tears and frustration!!

GEE! whiz, i have beaten my head over and over , my other half gets nothing i say about IP's she gets her tax back and the notice tells me she paid 17k in tax , we have about 500k in equity, and her husband is a builder , SIGH" what should i do, ???
 
thanks for the laugh , perhaps someone should talk with me , and tell me to stop aiming for the stars , stop trying so hard , and property sucks, :rolleyes:

NOT!!
 
Hang in there Craig,

I can imagine your frustration as I know you have been working really hard at this. You have really created some beautiful properties and she is a lucky woman!:)

Regards JO
 
Craig, property is awesome !!!! talk to all of us here, we understand :)
I do sympathise, my partner is not really into property but will fully support me and is willing to buy property with me and and even do developments if we get the chance.
 
Best of luck with it. Enjoy the gorgeous property you've built and the man cave you put in (told Hubby about that - he's very jealous!)

You can only slowly work on them bit by bit - you never know one day she may shock you!
 
Craig,

Have you tried making up some big colourful charts showing the massive contrast in where you'd be financially 20 years from now by (a) sticking to your guns and making a go of this property investing lark, or (b) just . . . gardening?

My own better half is SO risk-averse that every time I propose another small step forward, she almost gags. The easy remedy for this I've found is to print off the spreadsheets to show her that (a) the new debt is backed by a new income-earning asset and (b) we'll be free of this working life so much the sooner. At least until the next investment proposal . . .

Some people aren't motivated as much by the journey as by the destination, so perhaps that's something that might work with your partner?
 
Craig, property is awesome !!!! talk to all of us here, we understand :)
I do sympathise, my partner is not really into property but will fully support me and is willing to buy property with me and and even do developments if we get the chance.

my partner is exactly the same - you will find in most relationships that one is the leader in certain fields, and the other is the leader in others.

be the leader in property investing.

with my partner i have to put a proposal in writing to him before buying any property as to why we should buy it ... but that keeps me grounded and realistic in a lot of ways. the few times he didn't insist on this, i bought a couple of duds.

other than that - he is not interested in property but is happy to let me have the money to do so.
 
GEE! whiz, i have beaten my head over and over , my other half gets nothing i say about IP's she gets her tax back and the notice tells me she paid 17k in tax , we have about 500k in equity, and her husband is a builder , SIGH" what should i do, ???

What was the question?

Husband is a builder who has beaten his head over and over as his wife doesn't understand anything about IP's that husband has said.

Wife's income tax states she paid 17K in tax (seems high) Does she not have any ownership in IP's.

Husband & wife have 500K equity I assume sitting in their house that hubby built.

Now what was the question again?
Do you want to buy an IP and reduce wife's tax bill OR do you want to build an IP?

My suggestion is if she doesn't understand 'talking' them maybe drawings will help & projections how much tax she can channel into IP.

Or just start off small one unit in a 2x2 duplex


Regards, Sheryn
 
paying 17k tax is nasty as i know how many neg geared properties it will hold, thats why i built this home , for the equity gains , i think i will have to start again, using the business , and saving up my first deposit, i have somthing in the pipe line as i speak, but the 17k tax hurts as it could contribute to a couple of ip's now , thanks guys , :rolleyes:
 
I'd rather pay 500k tax than 5k.

Not sure if paying 17k tax is good or bad thing?

Sorry you are correct Bene as I wasn't clear in my previous post 17K tax seems high as I was thinking why hasn't Accountant advised options to minimise tax due.

Sheryn
 
Hang in there, it gets better with time.

Hubby was not really interested at first, but happy for me to do what I wanted, and sign documents. Slowly, over time, just feeding him small bites at a time, and him actually seeing profit when one was sold, he became more interested.

It got to be a real nuisance at one time, because he would read the forum, under my username, so everything looked like I had read it when I logged on. Eventually he registered too.

Now, he is committed 100%. I still am the person that has the most interest, but he reads the forum, answers posts, talks to agents, renovates etc.

So, just give her time. Lots of it. And maybe leaving some books lying around the place might help?
 
Have you suggested just doing one project to her as a trial run? a smallish one. maybe if you can get her to agree to one and she can see the results then she will feel more comfortable. I guess you would have to promise to manage it yourself as maybe she doesn't feel like she can cope with the stress.

my hubby wasn't really keen at the start but he's pretty happy now that we did it ;)
 
thanks guys , we have had our projects , one was bought for 225k and sold for 375 k within 12 months, the next year, my other half had to pay an extra 12 k tax , we had sold it and placed the funds on our PPOR, she still thinks she earnt nothing fron it????

i tried to explain that we only paid the tax due to the extra income , hence the profit , going to our home , still did'nt get it, as she explained , if we made so much money then why do i have to pay 12k :rolleyes:
 
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