Forum Replies Created
Thanks Doug
Any suggestions as to which one(s) to read?
markk
Happy Hunting
http://www.kentscollections.comHi Spanky
In Qld the Dept of Natural Resources can tell you everything you want to know for a search fee of around $10.00 for each service. I am sure NSW has a similar system.
In my game (commercial collections) there is a site http://www.gxs.com.au that allows you to search what you need online but you may need to be a business that has a need for their services before they will give you an account. You can but ask.
markk
Happy Hunting
http://www.kentscollections.comHey J
That has a lot to do with whether you are both self employed or if you both receive employer contributed super. If the latter, I understand that your options are limited but if you pay your own as a result of self employment, you can claim a tax dedeuction of $5000.oo then 75% of the balamce in a year.
There are limits (and this is a pretty broad view) so check with a reputable finacial adviser BEFORE you sign a contract of sale.
markk
Happy Hunting
http://www.kentscollections.comActually the other movie with John Cleese, Jamie Lee Curtis and various animals was called “Fierce Creatures” set in a zoo-great movie too (But not as good as “Wanda”)
markk
Happy Hunting
http://www.kentscollections.comSimon has the right site but without the client’s WRITTEN authority you can’t search their credit history.
Big fines etc if you do so. Get their written consent.
markk
Happy Hunting
http://www.kentscollections.comFAQs address this problem
Have a look in the left column on this page
If not try the ‘contact us’ page and remove your listing there
markk
Happy Hunting
http://www.kentscollections.comI’d suggest you get some real advice from an acountant who specialises in IP investments.
As a general rule of thumb though if you have earned income from your previous PPOR the tax department will look at the difference in what it was worth when you moved compared to its value when you sell and tax you on the difference.
As for making your old IP into PPOR, same principal applies (I guess) except in reverse.
Like I say that is my belief but I suggest you get someone at the ATO or your accountant to verify itverify
markk
Happy Hunting
http://www.kentscollections.comHi Calder
What was wrong with the second hand dealer?? Did he not pay or was there a problem with the finance because of this
markk
Happy Hunting
http://www.kentscollections.comHi guys
I am on the Gold Coast too. Am interetsed in your ideas of good IP areas if u find them
markk
Happy Hunting
http://www.kentscollections.comOriginally posted by MiniMogul:I agree. Lomas is about exciting as an Anita Bell book.
And of course Steve isn’t God, God has his own web-site
God also has pop up windows…
Thanks MiniMogulmarkk
Happy Hunting
http://www.kentscollections.comHi Pickworth
I was interested to hear your comments about capital growth. I understood that because of the nature of industrial land, the property values never did much but were rather based on rental returns.Over what period and what rate is your capital growth (and where just a matter of interets)
Anyone else’s reply is also welcome
markk
Happy Hunting
http://www.kentscollections.comThanks Jeff
It’s always nice to hear some positive results and get some beneficial input
markk
Happy Hunting
http://www.kentscollections.comHi Kttm,
All of the above is true. You apply for anything that gives you credit it will land on your CRAA. Dissappears after 7 years though if you do not default. The bank should be looking at any defaults, not just your applications(although I know they are told to ask why?)Point that out to them also-NO defaults and all those applications.
For your own records you can get a copy of your credit report for a few bucks at
http://www.baycorp.com.au/Remember you are the boss-if one bank gives you hassles because of your prowess in property dealings, talk to someone else who appreciates you for what you have achieved.
Happy Hunting
markk
Happy Hunting
http://www.kentscollections.comHi Yack
Just reading your posts over the past few months about your tenant.
Debt Recovery is my profession. Just to clarify a couple of points (for yourself and others)
1) You cannot just “give someone a black mark” against their credit record. This only happens 2 ways.
First if you default on a finance arrangement (usually with a bank or a credit provider such as GE or AGC ) as they are members of-CRAA (now Baycorp)
http://www.baycorp.com.au
(you can order a credit check on yourself from here as well for those interested)and secondly by getting a court judgment. A tribunal finding is not a judgment but can usually be regsitered as one if there is a monetary debt owing. That is uusally just filling out a form at the court (in Qld anyway)
If you want to chase her in Qld (when you find her) that judgment has to be registered in a Qld court (costs about $80-$100)and then you can get an order to have her examined as to her ability to pay the debt (about $130).
The only real public access information to enable you to locate her is the Electoral Commission but she has to be on the electoral roll to do so. As a result of the recent election these are updated but she stil has to have registered to vote.
My suggestion is to make sure your tribunal order is a registered court judgment (just registering with a collection agent doesn’t automatically achieve that) then go to the Electoral Commission and do a search. It’s free. I don’t believe you can do internet searches yet with them.
Happy Hunting
markk
Happy Hunting
http://www.kentscollections.comHi David
Despite what you have heard, size usually doesn’t matter too much. If you use the whole room for an office (and nothing else) that is the proportion of the rent you should be able to claim. You may find that your business grows enough to warrant another desk, a few filing cabinets, storage space and a waiting area for clients so provided you aren’t “sharing” that space with the tenant (you) then you should be fine.Welcome back to Oz
markk
Happy Hunting
http://www.kentscollections.comHave seen it in most bookstores and the major chains also carry it (myer, BIG W etc)
Shouldn’t be too hard to track down
Happy hunting
m
Hey Misty
As long as the property remains an IP you can claim the renos. Whether they are a capital deduction and therefore claimable as a deduction on sale or “repairs” and claimable now is a matter for your accountant.
As far as when to do it goes, it is always a good idea to keep the place in reasonable repair all the time but if you have a vacancy and want to try and increase the rent with some major renos, the time to do it is when its vacant otherwise you have to get the ok from the tenant and maybe reduce the rent for the inconvenience.
Happy hunting
m
Hi Jamie,
You might be lucky enough to grab a deal where you don’t need any or much improvement. Don’t overindulge in spending doing it up if it isn’t needed.Remember the type of area will dictate the max rental return you are likely to achieve. If it is a family area you also need to consider things like a fully fenced yard, will you accept pets and aim for that sort of tenant. Nordicskier comments for my money are right on the mark particularly with bathrooms and kitchens which the wife will take issue with. If they are rundown you can re-tile and re-paint pretty cheaply and that gives a whole new look.
Haven’t done a flip but I know of some who have. Hard work to do renos and on sell in a short period for a big margin in today’s market-but never say die if you get the right property at the right price.
And your 16-fantatic
Happy Hunting
m
Thanks for the input everyone. At least i have some direction before I make any decisions.
qwerty, (or anyone else) what is SANF? apparently I need a high one!
good hunting
m
