How Many IP's Do you have?

[AUSPROP...]

I'm hearing your experience come through loud and clear on that one GC. Nice one.

sold any resi yet? or still can't bring yourself to pull the trigger?

these are joyous days, watching resi IPs fall in value whilst moaning tenants whinge about the high cost of renting... flipping the ragged landlord a coin or two when they find it in their hearts to do so

 

[Dazz]

sold any resi yet? or still can't bring yourself to pull the trigger?

Not yet Ausprop. I've calculated that the CGT simply isn't worth it.

The shutters have been lifted somewhat and I am resigned to the title deeds being used to act as deposits for acquiring decent investment properties - ones that can stand on their own with quality Tenants and quality long term cashflow streams.

At that point, the equity has been utilised without incurring large selling and tax costs and therefore the decision to sell or not becomes redundant. Does that make sense ??

 

[HotRod]

We're kind of like guys in a public toilet, comparing each other, with sideways glances.

Wife and I have 4, about to settle on #5 with an offer down on #6.

Of those, one is being subdivided, one is a duplex on one title and another is student accommodation with 6 rooms, so it sort of will feel like 9.

Anyway, it's not the number that interests us but the free money every month. Once #6 gets settled it's about $10K ever month after tax in our pockets compared to about $8K now.

Just a shame the wife won't let me retire.

 

[Dazz]

We're kind of like guys in a public toilet, comparing each other, with sideways glances.

That's the most disappointing part about the sport we play here Hotrod.


If we were boaties or golfies or artists, we could all casually sit down amongst strangers and have frank discussions about the characteristics of our boats / clubs / paintings......unfortunately the game we all play here on this forum involves money....but not just money, it's the volume of money that encroaches on polite conversation.....so much in fact that it starts to affect the private decisions and family circumstances.....that's the bit that makes it so hush hush.


That's the bit that makes it uncomfortable amongst strangers.....and that's where this lovely anonymous forum provided by the Somers comes into play. Would you agree ??

 

[HandyAndy888]

That's the most disappointing part about the sport we play here Hotrod.


If we were boaties or golfies or artists, we could all casually sit down amongst strangers and have frank discussions about the characteristics of our boats / clubs / paintings......unfortunately the game we all play here on this forum involves money....but not just money, it's the volume of money that encroaches on polite conversation.....so much in fact that it starts to affect the private decisions and family circumstances.....that's the bit that makes it so hush hush.


That's the bit that makes it uncomfortable amongst strangers.....and that's where this lovely anonymous forum provided by the Somers comes into play. Would you agree ??

Great post...well thought out statement...

 

[Cherry Pro]

Originally Posted by TPFKAD

That's the bit that makes it uncomfortable amongst strangers.....and that's where this lovely anonymous forum provided by the Somers comes into play. Would you agree ??


I think money talk is more uncomfortable around friends than around strangers. But the anonymity that this forum offers is great.


Originally posted by HotRod

Anyway, it's not the number that interests us but the free money every month. Once #6 gets settled it's about $10K ever month after tax in our pockets compared to about $8K now

Hot Rod - $10k pm in your pockets, is fantastic !


We have 4 :

furnished 2 bedder, Sydney
4 bedroom house on quarter acre block with DA in place, Melbourne
3 bedder duplex, Adelaide
latest purchase - dual occupancy, 2 bedder + 3 bedder, Sydney

Our next purchase in a year's time will be a suburb of Brisbane.

 

[quoll]

Sold 1 at the end of last year, sold 1 at the start of last year. Will sell 2 this year.

Currently got 2 IP's (4 houses), PPOR, 2 business. The goal is 20 IP's all newish, within the next 10 years.

But that could change as we grow and learn. The Goal is passive income of $100k / year, working 3-6months per year. Ability to drop everything and go away with out the beast dieing.

Cheers
Graeme

 

[Francesco]

I guess there are 7.5 IPs (one being joint with a relative) and not counting PPOR that is rented out.

