Forum Replies Created
Pardon the ignorance, I have not actually read Steve’s book yet, but surely lots of those 130 are wrapped? If this is the case, you don’t need to “look after” the properties, as the new tenant/buyer will.
Dan.
If you want an extraordinary life you have to be prepared to do things that ordinary people aren’t prepared to do.
Michael,
No, there is no difference in stamp duty if you bought you 5 properties in one day or 5 years, you pay a certain percentage on closing, regardless.
The one thing you with a brand new property (not sure if you can do it with an old property) is minimise stamp duty, by setting out in the contract you are paying X amount for the land and /y amount for the actual property.
Dan.
If you want an extraordinary life you have to be prepared to do things that ordinary people aren’t prepared to do.
Ana,
In answer to your question “Can I even do this?”… yes. Can be done a couple of ways. You can either re-finance the home you own, and use the cash as a deposit, or you can just usevalue the equity you already have as a second security for your loan. Note that either way they will proberbly only lend you up to 90% (depending on your situation) of the value of your property.
Dan.
If you want an extraordinary life you have to be prepared to do things that ordinary people aren’t prepared to do.
Housesonly (or anyone that knows)
Please explain the 20% or 40% denisty thing? [?]
Dan.
If you want an extraordinary life you have to be prepared to do things that ordinary people aren’t prepared to do.
Same question for Sydney or there abouts please. Not so fussed on the $100,000, but does anyone know anywhere in or near sydney where you can buy a property that is positively geared from day one?
Dan.
If you want an extraordinary life you have to be prepared to do things that ordinary people aren’t prepared to do.
Here is a different point of view for you. If -ve gearing is abolished, here is my prediction of what will happen…
1) Rents will rise. Why, because initially less people will be investing, and those that are will need to charge more to cover thier costs (and can because there is less supply)
2) Due to increased rents, not many properties will even be negatively geared anyway.
3) Since properties are now +vely geared, realestate investors will buy more realestate (they no longer have the cah flow problems they had before)
4) So after an initial slow of property prices, they will soar again.If I am right, all the government will have achieved, is making tenants pay more rent.
Dan.
If you want an extraordinary life you have to be prepared to do things that ordinary people aren’t prepared to do.
Helen,
Taz Investor’s response was pretty comprehensive, the one thing I would add to that, is that the ATO are not silly, you can’t buy and sell a property every month and call them all PPOR. There is no hard and fast rule, as to how much you can get away with, i think it is up to someones descresion. But if you only do it once, you won’t have a problem, you could sell it as soon as you like. It is a similar situation to the first home owners grant. How long do you have to live in the house? Again, there is no fixed rule (unless they have changed it since i last read).
Dan.
If you want an extraordinary life you have to be prepared to do things that ordinary people aren’t prepared to do.
I think you can actually get more than 65% LVR if you know where to look. Have a look at
http://www.yourmortguage.com.au
I is a really good site for comparing loans.Dan.
If you want an extraordinary life you have to be prepared to do things that ordinary people aren’t prepared to do.
Is it written anywhere, how many posts you have to post to get more/change colour stars? If not, does anyone know?
I know it is a bit juvenille… but i want more stars [
]Dan.
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