I've just spent £130'000.00 in less than one hour.

Post by **busetibi** » Tue Oct 25, 2005 1:36 pm

Doombrain wrote:He's one of those bitter people who believe renting for the rest of his life will be cheaper.

bwahahahahaha.

so you have no idea what negative gearing is, or maybe your fucked up country hasnt got it.
in a nut shell,
you purchase an investment property,
then rent it out,
say the monthy payments of said investment property costs you
$1800, but you only collect $ 1600 in rent, so your investment costs you $200 per month.
you still with me?

at the end of the tax year, you can then claim $2400 (12x$200) as a loss on your investment, which the tax department pays you because your investment is negativly geared, meahwhile the property has increased in value, so the tenants and the tax department pay for the property, and in say 5-10 years you sell the property which has increased in value but has cost you nothing.
ffs its not rocket science :icon26:

Post by **Dek** » Tue Oct 25, 2005 1:38 pm

my house has went up over $100k in 2 years.

Now, to sell the sumbitch and move north where it's a bit cheaper.

Post by **busetibi** » Tue Oct 25, 2005 1:54 pm

heh, i sold two blocks of land six months ago which i paid A$32k each three years ago, and made an after tax(12.5%) profit of A$275k

Post by **MKJ** » Tue Oct 25, 2005 1:59 pm

so youre the reason why housing is so damn expensive
greedy bastard

Post by **4days** » Tue Oct 25, 2005 2:09 pm

busetibi wrote:at the end of the tax year, you can then claim $2400 (12x$200) as a loss on your investment, which the tax department pays you because your investment is negativly geared, meahwhile the property has increased in value, so the tenants and the tax department pay for the property, and in say 5-10 years you sell the property which has increased in value but has cost you nothing.
ffs its not rocket science :icon26:

pretty sure we don't have that over here.

wish i could persuade the missus that we should sell ours (maybe if i actually tried that'd help

), damn thing's worth 3 times what it cost a few years back. doesn't matter if no-one buys it, just think it should be on the market on the offchance someone's dumb enough to pay the asking price.

Post by **Doombrain** » Tue Oct 25, 2005 2:15 pm

busetibi wrote:
Doombrain wrote:He's one of those bitter people who believe renting for the rest of his life will be cheaper.

bwahahahahaha.

so you have no idea what negative gearing is, or maybe your fucked up country hasnt got it.
in a nut shell,
you purchase an investment property,
then rent it out,
say the monthy payments of said investment property costs you
$1800, but you only collect $ 1600 in rent, so your investment costs you $200 per month.
you still with me?

at the end of the tax year, you can then claim $2400 (12x$200) as a loss on your investment, which the tax department pays you because your investment is negativly geared, meahwhile the property has increased in value, so the tenants and the tax department pay for the property, and in say 5-10 years you sell the property which has increased in value but has cost you nothing.
ffs its not rocket science :icon26:

My partner rents out a house she owns. Paid £90’000 two years ago, pays £460 a month repayments and takes £630 a month in rent. Owned.

Post by **losCHUNK** » Tue Oct 25, 2005 2:20 pm

innit, if you pay like 400 a month for the mortgage you charge higher for the rent

if you charge lower then your a duke

ffs it aint rocket science :icon22:

Post by **Doombrain** » Tue Oct 25, 2005 2:23 pm

ffs it aint rocket science

Post by **Don Carlos** » Tue Oct 25, 2005 2:37 pm

Good game mate
I'll be crashin

See you on the 19th innit!

Post by **Doombrain** » Tue Oct 25, 2005 2:40 pm

Yes mate, should do.

Post by **mik0rs** » Tue Oct 25, 2005 2:47 pm

Damn, won't be around that weekend.

Post by **Turbanator** » Tue Oct 25, 2005 3:10 pm

welcome to some of the most stressful few months of your life. I bought my first property this july, I've only just now "settled", furnishing and shit is a bitch, and loosing a big chunk of your wages a day after pay day is a bitch too.

Post by **Turbanator** » Tue Oct 25, 2005 3:12 pm

still need a fucking coffee table actually...

Post by **Doombrain** » Tue Oct 25, 2005 3:25 pm

lol. To be fair I sign off tonight and get the keys in a week or so. We’ve got a few hi-lux's with large trailers at our farm and I’m paying some of the hands to help with the move. I might even be away when the move takes place. lol.

Nothing better than owning your own place

Post by **shaft** » Tue Oct 25, 2005 4:05 pm

Post by **Doombrain** » Tue Oct 25, 2005 4:06 pm

Jesus shaft, i must of really owned you, lol.

Keep it in R&R please kid

Post by **shaft** » Tue Oct 25, 2005 4:07 pm

Post by **Doombrain** » Tue Oct 25, 2005 4:09 pm

Might ban you from mric later. lol.

Post by **shaft** » Tue Oct 25, 2005 4:12 pm

Post by **dzjepp** » Tue Oct 25, 2005 4:37 pm

Sorted mate.
Might drop by for some lager on the 19th innit.

Post by **Doomcore** » Tue Oct 25, 2005 4:37 pm

Doombrain wrote:2 bedrooms innit.

might pop to newport in nov for a pint as i've got a meeting in Bristol on the friday.

:icon28:

2 bedrooms for 130000 pounds...??? :icon27:

Man, my father spend 75000€ on brand new house with 6 bedrooms and 1 big living room.... :icon30:

Post by **MKJ** » Tue Oct 25, 2005 4:40 pm

houses in poland dont count, dude

Post by **Doomcore** » Tue Oct 25, 2005 5:44 pm

I am not from Poland....but I am sure my house is not wooden like those in USA....

And it's actually very nice and big....middle high class.

Post by **dmmh** » Tue Oct 25, 2005 9:36 pm

yeah always wondered why people would build houses out of popsicle sticks in a hurricane prone area

Post by **plained** » Tue Oct 25, 2005 9:41 pm

we use wood type products around here.

on top of cement basements.

seems ok