Let's see what the banks can lend to move in the future for more IPs. Being retired, the potential candidate must be in reasonably good condition with good prospects and serviceability. Is it too much to ask?

 

[handyandy]

Anyway, it's not the number that interests us but the free money every month. Once #6 gets settled it's about $10K ever month after tax in our pockets compared to about $8K now.

Its always about the money

Did you mean gross? As your figures are very good if that number of properties give you $8-10k income. Maybe I am not understanding your terminology or they have massive rents and no mortgage.

Cheers

 

[eggnog]

its not the size that matters but how you use it

 

[Rixter]

its not the size that matters but how you use it

thats what all the under developed men say

 

[HotRod]

Its always about the money

Did you mean gross? As your figures are very good if that number of properties give you $8-10k income. Maybe I am not understanding your terminology or they have massive rents and no mortgage.

Cheers

That's net.

We've bought them over time, so yes, they have small mortgages with massive rents or in case of the latest, still CF+ to the tune of $30K each. Good whilst the rates are low and probably remain so when rates go up and rent adjusted accordingly.

Even if we do take a hit with 3% higher rates and no rent rise, with the gov't family tax payments kicking in as income drops we've still got $7.5K net in our pockets per month.

So no down side.

 

[eggnog]

thats what all the under developed men say

hahaha. You and your dirty mind Rixter . tsk tsk. I don't recall mentioning anything about under developed men . I was just replying to a thread about sizes of portfolio's and how size has no real relevance

 

[Rixter]

I was just replying to a thread about sizes of portfolio's and how size has no real relevance

Size does matter then.....the bigger the better!

 

[Buying_Freedom]

Hubby and I currently have 7. Like you, tbinvestor, I started when I was 23 with 2 properties. Fast forward six years later and it’s been very interesting to watch them grow in value. I could never have saved the amount I’ve made from property the old-fashioned way in a bank account.

I think you’ll do very well if you keep it up because you have time on your side

 

[skater]

I don't have enough.

I have a serious addiction that needs feeding. We have some in Western Sydney, some in South West Sydney, some Regional and one solitary little house in VIC. Sold some duds and have just bought a new PPOR.

 

[mandystoj]

We're kind of like guys in a public toilet, comparing each other, with sideways glances.

Wife and I have 4, about to settle on #5 with an offer down on #6.

Of those, one is being subdivided, one is a duplex on one title and another is student accommodation with 6 rooms, so it sort of will feel like 9.

Anyway, it's not the number that interests us but the free money every month. Once #6 gets settled it's about $10K ever month after tax in our pockets compared to about $8K now.

Just a shame the wife won't let me retire.

Haha You sound like my dad in a way. You should keep going for your kids so they have more!! ATM from investments he gets 19k per month (not sure after tax and expenses) and he try's to tell me that once we start building our duplex his income will be lower, coz we knocking down one hous (therefore no rent from it, till duplex is built where it will increase 3 times the rent from the house anyways).


My parents have had alot of investment properties, but at the moment
they own a block of 10 units(is that 1 ip or 10, I always thought 10), house (but
knocking it down and building duplex), 100hectare farm, another house which he is a share partner (20 men put cash in and bought a multi million $ house hopeing to sell and buy bigger and sell bigger ect etc).

He owns them all outright and no loans.

 

[Ridin-High]

That's net.

We've bought them over time, so yes, they have small mortgages with massive rents or in case of the latest, still CF+ to the tune of $30K each. Good whilst the rates are low and probably remain so when rates go up and rent adjusted accordingly.

Even if we do take a hit with 3% higher rates and no rent rise, with the gov't family tax payments kicking in as income drops we've still got $7.5K net in our pockets per month.

So no down side.

Hot Rod, i hope to be in your position one day. Good motivation to keep going for me.

Doing the hard slog at the moment, only young (22) got 2x Resi IP's, highly geared, learning the ropes for commercial IP, financing is an issue but i'll get their.

Regs,

RH