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  1. #61
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    Quote Originally Posted by delirium View Post

    Ultimately renting out and NG is a sweet deal, or people wouldn't do it. Why rent out your house if you aren't getting significant gains?
    Cos sometimes you have to up and move but selling is not a good idea.

    Cos sometimes you need to downsize temporarily.

  2. #62
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    good point to whoever pointed out that the LL resist rev rewards but that the other side of the coin is they also bear the risk (which I think many people like to overlook).

    poor tenants, rent not paid in time/at all, unforeseen repairs & maintenance, financing costs and costs of acquisition etc. plus the risk that their property may decrease in value rather than go up as everyone assumes.

    there needs to be some incentive for investors to take this risk on.

  3. #63
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    Quote Originally Posted by Janesmum123 View Post
    I'm going to be blunt here. You don't like investors because you see them pushing up house prices and you can't buy. What you need to do is make a plan to buy. This may entail doing things like increasing your income buy going back to work or buying with a smaller deposit and paying mortgage insurance or buying a smaller home/villa etc. Speak to a broker and see what your options are. Plenty of banks will lend with less then 20% on a good credit rating.
    I get that you are upset and frustrated but instead of blaming those horrible investors make a plan and put 2 years hard work into making it happen. Get work night shift, work at a supermarket, tag team with your husband child care. Get a cheaper rental or move in with family if possible. Do whatever it takes if you really want to buy.
    Or buy an investment property first in a cheap area and negative gear it. Come to the dark side

    Or we could cut NG, bring down house prices and the average joe could actually afford to buy without working themselves to death.

    The argument goes both ways here. You are basically saying that others have suck it up so investors can keep getting kick backs and getting wealthy off those that can't afford to buy. It could be said that investors need to suck it up, work a little harder to get a bigger deposit if they want an additional house/s rather than expecting the tax payer to subside them.

    Saying rentals are needed is a cyclic argument. The reason demand is so high for rentals is bc housing prices are so high - which has a huge part to do with NG.

  4. The Following 2 Users Say Thank You to delirium For This Useful Post:

    ChatlotteA  (10-05-2016),Freyamum  (10-05-2016)

  5. #64
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    Quote Originally Posted by delirium View Post
    You are missing the point though. If you don't have an all interest loan then you are eating into the principle. The tenant is paying that. Look I get some people will always rent, and god knows no one expects you to house people for free! of course they pay you rent. But if you have high interest % then a portion of that loss is subsided. If it isn't you get little to no NG but your principle is getting paid off by the tenant.

    I know what I'm trying to say lol
    Haha yes I think I do get what you're saying.

    What I'm trying to say is that negative gearing isn't necessarily this get rich quick scheme which I think many people believe it to be, and mainly it's those who are negative gearing that are a bit naive I think!

    In my case I have a rental property (not intentional, former family home which I didn't sell when upgrading) and it has not gone up in value as much as all the money I have poured into it over the years on top of what the tenant pays and what tax breaks I have gotten (a modest $3-4K per year). So yes even though the tenant has paid some of the mortgage I'm still in the red and would have been much better off putting that money into a saving account.

  6. #65
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    So if investors pull out and rents sky rocket what will happen then? How will people be able to afford to rent anything in the city and save for a house deposit?

  7. #66
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    Quote Originally Posted by delirium View Post
    I said I didn't hate investors lol I was trying to explain my annoyance on the topic was primarily from people IRL who had been given everything then act like they are somehow better for owning and NG.

    I certainly don't think most investors are 'fat cats'. As a long time renter, sadly I'm aware many are mum and dad investors..... that over extend, over capitalise, get greedy then can't afford to fix anything. We've had those LL's. They are the worst kind. They want their rent paid every fortnight but won't fulfill their own end of the TA and maintain the property bc they are broke.
    From your posts I think you have a very poor opinion of investment home owners.

    Either they are fats smoking cigars gloating or they are greedy LL who have over extended their loan and won't do repairs.

    But most are avg ppl like us. I'm going back to work (not because I want to) but because we need a 10K slush fund to deal with possible problems in our tenanted house.

