Forum Replies Created
A couple of quick points
(1) You have to live somewhere sort of!
(2) The principal residence is capital gains tax free. You need to have a good understanding of the capital gain rules or the capital gain that you make could be gobbled up very quickly if you are not careful.
Living in a country town with a pop og 5000 the local Commonwealth bank in town has absolutley no problems with 80% LVR for properties in town
Building an IP now …
Land $ 4k
Building $ 136k
Cost $ 140kValutation $ 185k
For sale at $ 185k
Nett proceeds if sold $ 178kReturn if sold 27% in six months
OR rent it out at $ 220 per week
Annual income of 11,440 or gross yield of 8.17%
Borrow the lot (76% LVR) I/O 5 years at 6.7 % interest $9380.
Cash for rates, agents fees etc $ 2060. One would hope no maintanance on a new property!
And all that yummy, yummy depreciation!
Cash on cash return infinite as no cash involved!
Homeowners stung by another rate rise
December 3, 2003
Homeowners received a disappointing Christmas today present when the Reserve Bank announced a quarter of a percent rise in interest rates, the second consecutive lift.
Official interest rates have now risen to 5.25%.
This rate hike will add $30 to monthly repayments on the average $189,100 home loan, and likely be followed by at least one more hike by the middle of next year.
New figures released by the Australian Bureau of Statistics suggests that last month’s rate increase has done little to dampen spending. Retail sales lifted 1.2 per cent in October, double that of market expectations, while approvals for units and townhouses climbed 1.6 per cent.
The rates increase is also expected to put more pressure on the Australian dollar which is flirting with the US73 cent mark.
A higher dollar would hit the export sector which is still recovering from the drought and the stronger dollar of the past six months.
Economists now await the latest national accounts figures will give an insight into the strength of the economy.
AAP
This story was found at: http://www.smh.com.au/articles/2003/12/03/1070351615577.html
No more sleeps to go …
counting down the minutes 240 to go!
Try presing the print button and you will get a printable file and copy and paste from that
Richmond!
What are you on?
The whiff of matrimony perhaps?
Good luck with the wedding!
Its a pity telegrams have ended otherwise I could have sent
“Lord Baden Powell, The Lord Kitichner, The Duke of Gloster, The Duke of Kent, The Student Prince and all the other pubs that you frequented during your batchelorhood regret your passing into the ranks of matrimony”
Nominate Richmond as achiever because he is getting hitched!
There are normaly two distince and separate legal identities. The Body corporate itself and the company that manages the body corporate.
When you say “building management has been taken over by administrators” are you saying that the building management company, the manager of your building has been taken over by an administrator or are you saying that the body corporate itself has been taken over by the administrator?
The manager of the body corporate should have the funds belonging to the body corporate separate from its own internal funds and unless the body corporate itself has had an administrator appointed or there is fraud the body corporate’s funds, including the special levy, should be safe!
Wonder what the building insurance premiums are?
It is a pity that the originial post to which the post immediatley above this one responds to was massivley edited, presumabley by the author. Unless you read that post it doesn’t make sense.
There appears to be some historical revisionism going on!
Glad I have a copy though!
This is what I would do
Take all the cash for the next ad and drive to the nearest casino, find a roulette table and place the whole lot on the red. One spin only because you have at least got a 48% chance of doubling your money.
Its the message not the medium. The message is crap. It misses the FUNDAMENTAL rules for generating leads or sales.
Do the suggested course. Invest your money or pay someone to write it for you!
The 2530 is cheap to learn how to do it.
We once wrote an ad that jammed the switchboard at the AMP with people wanting to buy life insurance!
We used to charge thousands of dollars and you could write the answer on the back of two postage stamps. Two postage stamps of notes was all that was needed.
Its that simple! Like most things, once you know!
The best book on the subject is John Singleton’s autobiography called “True Confessions”
“I was wondering if anyone had any advice on the possible pitfalls with this kind of purchase and anything we should look out for”
That the numbers stack up and that there are no little fibbies in the deal!
All posts relating to stocks have been deleted this afternoon. Perhaps yours wandered and was purged with the stock deletions?
Robert Kiyosaki “Rich Dad Poor Dad” gave a talk some years ago and said that one of the happiest days of his life was in October 1987 when the US stock market tanked.
It gave him an oppurtinity to get what he wanted at the price he wanted to pay.
My list of units in high rise blocks in Sydney (the item most tipped to crash and “they” and “the experts” say to keep away from) is complete ALONG WITH the price that I am willing to pay and I am in a position to settle in 7 days if need be!
Saw it in 1987 and will see it again.
Keep your powder dry. The bargins will reappear!
The bargain will come along!
NII liquidators meeting next Tuesday!
http://www.smh.com.au/articles/2003/11/25/1069522606435.html
What about all those poor people waiting for their refunds?
Mr Forextrader
Lions 20 Christians 17
The antopideans got the silver medal!
Blood and gore throughout the colleseum!
Mr westan Esq.
“i’m 39 and will finish working on Dec 19th .
regards westan”Me dips me hat to you.
1987 more like 22%
Shaun,
The only real estate agent that has an office in Junee is very selective as to the style of tennant that they install in my experience.
There are people in town that appear unable to get their application for rental accepted!
Today I counted real estate for signs form (1) Raine & Horne Wagga (2) Jennings Real estate Wagga
(3) Wagga Real estate Colamon and tghe local on houses!The one agent certainly does not have a monopoly!
shaunwalker
The railway roundhouse reopened in 1995 and is now run as a privatley operated railway repair business that currently has as large a payroll in town as any other commercial business. They propose to expand the business to double the size, needing to employ another 10 or so people there.
There are even private individuals building houses on spec to sell these days!
The attraction of the licorice factory is unique in the area and attracts in the order of 1200 people a week to town.
It is a town that will have significiant growth as a result of tourisim and commercial expansion.
There are four houses available for rent as of noon today!
