Forum Replies Created
Currently 10
LVR 42%
LVR about 25% by mid next year
or more propertiesthanks
lol lifeX
i will burn it down
and thx, i believe no tennant better than a bad one cos i rejectd 2 already cos they were dodgy
so lifeX
wheres your IPs
i agree no tennant is better than bad cos i rejected 2 when they were on black list
so i wish you the best also
PM me with stuff and maybe we can chatthx
maxthey are living by the skin of their teeth i reckon
why would want to have a tax bracket @$0
this makes no sense
thy are not earning enough in general to optimise the full tax deductions
i think the strategy to buy when you can negative gear at the top tax bracket would be more reeasonable
i mean they earn only 70K but overall had to refinace to pay out a total of 50K!! in a year imagine doing that every yeareven with refinancing youre still increasing risk and debt
you cant live on fresh air
wonder how these guys sleep at night
anyway i dont know how these guys were featured anyway
what they have done is nothing fantastic, i can easily buy properties with 3.5-4% yield in CBDs
i cant see the point of their story and i think it is actually dangerous to teach people such risky techniquesim glad hes dead
jeez felicity
you’re good
got every angle covered
better start your own wrap pack
i’ll buy it
anyone else?its a hard one
on one hand they are suppose to be adults and if they sign on the doted line it is assumed that their mature mind and intelligence would have already considered the worse case scenario if they default on their repayments
on the other hand, it is easy to want a house of your own – a basic need that although you know that the worst case scenario might happen you hope that it wouldn’t and eventually pay up and have a lovely home
where does personal responsibility start and commercial responsibility end
for eg. even if the cigarette company doesn’t tell you smoking is bad, one must have internal logic to think that unnatural smoke pumped into your lungs day in and out can’t be good for you in the long term. even now people still smoke knowing its bad for you. we should blame the government for allowing cigs to be made or the company who is making them or the milk bar across the road for making the access to cigs easy
mostly i agree with Rob, proper checks and due diligence into the financial undertakings by the vendor and proper understanding with an independent body is a must
thats means you need to keep telling them, if you cant pay you LOSE your home even if you have paid up 99% of it. do you understand?, are u sure u wanna do this?, really?, u get the picture
hi
robert,
there is fighting for your rights and there is also fighting for your “rights”.
i mean, in a potentially volatile situation like that where you have frustrated individuals whether it is criminals or professionals, i think it is better to step aside. its nothing to do with being a coward but smart. there are potentially a lot of worthy battles to fight but that situation is just ridiculous. i would just have said whatever and left
funny thing is that after the police left and you get mugged or stabbed in your car, the police might have thought it would be poetic justice.
just a thought not an attempt on character assasination and also interested in what people’s approach to this in life situations – fight anything no matter how small just because it is our right or choose the worthy battles
max
yes terry
i was thinking like apportioning the interest at the end of FY according to initial purchase price eg 15% for 1st house 10% 2nd 3rd 20% etc. this i thought will be easier for my accountant given that he inly has one figure and we can apportion it accordingly as above.
anyone does this?
Yeah f#&( CBA
Theyre (u#+$
Go to Evellyn Crawford of Crawford mortgages Melton. Shes good and was the only saving grace in my deals with the banks
as usual mel ur spot on
meltons got a good stats for the future and i plan to kep for a long long time and i know even if it drops a little now(cant really drop to less than 156k) in the long run it will be ok
i can pay off mortgage, rent support is good bout 50 bucks a month on interest
pay this off in 2-3 years easy then sit sit sit
im really a proponent of capital growth and reasonable yield for affordability
hi all
i bought this months API also but i think its extremely inaccurate
i have quite a few properties and they have all been evaluated by REA and they all come to the same agreement.
dont you agree that most median prices of rent are overinflated?
especially for country and suburban areas
rent yields hasnt increased that much but i think those figures are in flated 10-50 dollars/week
or am i just undercutting my yields
cheers
thats why “at aussie, we’ll save you”
roflmfao[thumbsupanim]
aussie oi oi oiwell said mayyytee
i agree we live in a great country
i was born overseas in a country with a system totally unlike the one here
social consequences are obvious
im ok with incremental bracket tax although it is too high imho
im not upset by this because i know although some of this money is abused in some circumstances eg single mothers rorting the system with more kids from different fathers, politicians etc. overall given how australia is how it is today i would like to believe that the majority of the money is helping the community to build infrastructure, provide adequate health and education.im only angry and upset at b.s for eg Bracksie after receiving the most amount ever for stamp duty in 2003 and still crying f’king poor and trying to pinch more money from faulty speed cameras
so there
hi lamsie,
[blush2]
im really sorry if you thought that was my opinion of melton. No it is not.
