Thanks: 0
Likes: 0
Needs Pictures: 0
Picture(s) thanks: 0
Results 16 to 30 of 52
Thread: Investment Property Advice
-
8th July 2007, 06:03 AM #16
-
8th July 2007 06:03 AM # ADSGoogle Adsense Advertisement
- Join Date
- Always
- Location
- Advertising world
- Age
- 2010
- Posts
- Many
-
8th July 2007, 07:34 AM #17
No matter how hard I try I can't think of a better use for that 70k than a new shed for me.
-
8th July 2007, 10:18 AM #18
Of course
It's not supposed to. I think you should read the post above yours regarding leverage. Nobody I know ever waited until they saved the entire purchase price before buying an investment property.
Just be a little careful here. There is such a thing as getting too much independant advice, taking too long and buying the wrong thing. I've seen it many times. People come into the office who have been looking for a year ! What a waste of time. They often end up buying the wrong thing in my experience. A mate of mine did that. He ended up with the only real estate in Melbourne which went down in price over the past few years - an inner city apartment. He couldn't get a regular tenant while many others were still being built and for sale. He got out of it but lost over $100,000 in the process. I advised him to buy locally, at an affordable price where it was easy to rent out but he got all the good oil elsewhere. The one home I did show him has doubled in value since.
Everybody's an expert when it comes to real estate. If you want to buy a property keep it simple. Find the area you want (usually based on what you want to spend), check out the homes for sale and those which have been sold so that you have an understanding of the value in that area.If at first you don't succeed, give something else a go. Life is far too short to waste time trying.
-
8th July 2007, 10:39 AM #19SENIOR MEMBER
- Join Date
- Aug 2002
- Location
- Boyne Island, Queensland
- Age
- 51
- Posts
- 929
I don't think this is right.
For non-concessional contributions (personal after tax stuff like Doughboy's 70k) there is no entry tax. At least that's what I can work out from a number of fund sites I've looked at.
http://www.firststatesuper.com.au/Gr...eContributionsDan
-
8th July 2007, 10:40 AM #20
-
8th July 2007, 10:42 AM #21
-
8th July 2007, 10:43 AM #22Registered
- Join Date
- Aug 2003
- Location
- .
- Posts
- 10,482
Buy into a managed fund from here
Easier to get your money out if need be, and you dont have to worry about tenants breaking up your house.
Al
-
8th July 2007, 10:48 AM #23
I think you're right but super is definitely an area for financial advice. There are lots of other issues like concessions you can claim against any capital gains tax liabilities by plonking a certain amount into super. It's a minefield and best discussed with a good accountant, not in here.
Besides, I think he's too young to be putting that much into super. You can't touch it until you are 60 so it's a long way off to be locking it away.If at first you don't succeed, give something else a go. Life is far too short to waste time trying.
-
8th July 2007, 12:12 PM #24
-
8th July 2007, 03:26 PM #25
Definitely, everybody's an expert, and their advice is worth what you paid for it, and often less than that. I agree that finding an area and sticking to it is a good idea, because then you can become an expert. Your choice should be based on forecast growth in property prices (from a trusty crystal ball) combined with low rental vacancy rates. - often inner city, but also fringe areas about to explode - in Brisbane, Logan, Redcliffe and Deception Bay and Springfield are good options at the moment. Another good thing is good public transport - train stations especially. Remember you have two requirements - a good supply of tenants, and high growth in property values.
All of the above is worth about 8% less than you paid for it.Cheers, Richard
"... work to a standard rather than a deadline ..." Ticky, forum member.
-
8th July 2007, 03:55 PM #26
See this is what I was lookong for... not a you should or a this would be best for you just some good ol' fashioned advice and thoughts.
Those of you who want a piece of the 70K can wait till I reach that millionaires row.
I would rather not tie it up in super at this stage as I want to be able to access the money if needed. Shares are not really an interest to me..... I just have not considered it that is all. I would like to go down the real estate line. I just feel that property is a 'real' investment. Race horses break down and shares are volatile.
I know the area I would like and I think 450K is a fairly realistic ballpark figure. DHA interests me but I am not sure if that is really what we want.If you are never in over your head how do you know how tall you are?
-
8th July 2007, 04:55 PM #27GOLD MEMBER
- Join Date
- Oct 2002
- Location
- NSW
- Posts
- 1,610
When I went through Uni, a demographics lecturer and an economics lecturer both strongly suggested property investment for my generation, and it's worked pretty well for me.
However, if I'd bought shares, I wouldn't have to pay:
* council rates
* insurance
* land tax (wipes out the entire income from one house, in my case)
My tenants have generally been pretty good, but there was one set I passed over to a managing agent after they got way behind, and wouldn't respond to letters, phone calls, faxes etc.
Cheers,
Andrew
-
8th July 2007, 09:51 PM #28
There is nothing new in this advice, but here it goes.
The land is the appreciating part, the building the depreciating part. Just keep that in mind when you are buying that house you are going to rent out and not live in. I've seen people live in hovels, so dont buy based on what you would like to live in.
-
9th July 2007, 04:30 AM #29
Youre right. Sorry I should have specified this. I was referring to pre tax contributions. Post tax contributions don't attract 15% entry tax but earnings within fund are still taxed 15% plus Cap Gains Tax.
The most effective way for people on medium to high tax bracket to save for retirement using a super fund is by salary sacrificing into same.
As someone has already posted, if considering the super route then get some advice from a financial advisor on same. The rules can be quite complex and theyre constantly changing. For those considering a self managed super fund do your homework, be aware of the costs involved and be ready to become an unpaid employee of the ATO.Whatever note you blow youre never more than a semitone away from the correct one....(Miles Davis)
-
9th July 2007, 02:54 PM #30Senior Member
- Join Date
- Dec 2001
- Location
- kingscliff qld
- Posts
- 341
My son is a mortgage broker and he is working seven days a week refinancing smart arses who thought they could afford properties,then fell over when something happens to them eg marriage break up,redundancy etc etc
Similar Threads
-
1928 Sydney Harbor Ferry
By myrnaboys in forum BOAT BUILDING / REPAIRINGReplies: 84Last Post: 7th May 2008, 11:29 PM -
Property advice needed
By creativeyes in forum NOTHING AT ALL TO DO WITH WOODWORKReplies: 21Last Post: 22nd May 2006, 12:30 PM -
Investment advice
By Grunt in forum NOTHING AT ALL TO DO WITH WOODWORKReplies: 3Last Post: 11th March 2006, 11:48 PM -
Investment Advice
By Baz in forum WOODIES JOKESReplies: 1Last Post: 11th August 2003, 10:52 PM