[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

September 20, 2004 - 8:30 am

Don’t agree!!!

If funding for public schools is the answer to their woes, remember The STATES fund the public schools.

The state goverments particulary NSW have shown they are useless in money management in education and health. Record revenues have turned into deficits (NSW). The $1 billion defecit in NSW of wasted taxpayers money could improve public school infrastructure).

Rather then look at the problems within the public system directly it is always the lefty’s way to blame someone/something else (gee the rifle range did it

A lot of people from varied classes are of the believe that their child will get a better education and gain other values of respect etc at a private school. The kid may turn out bad in the end but the parents think at least they are trying to point them in the right direction.

Its all classes that send their kids to private schools (yet the leftys argument always centres around Scotts or Kings, which are way different to the norm private schools).

Private schools get around 22%? off their funding by the state government, the gap needed to run the private school is made up by the federal goverment. So of course the private schools get more federal dollars.

Of interest would be to know the combined state + federal funding to particular private and public schools. To see how it is spent and the results each school achieves.
If a private or public school has a rifle range or swimming pool that is directly funded by the parents SO WHAT.

If the feds didnt make up the difference and the poorer private schools (yes there is such a thing, no rifle range sorry) were left to fail, the public sytem would buckle under the influx. Imagine the Carr goverment trying to buy back the land that’s just been sold in the public schools to extent or build new schools.

How ever I think the problem is two fold

Whilst infrastructure is important the quality of the teachers needs to be measurable and then rewarded as well.

A teachers performance based system in public schools would go a long way to improving childrens education, as hopefully the useless teachers get weeded out of the system and the good performers rewarded thus encouraging them to stay.

The teachers federations argument is that it wants the higher rates of pay to “get the best” however the best must be measurable otherwise you could get more weeds.

The private system is more measurable and the teachers appear more content working in that system over the public one.

PRIVATISE THE LOT!!

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

September 16, 2004 - 10:53 am

Originally posted by elika7264:

Hi All

No Takers!!!!

C’mon guys[eh] [glum2] [sleepyanim]

Helen[cap]

Just use somersoft as yr primary page and not this one. Works for me

The most interesting topic lately was Peter Spanns new book (which is well worth a read).
http://www.somersoft.com/forums/showthread.php?t=16897

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

September 9, 2004 - 9:41 pm

Originally posted by kp:

Excellent synopsis Peter,
Straight to the point..and accurate as well.

Another point with using depreciation ( non cost tax deduction) is that it erodes the value of you asset base by the amount of the depreciation you have claimed as a tax deduction.

If and when you sell, you will be liable for capital gains on the sale price minus the WRITTEN DOWN VALUE of the asset, not the initial purchase price of the asset.

In effect, you are getting a tax deduction today, and foregoing a profit in the future by paying a greater amount of capital gains tax…when you sell.

KP

Very good KP a fact often overlooked in most books and forums.

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

September 1, 2004 - 7:15 am

Originally posted by adriannqld:

Anyone looking at building in Mt Louisa or Yarawonga Townsville? Looking at doing so and wondering if anyone else in or been in our boat. Cheers

Hi,

I was up there 2 weeks ago catching up with old school friends. You couldnt get 2 completely different suburbs. So is your question more would it be better to build in a prestige area like Yarrawonga or the suburbs like Mt loiusa. You get 4 houses in mT loiusa for one in Yarrawonga.

Correct me if Im wrong… my train of thought and dilemna was the same.

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

August 31, 2004 - 5:28 am

Your right Kay

one means work…the other means more work

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

August 31, 2004 - 5:18 am

Imagine Latham as Prime minister (speaking on the International stage for us and constantly backpeddlling when put on the spot).

Crean as Treasurer (the ALP’s first real budget announcement several months ago was already 1 billion short when it was financed properly, Costello found the stuff up for them).

Beasley as Defence minister again…put us down for another fleet of those Collins subs.

