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  • Profile photo of god_of_moneygod_of_money
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    May 29, 2010 - 12:51 pm

    Owning 2 properties instead of one can give you a lot of benefits. You will experience capital growth on 2 properties.
     
    Ryan.. sorry to disagree with u again… do you think owning 5 properties in Moree is better than 1 property in inner west of Sydney?
    Quantitiy is not always the best..

    Profile photo of god_of_moneygod_of_money
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    May 29, 2010 - 12:49 pm

    Jamie.. you need to live in straight foward after settlement for 6-12 months

    Profile photo of god_of_moneygod_of_money
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    May 29, 2010 - 12:46 pm

    Why people still want to go to non-bank lender albeit better product with slightly higher interest rates out there from big 4 ?

    Profile photo of god_of_moneygod_of_money
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    May 29, 2010 - 8:28 am

    D,

    Chinese investors have so much fresh cash.. and they can afford to buy the apartment with CASH…(Chinese prefers to buy everything in Cash.. whereas western prefers credit).. so don't worry about sunset clause.

    Profile photo of god_of_moneygod_of_money
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    May 29, 2010 - 8:25 am

    Paul,

    It depends where is the location in HunterValley. You can't buy a property in Merewether and New Lambton Heights..  for 300k
    Therefore, it also applies in Sydney as well.. you can live far northwest of sydney or further southwest to get a cheaper pric

    http://www.yourmortgage.com.au/articles/4168/default.aspx
    Another crazy prediction… BUY OR SELL.. the truth is out there..

    Profile photo of god_of_moneygod_of_money
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    May 29, 2010 - 8:04 am

    Terry

    I agree with you that company as a trustee has better asset protection, but you probably need to get a commercial loan. I am not aware that with the company as a trustee you can get a simple home loan package (i.e. breakfree ANZ/ CBA Wealth package).

    Profile photo of god_of_moneygod_of_money
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    May 29, 2010 - 7:11 am

    What happen if you have so much cash flow and prefer not to expand aggresively?
    I guess than pay down the principal does make sense

    Profile photo of god_of_moneygod_of_money
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    May 28, 2010 - 12:31 pm

    YES

    Profile photo of god_of_moneygod_of_money
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    May 28, 2010 - 12:30 pm

    Prefer P&I and offset account :)

    Profile photo of god_of_moneygod_of_money
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    May 28, 2010 - 12:28 pm

    Ryan…
    "4) Why set up a trust if you and your partner will be the trustees??? That doesn't offer the best asset protection and it just makes life hard for you. The trustee is responsible for the trust and in many cases if the trust is sued then the trustees are liable."

    Where did you get this info from? DFT has NO asset protection at all.. did you invent it yourself ?

    Profile photo of god_of_moneygod_of_money
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    May 27, 2010 - 2:04 pm

    go to http://www.archicentre.com.au
    will able to tell you how much it costs

    toilet can cost $100k.. probably the tapwares are made from gold

    Profile photo of god_of_moneygod_of_money
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    May 27, 2010 - 2:03 pm

    just cancelled the contract

    Profile photo of god_of_moneygod_of_money
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    May 25, 2010 - 10:00 am

    Get Q/S to do it… I heard that they can claim more than builder report

    Profile photo of god_of_moneygod_of_money
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    May 25, 2010 - 9:53 am

    Thanks for the input Terry. As long as I pay the market rental rates, it should not have any problem.
    Do I need to apply for private rulings?

    Profile photo of god_of_moneygod_of_money
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    May 25, 2010 - 9:39 am

    In regards to point 1… I mean the rental income/depreciation can be used to offset the loan interest. How it will reduce the profit?

    I tried to search it on ATO website… can't find the ruling..thanks for posting it

    Profile photo of god_of_moneygod_of_money
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    May 25, 2010 - 9:23 am

    Hi Terry

    Thanks for input..
    I do have a PPOR and currently rented (and still under 6 year rule for CGT)

    I do understand that losses will be trapped in the trust and I will pay market rates for residental (as per valuer rental valuation).
    The land tax and CGT will not be relevant as I have a PPOR.

    My concern is:

    1. Can I use the rental income/deprecitation to reduce my bank interest? (NOT the personal tax)
    2.  If the DFT earns positive income (i.e. rental income >> bank interest) .. can I still distribute the money to the lowest income bracket?

    Thanks

    Profile photo of god_of_moneygod_of_money
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    May 25, 2010 - 6:54 am

    Totally Agree.. you need a good broker that can do deals and on the 'ball'

    With the mortgage choice/Aussie.. it depends on the operator

    Profile photo of god_of_moneygod_of_money
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    May 25, 2010 - 6:43 am

    Any comments??? Accountant??

    Profile photo of god_of_moneygod_of_money
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    May 24, 2010 - 1:29 pm

    I won't declare it as it makes the taxation become so complication especially CGT down the track..

    Profile photo of god_of_moneygod_of_money
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    May 24, 2010 - 1:24 pm

    I won't say that mortgage choice/Aussie is not good.. it depends on the operator/franchisee 

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