Might be shooting meself in the foot here, but here goes.......
Sep 5th 2007, 10:43 am
#1
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Joined: Apr 2006
Location: Heritage Park, South Brisbane, QLD
Posts: 316
Might be shooting meself in the foot here, but here goes.......
Scenario.
Bring money over (say $500K).
Rent property. Buy 2 smaller rental properties with small mortgages.
Do you still get rental assistance? Are there any tax breaks you get? Would it be worth it? (rental income would cover mortgage - should we buy higher value property so we are in debt and costs not covered?)
Just a thought.
Would really appreciate any advice as our dream home is £100K beyond our reach and we are damn sure we are gonna get it one day........
Thanks
Carol
Bring money over (say $500K).
Rent property. Buy 2 smaller rental properties with small mortgages.
Do you still get rental assistance? Are there any tax breaks you get? Would it be worth it? (rental income would cover mortgage - should we buy higher value property so we are in debt and costs not covered?)
Just a thought.
Would really appreciate any advice as our dream home is £100K beyond our reach and we are damn sure we are gonna get it one day........
Thanks
Carol
Last edited by cartel; Sep 5th 2007 at 10:44 am. Reason: can't get pounds out of me head!!!!!!! LOL
Sep 5th 2007, 11:01 am
#2
Just Joined
Joined: Jun 2006
Posts: 18
Re: Might be shooting meself in the foot here, but here goes.......
Hi Carol,
Its nice to see people actually trying to make business with property out there!
I did a little property investing over here in the UK and there are a few things you need to take into consideration!
1. Look at the growth in the property market what kind of rate are the house values growing at? Take a look at the commonwealth Bank website they should have a report covering this!
2. What kind of mortgage are you going to apply for if you are looking to buy a property with the intention to rent? Buy to let for example
3. Capital gains tax!!! if you are looking to rent out a property for yourself but still buy 2 properties you could face a hefty taxation on the capital you gain on one or the other! You may be better off in this situation rent one for yourself and buying just one house that is slightly more expensive (meaning you may not have to get a mortgage) and letting that ride on the market! Then when you do come to sell the whole profit is yours!
the best thing to remember is to never start running before you can walk take things one step at a time and go from there!!
Good uck with this anyway- let me know how you get on!!
Linda x
Its nice to see people actually trying to make business with property out there!
I did a little property investing over here in the UK and there are a few things you need to take into consideration!
1. Look at the growth in the property market what kind of rate are the house values growing at? Take a look at the commonwealth Bank website they should have a report covering this!
2. What kind of mortgage are you going to apply for if you are looking to buy a property with the intention to rent? Buy to let for example
3. Capital gains tax!!! if you are looking to rent out a property for yourself but still buy 2 properties you could face a hefty taxation on the capital you gain on one or the other! You may be better off in this situation rent one for yourself and buying just one house that is slightly more expensive (meaning you may not have to get a mortgage) and letting that ride on the market! Then when you do come to sell the whole profit is yours!
the best thing to remember is to never start running before you can walk take things one step at a time and go from there!!
Good uck with this anyway- let me know how you get on!!
Linda x
Sep 5th 2007, 11:04 am
#3
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Joined: Nov 2003
Location: Lower Chittering, Perth
Posts: 4,646
Re: Might be shooting meself in the foot here, but here goes.......
Scenario.
Bring money over (say $500K).
Rent property. Buy 2 smaller rental properties with small mortgages.
Do you still get rental assistance? Are there any tax breaks you get? Would it be worth it? (rental income would cover mortgage - should we buy higher value property so we are in debt and costs not covered?)
Just a thought.
Would really appreciate any advice as our dream home is £100K beyond our reach and we are damn sure we are gonna get it one day........
Thanks
Carol
Bring money over (say $500K).
Rent property. Buy 2 smaller rental properties with small mortgages.
Do you still get rental assistance? Are there any tax breaks you get? Would it be worth it? (rental income would cover mortgage - should we buy higher value property so we are in debt and costs not covered?)
Just a thought.
Would really appreciate any advice as our dream home is £100K beyond our reach and we are damn sure we are gonna get it one day........