I agree rates will go up under either parties but higher under labor (higher inflation).

I love it when LAtham says all those warm fuzzy things he is going to do…then i think ummmmmmmm where is the money comming from (taxes)

Has there been a labor goverment that has actually left the country in a btter financial state then when it took over office from the liberal party??

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

August 30, 2004 - 8:48 am

I agree with it. I also agree with this one.

“Profit is made when you buy not when you sell”

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

August 30, 2004 - 8:33 am

Quote:

Originally posted by kay henry:

Hey Ted,

Ig CGT was at 50%, then I wouldn’t care- it would simply be taxed the way the rest of earnings is taxed. If negative gearing was abolished, well, it would put property investors on the same level as other workers- no big deal to me.

So for your hard work and diligence in property investing you wouldn’t mind further tax penalties in your quest to get ahead.

When the exit duty came in, I didn’t have a hissy fit. Check back on my posts at the time, to see if they reflect this- if you can be bothered, which I presume you can’t.

I am glad you are happy with it. What about if it was continually raised from 2.25%
I don’t need to check back and see if you had another hissy fit.

I assume you disagree with my perspective- that’s fine. You’ll vote for the party that protects your property interests, and I’ll vote for the party that works more in line with my other interests in life. It’s ok if you disagree, but I am sincere in my intention of what I said. If a party said they would abolish negative gearing, and spend the extra tax base on public schools and health… well, I would gladly vote for them.

Well isn’t that the case with the windfall in NSW and Vic with Stamp duty and it still isn’t being spent/managed to provide better schools or hospitals. How much of YOUR money would you like to continue to give on the premise that it is being spent correctly.

We’re all different, Ted. Just because I am on this Board, doesn’t mean I have to follow some prescribed way of thinking. We have one thing in common- interest in property investing, but it doesn’t determine who I vote for- for me, there’s many more important things to consider in governance.
kay henry

I agree were all different some more then others . “Many more important things to consider in governance”[blink]

Governance all costs money, the money comes from tax payers (and indirectly from there property investments).If the money isn’t managed properly from this indirect source is that also not important.

So I would vote for the party that can MANAGE what they have been generously given without the need to keep dipping into the taxpayers pocket.

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

August 30, 2004 - 6:04 am

Originally posted by kay henry:

I will vote for the party that suits my political perspectives in many ways- my interest in property will not determine my vote.

kay henry

Pleeeeeeeeease

If property was a primary source of income both present and/or the future then exit taxs (like BoB Carrs) ,increases in CG tax, abolishment of NG would have no effect or concern on who youd vote for.

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

July 23, 2004 - 11:49 am

Originally posted by Pepper:

Hi everyone,

This is my first post so please be gentle with me.

I’m looking to buy my second investment property. Well actually it’s my first property purchase without any assistance from a buyers agent. I wanted to have a shot at negotiating on my own this time and I figured it’d be good experience.

I even have the place I want in my sights. It has been reduced in the last 6 months from 395 to 330 apparently because the vendors are going overseas soon and they are running out of time to and desparately need to sell. The vendors reserve or desired price is ideally 345 but the agent reckons is I offer 330 that it would secure the sale, but that I need to act quickly as it hasn’t been advertised for the reduced price yet, he’s just letting me know as a favour (hmmmmmm???).

I even got my uncle to have a look at the place with me, as he is a property valuer by profession and he reckons its a steal at that price and said it’s probably worth in the vicinity of 345.

What should I do????

Thanks in advance.

Pepper

Offer 315 and see what happens. Thats factors in another 10% decline in the market.

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

July 22, 2004 - 4:39 am

Originally posted by Fnomna:

SuperTed, do you mean he’s using ours to show his other listings that because ours isn’t selling, the others should drop their prices to sell?
Or do you mean he is using ours to have open inspections and get new listings?

If he’s trying the former then we sort of got that feeling. If he’s trying the latter, then the agent (the director’s trainee) is not doing a good job for his boss because he’s constantly on the phone and not talking to anyone coming through the opens!

