Dazzling replied to the topic Is anyone doing it tough? in the forum General Property 18 years, 7 months ago
“Is anyone doing it tough”….you ask…
Too bloody right !!!
I’ve just had to give the chauffeur a right earful. He zoomed around the promenade near the waterfront mansion too bloody quickly, and caused me to spill the caviar and glass of Dom all over my Armani suit.
I’ll be docking the laundry bill from his pension fund. To speak nothing of…[Read more]
Dazzling replied to the topic investing in property development in the forum Help Needed! 18 years, 7 months ago
I’d concentrate on the three biggest elements – revenue, control and time.
1. Revenue
How robust is that $ 4.165 MM revenue ?? What’s your margin of error on this figure…..± 10%….± 15% or is it more like -30% and +5%……
What’s behind the revenue figures, and are you intending to sell to suckers, or hard nosed property savvy buy…[Read more]
Dazzling replied to the topic Help in minimising land tax please. in the forum Legal & Accounting 18 years, 7 months ago
I believe in WA you can set up different structures like 99/1, 98/2 title ownerships and that will give you a new threshold everytime however other states will just aggregate it.
Hi asdf,
I think I was responsible for erronously introducing this train of thought way back in the conversation about a year ago. We thought we were onto a winner…[Read more]
Dazzling replied to the topic Using IP equity to pay off PPOR in the forum Finance 18 years, 7 months ago
Or is there another way?
Hiya whatson,
There’s always another way……
Let’s say both you and your wife own the IP as joint tenants.
Why not sell the wife’s half share in the IP to someone you are close to – say yourself.
You take out a big mortgage on the IP (load it up to the hilt), pay stamp duty on the half share transaction and then…[Read more]
Dazzling replied to the topic A difference in perception!!! in the forum Value Adding 18 years, 7 months ago
Really excellent stuff Xenia. Well done to both you and your husband.
Getting off your collective bums and getting out there in the real world, mixing it with real people and creating both cashflow and capital growth…..a shining example to all of those sitting behind their computers in their comfy chairs saying “I can’t find anything like…[Read more]
Dazzling replied to the topic Help in minimising land tax please. in the forum Legal & Accounting 18 years, 7 months ago
Hiya Elkam,
Looks like you are struggling with an issue that is very very large and looming as the props. get larger in value.
The SRO is a large and difficult beast to grapple with….escaping their clutches is nigh on impossible.
We were in your position about 3 years ago, actually paying about $ 36 K p.a. in Land Tax every year. It was…[Read more]
Dazzling replied to the topic Our next fling in the forum General Property 18 years, 7 months ago
Well the Vendor is supposed to give their decision on our Offer tomorrow. Apparently we have some stiff competition from an Eastern States institutional fund, but they are playing big boys ‘hardball’ and their numbers are lower than ours and trying to crunch the Vendor using their considerable leverage.
Hopefully the Vendors see reason and take…[Read more]
Dazzling replied to the topic Dealing with Negative People in the forum Help Needed! 18 years, 7 months ago
Maybe Dazz did know but he’ll never admit it and I got a great laugh from it…
OK, fair enough, I’m sprung…..I knew what you meant….good to throw a bit of comic relief into the fray….
From our side, we found total support from both sets of parents whilst we were investing in residential stuff, with conversations and plenty of to-ing…[Read more]
Dazzling replied to the topic Should I sell our family house and realise 750k? in the forum Help Needed! 18 years, 7 months ago
Hi Fishman,
You have taken the time to detail quite a bit about your particular circumstances. Any good FA would want a truckload more details before they ventured any comment whatsoever…..but fortunately out in cyberspace we are not bound by those ridiculous legal restrictions….so I am free to comment at will, knowing that you can’t come…[Read more]
Dazzling replied to the topic Dealing with Negative People in the forum Help Needed! 18 years, 7 months ago
a poor person that has won a $10 lottery ticket, will always be poor
Excellent point Dr X….that $ 10 would hardly buy a packet of cigarettes and a beer to celebrate. [biggrin]
Dazzling replied to the topic to buy family home or investment property in the forum Help Needed! 18 years, 7 months ago
Our strategy is simple,” 4 green houses, one red hotel”. The key to winning in the game of Monoply is to have as many of these red hotels as possible, which increases your chances of receiving income (rent) everytime someone lands on your square.
