Hello gocoastalSorry but no idea what your question is. Can you please re phrase and expand it.Would like to helpElka

http://www.somersoft.com/forums/showthread.php?t=29333 

elkam wrote:
Hello aoSS has a forum on commercial property. Until we start one here that may be a good place for you to start.CheersElka

My apologies to our hosts on this site. I feel like the character in  "While you were sleeping" must have felt when he woke up.  There is now a forum for commercial property here.   When did it start? 

Hello JamieIf, as you mentioned in your other thread about this deal, the lease is with outgoings then surely you don't need to pay the insurance and strata fees yourself ? I mean the tenant need to reimburse you for these. CheersElka

Hello aoSS has a forum on commercial property. Until we start one here that may be a good place for you to start.CheersElka

I think Scotts last sentence is the crux of the difference between what happens in the U.S. and Oz. with foreclosures.I believe that in the U.S. you are allowed to walk away from your house. This means that when the value of the property is lower than the mortgage people just hand the keys over to the bank and walk away. They can't be asked to…[Read more]

Hello SoloinvestorIt will also stay CGT free if you move back in within the 6 year period assuming you don't buy another place and declare it as your PPOR within that time.Maybe you can ring the ATO to confirm all this.  Hope this helps Elka

What's the difference between NG and the following example?I run a little business ( in my own name).  However, because it's just in the begin years it doesn't earn enough income to support me or in fact to cover it's own expenses so I have a part time job as well. At tax time I declare income earned from both sources and deduct all expenses fr…[Read more]

Sorry newbi2 I don't want to seem contrary but point 3 of your post doesn't apply here.There will be no CGT to pay when the property is sold if it was rented out for less than 6 years and no other PPOR was  claimed. CheersElka

The point about having a IO loan coupled to a 100% offset account, even for your PPOR,  is flexibility.Please read the following threads where it's been…[Read more]

JamesandHannah wrote:
I've decided that paying off our 15k car loan first is the way to go.The second stage would be to 1. Pay down as much on our home loan as possible to create more equityor2. Save up cash in the bank for a depositor3. A bit of bothOf the options above what is better for us?Paying off the car loan asap first is absolutale the…[Read more]

Hello JLThank you for taking the time to post this for me.Much appreciatedElka

Hello AngelaI changed PMs on one of my IP's a few months ago.  I advised the old PM that I was changing agencies and who the new agent would be and the rest of the work was done by the new PM. No hassles.  CheersElka 

Hello JaffasoftI believe it was in the March issue of API and that it was mentioned as a hot spot for property under $200K. At least that is what I have been able to find, searching through forums, but not why.Would you have a copy of that issue? I also think that the region is very depenent on a solution to the drought problem. CheersElka

I agree with you about growing equity over time duckster and use my offset accounts in the same way as if I was putting it directly into the loan i.e. this is not spending money unless it's for another investment.. Of cause you need to be very disciplined financially otherwise you are better off putting it into the loan so you won't spend it on…[Read more]

Hello KathyBasically if you use a IO loan and put your spare cash into a 100% offset account coupled to this loan you achieve the same interest reductions but keep your options open.Obviouly if you have a PPOR ( non tax deductible interest) you should have this offset account coupled to your PPOR loan. Here is a link to a thread that also d…[Read more]

Hello MiniThe "only catch is….." statement relates to the 6 year rule Kevin mentioned in the first paragraph of his post.The rule is that you can rent out your PPOR for up to 6 years without effecting it's CGT free status. Obviously you can't buy another property in that period and claim it as your PPOR as well. For clarity, you can own another…[Read more]

Hello cassowaryThe short answer is no. However it may be worth speaking with an accountant about having your father pay you rent for half the house which should make all your expenses (which would be half of everything except things like water usage, electricity  …assuming you are paying half council rates, water charges, insurance,…[Read more]

Ryder wrote:
I did refinance soon after I moved out, but the bank won't give me the valuation. 

But surely they will tell you what it was valued at even if they are not willing to give you the valuation itself.

Surely if the lease expires in November 2008 then six months before expiry has passed. Does it also say in the lease that the tenant has to notify you of their intention to take up the option or not 6 months before the lease expires? I don't know if it's possible but you wouldn't want to get caught with the tenant claiming that you can't put up t…[Read more]