    Believe me I'd much rather live in my own house and live cheaper than rent it out, live elsewhere and pay rent. But I wanted to live with my husband again. So we are stuck in this stupid situation.

  8. #67
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    Quote Originally Posted by delirium View Post
    Or we could cut NG, bring down house prices and the average joe could actually afford to buy without working themselves to death.

    The argument goes both ways here. You are basically saying that others have suck it up so investors can keep getting kick backs and getting wealthy off those that can't afford to buy. It could be said that investors need to suck it up, work a little harder to get a bigger deposit if they want an additional house/s rather than expecting the tax payer to subside them.

    Saying rentals are needed is a cyclic argument. The reason demand is so high for rentals is bc housing prices are so high - which has a huge part to do with NG.
    I understand the frustration of not being able to buy a home and I agree that buying a house should be affordable to most people. I just don't think that getting rid of negative gearing will fix the problem.

  9. #68
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    Default Housing / negative gearing / politicians

    I find it hilarious that people are going on about "losing money" when their property is negatively geared. Please. Most investors have interest only loans and if it wasn't benefitting them then they would positively gear their properties. Plus once a property is positively geared, accountants advise to "get rid of it"

    There are so many new estates being built in Sydney. Mascot, Botany, Wolli Creek, Hurstville plus many others are going nuts with thousands of new apartments being built and there are thousands of houses being built in the west, north west and south west. My husband is working on the new housing estates out west and he has been working up to 14 hours on some days it is that crazy.

  10. #69
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    Quote Originally Posted by delirium View Post
    Or we could cut NG, bring down house prices and the average joe could actually afford to buy without working themselves to death.

    The argument goes both ways here. You are basically saying that others have suck it up so investors can keep getting kick backs and getting wealthy off those that can't afford to buy. It could be said that investors need to suck it up, work a little harder to get a bigger deposit if they want an additional house/s rather than expecting the tax payer to subside them.

    Saying rentals are needed is a cyclic argument. The reason demand is so high for rentals is bc housing prices are so high - which has a huge part to do with NG.
    What you want is for house prices to come down so you get to live the lifestyle you want, how you want it and get what you want like a house with little effort. Working hard for a few years is hardly going to kill you. No one says you have to work like that for 10 years. You don't live in Sydney your house price must be much lower.
    Essentially you would rather blame people who are trying to secure their future and their kids future then do something for yourself because God forbid it might hurt a bit.
    I'm not going to get the aged pension, I don't get FTBs, I don't get any family payments or CCB or rent assistance. I pay for private dentists and private schools. I Pay my taxes (yes lots of them even with negative gearing) I will also pay for my children's university education and they will not be entitled to Austsudy or youth allowance.
    I'm trying to secure my kids futures and my own. And the government helps me a little. They are helping you yes? You get rent assistance yes? I'm not complaining your getting help I'm happy for it why are you so upset with is. I could say it's your choice to be a stay at home mum could I not? I could be angry and demand the government not help you because I have to work and it's not fair. But I don't because your life is yours I was just pointing out that maybe just maybe if you changed up your life a little for a little while you might be able to buy.

  11. #70
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    Quote Originally Posted by BigRedV View Post
    I find it hilarious that people are going on about "losing money" when their property is negatively geared. Please. Most investors have interest only loans and if it wasn't benefitting them then they would positively gear their properties. Plus once a property is positively geared, accountants advise to "get rid of it"

    There are so many new estates being built in Sydney. Mascot, Botany, Wolli Creek, Hurstville plus many others are going nuts with thousands of new apartments being built and there are thousands of houses being built in the west, north west and south west. My husband is working on the new housing estates out west and he has been working up to 14 hours on some days it is that crazy.
    So you think it's hilarious that I've lost money on a rental property? Well geez. Thanks.

    How do people just magically 'positively gear' their properties? Oh yeah, I'll just grab the spare cash I have sitting in this other account over here that's I'd forgotten about and move it onto my loan.

    I think you are so out of touch with reality.


 

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