Either way, we thought he was just keeping us on just so he has another listing to advertise and make it look like he’s active in the area. Yes, in other words, using us. That’s why we’ve stopped all advertising and took the sign down ourselves.

This is our first home we are selling and I am curious about other people’s experiences.

Anyone else got bad R/E agent stories ???

More the former

Using price or a “potential” bad feature of yr house to sell other properties to buyers.

Ok as an example I have 5 TVs for sale. TV 1 is always kept slightly out of tune at a high price/or same price. It is then easier to sell other TVs that have “better” picture.

It is also easier to sell 4 good TVs if you can compare to 1 “bad” as your base start point. It is harder to sell having 5 same pictures.

So the agent shows your place first and then moves to better priced property/features etc.

It doesnt take much to put a bad or good thought into someones head when playing games.

BTW I dont sell TV’s

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

July 22, 2004 - 2:47 am

Originally posted by SuperTed:

Originally posted by Fnomna:

So my first point would be ask them what they expect advertising will cost and why.

We did that. He gave us a price for ads with and without pictures/sketches. The problem came in a couple of weeks when he tried to get nearly double what he said because he now had less listings and had to cover costs for a certain amount of “space” in the paper! We argued he never told us about that and only agreed to pay the original amount each week. Every week there would be only one phone call – to get us to pay more for the week’s advertising and arrange a time for an open!

You should also ask how long they think they will take to sell the house? My advice is do not tie your house to anyone for more than 30 days. While we would all like 60 as a minimum. It’s not necessary if they have quoted you an accurate estimated sale price. The extra 30 days is normally used to get the price down if they have high balled you for business. If you are happy with them and for some unforseen reason they can’t sell your house – that is reasonable, they should be confident they can get your business for another 30 days. We only ask for 30 days and haven’t had to re-sign anyone. I’d prefer our clients be happy to stay with us than forced by a contract.

This is where we got stuck. We had read everywhere not to sign for the standard 90 days, but for some unknown reason we did! We trusted him when he said ‘dont worry we’ll sell your house’.
There was just one bad thing after another with this agent and one weekend we had enough and during a heated phone call tried to get them to end the contract but they wouldn’t and said we were signed to them for 3 months.

The agency you choose while certainly needing to be reputable, is probably less important than the individual you engage as your listing agent. It needs to be some one you feel very trustworthy and honest . So ask yourself do you trust the person, do you genuinely feel good about being in their company?

After our phone call, he no longer wanted to deal with us (neither did we!) but he fobbed us off onto his trainee ‘agent’ who would prefer to stay on his mobile phone during opens instead of getting feedback from people!
After about 3 or 4 opens, he told us we need to think about how low we will come down in price and that he would have this conversation as many times as he likes! We were firm with our price, but he only had one real offer to go by which was about 15% less than we would accept.

Quote:

You may be asking why I haven’t mentioned price yet and that is because, if you rely on any agent for the price of your property before doing an objective assessment yourself you are heading for big trouble. You should already know the accurate value range (no more than 5 – 10 %) before they come in. You should scour the market, get past sale result data and view recently SOLD property.

We thought we’d be right here becuase we got an independent valuation done before talking to 5 different agents. 4 of them said we’d sell at around the same price (we didn’t tell them the valuation). This agent hasn’t got an offer near what we would accept.
Also, I kept my eye on local prices every day for the past 2 years. One down the street was very similar to ours and got a price we would have accepted for ours! Also, one further down the street was actually sold for a very good price by this agent we are with – partly why we signed with them.

Currently (after 4 weekends of opens and after deciding this agent was not going to be able to get us the price we want) we have stopped all advertising including internet and the signboard. Trying to minimise the ‘damage’ and ‘overexposure’ this agent has caused.
If by some miracle someone who has seen the house makes an acceptable offer before the contract runs out – they will get their commission – but they don’t deserve it!

