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Hi Farone, In regards to a Tax Depreciation Schedule isnt that only for newer houses and for new units. My house is older 40 years old. Some of the reno's are new though. I will have to look into the 221D but from memory isnt that the form that you fill in so that you can get the tax rebates...

update Hi Guys, Its me georgesa... My property is now worth even less. After 18 months I have decided to take it off the market. The last offer I got was 305k. Much less than the 350k i payed for it when it was un-renovated. Anyway like some people said, its not a loss untill you sell it. It...

Hi Kenneth, When i initially rented out my place i was getting 240 gross. Then after commision was taken out i was ending up wth a bit less. However around 7 months ago I rented the place out to my relatives who now pay me only 215 a week and I am actually a little to embaressed to increase...

mmmm Hi guys, I will ultimatly make the decision myself and although everyone has given me excellent valid opinions the final decision will depend on my current situations and the goals that I hope to achieve from my investement career... I understand I have taken a big hit during the...

Hi Bruce, I have already explored all avenues. Subdivision is out of the question..(12m wide block) My advertising style which i have asked agent to use is a very honest approach. There is nothing to hide and I did have the property rented for 240 so this the add should say potential...

Hi Kenneth, Does it really matter when i sell? If i make a 100k property and then buy another house then the other house will be worth 100k more anyway. So if i sell and buy in the same market then i have not really lost yet untill I sell the second house. Do you see my point? I believe...

Lets see what happens now, I have now changed Agents. This agent believes he can sell it for me. It feels good changing agents. A change in agents is always good as it brings a new fresh outlook on the property. I negotiated the selling fee to 2.2% including GST. I also said that if it...

twist Hi, As you all know I bought it for 346k and spent money on it for reno, stamp duty etc... I dont know if i mentioned it but there was another house on the same side of the street as me but closer to the housing commision that was also for sale. His house was a 2br also but it was...

GeorgesA since joinging this Forum has read two books on IP wealth creation etc, I have been fortunate enough to have listened to all your opinions and suggestions. I have also had a very kind forum member send me the forecasting calculator and I have used it religiously to forecast different...

Hi Andreas, This is true, I am currently looking at changing agents as well. I have taken it off the market and am considering putting it back on for sale this spring. I will let everyone know how it goes. I will probably go exclusive with one agent and also bargain down the percentage for...

I am certainly not thinking the same way as i did before the start of this discussion. For starters I feel like I have so many more options now, I am now using forecasting thanks to a very nice forum member who sent it to me in order to model certain future scenarios. I know see my property...

Hehe not 50k 30k including honeymoon Tradition has it that I have to do a big wedding Should get some $$ back in gifts so that means around 20k Georges

Thats fine Kenneth but just to let you know since yesterday i have purchased a book by jan sommers and rich dad poor dad.. MY attitude was light hearted but thats because during the boom a monkey could make money on a property.. You didnt really need to be an expert back then!! if you bought in...

pics of d house http://www.somersoft.com/forums/gallery/showgallery.php?cat=500&ppuser=5405 Thats the one!!! the inside is fully renovated

heheh hehehe that was funny.. Thanks investor.. On a totaly differnt note. I think telstra is good to buy now since the governemnt will only sell at 5.25 hence I think its only inevietable that they somehow find there way to that figure before privatisation..... who knows

thanks :) Thanks for your thoughts Kenneth. I will be looking into all your suggestions further. I will update you guys soon, in the meantime i shall be browsing the forums and reading some books... This thread was very beneficial for me and im sure many others. I have actually printed it...

Thank you Kennethkohsg, The problem i used to find with these books is they operate on the assumption that all houses are worth 150k.... Not good these days considering average sydney house price is 500k Cheers Georges

In response to the set of questions posed to me by KOH: 1. What are your own figures and real losses (plus new investing costs) if you were to proceed with the "Sell with the loss" option and subsequent re-invest again? I cant really work this one out as i dont know exactly what i am...

re The First Bruce This is so so so so true.... in my case anyway...

situation is this Well in regards to my situation; 1. I pay around 550 of my income per fortnight into this loan. This is about 25-30% of my pay. 2. I have around 35k saved for something else ( this money is sitting in the redraw.. i know i should have got the offsett- homepath doesnt...