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  • Profile photo of DEVILZDEVILZ
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    @devilz
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    Post Count: 33
    December 19, 2014 - 9:23 am

    This is a dilemma Catalyst. This situation could be seen from either side: Replacing “like for like” (lawn for lawn) or seen as Repair – because as I stated before lawn is damaged and basically doesn’t exist any more and affects its rental potential (got few comments from potential tenants about the state of lawn)

    Profile photo of DEVILZDEVILZ
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    July 22, 2014 - 4:07 pm

    Hi Richard,

    I moved to Gold Coast so I used your advice and booked appointment with Gold Bussiness Group for tax return this year

    Thanks,

    Slavik

    Profile photo of DEVILZDEVILZ
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    April 6, 2013 - 10:54 am

    I am new to Mackay as well. 3 months here and looking for PPOR. I can tell prices went down for sure compare to what I saw before New Year.but Jotham is right it is not very stable atm due to mining industry… the house that I like to buy was $550K in October but only $485K now…

    Profile photo of DEVILZDEVILZ
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    December 10, 2012 - 4:50 am

    ok thanks.

    so I leave everything as it is and just need to do Valuation for this Unit (ex PPOR)  that became IP recently?

    Profile photo of DEVILZDEVILZ
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    December 10, 2012 - 4:37 am

    ok I am silly. Thanks Terry

    …went to GOOGLE to get more info about CGT….

    Profile photo of DEVILZDEVILZ
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    December 10, 2012 - 4:27 am

    thanks.

    all comments make sense

    but what if in the future I decide to sell one IP which has a lot of equity? in this case if I increase LVR to max and transfer equity to another IP I will save on CGT. Is it right ?

    and another point why I want to do this: That IP is in mining town so it can drop value at some stage (maybe not) so I rather get equity from it now while it is on the top than later.

    Make sense or I am silly?

    Profile photo of DEVILZDEVILZ
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    December 9, 2012 - 12:29 pm

    I have 2 IP. One is CF+ with a lot of  equity  ~ 150 K ( ex PPOR) and another one is Negatively geared with 0 equity.

    I want to have two CF+ IP.  yes they are both under my name.

    Profile photo of DEVILZDEVILZ
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    December 6, 2012 - 1:36 pm

    I know it is bad ( I made enough mistakes to understand that) that's why I am here to learn basics and fix it.

    My loans are separate but with one bank and cross-collateralised.

    Correct me if I am wrong: if you are with one bank and your loans are x-coll BANK see them as one big loan. (like in my case: IP #1 is around $320K and debt is $170K so LVR is ~ 55% and IP# 2 is around $450K and debt is $447K so LVR ~ 100% where BANK see them as one big loan with LVR ~ 75%)

    Profile photo of DEVILZDEVILZ
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    December 6, 2012 - 11:37 am
    Scott No Mates wrote:
    Take the $20K and put it all on black.

    no wonder you have no mates Scott with these kind of advises lol

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    December 6, 2012 - 11:35 am

    hmhm true, because it's cross-collateralised it is ONE BIG LOAN isn't it? and both loans have same interest rate

    Profile photo of DEVILZDEVILZ
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    December 6, 2012 - 6:46 am

    as I stated from the start there is a Split IO loan:  $400 K locked and $47 K variable with offset so I can put money there.

    but $47 K loan and Unit loan $170 K they have same interest rate @ 5.79

    Profile photo of DEVILZDEVILZ
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    December 6, 2012 - 5:55 am

    Thanks guys,

    The highest is Brisbane one – locked for 3 years ( 2.5 left) @ 5.89

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    December 6, 2012 - 4:31 am

    thanks guys

    I am thinking to put money to offset account # 2 to reduce negative gearing on Brisbane house.

    Profile photo of DEVILZDEVILZ
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    December 5, 2012 - 12:44 pm

    hey,

    everything is IO. figures are correct. House is 4/2/2 in Narangba QLD. Land is 400m2

    Profile photo of DEVILZDEVILZ
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    December 5, 2012 - 11:48 am

    NAB 0.20 only :(

    Profile photo of DEVILZDEVILZ
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    November 30, 2012 - 4:09 am

    thanks Terry I got concept now :)

    Unfortunately so many people do this mistake – it;s not funny! Even accountants can't get it right !

    I asked my accountant can I put money back and this is her reply : "Yes, that will be okay. No problem with apportionment if it was only a couple of weeks."

    Any comments?

    Profile photo of DEVILZDEVILZ
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    November 30, 2012 - 3:50 am

    lol and he has crystal ball aswell

    Profile photo of DEVILZDEVILZ
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    November 28, 2012 - 10:01 am

    what if you redraw money from your PPOR to offset account and realise you made mistake and put them back in couple of weeks ??

    still 100% tax deductible?

    Profile photo of DEVILZDEVILZ
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    November 28, 2012 - 9:40 am

    Toyota Supra and Jeep wrangler on its way for wife :)

    Profile photo of DEVILZDEVILZ
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    November 28, 2012 - 9:35 am

    I was very interested in working with PRE, but after some research I decided to go on my own. They have very interesting and cool advertisement strategy and it works. They are very aggressive and growing fast. it is a problem !

    I think it is pretty simple: it is a business. The goal of any business is to make money ! With growing staff they need more people to sign up. Yeah $10 K sounds like not a big loss when you can make $100 K. But-they are one stop shop and do everything for you. clear sign of spruiker.

    If you go ahead – you get their opinion about value, future, purchase price of investment, etc They sell their own houses and units in dodgy spots ( mining towns, etc) It might work and might not so you always have 50/50 chance if you prepared to risk :)

    So 100% agree with above: Due diligence is required with everything these days!

Viewing 20 posts - 1 through 20 (of 29 total)
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