Replies Created | Forums | ez-rent | PropertyInvesting.com

Forum Replies Created

Viewing 20 posts - 41 through 60 (of 120 total)

« 1 2 3 4 5 6 »

ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
August 6, 2004 - 2:43 am
This may have some useful info for you (although now 3 years old..)
http://www.travismorien.com/FAQ/main.htm
go to “real estate”, then “Some Tips from Paul” and “Some More Tips from Paul”
cheers
[email protected]
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
June 15, 2004 - 1:22 pm
Well I am still scared of the ATO, but I love this idea and it simply never dawned on me before..
I am very naieve to a lot of financial matters. If it was this easy you would think by now that some enteprising person could manage the legalities and manage the process for a management fee. (find the people with the money and introduce them to the person with the offset/loc)
It reminds me of another technique that my wife and I used to obtain our deposit years ago.. Have anybody here ever been involved with the Asian/Vietnamise money lending ‘game’ called Hui?
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
June 14, 2004 - 9:20 am
So if its an ‘informal’ arrangement, with (in my case), my brother in law, the same thing applies?
Knowing the ATO, it wouldn’t suprise me that declaring something as a gift is not enough to satisfy them?
comments?
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
June 14, 2004 - 5:56 am
Soooo, assuming that you declare the payments from the offset account owner as income to the ATO, you may as well go with ING?
Or is the difference between the ING interest rate and a std variable interest rate enough to make the interest saving of sufficient significance? (assuming you are paying the person 1% less than std variable rate as per Rustry’s suggestion..)
The cashflow advanatge of monthly/fortnightly payments should not be ignored either..
Paul
[email protected]
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
June 13, 2004 - 12:31 pm
Robert
Excel formulas are not a problem (ez-rent was once an excel sheet seemlingly like just about every RE software package).
I take the excel formulas and rewrite them in Visaul Basic. I tried to work out a way to handle frequently changing stuff like stamp duty formulas via config file, saving having to issue an update. But it proved to be too much of a pain and plus I also have bug fixes with each new release.
I haven’t sat down to work out what is going into the next version yet, but I will at some point be expanding it to allow you simulate buying funds and direct shares as well – assuming there are no ASIC issues in doing so..
Its also been requested to have some basic property cashflow tracking as well, but there other apps that do that particular task very well and I’m not sure if it would be reinventing the wheel. Jury is still out on that one..
The point is, (after I sort out a few personal things), its a fairly open slate as to what things go into it next.. Of course, sponsors get more of a say anyone? anyone?
Paul
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
June 13, 2004 - 9:54 am
Gday
One caveat.. EZ-Rent v2 was released prior to all the state/federal budgets unfortunately, and I haven’t had time to update it for this coming FY as I’m in the process of selling/shifting house.. I don’t think v2.1 will be out for another month or so..
Paul
[email protected]
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
June 13, 2004 - 1:47 am
as a follow up..
Co-incidentally, I had another user report to me an incorrect interest calculation, but in the end, the issue was the user set a property purchase date of 1st of January. As a result, interest was only calculated for that portion of the financial year (Jan-June), leading the user to beleive that the calculation was wrong.
Did this happen to you?
Paul
[email protected]
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
June 10, 2004 - 11:10 pm
Only just saw this one.
If the figures are incorrect I’m happy to fix them. I got the app checked over by 2 accountants to be sure, but its intention certainly isn’t a marketing tool..
PM me with specifics..
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
June 9, 2004 - 1:42 pm
I also did a subdivision have done this a couple of years ago and posted it to a newsgroup which eventually got into its FAQ.. I think its still relevent except the costs are now probably 10% higher across the board..
http://www.travismorien.com/FAQ/realestate/paulpropertytips.htm
and the specific subdivision bit..
http://www.travismorien.com/FAQ/realestate/paulpropertyrant2.htm
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
June 9, 2004 - 1:39 pm
Hi
EZ-Rent has a property condition checklist which, while not geared towards ‘rentability’, allows you to cover a lot of things that affect it such as drainage, carports, security, etc. You may find it useful.
Just load it up, click on “Buy New Property” and check the “Property Checklist” tab.
cheers
[email protected]
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
May 29, 2004 - 11:30 pm
Isn’t this just a property syndicate or am i missing something?
http://www.propertyoz.com.au/data/info/BuildYourWealth/syndicates.htm
