Forum Replies Created
Ternerd
There are a million threads about Derivex on this site. Do a search and you will be much better informed about the whole thing
markk
Happy Hunting
http://www.kentscollections.comHi Ian
I have always understood that the prices on the Bay Islands were reasonable but there doesn’t seem to be much chance of Capital gain there-they have been reasonable for years.
I think the reputations were tarnished a few yaesr ago when some RE agesnts were cauf=ght selling blocks that were only land at low tide.I hope your block is above the high tide mark[biggrin]
Who know. Someone will start a rumour about bridges again and the prices will skyrocket.
Good luck with the house though. A great palce to live if you don’t mind the travel
markk
Happy Hunting
http://www.kentscollections.comHi Julian
The old Qld system uses
Volume xxx Folio xxx
but more often now you see
Lotxxx on RPxxx usually accompanied by a title reference number xxxxxxxxIf you are having trouble try these resource oroviders (taken from the DNR website, the deoartment which handles properties in Qld
http://www.nrm.qld.gov.au/products/distributors.php?type=Real-time+Onlinemarkk
Happy Hunting
http://www.kentscollections.comOriginally posted by bruham:The Manly rugby league club has a good hip and shoulder man in John Hopoate(Hoppa)available,as captain. He will put plenty of back bone into them.
Not for long I suspect-and good riddance
Go the Broncos
markk
Happy Hunting
http://www.kentscollections.comHey Chris
I just signed a deal to do the same but it is also my first so I can’t help you much but it sounds like you are looking in the right direction.
All i can suggest is that you put the terms in writing to the RE agent once you have made up your mind and cover all aspects in
the letter:
Offer
Deposit (make it enough to cover the agents commission)
Finance Period
Settlement Date
Early accessGood luck to us both.
markk
Happy Hunting
http://www.kentscollections.comDitto Yack
Draw your line in the sand now espescailly if you are the only one in the game and it sounds like it from the offer/counter offer scenario going on.
See if the agent chases you tomorrow-that will be a telling point.
You will know its value to you but limit it to that.
Good luck-let us know what happens
markk
Happy Hunting
http://www.kentscollections.comYou can always change your number and have it unlisted at that time (that way it should not make it to a mailing list)
OR get caller ID and bar the bad numbers or just don’t answer the “Private” numbers
markk
Happy Hunting
http://www.kentscollections.comJust get an unlisted number. Had very few since we did that. Unless you are on some database which is being distributed (illegally under the Privacy legislation), they usually won’t get you
markk
Happy Hunting
http://www.kentscollections.comHi Anne
Where are you looking ? as the processes will vary from state to state
markk
Happy Hunting
http://www.kentscollections.comHdog (I don’t think we are related)
Welcome to the forum!!
If you search the threads there is plenty of input from some of the more knowledgable espescially about Trusts.
cheers
markk
Happy Hunting
http://www.kentscollections.comjhopper
Just letting you guys feel good for a while. Hell, if the lions won EVERY final, you would all give up and go home[biggrin]
markk
Happy Hunting
http://www.kentscollections.comHi Collie
Generally accessing the equity is by refinancing your current loan either with your current lender or through another You obviously need to know that the property will actually value up enough ( a real estate assessment is not the same as a valuers valuation) and then if you qualify financially, ie the bank is happy you can repay the extra loan, hey presto, you can access the equity.An “access equity” loan is usually just a marketing name given by some lenders so they can nab your business.
I would however suggest that because of the fees etc involved that unless you have a good use for the $15000, that you wait until you have more equity. You will usually have to pay an application fee, mortgage duty, discharge fees (if you refinance through another bank)etc etc and this will eat away at the money you borrow.
cheers
markk
Happy Hunting
http://www.kentscollections.comActually I remember Steve canvassing this area briefly in one of his books. So am I to understand that if I (using eeshole’s example) sell a property for $150,000 that I purchased for $100,000 (forgetting the 12 month 50% tax allowance for a moment) then I pay tax on the $50000 profit. If in the meantime I have obtained depreciation allowances for tax purposes of $10000, will I then pay CGT on $60000 ($50000 profit plus $10000 depreciation already claimed on tax)??
markk
Happy Hunting
http://www.kentscollections.comHey jhopper
Sorry it took so long to respond but I was cooling off.
Lets wait for the fateful day in September-then we will see what happens to EVERY team who plays the Lions
cheers[biggrin]
markk
Happy Hunting
http://www.kentscollections.comI thought the whole take on the positive cashflow thing was that it would in time replace your “normal income earning job”. That being said, if you do not have another income against which you can claim deductions then surely if income (rent) less expenses (rates, interest etc) gives you a negative figure you have negative gearing. All that makes it “positive” is the benefit of the deductions you gain from the depreciation, interest etc offset against the income you earn from your “usual job”.
My understanding of Steves attitude towards neg gearing is that despite how the tax offset effects it, you still have to work harder in your “usual job” to make more money to pay for that negative aspect.
Thw idea is to have more money coming in than going out AND quit your “normal job”.
markk
Happy Hunting
http://www.kentscollections.comI know this upsets some of you Mexicans-but go the Brisbane Lions
markk
Happy Hunting
http://www.kentscollections.comHi Bwendan
To keep it simple-pos cashflow (Steve’s idea) occurs when the income from the property (eg rent) over a period (say 12 months) actually exceeds the outgoings on the property (interest, rates, insurance etc)
Pos Gearing is usually a “paper” gain. The rental income is actually less than the outgoings but you then take into account depreciation factors (this is where a quantity surveyor can help in valuing the house fixtures and fittings at the time of purchase) and “on paper” with all your deductions taken into account you are actually ahead financially hence positively geared. There are a few issues to consider such as the age of the improvements etc but it can help to reduce income tax.
Hope that makes it a bit clearer. Margaret Lomass is actually very good to listen to and her concepts seem accurate but she still pushes her businesses as part of the whole concept. Still if you get the opportunity go and listen. There was no hard sell by her just food for thought.markk
Happy Hunting
http://www.kentscollections.comHow’s that saying go? if it’s too good to be true it probably is!
Greed is a powerful force
That’s two long and involved posts that say little more than words.
Hey Getting There-bring it on. I would just love you make me eat my words.
markk
Happy Hunting
http://www.kentscollections.comIf it is a deposit on a purchase, it depends on the terms of the contract. Usually it will go to a solicitor or the RE agent.
Why do you want an accountant to hold it?
markk
Happy Hunting
http://www.kentscollections.comFor those of you interested, apparently Homeside (who is associated with NAB) will do a no break fee deal on a lo doc lend up to 80% LVR with LMI. Thanks to my broker for finding this out
cheersmarkk
Happy Hunting
http://www.kentscollections.com