Thanks
Carol
Sep 5th 2007, 11:12 am
#4
Account Closed
Joined: Jun 2007
Posts: 3,821
Re: Might be shooting meself in the foot here, but here goes.......
Why not if they are investing their own money into a business venture as such?
Oh I don't know if I think it is right or not to get assistance?! LOL!
Em x
Oh I don't know if I think it is right or not to get assistance?! LOL!Em x
Sep 5th 2007, 11:26 am
#5
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Joined: Apr 2006
Location: Heritage Park, South Brisbane, QLD
Posts: 316
Re: Might be shooting meself in the foot here, but here goes.......
I've paid my due's in the UK all my life. If they are gonna give it to me, I'll take it.
Partly why I left the UK. They were giving it out to all and sundry apart from those who had worked very hard all their lives.
Notice no swears words!!!!!!!!!!!!!!!
Carol
(I did very well I think and will pat myself on the back!)
Partly why I left the UK. They were giving it out to all and sundry apart from those who had worked very hard all their lives.
Notice no swears words!!!!!!!!!!!!!!!
Carol
(I did very well I think and will pat myself on the back!)
Sep 5th 2007, 11:29 am
#6
Just Joined
Joined: Jun 2006
Posts: 18
Re: Might be shooting meself in the foot here, but here goes.......
I've paid my due's in the UK all my life. If they are gonna give it to me, I'll take it.
Partly why I left the UK. They were giving it out to all and sundry apart from those who had worked very hard all their lives.
Notice no swears words!!!!!!!!!!!!!!!
Carol
(I did very well I think and will pat myself on the back!)
Partly why I left the UK. They were giving it out to all and sundry apart from those who had worked very hard all their lives.
Notice no swears words!!!!!!!!!!!!!!!
Carol
(I did very well I think and will pat myself on the back!)
Sep 5th 2007, 12:08 pm
#7
Account Closed
Joined: Jun 2007
Posts: 3,821
Re: Might be shooting meself in the foot here, but here goes.......
[QUOTE=cartel;5276030]I've paid my due's in the UK all my life. If they are gonna give it to me, I'll take it.
QUOTE]
Absolutely! Why not!?!
Good luck with it all!
Em x
QUOTE]
Absolutely! Why not!?!
Good luck with it all!
Em x
Sep 5th 2007, 2:01 pm
#8
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Joined: Aug 2005
Posts: 2,322
Re: Might be shooting meself in the foot here, but here goes.......
My take on this is 'if you can't beat them join them'
If you are entitled to any help available then why not take it
Standing the moral highground gets you nowhere - the UK is testimony to this with all the eastern europeans getting free cars, mobile contracts etc - whilst WE pay the taxes...
I sometimes go to the gym in the daytime and in the 'free weights' section there are always between 8 - 10 immigrants speaking in their own language (bosnian etc)..makes my f***** blood boil, especially when i had a word with one of the instructors and he told me they get FREE :curse:membership (and obviously don't work).
They are taking the p*** out of this country and our government lets them...
Time to get out of here methinks
Sams OH (just back from the gym and feeling :curse
If you are entitled to any help available then why not take it
Standing the moral highground gets you nowhere - the UK is testimony to this with all the eastern europeans getting free cars, mobile contracts etc - whilst WE pay the taxes...
I sometimes go to the gym in the daytime and in the 'free weights' section there are always between 8 - 10 immigrants speaking in their own language (bosnian etc)..makes my f***** blood boil, especially when i had a word with one of the instructors and he told me they get FREE :curse:membership (and obviously don't work).
They are taking the p*** out of this country and our government lets them...
Time to get out of here methinks
Sams OH (just back from the gym and feeling :curse
Sep 6th 2007, 12:39 am
#9
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Thread Starter
Joined: Apr 2006
Location: Heritage Park, South Brisbane, QLD
Posts: 316
Re: Might be shooting meself in the foot here, but here goes.......
My take on this is 'if you can't beat them join them'
If you are entitled to any help available then why not take it
Standing the moral highground gets you nowhere - the UK is testimony to this with all the eastern europeans getting free cars, mobile contracts etc - whilst WE pay the taxes...
