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Jase wrote:We currently own part of a house, the bank owns the rest that has been valued at approx $600K, we have a mortgage on it of approx $320K...

Mrs Jase and I are in the very early stages of looking at moving and we are thinking of buying a new place and keeping our current joint as a rental/investment style scenario.

For those in the know.. would it be better to...

1. Keep our current place as a rental and let the tenants pay off that mortgage? We would thus need to take a new mortgage out to get a new place.
2. Get our place ready and sell to get a new joint.

We are not very savvy when it comes to the property market with regards to rentals and investment properties...

Any help/advice would be greatly appreciated

Any interest that you pay on lending against an investment asset that earns you an income will be tax deductible, so my first step would be to ring an Accountant and make sure it will be a taxation benefit for you. 2nd step would be to ring a real estate agent and get an approximate rental you will receive on your property, that will help you do the sums.

If you want any advice on the mortgage side of things shoot me a PM.

Booney wrote:Nup, we're along for the ride mate.

Now you need to weigh up how much you want the house, do you go to $400k and be done with it?

Me, I think I would.

Thats exactly what we are doing tonight over a scotch fillet and bottle of local red. TBH like others have said its such a minimal amount of a long period so the 'how much do we want it' will be the discussion point at the dinner table.

In saying that we have every belief we are in the position of power now so $4k would be much better spent in our pockets.

whufc wrote:

Booney wrote:Nup, we're along for the ride mate.

Now you need to weigh up how much you want the house, do you go to $400k and be done with it?

Me, I think I would.

Thats exactly what we are doing tonight over a scotch fillet and bottle of local red. TBH like others have said its such a minimal amount of a long period so the 'how much do we want it' will be the discussion point at the dinner table.

In saying that we have every belief we are in the position of power now so $4k would be much better spent in our pockets.

For sure, it would be and I too think the vendors are coming to the $396k party, but, if $4k puts an end to all this and you get your house then in 30 years I doubt you'll regret it.

whufc wrote:

Booney wrote:Nup, we're along for the ride mate.

Now you need to weigh up how much you want the house, do you go to $400k and be done with it?

Me, I think I would.

Thats exactly what we are doing tonight over a scotch fillet and bottle of local red. TBH like others have said its such a minimal amount of a long period so the 'how much do we want it' will be the discussion point at the dinner table.

In saying that we have every belief we are in the position of power now so $4k would be much better spent in our pockets.

How was the scotch fillet and bottle of red?

whufc wrote:

Booney wrote:Nup, we're along for the ride mate.

Now you need to weigh up how much you want the house, do you go to $400k and be done with it?

Me, I think I would.

Thats exactly what we are doing tonight over a scotch fillet and bottle of local red. TBH like others have said its such a minimal amount of a long period so the 'how much do we want it' will be the discussion point at the dinner table.

In saying that we have every belief we are in the position of power now so $4k would be much better spent in our pockets.

But you wont see the $4K.

Lightning McQueen wrote:

whufc wrote:

Booney wrote:Nup, we're along for the ride mate.

Now you need to weigh up how much you want the house, do you go to $400k and be done with it?

Me, I think I would.

Thats exactly what we are doing tonight over a scotch fillet and bottle of local red. TBH like others have said its such a minimal amount of a long period so the 'how much do we want it' will be the discussion point at the dinner table.

In saying that we have every belief we are in the position of power now so $4k would be much better spent in our pockets.

But you wont see the $4K.

According to the bank they are comfortable to lend us the full $400k even if we get the house for $396k.

I will reconfirm with them though but I’m 99.9% sure that’s what they said

Maybe I’m wrong.....either way I’m bloody stubborn and I’m not budging lol

Dutchy wrote:

Jase wrote:We currently own part of a house, the bank owns the rest that has been valued at approx $600K, we have a mortgage on it of approx $320K...

Mrs Jase and I are in the very early stages of looking at moving and we are thinking of buying a new place and keeping our current joint as a rental/investment style scenario.

For those in the know.. would it be better to...

1. Keep our current place as a rental and let the tenants pay off that mortgage? We would thus need to take a new mortgage out to get a new place.
2. Get our place ready and sell to get a new joint.

We are not very savvy when it comes to the property market with regards to rentals and investment properties...

Any help/advice would be greatly appreciated

Any interest that you pay on lending against an investment asset that earns you an income will be tax deductible, so my first step would be to ring an Accountant and make sure it will be a taxation benefit for you. 2nd step would be to ring a real estate agent and get an approximate rental you will receive on your property, that will help you do the sums.

If you want any advice on the mortgage side of things shoot me a PM.

Dutchy, I have NFI about investment properties, so my question - Does claiming the interest open one up to CGT?

Having it as a rental property opens it up to CGT - whether you're paying/claiming interest doesn't matter.

There are some exceptions to CGT - e.g. you can treat a property you've moved out of as your 'main residence', even if you live elsewhere, for up to 6 years if it's used to produce income.

Of course, this means that the new property you're living in may be subject to CGT, as you can't use the 'main residence' exception for two houses at once, except while you're moving.

Still, if you're earning rental $ from your old house, it might be worth copping a small CGT liability.

The ATO has information on its website about all the different scenarios on owning two houses at once.

Thanks mate, something I’m hoping to need to study up on at some point in time.

Anyone had to deal with a child getting bullied at school? And if so, how did you handle it, what advice what you give for dealing with it?

JK wrote:Anyone had to deal with a child getting bullied at school? And if so, how did you handle it, what advice what you give for dealing with it?