Easy to see >>>The agent is using your property to sell off other properites.

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

July 22, 2004 - 2:45 am

Originally posted by Fnomna:

So my first point would be ask them what they expect advertising will cost and why.

We did that. He gave us a price for ads with and without pictures/sketches. The problem came in a couple of weeks when he tried to get nearly double what he said because he now had less listings and had to cover costs for a certain amount of “space” in the paper! We argued he never told us about that and only agreed to pay the original amount each week. Every week there would be only one phone call – to get us to pay more for the week’s advertising and arrange a time for an open!

You should also ask how long they think they will take to sell the house? My advice is do not tie your house to anyone for more than 30 days. While we would all like 60 as a minimum. It’s not necessary if they have quoted you an accurate estimated sale price. The extra 30 days is normally used to get the price down if they have high balled you for business. If you are happy with them and for some unforseen reason they can’t sell your house – that is reasonable, they should be confident they can get your business for another 30 days. We only ask for 30 days and haven’t had to re-sign anyone. I’d prefer our clients be happy to stay with us than forced by a contract.

This is where we got stuck. We had read everywhere not to sign for the standard 90 days, but for some unknown reason we did! We trusted him when he said ‘dont worry we’ll sell your house’.
There was just one bad thing after another with this agent and one weekend we had enough and during a heated phone call tried to get them to end the contract but they wouldn’t and said we were signed to them for 3 months.

The agency you choose while certainly needing to be reputable, is probably less important than the individual you engage as your listing agent. It needs to be some one you feel very trustworthy and honest . So ask yourself do you trust the person, do you genuinely feel good about being in their company?

After our phone call, he no longer wanted to deal with us (neither did we!) but he fobbed us off onto his trainee ‘agent’ who would prefer to stay on his mobile phone during opens instead of getting feedback from people!
After about 3 or 4 opens, he told us we need to think about how low we will come down in price and that he would have this conversation as many times as he likes! We were firm with our price, but he only had one real offer to go by which was about 15% less than we would accept.

You may be asking why I haven’t mentioned price yet and that is because, if you rely on any agent for the price of your property before doing an objective assessment yourself you are heading for big trouble. You should already know the accurate value range (no more than 5 – 10 %) before they come in. You should scour the market, get past sale result data and view recently SOLD property.

We thought we’d be right here becuase we got an independent valuation done before talking to 5 different agents. 4 of them said we’d sell at around the same price (we didn’t tell them the valuation). This agent hasn’t got an offer near what we would accept.
Also, I kept my eye on local prices every day for the past 2 years. One down the street was very similar to ours and got a price we would have accepted for ours! Also, one further down the street was actually sold for a very good price by this agent we are with – partly why we signed with them.

Currently (after 4 weekends of opens and after deciding this agent was not going to be able to get us the price we want) we have stopped all advertising including internet and the signboard. Trying to minimise the ‘damage’ and ‘overexposure’ this agent has caused.
If by some miracle someone who has seen the house makes an acceptable offer before the contract runs out – they will get their commission – but they don’t deserve it!

The agent is using your property to sell off other properties…

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

July 22, 2004 - 2:35 am

Originally posted by Michael R:

These “rules” appear more politically driven than common sense – the Labour Government attempting to gather support from those in the wider New Zealand community [in the build-up to the election] who do not understand the importance of foreign investment – capitalizing on the “New Zealand is being sold-out” theme.

“doubling the threshold at which companies are scrutinised” is a weak attempt to offset the business communities concerns – typical Michael Cullen.

It will take a lot more than this “incentive” to attract much needed foreign investment into New Zealand’s business sector – corporate tax incentives should have been implemented years ago as a first step.

If the rules re: acquiring property become too stringent [which is now evident], direct foreign investment in New Zealand could rapidly decline to the point where the negative impact on the property market, and greater economy, will adversely affect every New Zealander. This can happen very quickly especially when the Australian market rebounds.

