Brenda Irwin on a Current Affair
- Thread starter Brenda Irwin
- Start date
Brenda, glad to hear you are still driving an old car. I was looking at upgrading my 85 astra to a 1 tonne tray back to deal with all the renos I hope to get around to. But will now draw smug prestige from driving my little bomb around for another year or two. 
My goal is to park my bomb in between all the BMW X5s and Mercs at the local shopping centre, and feel smug that my money is appreciating as fast as their cars are depreciating....
My goal is to park my bomb in between all the BMW X5s and Mercs at the local shopping centre, and feel smug that my money is appreciating as fast as their cars are depreciating....
Poor Astroboy, you sound like you're worn out from all the research and learning you are doing. I get like that too.
All our properties are jointly owned between Les and I.
They are all crosscollat with the one bank, NAB.
They are all on 30yr P&I and on variable rates with a reference rate in place.
We have a $300 limit (not a misprint) on our bankcard. If we want more money we just prepay the bandcard.
We try be at least one months extra repayments ahead with loans, so if we need a lot of cash (esp at council rates time) we can stop payments for that month.
We have a will lodged with our solicitor so if one of us goes, they surviving partner assumes the lot.
All properties are covered with $10 million public liability insurance and Landlords Protection Insurance and building insurance.
See, tis simple. Cheers Brenda.
I get like that too.All our properties are jointly owned between Les and I.
They are all crosscollat with the one bank, NAB.
They are all on 30yr P&I and on variable rates with a reference rate in place.
We have a $300 limit (not a misprint) on our bankcard. If we want more money we just prepay the bandcard.
We try be at least one months extra repayments ahead with loans, so if we need a lot of cash (esp at council rates time) we can stop payments for that month.
We have a will lodged with our solicitor so if one of us goes, they surviving partner assumes the lot.
All properties are covered with $10 million public liability insurance and Landlords Protection Insurance and building insurance.
See, tis simple.
Cheers Brenda.
Brenda
I'm new at property investing. Some would say I've got in too late; time will tell or hopefully, time will heal all!
You've certainly done well. There was a question somewhere above about land tax. I can't remember the limits but I imagine you'd be well over. Is it a big problem for you?
Thanks for all your advice.
I'm new at property investing. Some would say I've got in too late; time will tell or hopefully, time will heal all!
You've certainly done well. There was a question somewhere above about land tax. I can't remember the limits but I imagine you'd be well over. Is it a big problem for you?
Thanks for all your advice.
Land tax not a problem yet. Les and I have not hit the threshold yet. I think the level is something like $221k each for joint owners.
Current ULV's: $4,200 + $17,200 + $23,000 + $23,000 + $15,200 + $25,000 + $28,000 + $21,000 + $3,200 + $29,000 + $4,200 + $3,200 + $5,500 + $3,200 + $29,500 + $34,000 + $27,500 + $3,200 + $5.500 + $4,700 + $3,800 + $4,400 = $317,500
Divided by two = $158,750
Which land tax only being billed from $221,000, we have a ways to go yet.
Divided by two = $158,750
Which land tax only being billed from $221,000, we have a ways to go yet.
Jazper, how about these on your bomb:
"I coulda bought a BMer, but my wife made me buy a beachfront property before the boom instead."
"It was a Merc OR this and a beachfront unit."
"The ex kept the BMer, I kept the investment properties"
"I coulda bought a BMer, but my wife made me buy a beachfront property before the boom instead."
"It was a Merc OR this and a beachfront unit."
"The ex kept the BMer, I kept the investment properties"
Brenda, does the UCV on RP Data always match what's on the council rates notice with your properties?
I do not access RP data so I wouldn't know. Sometimes council rates take a quarter before they assess on the new ULV but most times they are the same.
