So...what are you doing right now???

[HomeBuyAU]

And that's when you comment on what you are doing...

OK THEN...

now: just watched Californiacation & now watching Origins of Surfing in Australia while working on my laptop. Just had my dinner and have still to wash up the rest of my dishes but enjoying the drink first... As for Property, waiting for IP settlement in mid Jan on unit in Newcastle and then I'm off to a tropical island for 6 months.

 

[cu@thetop]

Playing Battlefield Vietnam on Game Arena. Blew up 2 helos on the mid spawn in Op Hastings using explosive packs

I'm chuffed.

Occasionally I also work on my law practice..................

 

[Ausprop]

but building new houses to sell or rent is pretty cheap, very high profit margin and doesn't need as much hands-on work as renovating so I know where we're going

true but the punitive taxes (GST, no CGT discount etc) on new builds (and trading generally) takes the gloss off things

plus getting a bank to lend on land at the moment is akin to asking the colonel what his secret recipe is

 

[Mike F]

not planning to buy another IP this calendar year.

That good, as you only have about 15 hours left if you were going to buy one this year

 

[HandyAndy888]

plus getting a bank to lend on land at the moment is akin to asking the colonel what his secret recipe is

Ha ha ha ha...got to love KFC....

Just check out my blog!!!

 

[RumpledElf]

true but the punitive taxes (GST, no CGT discount etc) on new builds (and trading generally) takes the gloss off things

plus getting a bank to lend on land at the moment is akin to asking the colonel what his secret recipe is

I figure if there's close to 100% profit in it there's room for gloss to come off We only need to do this 2-3 times to get the money we need to do what we want, maybe even less than that. Our goals are not as lofty as some on this forum, we simply want a subsistence level passive income and property seems by far the fastest way to get there.

Finance is going to be our issue this year. Land will be debt free. Still have no idea how to get the loan to build the house. Probably sell and live in a tent while it is being built, or pick up that positively geared cheapie in the next town. Maybe another house will turn up for sale that is even better. Still got most of the year to work that one out. Heck, we may actually get to the end goal THIS year

 

[bojangles]

Next move

Bought two last year ('09). Got around 70K in LOC .hmmm what to do....?

 

[HandyAndy888]

Bought two last year ('09). Got around 70K in LOC .hmmm what to do....?

Buy again if cash flow permits...

 

[bojangles]

Next move

Buy again if cash flow permits...

I'm seriously thinking about looking for a highly CF+ IP that could cover the holding costs of the 2 I bought.Now this would most probably mean next to no CG but if the end result is CF neutral or close to, I would be happy....