Foreigners may buy the land, but they cannot take it with them.

Foreign investment is a catalyst for building wealth in the greater community – when foreign funds are invested in property, the market and economy [and therefore community] benefits.

Eventually the property is sold, by which time more people within the community have benefited financially and can afford to purchase the property.

In terms of protecting land from development, it does not matter where the land owner originates – New Zealander or foreigner. Constraints should focus on design and zoning controls rather than “ownership”.

Such controls have been overlooked resulting in a mix-match of predominently mediocre development in New Zealand. Queenstown being a prime example.

Companies are easily relocated off-shore resulting in lost jobs.

Less scrutiny by a clandestine government authority does not compare with financial incentives, i.e. tax breaks, such as those offered by Australia and the United States.

Sustaining a competitive position in the global marketplace – and retaining successful companies, is reliant upon clearer financial and economic incentives – which the New Zealand government has still not addressed.

— Michael

Its always easier for lefty’s to blame someone else for thier shortcommings.

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

July 21, 2004 - 12:40 pm

Originally posted by westan:

Hi all

hey i don’t want to give the wrong impression Kiwi’s have a love/ hate relationship with Australia. there are so many people in NZ who have a family member living in OZ so there really is a very close connection to australia. Most Kiwi’s could name the Australain cricket team how many Ausies could name 3 NZ cricketers?

cheers
westan

I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database

Ummm Richard Hadlee, Lance Cairns , now Im stuck

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

July 20, 2004 - 8:13 am

Originally posted by allaboutinvestments:

Ahh I see, my apoligies to you all for the incovience, i must of missed the fine print, a good lesson to learn espeically in proeprty contracts,
I have made a mistake and will move forward from this. Just thought i would try, just like making offers on proeprties, amazing how much you can save by just asking

well talk to you all on the boards

take care

Phil

All About Investments
Property Investment Specialist
“Believe in yourself and in your goals though impossible things may seem”

Id probably drop the Specialist part of your sig untill you get your game soughted

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

July 20, 2004 - 7:50 am

100% + cash and in no rush

Im at a stage where i will not sacrifice lifestyle to become filthy rich. I figured i only need a reasonable disposable income to be happy.

Will probably add 2 more IPs (good areas and neg geared) when i feel “real” value is back in the market Im looking at .

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

July 19, 2004 - 7:09 am

Pubs can also be priced relative to their Keg sales.

Sometimes the “real” keg sales are not really what they appear..

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

July 19, 2004 - 6:27 am

Originally posted by westan:

As far as talking shares they are the rules of the forum, whether we agree or disagree noesn’t really matter.

regards westan

Hi Westan
I have no Prob with the rules …. are you wanting to be a moderator as you seem to have a prob with rules or their enforcement??

Actually you said the bad share word before me and a moderator followed on with Supafreaks comments

Plus re read the original post.

Originally posted by Melissah:

Scenario:

Your currently renting, are on a low income and have never invested before but would like to get into investing. $4000 caomes your way, what do you do with it?

(Now I know everyone/situation etc is different, just though it would be interesting to see what different things people come uo with) [biggrin]

Melissah

Now Id hope that the forum was more well rounded to discuss various techniques that would add to a possible better property entry (education and $$) for Melissah instead of forum ppl trying to earn brownie points.

Everyone has different ideas..(which was asked for in the original post). The beauty of the forum is that wierd and wonderfull ideas get thrown up most being dismissed..and hopefully the good ones get acted upon.

[SuperTedMember@supertedJoin Date: 2003Post Count: 205]

July 18, 2004 - 11:31 pm

So what could you do with $4k in prop? (maybe mortgage insurance and a cheapie)>> bringing the topic back in line.

Being that you cant broadly discuss shares.. so really you shouldnt discuss term deposits, cash management trusts or any banking transaction as that is not “property” either.

Also technically the rules would be breached as well if talk revolved around investing in a property fund, funny that.