Real Estate investing

Non-fashion, non-skirt, non-gender discussions. If your post is related to fashion, skirts or gender, please choose one of the forums above for it.
Freedomforall
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Real Estate investing

Post by Freedomforall »

I am wanting to see what the interest would be in starting a discussion about real estate investing. If there are any members either active, or contemplating investing please let me know.

DJ
6ft3Aussie
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Re: Real Estate investing

Post by 6ft3Aussie »

Hi Freedomforall,

Yes, myself and my wife are interested in investing in real estate, which is quite a science in itself.
Lots or research required in areas, suburbs, demographics etc, and also financing structures, trusts, caveats on titles, tax....

Currently the only property that we own is in the Philippines, and it's covering it's costs, except for property tax and body corporate costs, which compared to Australia, is good value.
Where property, in Australia, on average, doubles in value every 10 years or so, long term investment in real estate has the potential to provide you with a good passive income into retirement.
Freedomforall
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Re: Real Estate investing

Post by Freedomforall »

6ft3Aussie wrote:Hi Freedomforall,


Currently the only property that we own is in the Philippines, and it's covering it's costs, except for property tax and body corporate costs, which compared to Australia, is good value.
Where property, in Australia, on average, doubles in value every 10 years or so, long term investment in real estate has the potential to provide you with a good passive income into retirement.
Sounds like Australia is the place to invest. We started in 2005 investing. Our first was a fix-and-flip. We then bought 4 properties for buy-and-holds as rentals. We are currently working on a major rehab in the Nashville, Tennessee area. The lady was a hoarder and all sorts of creatures dwelled with her.
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Fred in Skirts
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Re: Real Estate investing

Post by Fred in Skirts »

And what does this have to do with Men wearing skirts????
"It is better to be hated for what you are than be loved for what you are not" Andre Gide: 1869 - 1951
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Freedomforall
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Re: Real Estate investing

Post by Freedomforall »

Nothing...lol. That is why it is in the off topic...just trying to network with more like minded people.
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Fred in Skirts
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Re: Real Estate investing

Post by Fred in Skirts »

Freedomforall wrote:Nothing...lol. That is why it is in the off topic...just trying to network with more like minded people.
I have never tried real estate investing other than the fifty acres I own in a life estate that will go to my daughter at my death. I am lucky that it is all paid for and the taxes are all most nothing (around a $100.00 per year.
"It is better to be hated for what you are than be loved for what you are not" Andre Gide: 1869 - 1951
Always be yourself because the people that matter don’t mind and the ones that mind don’t matter.
Freedomforall
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Re: Real Estate investing

Post by Freedomforall »

Wow Fred, that is a seriously good tax rate.
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oldsalt1
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Re: Real Estate investing

Post by oldsalt1 »

Don't want to be rude but can you network someplace else. There has to be a million blogs about real estate investing and not one of them mentions men in skirts
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denimini
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Re: Real Estate investing

Post by denimini »

oldsalt1 wrote:Don't want to be rude but can you network someplace else. There has to be a million blogs about real estate investing and not one of them mentions men in skirts
We could post an off topic in a real estate forum to ask how many men were interested in wearing skirts - now that would be interesting :)
Anthony, a denim miniskirt wearer in Outback Australia
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Sinned
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Re: Real Estate investing

Post by Sinned »

The government has really killed the private landlord business in England, unless your property is held in a limited company, with what's called Section 24. Normally in business you can deduct most expenses from income to produce a gross profit. Except in the case of the private landlord where claiming interest on a property mortgage will not be allowed resulting in all the income from rents being classed as profit. This potentially could push landlords into higher tax brackets. Immoral it is since the change doesn't affect limited companies. Of course, at the same time, the chancellor changed the rules about Capital Gains calculations on property transfers into limited companies. So a double whammy. It's still possible to transfer to a company wrapper but it has to be done in a specific way and, naturally, is technical legally. Of course rents will rise and homelessness will occur as landlords evict and sell the properties. Such is government mismanagement. I'm glad that I got out of property rental before all this happened. [0] So development and sale is the only way to go at the moment.

[0] I had 2 properties rented out of which only one had a mortgage. I sold the one with the mortgage.

Another policy that is having unintended consequences. The government put the onus on landlords to check that the prospective tenant has the right to UK residency to stop illegal immigrants being housed, thus forcing them out of the country. One problem is that the landlord will take the path of least resistance and refuse to rent to anyone who doesn't have a UK passport. A landlord doesn't have to give a reason for refusing to rent to someone so cannot be accused of discrimination as nothing can be proved. Of course with Brexit Europeans will come within the scope of this in a couple of years time. There is a pending court case saying that this law discriminates against foreign workers, which it does. But there's more. Forces personnel stationed abroad for a long period often rent out their homes here whilst away and, you guessed it, they are now being brought into paying higher taxes as a result.

As has been said before, you just couldn't make this all up and is the result of rushing legislation through without an in-depth analysis of all the possible ramifications.
I believe in offering every assistance short of actual help but then mainly just want to be left to be myself in all my difference and uniqueness.
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Kirbstone
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Re: Real Estate investing

Post by Kirbstone »

Practically everyone on Ireland still has seriously burnt fingers following the almighty crash in 2008, which beggared the entire State. Some ten years later the flavour of property is sweeter and people have begun to dabble again.

For my sins I sank every penny into UK Public School fees X four, leaving absolutely nothing surplus to dabble with.

Meanwhile the Revenue pit-bulls see to it that I won't be buying a tropical island anytime soon.

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Freedomforall
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Re: Real Estate investing

Post by Freedomforall »

Kirbstone, Sinned, Thank you for letting me know I am not the only "Man in a Skirt" that invests. I wasn't trying to offend anyone by posting in the off topic section. My intentions were to open myself up to others in the forum to get to know more about each other. I was hoping to build stronger friendships with people on the board. I know that we all have other interests and hobbies. I want to get to know everyone as much as possible. I recall one of us would post pictures of train sets. I don't recall who, but I enjoyed looking at them.
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Kirbstone
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Re: Real Estate investing

Post by Kirbstone »

Garden train sets....Mugman.

Tom
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moonshadow
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Re: Real Estate investing

Post by moonshadow »

As far as investing goes, what I do is I buy things for dollars and sell them for nickels.

My role in the financial picture of society at large, is I, and people like myself are what make the economy work. It's people like me that keep it from crashing under its own weight. When you think about it, in a major economy, there must always be more losers than winners. You can't just move money from side to side and make it grow magically for EVERYBODY... somebody has to get the shaft...

That's where I come in.

Seriously, I had my little experiment with investing. I learned pretty quick that I don't have the chops for it. So these days I endevour to be happy with my weekly earnings, buy a few nice trinkets once in a while, and work to get my home paid off someday, hopefully... All the while, I plan to travel as much as possible.

So be kind to my kind... and throw us a bone once in a while if you don't mind... we're the ones that make your riches possible...! :mrgreen:
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The old hillbilly from the coal fields of the Appalachian mountains currently living like there's no tomorrow on the west coast.
Freedomforall
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Re: Real Estate investing

Post by Freedomforall »

Moon I appreciate you. I think you are a very talented person and don't always give yourself credit. I will say that I try and throw "bones" as much as I can. I always lend a hand to as many people as I can. It is often I find myself having a hard time saying no to others and being taken advantage of.
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