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
May 27, 2004 - 4:58 am
This I assume also spells the death of optimised loans where you pay reduced interest on your non deductable line of credit vs a higher interest on your deductable.
(see the thread “4.49% line of credit”) from a couple weeks ago..
[email protected]
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
May 27, 2004 - 2:38 am
I can tell you with absolute certainty that not all Perth suburbs are rising. I’m in ST James and the prices are already $10-20k from their peak. I have been looking in Lathlain, Rivervalue, Kewdale, Victoria park and East Vic Park and the trend is consistent across these suburbs. My latest valuation is now $20k less than 9 months ago.
Originally posted by AusProp:
are prices really falling in Syd / Melb? Perth is still rising strongly and is expected to continue for some time. I would be interested to see some factual data on the east coast declines.
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
May 26, 2004 - 4:13 am
When Today Tonight start mentioning the property boom
Any other surefire signs that the market is about to peak.
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
May 21, 2004 - 11:35 pm
Firstly, I doubt your council would give you the necessary approvals to do option 2..
Secondly, everything would have to be ‘fair market value’ as far as the ATO is concerned. If you discount because its a family member, you will certainly get yourself into trouble..
As Michael says, you had better see an accountant..
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
May 21, 2004 - 7:10 am
I think to determine where we are, one would have to graph a couple of stats
% of median house price to average income (maybe across a couple of tax brackets to get a good feel)
Then take factors like interest rates and apply a adjustment them to balance that factor out.
I haven’t done it – but I’ll bet there has been a significant upswing from 5 years ago even taking interest rates into consideration.
Now I think if you plotted that onto a logarithmic graph (go look it up if you don’t know what it is) and look at 10 or 20 years, you would be able to draw a line over the median and be able to work out where we are at..
Anyone have the info to try this? Would be interesting..
Paul
info@ez-rent,com
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
May 21, 2004 - 7:02 am
I wouldn’t use them anyhow as I have no non deductable debt so I get no benefit. I think such entry fees are outlandish myself and are probably more like broker fees..
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
May 20, 2004 - 12:13 pm
Bang on the money Matt.
Of course, its easier said than done and few will ever get it totally right. Look at the share market over 2001-2003. It was a dog and if you bought 1 year into the stock bubble bursting expecting a rebound you’d have been dissapointed as it really took 3 years.
It all comes down to defining and recognising ‘value’ I guess. I actualy find this easier to do in the stock market!
Right now I am looking for a new PPOR and I see so many good houses that have been on the market for ages and have had reduced prices. A lot of sales are falling through in my area as well because the buyer cannot sell their old house in time to settle on the new one.
Paul
[email protected]
If the correction overshoots, wouldn’t the best time to buy be at the trough of the overshoot (i.e. lowest price)? If you waited for the market to stabalise and reach the mean, you’d be paying a slightly higher price than if you bought at the extreme of the correction.
Matt
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
May 16, 2004 - 11:37 pm
I don’t think its a buyers market just yet. Corrections almost always overshoot and then revert back to the mean. I’m not even sure that we are anywhere near the mean yet..
I have a friend who runs a real estate business over east who is into mortgage broking, off the plan sales, seminars and management consulting and the like. We went to school together and he has always told me what he really thinks of the property market..
He mailed me when ez-rent 2 got released and said “i like your new program but it doesn’t matter now because the market here has gone to s**t”
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com
ez-rent
Member
@ez-rent
Join Date: 2003
Post Count: 139
May 12, 2004 - 10:02 pm
Hi
You need to start delving into VBA. Load up Excel, hit Alt-F11 and get scared
Seriously though this lets you write a custom function (say, called stampduty that accepts 2 parameters, the state and the property amount.). It spits out a number with the stampduty value.
You can then call this from within an excel cell and the parameters can be pased as the raw numbers or cell references.
You will find that at a certain point its simpler to hit the learning curve of vba that struggle with complex vlookups and nested if’s..
Next time I have the ez-rent source open, I’ll see if my stamp duty function works in excel. If it does then I’ll post the code to my website.. I have to modify it anyway to deal with the WA govt changes.
Paul
[email protected]
EZ-Rent. The free tax and cashflow simulator for Australian property investors. Version 2 out now!
http://www.ez-rent.com