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Hi macwa, . Check your private messages
Hi gattaga,
Had this conversation with Scott-Depreciator, last night and my understanding was that repairs done within the first 12 months of purchase are not claimable Tax Dept says you bought it like that –tough luck!! I believe that because it is your place of residence then nothing would be claimable anyway….And repairs done after a tenant is moved in must be seen to be from damage caused by that tenant.
Cheers LenHi Lou,
Have not read this one completely as yet but I thank you for your efforts to the investing group with the info on planning.Both at the last meeting and at the yahoo group.
Cheers LenHi Dobby,
Yes ecatt is correct.
We just had a meeting at Petersham on Sunday last.
I believe the next will be in the new year and maybe also at Petersham. Drop me a Personal Message using the info on the post if you like for further discussion.
Cheers LenGreetings All,
One other thing to come from the Sunday meeting where a representative from Chan and Naylor (also spruiking their own special “Property Investing Trust” ) gave a presentation was that it is superfluous to use a company as a trustee. The spokesperson (also one of the partners in the firm) claimed that a personal trustee is quite okay and offers the same protection.. Seems just more fuel for the “confusion fire” regarding trusts and the like.
COMMENTS ????
Cheers lenGreetings All,
We apologise for having to leave early.
However what I did hear I enjoyed, some interesting ideas came up and I was sorry we missed your presentation and thank you for the effort Lou.
Thank you to Roy for the guest speaker and I hope all got something from it.
Still pondering which way to “jump”, structure- wise and I feel for those others who may be in the same boat.
Thank you yet again to Carl(mowerman) for the organising and closing.
Cheers for nowHi vivyen,
Have not a lot of advice because it will end up being entirely up to how much you WANT the property
HOWEVER
I do resent you using old and greedy in the same sentence—
I am not saying there is not some of US out there —I just do not like to read it in the same sentence.Anyway good luck with it.
Cheers LenWas my genuine question too hard about how to calculate percentage return, when none of your own money is outlayed for deposit, fees etc at all and the property bought from equity entirely.???
If the “gurus” cannot work it out how the heck am I supposed to???In my circumstances, I agree “positive from day one” BUT !!!
Lets assume pay 24k dep for 120k property earning
330 per week and S/D and solicitor fees come to 2500.
Total outlay = $26500
Interest on borrowings total $124/week
Assume rates and agent commission =$110/week
Then property returns $106/week ($5112 per annum)
Therefore return is 19.29% (5112/26500*100)
If this is correct , and using the same costs etc, what happens to the % return if you do not put any of your own money in to the purchase but instead buy totally on Equity–even down to the fees and charges .???Interest would now be $158.30 /week on total purchase and costs , and rates etc would be same therefore netting only $61/week ($3208)
on outlay of ZERO!! How do you work out the %return???
Cheers LenGreetings All
Roy, my thoughts on the number of presenters at this upcoming meeting is that we keep it at two.
That is :your trust person and Louise.
I think that as we have seen before, there is heaps of discussion and questions after somebody speaks and I can see the same thing happening at the November meeting and I believe that is what we are there for.
Soooo, I would like to hold Richard over until the first meeting in the new year as I believe I also have another presenter lined up for that one as well. And that would give us two at that one also.
3pm on 27th At Petersham—All Welcome!!
Also want to keep this topic open.
Cheers for now LenGreetings All,
And Yes Airlie Beach is beautiful this time of year !!
Lou, Are you right for 27th, and Roy are you also right with your person????
Cheers for now LenHi dammit,
At 57 years old and a view to retire 3 yrs, we have gone for the 10 properties idea.
As you have read , nobody can tell you how to invest because it is allvery personal .
We have gone for income over capital gain and the next person will tell you something different.
However you crunch the numbers yourself on Dad’s .
Good Luck and Cheere LenHi Sam,
Try a caravan association etc.
I know they ,or similar, can hook you up with parks if you are the one wanting to look after parks for owners when they go on hols etc. They may also be able to hook you up with people who want to manage more permanently. ‘
Cheers LenWelcome Sam,
Just rock up and make yourself known.
Maybe best not bring Tim Tams. At a previous meeting the goodies did not get eaten, and it is at a club.
We now have Lou providing us with info and Roy bringing somebody on “trusts”.
Coming along nicely.
Cheers LenLet’s leave it at 27th.November 3pm at Petersham RSL.
We will never please everybody all the time.
Also, those that volunteered, could somebody get back to the group with a definite starter for a presentation on the day as soon as possible Thanx.
Cheers LenWith apologies to Raymond,(chordq)
I have had some feed back negative to 27th November plus what has been entered here so just to confuse Toni and Carl at Petersham, I am requesting that we make firm booking for 20th November at the same place of course.
I did suggest 27th but a woman has a right to change her mind, or so they tell me. It is just that I do not know what my excuse is!!!Not being a woman.Anyway enough of this “scotch” talking.
We already have a volunteer to provide information on research and stategic developments and where to find the info. This will be done using the projector( we hope ) so already we are off to a flying start for entertainment.
There was a lot of desire for an accountant or trust person to attend so we will see how we go there also. A couple of attendees volunteering to drum one up.Already shaping up well.
Cheers for now LenHi kamal
When you say you “tried” the Hunter Region ! what doyou mean/// Did you check Real Estate .com or domain.com and then say There Is none??? Or did you get out there and have a look??“YES VIRGINIA” there is a Santa Clauses but now he is a little harder to find.
Why limit yourself to Hunter, How about a bit further out or further south west. Is there a reason you want to stay around the Hunter Region????
Cheers for now LenHi lou,
I am sorry I butted in last night and suggested 27th Nov. as soon as I got home on the forum (Only suggestion mind you) and Roy on the other post has suggested Saturday.
However you particular was the member who I was thinking of when I mentioned more than 1 hours trip home after the meeting. As toni said I am also impressed with your quest for knowledge.
Cheers for now LenHi regrow,
I am wondering why ANZ would need any more proof of saving than the fact that you have been paying a loan down.
I must admit I have not had the need to worry about that aspect but would imagine ANZ would not know that you were not paying every cent you had available off your existing mortgage.Which really is hte best sort of saviongs. Sorry it may be of no use , this info, and would be interested to hear further how you get on
Cheers for now LenGo the bradshaw, But I thought we were meeting after the date you specified and do we have to bring along our packages as well ????
Len
