Originally posted by yack:
“In the absense of a specific provision governing the time of acquisition or disposal of as asset, the following rules apply;
1. If an asset was acquired or disposed of under a contract, the time of acquisition or dispoal is the time of making the contract
2. etc
3. etc”

So I reckon the contract would state the…[Read more]

bruham – well done. I agree its important to reward oneself – its not important the size of the reward either.

Congrats

This market is different from previous markets – thats what they said about the IT Boom. And it came a crashing down.

My IT based shares are still recovering!!!!!

People still get greedy – overcommit and come a crashing back to reality when interest rates start to rise. This will be no different.

I agree. In addition to sea chnagers they were referring to inland lifestyle towns eg. Daylesford that have services.

I suppose they made the assumption some people are sitting on a $600k PPOR and downgrade to a $300k PPOR.

Bruham

Isnt driving taxis like being those old ladies waiting for life to pass them by.

Ah well each to their own. Night shift starts about now. See ya.

Wooooo – an office chair – must have been a BIG win.

Congratultaions Greg – keep up the good work.

A couple of quick questions –
1. You got contingencies if interest rates go up 2% over the next few years?
2. You had many tenant hassles? How much time do you spend in addition to teaching?
3. Had much in the way of repairs?

I too have read Ordinary Millionairres. You would have noticed there was about 10-14 different stories on how each had made at least $1m from property.

Sure some did it that way – others did it a different way.

At this stage of the property cycle (historically low interest rates) I would not do these types of investments.

I prefer to invest…[Read more]

From a Master Tax Guide – 1989. the data may be wrong – but i doubt it.

“In the absense of a specific provision governing the time of acquisition or disposal of as asset, the following rules apply;
1. If an asset was acquired or disposed of under a contract, the time of acquisition or dispoal is the time of making the contract
2. etc
3. etc”

So…[Read more]

I will check with ATO.

I believe its settlement date. You still have all the rights and responsibilities of ownership till settlement.

Once I know I will post reply.

Yeah. That worries me. All these people buying unseen based on purchase price.

I have enough to worry about with good investments locally let along ones from the other side of the country.

These are my current issues;

1. Need to piant front and back windows. Painter $900 or me $200.
2. Carport in one unit on last legs. When do I replace.
3.…[Read more]

<<<<<What is your advice – do I study the market and get frustrated at not being able to buy or do I continue to build my knowledge base and go out there in 12 months when houses will probably be a touch more expensive?>>>>>

As I am not a broker, my advice may be a little different. Learn what you can and invest in 12 months. I see the market…[Read more]

They are not desirable properties for me. If there is a risk I will end up with nothing as I cannot insure for its loss – I would not invest.

As for an area with undesirable tenants. I want to sleep at night. I would rather invest in a property that caters for average incomes. I want to sleep at night. I invest to make my life easier not…[Read more]

I am still a little confused. What is the sale date in this case?

Contract date subject to finance and building report 12 June 2004.

Contract now unconditional 2 July 2004.

Settlement Date 15 August 2004?

What is the date for CGT purposes?

Do mortgage brokers provide that information? If not, should I find one who does? That way you know you are dealing with an open broker. Is that correct?

Thanks for your advice. I will bring it up with my solicitor. I trust my solicitor and the broker is an ex-solicitor colleague of his.

I am not easily fooled – well I hope. But you never know. If I am to use a broker it will be still with my bankers (Comm Bank) and i prefer to use the other major banks. The other banks need to attract…[Read more]

Go to the casino and put it all on RED.

Well thats not what I would do –

Nor is Super. I dont like Super. Only worth it if your close to retiring ie.2-3 yrs away. My super after working 15 yrs is a hell of a lot less than my 7 yrs property investing. And I mean a hell of a lot less.

Put it into your PPOR redraw/offset account.

I just sold a property a few days ago in metropolitan melbourne.

I reckon I got a price similar to 6 months ago. So maybe i experienced a drop of 1%. Still not too bad.

So I feel in this instance REIV has better data.

I understand APM only report auction results whereas REIV also has private sales. I dont think APM has access to private…[Read more]

My only advice would be to get them out ASAP.
Dont get hisheartened and give property investing away – get a property manager to look after it in future.

Or review your application processes and see where you may have gone wrong.

I always use a property manager – for the reasons you are now experiencing.

Mobile Mortgage said

<<<<I believe Steve has every right to try and recoup some of the overheads incurred from the running of this site.>>>>

Bottom Line – I agree. Its a competetive market and Leonie wont have it all her way, but in the first instance she may get the inquiries. But needs to perform to keep people happy.

Good luck with it…