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This sounds like insurance needed to cover the quality of the building workmanship. I haven’t had to take out this sort of insurance but I would try an insurance broker like ION. If they do not have it they would know where you can get it. HIA insurance service might be able to advise you also . see http://www.hiainsurance.com.au/productgroups/products/publicproductsliability_ownerbuilders.html
Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Enquire with your current lender about a line of credit and make sure it is only used for an investment deposit rather than for purchasing personal items like cars, boats, pools, extensions on ppor., ect. Instead use it for creating equity in next loan. A line of credit is called a portfolio loan at St George Bank so it may be a different name when you enquire with the loans officer at the bank.
Consider using your savings as a large repayment on your non tax deductible home PPOR loan and thus increasing the equity to borrow against. Or maybe using an offset account on your home loan as another possible method of reducing your non tax deductible house loan.
Cross colateralisation has the risk of losing all your houses if one of your house investments doesn’t work out.
You may need to ask your accountant if you need to setup a trust to buy the second property in the name of the trust. If asset protection is important to your requirements. it is difficult to negative gear through a trust and the bank may not lend money to a trust.
Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
It sounds like you do not have much equity in your house you live in. The banks will lend you money based on your assets equity and what your income is. This will limit what you can start investing in.
You may need to investigate the requirements of a low doc loan if you are self employed. The main thing is to start even if it is small you will be in the market. I prefer myself to start off small and get the property into a cash flow positive position and then repeat the procedure for the next property and then repeat for the next property. This way you are building up a cash generator to use to buy a better property much later on or to buy two more properties at the same time.“My older sister and hubby are keen to invest in some type of property in the near future. Maybe you could investigate a joint venture with them as either tenants in common or through a trust , you could discuss with your accountant and lawyer (a joint venture agreement).
Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
[lmao]depends on areas rental market. is there are demand for this type of housing with renters in the area and future buyers of this type of building.
Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
mortgage brokers can tailor your loan requirements to match with suitable loans from a list of many lenders . This can save you a lot of your time going from bank to bank . I have just signed up in Victoria to be a mortgage broker with http://www.planabettermortgage.com.au/.
They require me to gain a certificate IV in mortgage brokering and be a member of MIAA (mortgage industry association of australia)
Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
“knowing the difference between Laws and Rules. If a bank refuses you credit do not let one bank’s refusal set the rules in your mind for all banks. There are over 4000 institutions in Australia that lend money.”
From Peter Spann seminar and books – http://www.freemanfox.com.auAnother interesting web site is http://www.wealthmastery.com there are books also.
Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Originally I tried mortein barrier spray directly on the ant nest and it did not seem to have an effect on ants.
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I just killed some rather big ants in the ant nest. I used Rich Gro Ant Killer it is a sand that you pour in the nest.It took a couple of days but there are no more ants in the nest. You have to reapply it after a day as the ants will bore new holes in the ground to make alternative entrances. got it at bunnings.
If it is smaller ants use ant rid as long as no animals or kids are near it . It is a sugary liquid that the ants eat and take back to the nest and feed to the colony.
If you get rid of a possum the possum will come back or a new one will take over the old territory. A possible solution can be to buy a possum home from the RSPCA and put it in the tree and block entrances to house roof. I have four possums where I live and have had close and personal contact with them at night.
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
if you use the link it should be http://www.gatherumgoss.com
the book is at http://www.gatherumgoss.com/trust_magic.htm I thinkmight get myself a copy !
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
You really need to examine how much is the PPOR interest on the non-deductible mortgage is costing you. What sort of capital gain you might achieve on the PPOR in the future if sold as this would be CGT exempt where as investment property would incur CGT. Also what strategy you are using like are you employing a negative gearing high growth strategy that may not be as effective at this stage of the market or are you employing a positive geared investment strategy that could use the released equity to position your next investment to be positive from day one. Remember also that $130 is needed to pay $100 off PPOR interest costs. = interest / tax rate ie $100/0.30 for 30% tax rate. = $133.33
Another thing to think about is how long will the mining boom last ?
Will the value drop if the current mining boom stops.
You might want to think about diversifying you property portfolio so that all your eggs are not in the one basket , ie it is not all in mining towns and becomes less corelated to the well being of the mining industry.Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
an offset account also could be used to save up a deposit for your next investment property that you might buy later down the track.
