Hi Kristy,
Good to hear from you again – often people come on, ask a question, never to see or heard from again.
Sounds like you have managed to turn the ship around ever so slightly. Good on you for doing so.
As I suggested in an earlier post it may also be to your benefit to submit a PAYG tax variation – depending upon your situation and the numbers associated with your property this strategy may also release some of the pressure. The ATO recently released the necessary forms for next financial year so this is something you can do now so the reduced taxation comes into effect from 1st July.
The PAYG form is a fairly easy to complete. If you want some more information send me a PM, we can exchange phone numbers, and I can walk you through the form.
kochy1983 wrote:Somehow I have even actually managed to save around a grand since I was last on here, for any unexpected costs which may occur!
So thanks guys, your help was much appreciated.
Kirsty
That's huge girl. You've gone from someone drowning in financial quick sand to a grand ahead in the space of 2 months.
Every Oak tree started off as an acorn. Well done!!
Thanks for the kind words freckle
$110 a week better off and a grand in the bank is alot to someone like me, and especially seeing as my IP has been empty for a month I am quite proud of myself for managing to save even that amount. – it will be rented out as of next week though luckily!
Hi Derek
Yes I have been lurking around the forums for awhile now, doing heaps of reading, there is so much to be learnt here!
I did have a think about the PAYG form but I still have my heart set on selling my IP in the next couple of months so didn't think I would worry about it, seeing as I have nothing else to claim other than my house.
I really appreciated the offer to take the time out of your day and help me on the phone to fill it out though, thank you
Kirsty
I am very surprised no one suggested this: How about selling one or both of your properties on either a lease option or installment contract? They will become positive cashflow properties, and you will get a higher price for them. It will cost $1K to $3K to educate yourself on it, but it would be well worth it. Try Rick Otton's courses, either brand new, or if you are lucky, on Ebay. Or there is the boot camp as well, which costs $3K, or $900 per month for four months. Or maybe someone who knows these things can do a joint venture with you, and you split the profits.
Hi Kirsty,
No worries – understand the logic behind your decision.
If the situation changes and you want to revisit the PAYG option don't hesitate to drop me a PM. The offer stands.
Cheers
Sounds interesting. I will take a look into it and see if I can find some second hand books to read. Thank you
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