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  1. Watermelon Man

    I HATE MONEY!!! All It Does Is Cause Strain & Stress!!!

    I NOW HAVE A PLAN! Thanks to Everyone For Their Comments To My Dilemma I hate money!!! I struggled in my old job earning $33,000 paying off my own place. Now I earn double that ($65,000) in my new job; bought 2 more properties this year & still struggle...what has happened...bloody nothing...
  2. Watermelon Man

    Land Price In Redlynch Valley, Cairns Up 45% in 1 Year & Still Going!

    The land price in Redlynch Valley in Cairns has gone up 45% in 1 year & still going! Yippee! Went from $120k to now $175k. Anyone else seen huge jumps like this?
  3. Watermelon Man

    When Buying An IP, How Important Is The IP's Age RE: Depreciation Benefits To You?

    Hello, Just went to an Investment Seminar Monday night & then did a one-on-one interview with the presenter's assistant today. They recommend only building an IP on land (ie: House & Land package) as in the "Land Appreciates, Buildings Depreciate" mantra; therefore to also take advantage of...
  4. Watermelon Man

    How to Refinance Loan for Pensioners (60+) with PPOR in Country Town??

    Hello, I wondering if any of the Mortgage Brokers can help out here. My Folks have a house in Greenvale, QLD (4816) with a $13k home loan, outstanding rates of about $6k, as well as a $30k business vehicle loan, & are finding it difficult to refinance their loan & consolidate bringing their...
  5. Watermelon Man

    Are Any Of These Expenses Tax-Deductible?

    Hello, Just getting my tax return ready for my Accountant; but personally I just wanted to know if any of the following expenses are tax-deductible: :confused: Purchasing Costs Solicitor’s Fee (incl. searches, etc) Stamp Duty on property Valuation Fee Lender’s mortgage...
  6. Watermelon Man

    Is This How You Calculate A Tax Return?

    Hello, Is this how you calculate a tax return? 1) Gross Income: (Eg: $65,000) 2) Add Rental Income: (Eg: $1,960 - 8 wks) Add 1) & 2) = 3) Total Gross Income: $66,960 4) Total Tax Payable on 3) Total Gross Income: (Eg: $15,692) 5) Total Work Deductions: (Eg: $6,250) 6) Total...
  7. Watermelon Man

    Why Tenants & Landlords Are The Way They Are? The Tenant vs. Landlord Debate

    Over 11 years working in the R/E industry & having visited hundreds of rental properties; I found that 99% of the tenants kept the place in an untidy condition; both inside & out - didn't maintain or look after the interior of the home, gardens, pool, etc. Therefore I used to think that...
  8. Watermelon Man

    Anyone Used MECU for banking, credit cards, home loans, etc?? Good Choice?

    Hello, Looking at getting a credit card & noticed on Rate City that MECU have the lowest credit card rate at just 8.49% & annual rate of $59. I'll be mainly using this card for a large cash advance of around $20,000 to pay out some loans for my folks. 2nd on the list is BankWest; yet cash...
  9. Watermelon Man

    What's the Scariest Thing You've Seen??? (That sent shivers up your spine!)

    :eek: Ghost sightings, scary houses, UFO sightings, your EX coming up the driveway after you've done something wrong!!!! :D
  10. Watermelon Man

    Put & Call Share Trading - Quick Definition Required

    Hello, Talking to a couple recently they spoke about being involved in Put & Call Share Trading whereby they never own any shares & receive around 15% per month return (yeah I know a lot), said something like if the market goes down they always have a buffer there so that they don't lose...
  11. Watermelon Man

    Why Does An Owner Of A Residential IP Pay Rates, But A Commercial IP Owner Doesn't?

    Hello, Not sure if this is in the correct topic area, but here goes. Someone I know recently bought & sold 3 commercial properties side-by-side & said that they didn't pay any council rates on it; & when I asked why, he said: "...just because it's commercial property". So why does a...
  12. Watermelon Man

    Is This The Cheapest House In Australia???

    I thought it would be interesting to find out what price a house on a block of land would start at in each state in Australia - found these doing a quick search on www.realestate.com.au - not relocatables, or house only for sale, or cabins - real houses on blocks of dirt. Has anyone else seen...
  13. Watermelon Man

    Does A IP Really Only Cost $33 Per Week??

    Hello, I'm not trying to run down PIA Software or anything, but a friend of mine who put his brand new unit figures, etc into it came up with that the unit was only going to cost him $33 per week (at end of financial year) - around $200 per week to service the loan now, but at end of...
  14. Watermelon Man

    What Do You Hope To Achieve By Investing? What's The Point Of It All For You?

    Why invest? What do you hope to achieve at the end of the journey (if there is an end) or along the way? What the point of it all for you? I shouted my finance broker lunch yesterday for getting my recent property purchase deal together (beautiful setting on the waterfront) & we got talking...
  15. Watermelon Man

    On average, how many days/weeks vacancy do you have each year on your IPs?

    Not sure if this is the correct category forum to discuss this topic; but anyway. At Market Rent, obviously it's possible to achieve 100% occupancy & no vacancy; but what are ways to achieve this? I mean do you have to have a fully renovated home or brand new home in the most sought-after...
  16. Watermelon Man

    Buying & Selling Quickly - Is The Worth The Effort To Make Money?

    Hello, Tried to search for other threads relating to this but couldn't find any - only on flipping through Put & Call options. The Buy, Renovate/Refurbish a little, Sell option - do you think it's worth the effort to make money this way in the rising market we have now? Does anyone...
  17. Watermelon Man

    If You Watch Tv, What Are Your 2-3 Favourite Tv Shows??

    Me - I love Boston Legal with William Shatner & James Spader as well as watching Chaser's War On Everything - Stacks Funny!! I don't know how those guys get away with some of the stuff they do - no shame at all & so persistent! :D
  18. Watermelon Man

    What Would You Like To Be Remembered For After You Die?

    OK, not to sound morbid here; but instead more inspiring I guess. :) You're laying in the coffin at your funeral - What would you like to be remembered for? What would you like people to be saying about you to each other or to others about who you were as a person, etc? Me - I'd like to be...
  19. Watermelon Man

    If You Could Retire In 10 Years Time, But Had To Live Like A Miser Would You Do It?

    Looking at tonight's new TV show: "Things to do before you die" from the Getaway team - it got me thinking about LIFE in general...things I'd like to do in my life other than just invest in property & shares & build up this investment portfolio so that some time in the not-so-distant future I'd...
  20. Watermelon Man

    Do You Think Interest Rates Will Rise To 8.5% Or Higher In The Next 3 Years???

    Hi Everyone! Just fixed both my IPs for 4 years, because I think interest rates will increase to around 1-1.5% over the next 3 years to try & slow down the big spending across Australia in varied areas obviously such as real estate, retail spending, etc. At the end of 3 years I believe...
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