I mentioned this area to my friends and thats what they said and so does a few REA in werribee.
Comments like, geez their markets overblown, ferals selling to ferals etc.
Sorry; not to recriminate myself again but that is what other people have said, not me.So, Ive decided to check it out myself and I like the area and I have bought there for 156K for a 3 Br BV house on 700+m2 of land ensuite heating and ac renting for 175/wk which i’m happy with
my tennants are not ferals but your average hardworking family trying to make ends meet, good with rental payments and i was pleased to provide a comfortable, safe, yet affordable accomodation while they get on their feet
so my comments are based on what others have said, but as for me i check things out myself. there are “difficult people” around in any communities i found as i entered RE and i have learned that generalisations and “classisms” alienate others unnessasarily and make the “classists” feel superior where they have no right to
Again lambsie, sorry ive offended but i have made ammends
cheers
oh man
thx terry
its a pain in the butt, i best to simplify my assets and income separateley
too complicated
oh btw mel
re Q3
same trust setup
my salary non-PAYG goes into trust
end of year, instead of paying the company, i just pay a bennie who is not earning etc . and get taxed at their rate and i get money back from them, is this kosher?
thx mel for the reply
i think alot of people will benefit from this
thx for your time and resources
yes im in melbourne and i will call dale
im reasonably clear now about what i want
yeah i calculated, even at my tax bracket compared to company flat rate of 30% it is not really worth the trouble until your income is about 100K+ cos it will work out to be the same
also i can’t utilise this properly for personal use without red tape, audit etc.
so i guess the best way to distribute income of trust is to find as many low income bennies as possible without kiling off their potential benefits eg allowances or pension etc.
i think im prettty clear now
thx again mel
Sry guys
I shall make myself clearer
Appointer – Me
Trustee – let’s say fjficm pty ltd
beneficiaries – family
Q1.
If i have maxed out my family beneficiaries, can i actually include fjficm pty ltd (ie. the trustee os a beneficiary also so that i can be taxed @30%) or will i have to set up another company as a separate beneficiary for eg fracp pty ltdQ2.
As the appointer but not trustee(which is my company of course), can i be a beneficiary alsoQ3
Can i put my salary (if it is non-PAYG) from an external private source into the company as an employee and be taxed @30%Q4
The money in the trust distributed to the company, can it be utilised by myself ie for minor spending purposes eg shopping etcQ5
How do you negative gear using hybrid discret trustQ6
Lastly, how do i set up my trust account as I have a LOC productPls clear up my questions
I have read all the posts and these are only the specifics that i couldn’t find and I can’t find any of the recommeded trust text, sold out!!!
Spend almost 4 hours so someone pls help cos i think these specifics will help lots of forumners complete their knowledge of trusts and myself also
Cheersthx mel
ok heres my understanding and questions and pls correct me if im wrong
Appointer – me
Trust – (me) Pty Ltd
Bennies – mum, sis and ?can it be me or (me)Pty Ltd ie can (me) pty ltd be be both a trustee and beneficiary or will i have to make another company of a different name?
setup hybrid discretionary – so i can negative gear – ?still dont get how this works
salary paid into ABN – that means im an employee of the company and earning for the company and getting taxed @ 30%
cheers
thx terry,
just to test my understanding
so if at the end of the tax year i have 50K total
i have to look at my poential beneficiaries and see if i can offset enough tax.
cos if i have only a couple, i might be better off to give the 50K to the company ive setup and get taxed at 30% earned income and then distribute it to myself(ie without the 47% tax rate)
is that right?
Also
can i for eg give 25K to a beneficiary before getting taxed at 30% and distribute the remainder 25K to the company to get taxed at 30%
thx terry
