Hi CJ,

I have moved your post to accounting section and changed the title to something that reflects the direction of your post.

In the meantime you can use the forum’s search facility for previous discussions along these lines. The search button is located under the forums button across the top of the…[Read more]

Hi Brendon,

On the information provided in your post – your accountant is spot on.

Derek
derekjones1@bigpond.com
http://www.mononpoly.tic.com.au
0409 882 958
Skype – derekjones2113

Hi Kaz,

Is it the Central Equity ad in the weekend papers of late that has caught your eyes?

Derek
derekjones1@bigpond.com
http://www.mononpoly.tic.com.au
0409 882 958
Skype – derekjones2113

Hi Jomari,

I am not sure if this is what you are chasing – butit may help.

http://www.propertyupdate.com.au/articles/96/1/Property-Market-Update—July/print/96

Derek
derekjones1@bigpond.com
http://www.mononpoly.tic.com.au
0409 882 958
Skype – derekjones2113

Hi all,

Before responding to the ‘question’ please be mindful of Steve’s request as follows;

” Hi,

Just a short note to say that in future, posts that denegrate Neil Jenman will be immediately removed.

In short, while Neil sees fit to unfairly attack people’s character to promote his business, I won’t allow the same to happen here for risk of…[Read more]

HI Mc,

I think you posted this article in the wrong forum – it should almost be in forum frolic.

A large song and dance for …………………………….$36/week.

He is seeking to refinance on two $500K loans seeking cheaper money. If his broker is any good he will be on a professional package (where rates are competetive anyway) and I…[Read more]

Hi TSG,

You are the only one that can answer your question as we do not know enough about you, your finance, your plans, your timelines and so on. All of these factors, and others, will influence your decision.

For me you need to go back and work out why you bought this block of land, is the block delivering this aim (or not)?

If the block is…[Read more]

Financing or refinancing serviced apartments is difficult to achieve at good/reasonable LVR levels (a broker will come along and make a liar of me[exhappy]) and for this reason you do need to carefully consider the benefits, or otherwise, of such investments.

Questions relating to serviced apartments do come up from time to time and usually the…[Read more]

Ooops – it looks like I had a typo in the first line and the auto editor kicked in.[bigeyes]

Derek
derekjones1@bigpond.com
http://www.mononpoly.tic.com.au
0409 882 958
Skype – derekjones2113

Hi Trajik,

A great question – for me the following (in no particular order)

1. My aco<edited>ant is a property investor too. If he/she looks after his/her interests it means I’ll get some of that too.
2. An accountant who has an intimate knowledge of tax as it applies to me – in this case as an investor.
3. Someone who will coontinue to serve me…[Read more]

You also need to establish a direct link between the book (or course or seminar etc) and what you are doing.

Technically, as an investor, I cannot claim expenses if I bought a reno book as I don’t do renos. You need to be able to establish the link if ever you were audited.

People need to remember that just because the ATO paid or billed you in…[Read more]

Hi Aly,

In the current Perth market you have the upper hand.

The number of properties listed in Perth on any given day is at an all time low (which helps create an artificial demand) and as such agents are crying out for listings. They will accept what you tell them because they expect to be able to move a property very quickly.

My…[Read more]

Hi Mcdeyess,

Anti NG’ers will use the ‘hope’ of CG as being one of the reasons why NG is not a surefire way to successful investment for the reasons Terry mentions.

I tend to disagree as such risks can be mitigated by good research and careful management.

I would also add that NG (per se) needn’t confine you to your 9 – 5 job for the rest of…[Read more]

Originally posted by Terryw:
There are some new No Doc lenders out that do not need a ABN. RAMS can even go up to 80% if you can get a letter from your accountant stating you have been self employed for more than 2 years. OR it may be possible to argue that you are a professional investor (no ABN needed) by the number of properties you…[Read more]

Hi Markat,

Reading your post – you have assets valued at $800K and debt of $130K – is this correct? I will use these figures to demonstrate what you could do.

Having a large asset base and good equity position means that additional borrowings are relatively easy to secure. A good broker can assist here.

As Richard has indicated no-doc lenders…[Read more]

Hi Jules,

Please note I have no formal qualifications but…………

Originally posted by JULES1:
Hi
I live in my PPOR, and want to turn it into an IP. However before I get to that stage I want to lower my PPOR mortgage interest by parking some funds in the MISA account.

When I change it to an IP, I want to remove the funds from the MISA and…[Read more]

Hi Balniks,

I believe you need to rethink your ‘adviser’ what he/she is advocating is tax avoidance which is illegal – sure minimise your tax but don’t avoid it.

There are sufficient legal avenues available to most tax payers which enable them to minimise their tax without havng to resort to the strategies your ‘advisor’ is advocating.

Start…[Read more]

Hi Elka,

Stuart Weymss wrote an article along these lines for API – a copy of it is available on his website

http://prosolution.com.au/free_articles/articles.php

The article in question is down the page a little so you will need to browse a little.

Cheers

Derek
derekjones1@bigpond.com
http://www.mononpoly.tic.com.au
0409 882 958
Skype – derekjones2113

Hi Daniel,

You need to factor in the (likely) maintenance costs, the validity of the rent received (is it out of wack with the norm in the community), what is the economic stability/outlook like for the community, vacancy rates, growth prospects, value stability, finance issues (will bank/mortgage insurance provider recognise 95% as suitable…[Read more]

Hi all,

I would suggest that all investors need to keep track of income and expenses for their own properties, irrespective of the size of their portfolios. Doing this will keep your accountancy bills to a minimum and will allow your accountant to work with you in such a manner that they can tweak your claims (within legal frameworks) rather than…[Read more]