Hello all

As I am leaning towards buying a commercial property as my next IP I am also trying to educate myself in this area.

In the ad. that delboy posted it states that no GST applies as it’s being sold as a going concern.

I thought at first that it meant that you are buying the business(es) as well and that this is really meant for people…[Read more]

But Simon, it’s the ANZ. As Australian as it gets …. almost. [smiling]

Elka

Hello all

I have now recieved an answer to the question I posted here from my advisor at the bank. His explination is as follows.

“A Standard Mortgage is taken over Residential Property to facilitate lending for investment purposes, for example, this can be taken over a owner occupied property when it is supporting equity to facilitate lending…[Read more]

Thank you Terry. Clear as always. [smiling]

Hello Greenhorn

$100k ouch!! indeed. [glum]

They built so many appartments around Melb. CBD that the oversupply also helped to drop the price unfortunatly. However, I think there will come a time when these properties will experience good capital growth. It may take some time though.

Personally I would not sell but would look for ways to try…[Read more]

Hello Josh

Thank you for the offer of help. We are leaving for the coast today (it’s summer here in Europe) but will gladly take up your offer when we get back in a week.

cheers
Elka

Hello Andy

You may want to read through the thread at the link below. Someone was just asking the same sort of question a few days ago. There might be some information there you can use.

https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=24430

Cheers
Elka

Hello Josh

I should have explained further. After reading the post about cross securitisation I emailed my advisor at the bank to ask about the mortgages on my 3 properties.

His answer was that 2 of the properties had “consumer and standard mortgages” and 1 had a “standard only mortgage”.

The property that is cross security for the other two…[Read more]

Missed both of those points in your post Richard. Sorry.

My only excuse is that I am busy balancing on my head. [wink2] [wha]

Elka [smiling]

Hello Stuart

A good read. Thanks. It has prompted me to take some action that I have been ignoring for awhile. [blush2]

Cheers
Elka

The big disadvantage with buying property in a company is that you don’t get the 50% CGT deduction if you sell.

A disadvantage in buying investment property in a trust is the extra land tax.

More to consider. [smiling]

Good luck
Elka

It’s true Terry that as an non resident you get to pay more income tax. As you say, no $6k tax free limit and you get to pay 29% from the 1st dollar. At around $21k and up your on the same scale as a resident. That’s roughly $4k extra tax per year.…[Read more]

Lucky you… I worked there for 2 years and really loved it. Joined a scuba diving club and spend every weekend I had free diving off the east coast of Malaysia…. magic. [upsidedown] [biggrin]

Back to business.

That’s were I was going when I consulted Touche Ross. It was a long time ago and things may have changed but with the structure…[Read more]

Hello again

When I went overseas to work the first time I went to what was then called Touche Ross and has now become Deloitte Touche Tohmatsu.

I see you are from Victoria so if you are in Melbourne they have an office in the city at

180 Lonsdale St
Phone Number: +61 3 9208 7000
Fax Number: +61 3 9208 7001

They are not cheap but I know that…[Read more]

Hello Manic

When you say that tax deductions and depreciation goes that’s not stricktly speaking true.

The thing is that without any other income in Australia to offset this against, you will be making a loss each year. I am not an accountant but I believe that you can carry this loss for a number of years and offset it against your income when…[Read more]

Hello Landlords [smiling]

I feel that the situation is different depending if it’s a rent review for existing tenants or setting the rent when the property is vacant. i.e for new tenants.

If it’s for new tenants, then ask for whatever the market will bear . You can always accept less but it’s impossible to negotiate for more than you…[Read more]

Hello

Are we on the same forum? [blink]

Why is it that I don’t experience this. Once I am signed in I can post replies or new topics without any signing in on the message editor. In fact these fields don’t exist on the page unless I am not signed in to the forum.

Puzzling. [eh]

Elka

Wow. That’s pricey.

Thanks for the tip about where to borrow it. I will have to wait till I come for my next visit but I’m a fast reader.

Until then I will continue to consult the forum trust guru (that’s you Terry [grad] )

Don’t worry, I know to seek professional advise too. [wink2]

Cheers
Elka

Wow Stephen your pretty young to be worried about protecting your assets from a realtionship break up. [smiling]

I’ve seen posts on this forum that said that the family law courts “look through” any trusts when splitting assets.

Don’t know if your about to marry or start living together, but wouldn’t a good pre nuptual agreement or the…[Read more]

Hello

This is a bit off topic for this thread, but can anyone explain why a council would demand a new fence as part of the planning permit if the current fence is in good condition? Seems somewhat nonsensical.

Did you try to argue this point with them Paligap ?

Just curious [eh]
Elka