the reno has cost.

Good luck to you, Brisbane is still good, around Morningside and bay areas, still rising. Sunshine coast is still good, not much on the Gold caost though.

Cheers, sunshine

[sunshineMember@sunshineJoin Date: 2003Post Count: 63]

October 24, 2003 - 3:59 am

Thanks muppet, I did check it out – good site and helpful as a starting off point for research. Am now familier with associated persons and assessments etc which would seem to apply in this case.

Just need to see if I am up taking the leap off the fence. Worst case scenario would be that I would have to move there and live in a caravan!Still researching. Thankyou[]

[sunshineMember@sunshineJoin Date: 2003Post Count: 63]

October 21, 2003 - 9:06 pm

Hi Nat 21
I had my rural property valued by the bank for refinancing. Sat in their office and the loan officer told me she had the valuation. I expected 20% less than my own market research of the area knowing banks are on the conservative side. But this was 40% below. She then had to leave the room and turned all my paperwork face down, on her leaving the room I flipped it over for a look and the valuation was stated at 20% more than she had said, being 20% under my own research!!!

Needless to say I will never use this bank again and although more costly to us to refinance did so, due to their total conservatism.

Which bank???!!!

[sunshineMember@sunshineJoin Date: 2003Post Count: 63]

October 20, 2003 - 7:43 pm

Hi. Not night owls like you but an early riser! I have two properties right near the uni on the gold coast. One has 4 bedrooms at $80/week each with just a lock on each door, TV connection in each room and the house is secure.

The other home I live in. I have a granny flat downstairs rented at $150/week at the moment and I also have a homestay student. The homestay stuedent lives with us and pays $170/week for room and board. This increased my groceries by only $40/week max and I hardly notice she is there as they rarely venture out of their rooms. You can actually have two homestays at a time and it is income exempt from Tax as you are providing a non-profit service. She is under rules re water consumption (due to drought) but by doing this I cover my mortgage of $1100 per week for this home which is a big relief for a single mum. Interestingly I have just begun to notice for rent signs popping up along the ‘uni streets’ just in the last fortnight.

Quality houses near unis are a great idea and I havnt had a problem with a student since I began – about 4 years ago. Good luck to you.

[sunshineMember@sunshineJoin Date: 2003Post Count: 63]

October 18, 2003 - 10:44 pm

definately timber/floating/laminate timber or tiles. Tiles in the bedroom, scatter rugs or not can still be a bit cold looking, not to mention walking on.
In my first investment property – now long gone, we had to replace the carpet constantly, tried vinyl etc and even had a tenant who used the carpet as a permanent ironing board. Also babies and carpets do not mix, the sicky smell can be impossible to remove if the tenant has let it sit, dog stains are also impossible to remove and so is red chalk!!!
Sisal carpets are not long lasting in a tenant situation and do not last as long as regular carpet.so I would go for tiles or the timber flooring which may be more expensive upfront but do not require cleaning costs by yourself or tenant and also do not have to be replaced within the same time fram. You also cant compare the life of your own carpet to an IP as the same due care is nowhere near equal. Good luck![]

[sunshineMember@sunshineJoin Date: 2003Post Count: 63]

October 16, 2003 - 7:42 pm

You can often work out a basic rule of thumb that each bedroom is worth X, the garage is worth X and so on (obviously differs with each area), but if you are paying for your own valuation (as opposed to the bank) pump them for all the info and if possible be there when he does the valuation. Offering ridiculously low amounts is a waste of time in this market, be realistic and more importantly be persistent. I have absolutely no experience with buildings so I drive my valuer, pest inspector and building inspector crazy (though I think they dont really mind) and now I feel confident enough to do my own (though I wont) but it sure makes things easier, I set my limit and when it is reached walk away from the deal. Interestingly enough they have always got back to me. Cheers

[sunshineMember@sunshineJoin Date: 2003Post Count: 63]

October 16, 2003 - 1:17 am

Yes, you would be right. Thanks Marc. They advertised in the ‘Womens Money’ magazine, a failry new mag which I wont be buying again. I think I am in information overload, trying to understand all this. Am just finishing my Masters in Nursing which has cost me a small bomb and now wish I had invested it in finance education instead. Cheers!

[sunshineMember@sunshineJoin Date: 2003Post Count: 63]

October 5, 2003 - 9:27 pm

Just a quick note re building inspectors as well. I’m more experienced now but just last year bought a Queenslander, sat on the deck with the buiding inspector and he stated that the deck was safe and in good repair, also wrote this on the contract. The very first day in there my ten year old leaned over the verandah, it collapsed and she fell one story breaking her arm! On inspection it was apparent that all timbers were rotten at the base. Off to my lawyer BUT the bulding contract specifies that visual inspections only will be done and no ‘touching’ of areas is permissable. If I had known that Iwould have gone around rocking every board! Now I know the fine print, but I now also shadow every building inspection, ask many many questions and could probably do the inspection myself now! Experience is a great teacher (though I probably annoy the inspector like mad). Good luck!

[sunshineMember@sunshineJoin Date: 2003Post Count: 63]

September 9, 2003 - 5:50 am

I agree! I too built a granny flat under a home that I bought for 260,000 which is now valued at 500,000. The granny flat cost 22,ooo and is fully self contained and sparsely furnished. It is also rented out at $180 per week to an oil rig worker who is only here every second month. I take care of his dog while he is not here whihc is great as being a single mum I get extra income, a part-time guard dog and never see the tenant at all. Would I do this again…yeah!!! The granny flat is built along the lines of a teenage retreat for future marketing to families. cheers!