Forum Replies Created
hey ya
im poor at keeping stuff
sometimes i know i paid for stuff but i cant find the receipts
eg after one year i try to get receipts for warranty and i find out its NOT there, so boohooso wat happens if i lost my stuff and i get audited, shit especially now with all the props and expenses i have
you’ll probably say clean up get organised etc but too busy and my spare time is my alone time not accounting crap time
Ideas?
If your accounting tax deduction don’t add up what happens then? Will I be in deep doodle
thx terry i forgot
yo jo(heheh)
if you got a portfolio account, then you can fix all your interest and pay it that year(ie on other subaccounts) and togethter with the interest for that year
eg total interest for 1 year is 30K
anyone, other ideas to reduce CGT!!!!
+ another 30 or so K = 60K in interest
yeahhhh
thx terry
thx Jo
apart from cute youre smart
yeah, i get it
when i “sell” to parents, i forget that i had to first pay the 200 K CGT first cos this is assumed and eventhough there is no money transferred theorectically
ya im looking, 1-2more this year
hey kay
5.5-6% yieldis not that heavy negative gearing
first 2 years you might lose 1K after tax
then after is neutral and positive pretty quicklyin area of growth, and props with large land >500-600m2 and BV built <20 years old with 3 bathrooms etc. within 30-40 kms of city and connected to major freeway is not an unreasonable plan given any yield higher than this is very hard to find and even if you do, the quality is questionable, leading to anxiety, attracting poor tennants etc
so kay im with you girl
cheers
hi melbear,
you sound like a girl i would like to meet
ill fight the right to date you with sis
im 30 with a job
my mum is similar to sis’ but not as vocal and tries not to interfere too much cos she knows i know what im doing and have seen my successesi have a suggestion, why dont we have one of those reality thingy we always see on tv
me and sis will have challenges and immunities and we fight it out the civil way
otherwise its the CAGE(lol)nono im not violent, i just like kicking the $h!# out of people; sorry joking seriously, im not like that
hey btw you told me you were going to keep me in touch with investment stuff bout 3 months ago in forum reply but didnt
PM me if anything interesting comes up
cheers
correct!!!! succinctly put
look at my reply in -no more finance
you’re with CBA arent you
get a good mortgage broker
refinance, revalue another bankcheck Evelyn Crawford in Melton – she’s good but now absolutely refuses to deal with CBA after my case, so if you’re with CBA you can try otherwise
ring 97473211well theres barry plant 98423222
mines in doncaster – carol adams – quite good
another in philip webb – but avoid them cos theyre not very good, poor communication etc
hope this helps
cheersomfg i thought i was the only one
I was in a similar situation a month ago with CBA
i earn 90 -100K and my recent potfolio was valued at 1.075mil 4 rpops in 3 places
they said no to even 60% LOC(i asked via mortgage broker about 3-4 times) and boy was i pissed
so i said stuff you CBA i’m going elsewhere, their products are good but their services are
$h!# – mostly incompetent lazy buffoons
they didn’t even change the name from vendor to my name for the 3rd property causing confusion for the next bank i went to(ie St George)
well now so far so good
St. George gives just as good a product, caused me no grief, settlement no problems and everything in the end thx to my mortgage broker went smoothly
So if i were you, if youre hitting the million mark and if you’re with CBA as most people are (getting sucked into it in the first place 0 and friggin wants 60% LVR ie wants all your property without giving you much
So with most major banks they’re a pain in the arse esp CBA.. CBA….CBA…..CBA
Go with someone else and get a good mortgage broker, revalue, refinance might cost a bit initially but gives you good long term outlook and establishmentmy 2c worth of CBA bagging hrrrummphh……incompetent………greedy…
yes westan and jo
agreed
i looked also in those areas wyecheproof and ouyen
and i, like you jo, have reservations, imho unless it is a bargain brick house, it is not worth the distance if anything goes wrong or massive headaches in a town of declining populationcheers
PS wesan thx for reply and if i have time and means i might take up the offer of calling/bothering you
I would need to comment on the asset protection of trusts. My sister and friends are lawyers and I have extensive discussions regarding this.
Basically, trusts DO NOT protect you entirely or as extensively as the general public might think. Most of us will have ourselves as trustee and family members as beneficiaries; also in a company setup to get 30% income tax benefits etc. However, if you know you are getting sued and you decide to sack yourself ie. the trustee and reappoint another, the courts will know this obviously and may be regarded as a conspiracy. Although, theorectically not yours, the facilitation of the asset is case depended of course (reason of why you are getting sued).
Therefore, if the courts see fit, depending on your financial situation and your family etc. you can still easily lose your assets this way. So, trusts do not fully protect to the extent one might think, it is useful for tax purposes and facilitating income and outcome in multiple income streams, as in businesses or multiple portfolo properties+shares etc.Anyone disagrees or agrees, any thoughts
lol kay
its 3 bedroom
8 rooms total split level
doncaster vic
thx for input, i will pursue this issue with my PMthx guys that was useful
can i just go out and buy this book at any good book outlets?hi all
my situation is similar
3 guys renting my place in doncaster
$230/wk for the last 5 years
cos they are working boys i felt reluctant to increase rent, let them get a good footing etc.
i know the rent has increased over last 2 years but i held it off for this long
checking out the rent for a 8 room house, its prolly bout 265 – 285/wk
i wanna increase to 250/wk, initially felt bad but i thought, 3 guys, gave them a good standing already, been a good landlord etc
they come back saying not happy and might want to move out but seriously, i think my house is best value for money atm
my PM, quite nice and communicates well, i think reluctant to increase it but i insisted
so anyway its now more than 2 months after initial communication, and trying to sort it outany thoughts
huh, sis i don’t get it
how do you plan to retire so early with all these props so negatively geared
live on fresh air?
are these props already being paid off to a point of positve gearing
what about all that maintanence of props $^!#
i find these can really take a lot out eg insurances, PM fees, repairs, land tax etc
i have 4 props +ve about 10k/yr but after costs its less than half of that with 500 K mortgage
so if i live on fresh air alone, great i can retire now and spend 5K on entertainment every year for the next 35 years NB im 30
PLS EXPLAIN (in Pauline Hanson’s tone – i’m sure u love her Chan$ – lol)yeah i think i might end up like u jess
im not married and i want to travel and work etc
what other activities u suggest i should do
im keen to see this beautiful country, work and get out of city doldrumsi’ve learned that there no point being an @$$h*!e but at the same time not to get stepped over
lol aluminati are you doing night duty as well or are you a vampire
pisces
don’t be angry its just my opinion
you can look at it both ways
1) im a wrapper and i’m on your side and helping you to get your first property and a roof under your head. If its not too much to ask i will sell it to you for a slightly higher price and a slightly higher interest rate, which i think is quite reasonable. If you agree lets be partners in wealth. At the end of the day, my intentions are for both of us to be happy – you with a house and me with positive CF wealth.
2) im a wrapper and although i have this goodie image of trying to help you at the end of the day all i want is my CF and if you want the property then come on my terms albeit a little higher, but thats what you got to pay for if no one else would lend you money. I’m not forcing you but life’s unfair, you can take it or leave it. If you can’t pay later, tough
At the end of the day, love me(Celivia), or hate me(Pisces) one can intellectualise any situation suit our conscience(I know I have been guilty of it many times) but at the end of the day it boils down to “What are my intentions”
Wrapping is not all bad i suppose if you give a sh$# about other people.
