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  • Profile photo of AlexiaAlexia
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    November 25, 2013 - 1:32 am

    Ok Thanks Jamie. So if I wanted to know what was the average weekly rent for the last 5 years for a suburb these magazines should be able to tell me then? Thanks again for your help Alexia

    Profile photo of AlexiaAlexia
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    November 3, 2013 - 10:09 am

    Hi Jamie,

    Thanks for your reply.

    The LMI has been added on top of my loan which was for an IP –  The LMI is about 2k extra.

    Just trying to work out how to treat the 2k from an accounting point of view?  

    Thanks

    Alexia

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    October 3, 2012 - 12:20 pm

    Thanks guys for all your advice.

    I will take all on board and let you know the outcome.

    Thanks again

    Alexia

    Profile photo of AlexiaAlexia
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    September 12, 2012 - 9:54 am

    Thanks guys!

    I'll do a bit more research on them and go from there.

    Thanks again

    alexia

    Profile photo of AlexiaAlexia
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    July 20, 2012 - 3:21 am

    Thanks guys it's much appreciated!!.

    Just wondering is there a difference between the 2 reports – Residex & APM?

    Alexia

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    July 17, 2012 - 1:26 am

    Thanks Caprivik for your quick response.

    I've been looking at Corio or Norlane as my budget is under 250 mark.
    I've also beening looking at units closers to the CBD eg Bell Park, Herne Hill, Belmont but the rental return isn't as high as other suburbs further out. 

    I'll give thoses agents a call and we'll go from there I guess

    Thanks

    Alexia

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    July 17, 2012 - 12:57 am

    Hi All,

    I'm currently looking at investing in Geelong at the moment.

    I was just wondering if anyone has any agents they could recommend speaking to in the Geelong area?

    Thanks

    Alexia

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    April 23, 2012 - 1:36 am

    Hi Ibluedento,

    Thank you for your reply.

    Can I ask where abouts in Mildura does your sister haver her properties?

    What's her opinion on good and bad area's or streets of Mildura.

    Just after another person's opinion on Mildua 

    Thanks for your help in advance

    Alexia

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    October 22, 2011 - 2:47 am

    Thanks guys for your help.

    Coalstar, in your conditions above you've noted that you've had securing a lease prior to settlement – how would you word this in your special conditions? Just an example if you could.

    Thanks

    Alexia

    Profile photo of AlexiaAlexia
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    October 22, 2011 - 1:20 am

    Hi All,

    I'm in the process in getting my contract look at through my conveyor not lawyer which have special conditions in it. Nothing has been signed yet and this is my first property. (property is in Victoria)

    Here are the conditions which I've put in:

    Subject to:

    Finance on terms satisfactory to the purchaser
    Valuation, to the approval of the buyer and the bank
    Satisfactory results of a building and pest/termite inspection, to the approval of the buyer.

    Please let me know if the wording is incorrect and also what else I should add if one of the conditions is not meet.

    1st question is  – should i have used a lawyer instead of a conveyor? Can't conveyors help you in regards to wording of special conditions?

    2nd question is – If a special condition on the contract eg finance doesn't come through or a building inspection is not to the buyers approval. (As per my conditions above) Does the contract automatically end as long as you give the vendor notice or do you have to put it in the wording in the special conditions that this will happen if finance doesn't come through or inspection is not to the approvel of the buyer?

    Im a bit confussed in this area. If someone could give me an example of how a special condition like subject to finance and building/ pest inspection should be worded that would be great.

    Thanks in advance

    Alexia

    Profile photo of AlexiaAlexia
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    September 30, 2011 - 6:13 am

    Hi Guys,

    Thank you for your comments.

    I get where you coming from Terry.

    Thanks

    Alexia

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    September 30, 2011 - 1:58 am

    Hi Terry,

    Thanks for your response.

    Lets say it’s a family trust and it’s making so much profit per year but not huge amount. By claiming depreciation it would turn your profit into a loss. I understand when your trust is making large profits it would be worth claiming it then.

    Terry, what happens with all the depreciation you have claimed when you sell the property?

    Alexia

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    September 1, 2011 - 1:13 am

    Hi All,

    Thank you for your response guys!

    Im from Victoria so what I've been told is that under the Purchase section –  Name part on the contract of Sale you put:

    Mr X & Mr J as tenants in common in equals shares or split ownership. Mr X 60% & Mr J 40%

    If it was just husband and wife then you don't have to put joint tenants afer your names as you will be noted as joint proprietors on the transfer.

    Hopefully this sounds correct!

    Alexia

    Profile photo of AlexiaAlexia
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    July 17, 2011 - 11:20 am

    Hi Guys,

    Bjsaust, thank you explaining that to me. It makes more sense to loan that bit extra to cover the shortfall. Like Terry said it would be a better option.

    Can you get an offset account attached to the 80% loan which is under the trust's name? The 80% loan under the company name would be treated as a business loan? Do bank's allow offset accounts to business loans?

    Sorry for the late response guys.

    Alexia

    Profile photo of AlexiaAlexia
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    July 12, 2011 - 11:34 pm

    Hi Terry,

    Thanks for your help.

    I was just trying to say that if you gift the money to the trust it becomes an asset of the trust.

    Alexia

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    July 12, 2011 - 11:13 pm

    Hi Terry,

    In regards to the asset protection aspects –

    If you loan the money it will always be an asset of the lender not the trust but if you gift the money to the trust it no longer belongs to you and becomes an asset on the trust books?

    Alexia

    Profile photo of AlexiaAlexia
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    July 12, 2011 - 9:35 am

    Thanks Terry.

    Great feedback. I think charging the trust the same interest rate as you is the way to go instead of gifting the money. 

    I never thought of it in that way Bjsaust  – your example above makes sense!

    Bjsaust, let me know how you go with your accountant!

    Thanks guys

    Alexia

    Profile photo of AlexiaAlexia
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    July 12, 2011 - 3:39 am

    Hi Terry,

    The interest from the LOC which I'm are getting charged would be the same as the interest the trust is charging back to me. 

    So wouldn't the interest chgs just offset against each other –  The net effect would be zero anyway? 

    Either way charging interest or gifting the money I still wouldn't be able to deduct it from my personal income unless the trust chgs a higher interest rate. By doing this it will reduce any income from the trust, maybe a loss which we don't want.  Is this correct the way Im thinking or I've got it totally wrong – Sorry Terry.

    This is where Im confused or maybe I'm  just missing something.

    Alexia

Viewing 18 posts - 1 through 18 (of 18 total)