Forum Replies Created

Viewing 20 posts - 241 through 260 (of 335 total)
1 … 9 10 11 12 13 14 15 16 17
  • Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    January 1, 2005 - 2:57 am

    Also on the subject of Land Tax.

    Here is SA, the land tax is calculated on the accumulated value of land. So the more you own the more you pay.

    My agent has started purchasing properties for me in really weird percentages. For example, Property one is owned 99% me and 1% my wife, Property two 98% me and 2% my wife.

    What that does is start up new land tax account numbers and provided we keep buying the low ends or under $100k mark no land tax for us. Even if we go above it, the land tax is not a great issue for the type of properties we buy.

    Now if we had our entire holdings just as jointly owned 100% our land tax bill would be very painful I must say.

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    January 1, 2005 - 2:53 am

    One way around that.

    Don’t let emotions get involved in your decision making process.

    Again that is one reason I do not view the properties I am buying personally.

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    January 1, 2005 - 2:51 am

    My answer are “just do it”

    Start looking and when you find then decide how to proceed.

    As for your hands on approach, that is good if you are in a travelling distance from the properties you buy. If not, then it is no great benefit.

    I think you have a great starting position and should find it very easy to build a great portfolio fast.

    Good luck and Happy New Year for 2005

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    January 1, 2005 - 2:47 am

    There are people here that will find you properties for a fee.

    Are you serious about CF+ properties. Or you just checked your local paper once and found none.

    They are out there I can assure you.

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    January 1, 2005 - 2:35 am

    Questions that need answering first,

    1. What are the properties around you like? If they are all 40 acres minimum you have no hope.
    2. When you say zoned rural, are you even in a town or in the surrounding areas?
    3. Find out from the council why it has that zoning and what the councils future plans are. Should all be documented.

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    January 1, 2005 - 2:31 am

    Get good insurance and find a property manager than can screen tenants.

    I have had some beauty, but all covered by insurance. The worst was for $5000. They took my doors, light switches carpets, you name it, but it did me a favour, i get a further $20 a week rent after insurance paid for refit.

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    January 1, 2005 - 2:26 am

    Tell me the property is not owned by the actual Dentist

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    January 1, 2005 - 2:25 am

    In Table 11.1 you are comparing selling one property to buy two properties and there fore the rent figures are firstly for one property and then for two.

    In Table 11.2 you are comparing refinancing your current property also listed in Table 11.1 to purchase one more property. So the rent numbers differ yes. If that is not clear please ask a more direct question.

    I think what the table is showing is if you sold one to buy two properties your end cash position would be what is showing in Table 11.1 however if you kept your first property refinanced it to buy property number 2 as shown in Table 11.2 then you would have more cash in hand to go and buy a third property anyway.

    HOpe that makes some sense.

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    January 1, 2005 - 2:15 am

    Yes I agree, 2005 is going to be a great one for me.

    All the best to everyone.

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    December 31, 2004 - 10:18 am

    By researching and reading.

    Try the net, try other members, don’t limit your search and use your imagination.

    I mean you think I would just find one now and say hey Gogo, take it a gift?

    We are all in the game of investing here and a good deal is one we are all going to jump on.

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    December 31, 2004 - 10:16 am

    Why use an architect?

    I use project builders and it is seems to work out a lot less as they do the lot, from plans, to building and then sell.

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    December 31, 2004 - 10:12 am

    Joe Barbaro
    MTS accountants Salisbury
    0412950424
    82816944

    Laid back and very helpful

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    December 31, 2004 - 9:58 am

    WEll there are many members here, ask them.

    I have some CF+ and I do not wrap anything I own.

    You do the maths

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    December 31, 2004 - 9:56 am

    wouldn’t your property manager do that for you? Mine do it for me here in SA.

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    December 31, 2004 - 9:49 am

    I get the address, and then personally visit the local council and ask too see a town planner.

    See what the council would consider and they give you a nice map, info, guideline and so on.

    I then take that to a draughtsmen or surveyor depending on what I am doing and off you go. Not an expensive excercise, but can very profitable.

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    December 31, 2004 - 9:42 am

    why would this matter?

    If he has 1 or 10000 how does it impact on what you want to do? I don’t see the relevance

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    December 31, 2004 - 9:41 am

    ON those returns I find it over priced as it is.

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    December 31, 2004 - 9:39 am

    does it make a difference to your plan?

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    December 30, 2004 - 2:50 pm

    I usually just get a letter to comfirm i have funds too complete and that is usually sufficient for the bank.

    the letter basically states i have funds available on call with someone signed by that someone.

    Byronent
    Adelaide SA

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337
    December 30, 2004 - 1:21 pm

    Not much, not warranted buying a block for I have to say.

    You usually adjist on the spare land of a block to earn extra revenue.

    Byronent
    Adelaide SA

Viewing 20 posts - 241 through 260 (of 335 total)
1 … 9 10 11 12 13 14 15 16 17