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Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of Cameron JonesCameron Jones
    Participant
    @cameron-jones
    Join Date: 2007
    Post Count: 10
    March 22, 2012 - 8:16 am

    Thanks for your help Paul – I wish to really exit the property altogether so not sure an IC is the way to go for me.

    I don’t have a current listing at the moment – I have only just resigned a 6 month lease with new tenants and will need to wait out the 2 month waiting period before listing it again. In that time I want to have everything ready to go to hopefully do a big push and sell the property.

    It is leased for $370 per week (was $380 but discounted to secure new lease) and am looking to sell for around $320k – $340k. I think that for someone with a small deposit ($20-$40k) the property could be cash flow positive.

    Thanks for all your comments – Will take the approach as suggested by going to agents willing to sell the property for no upfront costs.

    Profile photo of Cameron JonesCameron Jones
    Participant
    @cameron-jones
    Join Date: 2007
    Post Count: 10
    March 18, 2012 - 6:58 am

    Both my wife and wish to start a family and do some renovations to our PPR.

    We have been trying to selling the property for over 12 months now through 2 agents.

    So looking for maybe a different approach. Even though with this market we may need to take a loss with the property.

    Profile photo of Cameron JonesCameron Jones
    Participant
    @cameron-jones
    Join Date: 2007
    Post Count: 10
    September 10, 2007 - 11:41 pm

    Hey,

    I too have an IP on the Gold Coast and had to submit the forms your talking about.  I would definatly agree with Marg in that "it never pays to lie to authorities, they have a knack of finding out and the penalties usually far exceed any monies saved".  And besides the little extra you will pay is tax deductable anyway. 

    Cheers

    Profile photo of Cameron JonesCameron Jones
    Participant
    @cameron-jones
    Join Date: 2007
    Post Count: 10
    September 5, 2007 - 11:22 pm

    I have filled out the registration several times but I can't get it to work

    The registration works but no email is sent to me….

    Any Ideas?? 

    Profile photo of Cameron JonesCameron Jones
    Participant
    @cameron-jones
    Join Date: 2007
    Post Count: 10
    September 5, 2007 - 10:14 am

    I pay 7.5% + GST for my property on the Gold Coast.

    Profile photo of Cameron JonesCameron Jones
    Participant
    @cameron-jones
    Join Date: 2007
    Post Count: 10
    September 4, 2007 - 5:30 am

    Thanks Battleships!

    I didn't have the knowledge I have now and when I got the loan for the IP I requested to use equity in my PPOR for deposit on the IP.  I was discouraged my the Bank Manager and Stupid me listened to the Bank Managers Advise, "you don't need to do that just borrow 100%", and I ended up having to pay mortgage insurance (which I bet the manager recieved a kick back from selling another policy!).

    That ended up blowing out my costs and now the property is even more negatively geared. 

    I'm getting great rental return ($400p/w) and if I could get the loan down it would be a great income provider for the development of my future portfolio. 

    It's just ensuring that my next step gives me the platform to be able to expand. 

    Thanks

    Profile photo of Cameron JonesCameron Jones
    Participant
    @cameron-jones
    Join Date: 2007
    Post Count: 10
    August 29, 2007 - 12:15 pm

    Thanks Richard!

    Are you in South East Qld? & could I contact you to arrange a meeting for more specific advise?
    Thanks again.
    Cameron
    Profile photo of Cameron JonesCameron Jones
    Participant
    @cameron-jones
    Join Date: 2007
    Post Count: 10
    August 29, 2007 - 9:34 am

    Anyone? Please?

Viewing 8 posts - 1 through 8 (of 8 total)