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    End of an Era

    NNOO!! You HAVE to stay. I admit I'm not on here as regularly as I used to be but it's still nice to check in. Even if it's to see what "friends" are doing. I couldn't stand it if the new forum had someone else with the Skater tag! :eek::eek: See you in July!
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    End of an Era

    Thank you Jan and Ian. And also to SIM. What a great gift you have given to people. I bought an investment property in 2008. I thought I was pretty clever until I found this forum (while awaiting settlement). The amount of knowledge here astounded me. From then I was addicted and went on...
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    When do you decide to improve IP

    That's a lot of things to do in just 2 years. Are you sure self managing is right for you? I thinjk you are over managing and spending more than you would if you had distanced yourself from it. If I hear from tenants more than once a year I'm complaining (silently of course). ;) I would not...
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    Live in Studio Rent out PPOR

    What do you mean by studio dwelling? Like a granny flat but smaller? Will it be a legal ie habitable room? If not insurance will be an issue. Insurance- Yes. You will need to let your insurance company know. Not sure about rules in Perth. You'd have to speak to council. CGT- Yes...
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    Buying In Indonesia

    Too true. What is your goal is? For a holiday, to make an income? Either way I would not do it. I personally know more than a handful of people that have lost a LOT of money buying in Indonesia. You have very little rights there. If you buy with a "friend" the friend has all the rights. Be...
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    Advice for Gold coast uppper coomera/pimpama

    Positive Real Estate was pushing Coomera in 2008. They called it Boomera Coomera. What's happened since then? Boom? It sounds like another company pushing properties to us Southerners. Are locals buying there?
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    Will you have a Job in 2025..

    This is so true. At a seminar I attended last year it was said that most of the children will be doing jobs not yet invented. I'll be well and truly entrenched in retirement by then. :D
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    If there are no BIR's, is it worth installing wardrobes in every room?

    I wouldn't do every room but the main bedroom definitely needs a wardrobe. If you are handy you can buy second hand mirror robes on Ebay. Just make sure they have all the tracks as they are expensive. And check the height. The width can be adjusted a bit. I think your idea is all right in a...
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    Sydney "Farewell to Somersoft" Meetup - Bull & Bush Hotel (Baulkham Hills) 27th June

    I only just saw this now ( flat out planning holidays:p). Unfortunately I can't make it (fist day of school holidays). :D I can't believe that this is the third thing that has come up for this date. We should have planned to leave a day later. :rolleyes: Have a great time everyone.
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    housing commission

    Use googlemaps street view and look for lounges on the front porch. :eek: Just kidding. If you know someone with access to RP data you can look them up. I no longer have access but when I did I always looked to see how many HC houses were near a property I was considering.
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    Uh oh. I've done another green DIY kitchen

    I love the retro look but $5,500 is a lot for that size kitchen. Or did that include him doing the complete fittout? I would have thought with all of your contacts here you would have used one of the kitchen mobs that others use.
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    Clueless unsupportive mother

    Great point. My mum asks occasionally but doesn't get it. When she asked what my cashflow was a couple of years ago. She said "you might as well just get the pension". Sigh!! I explained that I could sell a couple of properties and retire now but from what she has said to my brother she thinks...
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    Is Right Property Group a right property group to deal with?

    I find it hard to believe that you have bought from them and have never heard of their "blueprint". They have been offering it for years and mention it at most meetings. As a beginner I thought it was good, although quite generic.
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    My first reno

    Well done. They certainly loved colour. Neutral is the way to go. Looks great.
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    Renting villa to your mum.

    That would be better as otherwise the OP is paying tax on $300. So Daniel I would get mum to pay $270 max (as twodogs says- that would be OK to call market rent). Glad you give your mum gifts.:D
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    How much do you spend a year (living expenses)?

    I did it for 12 months just to see how much we need to live on (retirement planning :D). We needed $35K to live on but that was for 8 1/2 months as I was overseas for 3 1/2 months. My travel budget for the 3 1/2 months however was $20K.:eek::D Scary but SO worth it. We have no personal...
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    Richard Feyman on 7:30 report

    Well done Steven. I'll have to get your autograph at the next meeting. :D
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    Defining wealth

    A wealthy person is one who is happy with what they have and with what they do in their day to day life. Isn't that what we all want?
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    buying a house with tenants living there with out a lease

    That's not right. A periodic lease is when there was a lease and it ran out. Then it converts to a periodic lease. If there is no lease in the first place then there is no type of lease. I nearly bought a place with a tenant in place with no lease. Someone I know bought it and it took them...
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    Goal is to live off rent in the future how?

    I think you are over estimating the $5k cashflow. You need to include interest, insurance, rates, management fees, maintenance. You would have to be getting at least 6% yield. Where are the properties getting $460 a week rent for a $400K property?