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Viewing 19 posts - 1 through 19 (of 19 total)

BlackHole
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@blackhole
Join Date: 2003
Post Count: 22
October 4, 2003 - 1:05 pm
hi steveod, i don’t think you will get penalised if you inform them after. you may have to pay interest though (not entirely sure). the rules for each state slightly differ. in nsw you don’t have to live in it for 12 months before you get it. and if you do get an investment loan and claim the grant – chances are you will have to do a lot of explaining sometime down the track. On another note, I do personally believe that the grant should be means tested. Not on a salary basis but by the amount of the property. Maybe say over $600,000 they shouldn’t be entitled to the grant. Or a sliding scale. I am from Sydney so I didn’t want to make the amount to small as the property prices here are $$$$$
BlackHole
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@blackhole
Join Date: 2003
Post Count: 22
October 3, 2003 - 3:05 pm
Personally, I would lose the tenant(s). Increase the rent or whatever if they are not on a lease. Sounds like a never ending complainer.
BlackHole
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@blackhole
Join Date: 2003
Post Count: 22
October 3, 2003 - 3:00 pm
I’d delay the settlement for a day or so. How long ago was it since you last looked at the property?
BlackHole
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@blackhole
Join Date: 2003
Post Count: 22
October 3, 2003 - 2:30 pm
Actually I’m not Fester. I’ve been in the top marginal tax bracket for a long time. But that’s another story. Its great you can negatively 5 properties. You are a minority thats for sure. Just wondering have you read Steve’s book? Are you from Sydney?
BlackHole
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@blackhole
Join Date: 2003
Post Count: 22
October 2, 2003 - 2:37 pm
Eastern Suburbs Sydney. Great area, no doubt! Costs $10,000 per square metre though. Most of Sydney has to be negatively geared. Even the historical worse Suburb of Sydney (Mt Druitt) has lost its image and prices there now start about $250,000 – $300,00 for a apartment/townhouse. Positive cashflow no longer exists even in that suburb where returns were high.
BlackHole
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@blackhole
Join Date: 2003
Post Count: 22
October 2, 2003 - 2:26 pm
Chermside West in Brissy. Chermside also, but that suburb has just been through there boom. Not a positive gear property though. But great Capital Growth.
BlackHole
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@blackhole
Join Date: 2003
Post Count: 22
October 2, 2003 - 2:22 pm
Great story telling, even better coz it was real []
BlackHole
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@blackhole
Join Date: 2003
Post Count: 22
October 2, 2003 - 2:17 pm
There is no official time limit. 3 months usually is a rule of thumb. 6 months is better.
Just need to keep the bills in their names.
BlackHole
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@blackhole
Join Date: 2003
Post Count: 22
October 2, 2003 - 1:17 pm
Yeah, me again []. Check out Rockhampton. How far is that from Brisbane?
BlackHole
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@blackhole
Join Date: 2003
Post Count: 22
October 2, 2003 - 1:05 pm
Wolverine, you are a lucky man! Wish I had that choice. Personally I would open a Subway franchise, get some blue-chip shares and a positive cash flow property. Multiple streams of income!
BlackHole
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@blackhole
Join Date: 2003
Post Count: 22
October 2, 2003 - 1:00 pm
Hi Tuttsy, as far as I know you will always pay CGT if you used the property as an investment property. Pro-rata based ofcourse.
BlackHole
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@blackhole
Join Date: 2003
Post Count: 22
October 2, 2003 - 12:52 pm
Hi Erika, No I didn’t say that at all . I only wanted to state was that negative gearing MORE THAN ONE property is very difficult financially.
BlackHole
Participant
@blackhole
Join Date: 2003
Post Count: 22
October 2, 2003 - 7:03 am
I was looking at Townsville about 3-6 months ago. I could see then they were all disappearing as well so someone else must have caught on to the idea. I never did buy cause Im from Sydney and never got the chance to go up there. I never knew about the 11 second rule then. So if that is what you are using i can’t say there is many of them, if any properties at all that fit. All I knew back then was that I could practically afford anything in Townsville and the rent was generally a lot bigger than the loan repayment (basic rent/loan calculation).
Keep looking and Good Luck Tuttsy.
PS. Are you from Townsville?
BlackHole
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@blackhole
Join Date: 2003
Post Count: 22
October 2, 2003 - 6:15 am
Hi Tuttsy. Yes Townsville you will get positive cashflow. Although that suburb/area has already boomed so you won’t get the capital growth. You can checkout http://www.realestate.com.au.
BlackHole
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@blackhole
Join Date: 2003
Post Count: 22
October 2, 2003 - 6:12 am
Negative gearing is good if you are on the highest tax bracket. But Negative gearing more than 1 normally means that your disposable income would be close to $0. Unless you are on a million dollars a year + bonuses (gold collar worker).
BlackHole
Participant
@blackhole
Join Date: 2003
Post Count: 22
October 2, 2003 - 6:08 am
I am also with ANZ. On the breakfree package. Not to useful those guys. I’m thinking of going fix early next year. Maybe 1st or 2nd quarter. Do you know there fixed rate at the moment?
BlackHole
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@blackhole
Join Date: 2003
Post Count: 22
October 2, 2003 - 5:56 am
Read a few posts. Im only new but I saw his name everywhere with his contact details.
BlackHole
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@blackhole
Join Date: 2003
Post Count: 22
October 2, 2003 - 5:53 am
Not meaning to sound like an @ss, but are you really a Real Estate Agent that sells new homes? You guys have access to every suburb with a few keystrokes.
BlackHole
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@blackhole
Join Date: 2003
Post Count: 22
October 2, 2003 - 5:34 am
“Best of Both Worlds.”