Have you though about a fixed loan interest rate .Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
have a look at
http://www.freemanfox.com.au
This organisation has a negative gearing outlook and growth focus
and has a section called wealth club where you can have an adviser
to coach you. Peter Spann has written at least two books on his methods that you could buy and read
see
http://www.booktopia.com.au/featuredbook1.asp?StoreURL=booktopia&bookid=0732274311
or
http://www.booktopia.com.au/featuredbook1.asp?StoreUrl=booktopia&bookid=0732281865&db=au
or
http://www.booktopia.com.au/featuredbook1.asp?StoreUrl=booktopia&bookid=073227429X&db=auComments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
when they create an interactive computer game version that allows players to interact over the internet via a games server with other players like freelancer then I would buy a game.
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
How does this “not buying in your own name” thing work? I can only guess that it means creating a real estate corporation of some kind. But if thats the case, can you get no-deposit loans for property if this new corporation has no earnings and no assets (like mine would)?
API magazine January 2007 has an article about hybrid discretionary trusts.
see http://www.propertyinvesting.com/wealthguardian $400 to buy informational cd.
If you have never purchased a house before you might look into maybe buying a house to live in at mining town and getting the first home buyers grant. Once you have paid off the amount needed to create equity you can sell or borrow against it. or rent it out.
The most important thing is getting into the market not necessarily buying the most expensive house.
I am not sure on the LTD PTY company being allowed to borrow without a deposit , the bank loans manager would be the person to ask.Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
if you want to know if someone is accessing your CRAA you can pay baycorp advantage http://www.baycorpadvantage.com.au and get notified when it is accessed via email and also a recent copy of what is on your CRAA. I have subscribed to this service.
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
It is due to the current rental market. Vacancy rates are at a record low. This means rents are high and rental properties are scarce. January 2007 Australian Property Investor has an article about the long waiting lists for tenants.
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
check if there is a free trial with the software from their websites
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
The reason is due to fringe benefits tax. Under s26-110 Not all benefits are subject to FBT.
Sec57A(2) old legislation benefits provided by certain public and non-profit hospitals to their employees are exempt from FBT
I suspect it is from a court case ruling Mines Rescue Board of NSW v FC of T (2000) and (Metropolitan Fire Brigades Board v FC of T (1990)
The reason given by the judge was The appellant operates a mines rescue facility in the each «of» the four coal mining regions
in New South Wales and has a mines rescue station located there. As the principal function is to provide an emergency service, its staff must be ready to respond at short notice.
see
http://law.ato.gov.au/atolaw/view.htm?rank=find&criteria=AND~Metropolitan~basic~exact:::AND~Fire~basic~exact:::AND~Brigades~basic~exact:::AND~Board~basic~exact:::AND~v~basic~exact:::AND~FC~basic~exact:::AND~of~basic~exact:::AND~T~basic~exact&target=CC&style=java&sdocid=JUD/2000ATC4580/00001&recStart=1&PiT=99991231235958&recnum=3&tot=33&pn=ALL:::ALL
Relationship to nurses
Nurses have to respond to recalls quickly which requires staff to live close to the hospital they work at.
ATO takes the view that normal employees can choose to live further away from their employer at cheaper purchase costs but in doing so higher travel expenses incurred to get to work can’t be claimed.Most tax law comes from historic tax case judgement rulings that then create the prevaling tax ruling or laws. This is why it may seem
unfair to the average tax payer until you look deaper into the ratio decendi (reason for judgement decision).Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
This question is hard to answer as you have not given any idea about how much you earn. With centrelink payments be careful with negative gearing as a loss is considered as income by Centrelink and it will effect centrelink payments. You also haven’t mentioned what your equity is (this is value of house minus loan amount). If I was you I would book a time with your bank loan officer and ask him or her what you can borrow with the income and equity in your current house.
If your equity is low you might be better concentrating on extra repayments on your house loan to reduce the loan while your wife is not working. I am the one at home with the babies while my wife works and I have found it hard to borrow money on my current household income levels. So it is worth checking this out first before deciding on investing in property.Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
if you are a women http://www.affluencia.com/ see post in general forum date Posted 22/11/2006 December meeting – Women Investing in property.
or see general forum post on Posted 15/11/2006, Next Investor Meeting Nov 26 ALL WELCOME. posted by troynbecHope this is some help
or maybe http://www.richmastery.comComments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