I sometimes go to the gym in the daytime and in the 'free weights' section there are always between 8 - 10 immigrants speaking in their own language (bosnian etc)..makes my f***** blood boil, especially when i had a word with one of the instructors and he told me they get FREE :curse:membership (and obviously don't work).
They are taking the p*** out of this country and our government lets them...
Time to get out of here methinks
Sams OH (just back from the gym and feeling :curse
If you are entitled to any help available then why not take it
Standing the moral highground gets you nowhere - the UK is testimony to this with all the eastern europeans getting free cars, mobile contracts etc - whilst WE pay the taxes...
I sometimes go to the gym in the daytime and in the 'free weights' section there are always between 8 - 10 immigrants speaking in their own language (bosnian etc)..makes my f***** blood boil, especially when i had a word with one of the instructors and he told me they get FREE :curse:membership (and obviously don't work).
They are taking the p*** out of this country and our government lets them...
Time to get out of here methinks
Sams OH (just back from the gym and feeling :curse
Carol
Sep 6th 2007, 1:01 am
#10
Where traffic lights rule
Joined: Aug 2006
Location: Brighton QLD
Posts: 2,460
Sep 6th 2007, 1:39 am
#11
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Joined: Jun 2007
Location: Melbourne
Posts: 10,994
Re: Might be shooting meself in the foot here, but here goes.......
You do realise when you move to Aus (and become an immigrant) you wont be able to get the Daily Mail everyday?
I was in the bank yesterday and the Taiwanese teller was speaking to a Taiwanese immigrant in their local tongue....would that make your f****** blood boil too!??
Last edited by bcworld; Sep 6th 2007 at 1:41 am.
Sep 6th 2007, 5:16 am
#12
BE Forum Addict
Joined: Apr 2007
Location: Brisbane, Australia
Posts: 3,521
Re: Might be shooting meself in the foot here, but here goes.......
My take on this is 'if you can't beat them join them'
If you are entitled to any help available then why not take it
Standing the moral highground gets you nowhere - the UK is testimony to this with all the eastern europeans getting free cars, mobile contracts etc - whilst WE pay the taxes...
I sometimes go to the gym in the daytime and in the 'free weights' section there are always between 8 - 10 immigrants speaking in their own language (bosnian etc)..makes my f***** blood boil, especially when i had a word with one of the instructors and he told me they get FREE :curse:membership (and obviously don't work).
They are taking the p*** out of this country and our government lets them...
Time to get out of here methinks
Sams OH (just back from the gym and feeling :curse
If you are entitled to any help available then why not take it
Standing the moral highground gets you nowhere - the UK is testimony to this with all the eastern europeans getting free cars, mobile contracts etc - whilst WE pay the taxes...
I sometimes go to the gym in the daytime and in the 'free weights' section there are always between 8 - 10 immigrants speaking in their own language (bosnian etc)..makes my f***** blood boil, especially when i had a word with one of the instructors and he told me they get FREE :curse:membership (and obviously don't work).
They are taking the p*** out of this country and our government lets them...
Time to get out of here methinks
Sams OH (just back from the gym and feeling :curse
at least you won't find any of those nasty immigrants in oz
Sep 6th 2007, 5:24 am
#13
Account Closed
Joined: Sep 2005
Posts: 15,455
Re: Might be shooting meself in the foot here, but here goes.......
have you seen that recent movie 'this is england'? it's about skinheads (and national front) in the early 80s in the thatcher years who hate all immigrants for "taking their jobs, having too many kids, getting handouts" etc etc. it's good to see how far we have progressed from that attitude in the past 25 years ....
at least you won't find any of those nasty immigrants in oz
at least you won't find any of those nasty immigrants in oz
Free gym membership when you move to UK? When did that come in?
Sep 6th 2007, 5:26 am
#14
Gutter Gob!!
Joined: Feb 2005
Location: Perth
Posts: 13,098
Re: Might be shooting meself in the foot here, but here goes.......
Personally I think it is crap. Do people seriously think that immigrants get to britain and get handed free gym membership/cars/mobiles etc. It is the british press that likes people to believe this happens.