Very true…..and a perfect tactic for the game of Monopoly, however real life is not quite like…[Read more]
Dazzling replied to the topic Monopoly in the forum Forum Frolic 18 years, 7 months ago
Cheers Mapleleaf…..
We have a group of about 20 or so Russian nurses over here that we sometimes get to dance with……they get bored as we do. Most of my colleagues who are all grandfathers, have a little trouble doing the twist and tango nowadays, but it’s better than anything else on offer.
Seeing women’s smiling faces and hair is a…[Read more]
Dazzling replied to the topic Vacant block value in the forum Help Needed! 18 years, 7 months ago
The property is not a vacant block but rather a PPOR in the suburb of Queens Park which was purchased in September 2005 for $265000. The question now posed to me and to the forum is…
If the owner receives approval to build say 3 residential unitsHi Pud,
In principle you seem to be on the right train of thought with this line of thinking.…[Read more]
Dazzling replied to the topic I Need some advice. in the forum Help Needed! 18 years, 7 months ago
Dunno Don….with you being an ex-cop, I’d have to bow to your greater skill and knowledge in that area. I just enjoy riding the bikes that Mr Davidson invented way back when.
I currently work with 5 US expats, ranging from 57 up to 64 yrs of age. 3 engineers, 1 accountant, and 1 doctor…..all ride Harleys….all are good family men and none…[Read more]
Dazzling replied to the topic I Need some advice. in the forum Help Needed! 18 years, 7 months ago
I think, Dazzling, you need to take a chill pill.
You’re absolutely correct Wylie – fully agreed. My different frame of reference is unfairly being applied back to residential tenants….it simply doesn’t work does it ?? Hey, you reckon this one is big enough, will it do the trick…. [chill]
I admire your posts and success, but…[Read more]
Dazzling replied to the topic Monopoly in the forum Forum Frolic 18 years, 7 months ago
Worked every day, never saw the wife or the kids….haven’t heard from them in 6 or 7 days….I think they are somewhere enjoying life.
Haven’t even seen an Easter Egg, they aren’t too popular over here in this Muslim country.
There, that should cheer everyone else up. [blush2]
Dazzling replied to the topic I Need some advice. in the forum Help Needed! 18 years, 7 months ago
Rant mode on….[angry2]
Ahhh, yet another little quirky residential story, one of many that we as investors used to put up with before they all mounted up and broke our camel’s back.
The money side of things is irrevelant – isn’t it kessud….you are only concerned about the due process of it all, and how best to serve your loyal tenants…[Read more]
Dazzling replied to the topic Building inspection report – feedback in the forum Help Needed! 18 years, 7 months ago
Lee,
The clauses in standard RE contracts, are typically “walk away clauses”, unless there is a specific dollar figure mentioned in them.
By “walk away” clauses, the condition simply gives you the right to tear up the contract and walk away if you aren’t fully satisfied. What the clause doesn’t do, is give you the right to haggle and discount…[Read more]
Dazzling replied to the topic Ready to Buy in the forum Help Needed! 18 years, 7 months ago
Sue,
You are in a marvellous position – equity wise.
The deal you are looking at is 8% nett yield, which is probably higher than the cost of funds needed to fund the deal – hence +CF. You seem to have enough equity behind you to borrow the lot, and hence it’s a “put nothing in to acquire and continue to put nothig in when owned” type of…[Read more]
Dazzling replied to the topic Selling in the forum Help Needed! 18 years, 7 months ago
Excellent response Derek…..people would have to pay $ 100’s of dollars to receive advice that wasn’t half as good as what you just gave.
Sue, be very careful about ‘underselling’ when shuffling….it may save you stamps and CGT….but of course there is a very large and powerful organisation on the other edge of that coin you are flipping…[Read more]
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