Kids can be very cruel. I would speak to the parents of the kid doing the bullying. Hopefully they can speak to the child and pull them in line. If the parents don't want to know about it, maybe tell them that every time your child is bullied in future, you will give the old man a flogging and see how that goes. That's what i would do. Yes, that's not good advice but I hate that shit.

JK wrote:Anyone had to deal with a child getting bullied at school? And if so, how did you handle it, what advice what you give for dealing with it?

I would organise a meeting with their Pastoral/Homeroom teacher first... The school should have procedures to follow when this sort of thing happens. By making the teacher/school informed they are able to keep an eye out and try and head things off before they get to far. It allows an independent person to work through this without the emotion of parents adding to an already tense/complex situation

Unless you have a very good relationship with the other kids parents I wouldn't approach them at all. This can lead to a whole heap of extra issues for you.

My kids have copped it a varying times and I totally understand wanting to give the bullies and their parents a flogging as well, (I hear ya BC), but as a rule schools are pretty good with this sort of stuff, or at least should be, and if their not then it might be time to look at a different school.

JK wrote:Anyone had to deal with a child getting bullied at school? And if so, how did you handle it, what advice what you give for dealing with it?

Won’t be the answer you’re after but I’d go to the school and have a quiet word and evil look at the kid.

Thanks for your input guys .. To expand a little, my lads had a falling out with his mate who is the popular kid of the year level (year 6), so now a number of the kids have drawn a target on his back. For the past 2 days he's copped a few shoves and mild hits (nothing that hurts or is dangerous, just drivebys from a few chicken shits that run off), constant abuse and threats. I explained to my lad that they're being cowards (often threatening that 4 or 5 of them are all gonna bash him). My lad doesn't seem scared by the threats too much, think he's just hurt that everyone's turned on him over a relatively trivial disagreement with 1 other kid that didn't involve anyone else.

My lads done a few years of BJJ and Boxing and is a reasonable size, however he seriously has ZERO Cnut factor about him (very different to his old man at the same age). I explained to him that whilst violence should always be avoided wherever possible, unfortunately, usually the only way to stop a bully is put him on his ass. I can see though that it doesn't come naturally to my lad, and he hates the thought of anyone getting hurt, even those that have wronged him.

I've spoken to the Deputy Principal who is a good bloke and knows my lad is kind hearted and the others are troublesome, and said he told my lad basically the same, don't just stand there with your hands up, use them (which whilst not the worst advice, I was surprised to hear he'd conveyed that to a student). I should point out like all parents I'm biased toward my own kids, but I'm not one of those "Oh my precious little angel would never do anything wrong" types.

I've told my lad that if he has to get physical in order to defend himself, there's zero punishment coming from me. Ultimately I'd love it to be resolved in the most peaceful manner possible without any future ramifications (as would he), but if it's left untreated, this sounds near impossible to materialise. Never feel good about explaining to my kids how or where to hit another, but he's my priority and if he's left pretty much on his own to deal with it, he get's carte blanche from me on doing whatever it takes to stay safe.

Sounds like you need to introduce him to John Wick and Bryan Mills over the weekend......just for research and development purposes...



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First and foremost schools are responsible for his well being whilst there and you should let them use their procedures and protocols to deal with the situation. See how that plays out.

Unfortunately as a parent, as with Dutchy and the lad hitting the road solo, this is one you can offer advice and support on but ultimately you have to let them navigate their way through this, to an extent. If he develops some Rocky inspired moves and levels some prick then he's dealt with it how he felt he should and you support him through that. If he decides to ignore it, walk away and the bullies move on to their next victim then he's seen fit to deal with it in that manner.

It sucks. Bullies suck. I'll never condone it but I do believe it's a part of life that helps us discover ourselves. Develop our own coping mechanisms. Life isn't fair and it's rarely easy, sometimes we need to adapt and learn to cope and as long as our arse points down young people will go through developmental phases that build character. Sucks that we have too, but perhaps that's what makes us.

Booney wrote:First and foremost schools are responsible for his well being whilst there and you should let them use their procedures and protocols to deal with the situation. See how that plays out.

Unfortunately as a parent, as with Dutchy and the lad hitting the road solo, this is one you can offer advice and support on but ultimately you have to let them navigate their way through this, to an extent. If he develops some Rocky inspired moves and levels some prick then he's dealt with it how he felt he should and you support him through that. If he decides to ignore it, walk away and the bullies move on to their next victim then he's seen fit to deal with it in that manner.

It sucks. Bullies suck. I'll never condone it but I do believe it's a part of life that helps us discover ourselves. Develop our own coping mechanisms. Life isn't fair and it's rarely easy, sometimes we need to adapt and learn to cope and as long as our arse points down young people will go through developmental phases that build character. Sucks that we have too, but perhaps that's what makes us.

Thats pretty much been my approach, but given this is my first exposure to such a thing as a parent, wasn't certain if I advised correctly. I pretty much told him, if it's not your way or preferred method to belt someone then thats perfectly fine, you do you. But either way, this is one of those life bridges that unfortunately I cant cross for you - I can walk you up to it, but you've got to get across by yourself. Would like to think that by the time I pick him up in an hour he tells me the school have acted on it in some way that defuse's the situation.

JK wrote:Anyone had to deal with a child getting bullied at school? And if so, how did you handle it, what advice what you give for dealing with it?

Fkuc his Dad

Sheik Yerbouti wrote:

JK wrote:Anyone had to deal with a child getting bullied at school? And if so, how did you handle it, what advice what you give for dealing with it?

Fkuc his Dad

Farg, Not again ...

Sheik Yerbouti wrote:

JK wrote:Anyone had to deal with a child getting bullied at school? And if so, how did you handle it, what advice what you give for dealing with it?

Fkuc his Dad

Literally or Figuratively?