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  • Profile photo of Ben KBen K
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    @ben-k
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    November 1, 2010 - 1:23 am

    Thanks for the response guys

    Thanks for that terry, just checking it out now

    Ben

    Profile photo of Ben KBen K
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    October 30, 2010 - 12:48 pm

    Ok cool, thanks Scott for clarifying that for me,

    Getting to grips with the stamp duty, CGT and FHOG thing. slowly but surely!!

    thanks again

    Ben

    Profile photo of Ben KBen K
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    October 30, 2010 - 12:25 pm

    I would like to add to this question;

    If i was to purchase a property (first one) in QLD but live in a different state, could i declare that home as my ppor if i am renting elsewhere and clain FHOG and have the 6 yr no CGT rule applied ?

    Appreciate any assistance

    Ben

    Profile photo of Ben KBen K
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    October 29, 2010 - 2:13 am

    My mums partner was a developer for about 7 years from the mid 90's.He was in the top 5 small business borrowers from ANZ in NZ for a period of time. i have picked his brains on many occasions and he said to me regarding developments/subdivisions: 

    If it costs a mill to buy, spend a mill to develop, make a mill in the sale. he was a simple bloke lol, but it worked,well. he said what ever land costs were, spend that amount on development and make that amount on the back end (in simple terms)

    dont know how savvy developers on this forum feel about that but just wanted to share what i had been told about developing. obviously alot more complex than that – but just giving that answer in regards to the question!

    Ben 

    Profile photo of Ben KBen K
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    October 27, 2010 - 6:36 am
    justine08 wrote:
    Has anyone done much with Vendor finance deals? Not sure how this would be possible

    Vendor finance – when the seller leaves enough in the deal as a deposit. you will need to be able to service the loan though and have a lawyer do up the agreement –  There are alot of forum regulars who will be able to give you an in depth explanation as to how it works, and you can search for previous threads and they might answer your questions for you.

    Good luck

    Profile photo of Ben KBen K
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    @ben-k
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    October 27, 2010 - 4:40 am

    Justine08, id like to add something,

    If you are in a position to do so, and are hungry enough, the absolute best solution is to do what EVER it takes to come up with a deposit or some money toward your investment.

    There are numerous threads on the forum with tips to save, or increase your income. I am a firm believer and know from experience that regardless of the situation you can change it for yourself.

    Dont leave it up to someone/something else to decide wether you can get on board a development/buy a property, just try your hardest to access the capital yourself.

    some people will agree and others will be ambassadors for no money down techniques, but i think the best option is come to the party with equity/savings/inheritance/bonds or whatever

    Ben 

    Profile photo of Ben KBen K
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    October 27, 2010 - 1:29 am
    Qlds007 wrote:

    An example was a client today who was told by his CBA branch manager that he had a 100% offset account and that he should deposit all of his income into this account and then redraw it when necessary. Unfortunately it turns out that after making $96,000 deposit into the account over the last few years he has decided to withdrawn only for us to advise that he has now contaminated the interest deductibility and he cannot claim this as a deduction.

    ouch… pays to check everything

    Profile photo of Ben KBen K
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    October 26, 2010 - 1:53 pm

    hearing things like "ÿour accountant is wrong" when it comes to property like i see on so many occasions when reading up at this forum, i hope makes people take good care in finding an accountant that is like minded and well versed in dealing with property portfolios, i know its made me realise how important it is

    Thank you for posting guys

    Profile photo of Ben KBen K
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    October 26, 2010 - 1:49 pm

    thanks alot maree, hear from you soon

    Profile photo of Ben KBen K
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    October 26, 2010 - 8:38 am

    Hi Maree, if you would please,

    my email is [email protected] or [email protected] which is preferred :)

    thank you

    Profile photo of Ben KBen K
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    October 26, 2010 - 5:35 am

    I have found the Excell spreadsheet thread in the finance section – just need to figure out how to work it now…

    now, ben… this is where all that time sitting in front of excell doing rosters for your staff comes in, just… harder !

    If anyone has alternatives that they use please share

    Cheers

    Profile photo of Ben KBen K
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    October 25, 2010 - 11:47 pm

    Hi Duckster, thank you for that, i do know what a LOC is actually i just hadnt heard that term before (always learning the lingo on here!)

    i did have a question relating to the LOC however,

    is it considered personal credit ie: non deductible if i was to draw down on it even for a motgage deposit or reno/repairs?

    ben

    Profile photo of Ben KBen K
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    October 25, 2010 - 5:56 am

    i liked the "initiative taken for the concern" part..

    Profile photo of Ben KBen K
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    @ben-k
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    October 25, 2010 - 5:16 am

    i was going to pm you to say thank you but since i cant,

    Thank you for the explanation on LOC and quazi offset accounts mate

    Ben

    Profile photo of Ben KBen K
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    October 25, 2010 - 5:12 am

    Ben – 23 yrs
    Currently in the NT, here 6 months ago from NZ, initially went to the gold coast to play league but have discovered the proverbial gold mine that is central australia so will be here for 3 years with my partner before going back to QLD

    have been interested in real estate since 18 yrs, bought and sold a couple of homes with a friend then travelled and drank the profits, learnt from the "mistakes" and am now in the process of building enough of a deposit to start again on a buy and hold basis.

    love learning on these forums and try to give input where possible.

    Ben

    Profile photo of Ben KBen K
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    October 25, 2010 - 4:52 am

    Investment pupil, thank you bud, very valid point by the way thanks for the response

    Ben

    Profile photo of Ben KBen K
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    October 25, 2010 - 4:50 am

    Hi Dara,

    just read and learn! if you see a topic that relates to your current situation or that you are interested in, hit "subscribe post" at the bottom left of the authors post, and you will be kept in the loop! if you have a question, create a thread in the relevant section of the forums and people will give you feedback and advice.

    Enjoy!

    Ben

    Profile photo of Ben KBen K
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    October 25, 2010 - 4:43 am

    this is going to sound stupid, but would you please tell me what LOC is?

    Profile photo of Ben KBen K
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    October 25, 2010 - 4:22 am

    Thank you for that Richard, keeps everything fair i guess doesnt it

    Ben

    Profile photo of Ben KBen K
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    October 25, 2010 - 4:18 am

    Investment pupil,

    Thank you for your response, i will be sure to make any offset accounts in the near future 100 % as opposed to "quazi" – is this the default offset account set up by banks unless you request otherwise? do they do this for their own benefit ie; minimising the principle you pay down on your loan?

    look forward to learning more

    Ben

Viewing 20 posts - 41 through 60 (of 97 total)
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