Hi Mel,

The question wasn’t about security. The disadvantages of a PPOR is the interest on the loan isn’t a taxable deduction. You take a PPOR and change it to an IP, then refinance the original loan so it is now a taxable deduction and after 1 week change the IP back to a PPOR to make it free of CGT if you decide to sell later. How would the…[Read more]

Hi J,

I’ve been o/s for toooo long. Tooo many countries with strange languages. I’m surprised you get free transfers. I’ve known a few people who have been question on there source of o/s income by the ATO, not long after large transfers have been made. I don’t know the exact reporting proceedure, but believe it is compulsory. Is the 30AUD…[Read more]

Hi Jake,

Maybe SIS will build two empires. One property and the other as Australia’s largest mortgage broker. At least he is seeking alternative methods to financial freedom and not putting all his eggs in one basket.

C2
“Is it true the more you owe the more you grow until the bank steps in?”

Hi Mel,
Scenario 1 change a PPOR into an IP, borrow the money against the IP and then decide to move back in and claim it again as your PPOR after say 1 week. What is the ATO view in this area. Especially on B&H properties that are never sold.

C2
“Is it true the more you owe the more you grow until the bank steps in?”

Hi All,

I’ve had problems with this copy and paste scenario as well. I wanted to copy my own post and thread and wasn’t able to do so.

PeterM
I also have some problem with (very few) attachments to emails. I can open them but not print. Can you save these on to your comp and then print or can’t access at all?

C2
“Is it true the more you owe…[Read more]

Jake,

In My Humble Opinion(IMHO)

Anyone out there have some free time to make a list of acronyms for the newbies or just add some that you know?

Investment Property
Primary Place Of Residence
Capital Gains Tax
Line Of Credit
By The Way

Who’s next?

C2
“Is it true the more you owe the more you grow until the bank steps in?”

Hi J

It depends on the bank and the country. Lloyds who do same day transfers at about 30AUD a pop, has a 10K single transfer and 50K for the month. The trick is you can open multiple accounts and have that directed to one account to by pass this reporting.

Left Hand drive vehicles are being phased out as imports unless in the classic or…[Read more]

Hi Mel and Bryce,

If you read my post you would have noticed I asked him what part of the States he was from. His terminology for his occupation gave that part a way, but the word job is not common in the States. So a little confusing.

Jmskim,

What is your approximate time frame before you become a partner? Where did you do your fellowship?…[Read more]

Hi Jmskim,

What type of physician are you and where in the states are you located? I would presume you would look more to investing back home (US) before venturing into foregn investments(AUS).

C2
“Is it true the more you owe the more you grow until the bank steps in?”

Hi Dan,

My suggesting is to take each country as it comes. Do your homework and if your happy with the situation there try it. I recently spent 40 minutes in a REA’s office in a foreign country cashed up and ready to buy. They spent 30 minutes explaining to me that foreigners don’t buy property let alone IP’s. I left shaking my head and no…[Read more]

Hi First timer,

When doing your reno’s you might consider living in them at the time of doing the reno. Although if your doimg a full paint job then give your self a day or 2 for the fumes to clear. If you plan a long term reno then rent out your current place at the same time. There are some REA’s that keep short term tenants on their books.…[Read more]

Hi Sebastian,

My favourite hobby is how to get o/s income into Australia with minimal tax going to the ATO.

Terry is right about the 10K limit on each trip. I never come back to OZ alone. The problem is where to exchange the money and get a good price or where to buy OZ dollars before you come.

Also have you checked out the option of being…[Read more]

Hi Jason,

If you’re going to teach o/s, then go to Japan first and get in with one of the more establish companies that have schools in other countries. Don’t go to Korea first until you know the ropes of sorting out visas and contracts. Nearly 90% of the teachers in Korea get rip off in their first 1-2 years. The pay and living conditions are…[Read more]

Hi Mel,

Sorry for the late reply. I’m also intertested in the buy and hold aspects of IP’s. I have good serviceability and equity but lack the time to find IP’s except through internet searches and a couple of REA’s that keep me posted. I’m trying to work out a good way to get a few more IP’s before the interest rates go up tooo high and the…[Read more]

There will most likely be some tax changes but not in the way you expect. When labor changed the rules in regards to negative gearing they didn’t think it out carefully enough.

There is definitely a push at the moment for changes by the ATO, but what measures. The govt wants to increase purchasing power of FHO’s ,but doesn’t want to give this to…[Read more]

Hi Mel,

While we’re jumping between hypothetical and reality what would you do if you had 180K in LOC from equity and a positive serviceability of 2K a month. What type of investments would you look at? Higher deposits on a few 4-5 to make strong +cash flow or smaller deposits on many 6~8 to make average cash flows. Everything is bought on a…[Read more]

Hi Riffraff,

What Mel is doing now makes good sense. If you do your LOC now your equity may substantial be higher than it would be in say 6-12 months. This is only if the bull market as some people are suggesting has come to and end and prices stay the same or drop. Interest rates will most likely rise more but who knows when.

Mel, now that…[Read more]

Hi Kay Henry,

Want to step out on a limb and tell us what percentage do you think would care and wouldn’t? BTW did you follow your parents lead or did you rebel?

I’ve been thinking about that book ‘The Millionaire Mind’. If what he writes is correct, then how many investors on this forum are thinking about creating wealth for their children and…[Read more]

Hi Craig,

I’m a former St.Johns instructor and it’s not tooo bad and can be quite rewarding. Sometimes there are Tooo many rules, regs, red tape and politics. Depending on your level of commitment you can do the ambulance rounds as well. But make sure you don’t mind blood and have a strong stomach.

If you work with animals stay away from…[Read more]

Hi Sunshine,

Sorry, in which way may you miss the boat alltogether [altogether]? I still don’t see why waiting means you may miss out. If you mean not being able to have children there are other alternatives outside IVF. In regards to travelling around with your child backpacking through Europe. I plan on doing that in OZ after I have my…[Read more]