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god_of_money
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Post Count: 970
May 6, 2009 - 3:46 am
There is no concession for land tax in NSW..
What is the threshold before you pay land tax in QLD?
god_of_money
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May 6, 2009 - 2:09 am
Erick,
It is true that with company trustee there is another layer of protection. How about the cost of setting up the company trustee let alone yearly fee……. going to accountant pocket..
Unless you have plenty of IPs and having a 'risky' occupation…. then it is worthwhile to set up one.
I am happy to be corrected!
god_of_money
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Post Count: 970
May 3, 2009 - 1:17 pm
",,,different types of loan products out there…some 100%"
Please let me know which lender that still offer 100%????
The max that you can get at this stage is 92% LVR with Westpac… may be 95% with 1-2 non bank lenders..
But I will consider doing it with bank lender
Keep saving….!!!!
god_of_money
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May 3, 2009 - 3:45 am
I read the news today that KRudd Co.. might revise the limit of negative gearing during May budget… sound interesting!!!
god_of_money
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May 3, 2009 - 3:43 am
Can we make any claims on the vacant property?
No.. because it doesn't produce any income
Again… issue of X-collaterilised both propeties is interesting to solve the problem
god_of_money
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May 3, 2009 - 3:40 am
Sulo,
"My accountant has advised me that having our names listed as the trustees defeats the purpose of setting up one! Is that so?"
you should find a new qualified accountant if he/she doesn't know about DFT
god_of_money
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May 2, 2009 - 1:27 pm
Do the search in this website.. lots of info about X-collaterised loan both risks and benefits
god_of_money
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May 2, 2009 - 9:23 am
This post was 4 years ago and suddenly someone made a very postive comment on CB
god_of_money
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May 2, 2009 - 8:44 am
You should utilise your vendor's lawyer in the future (quite experiences from your explanation)…
I think it is important not to use conveyancer but property lawyers only.
I learn something from your case… Let's know what happen at this end?
god_of_money
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May 1, 2009 - 4:24 am
http://business.smh.com.au/business/house-prices-down-4-in-a-year-20090430-aozy.html
how about this
god_of_money
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April 30, 2009 - 12:41 pm
What was the reason why the bank could not release the title?
god_of_money
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April 30, 2009 - 12:39 pm
Kevin,
What is your suggestion if the PPOR has been paid off prior to renting out??
god_of_money
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April 30, 2009 - 12:00 pm
Margaret,
Can you elaborate the cost of joining/purchasing the properties?
"FREE" but with string attached
god_of_money
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April 30, 2009 - 2:43 am
Ask for Management fee, strata fee etc (big cost)…. and get the gross rental valuation. The nett return may be ~5%.
It may be difficult for re-sale in the future (main concern).
also problem with financing.. but only A$80k …. can pay with cash and park it in DFT
god_of_money
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April 28, 2009 - 11:38 am
Is it safer to loan it to medico?
Does any one know about the lending rates? Would it be lower than commercial loan?
god_of_money
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April 28, 2009 - 4:00 am
A$100 <— very cheap
god_of_money
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April 28, 2009 - 3:57 am
I guess that the impact will be the next 12-18 months as a lot of first home buyers will rent out their PPOR after taking freebies of A$ 24000 (NSW) and futher deepening of GFC… The real value of property price will be tested then…. UNLESS Rudd Bank decides to give away another A$200b to BOOST
god_of_money
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April 28, 2009 - 3:50 am
59 cents yearsss ago… ???? probably more than 10 years ago… since I bought my first car in 2001, I can remember that the petrol price was 80cents.
Taking into account of inflation (but excluding fluctuation of AU$ vs. US$… you bought the crude oil with US DOLLAR) and assuming inflation at 3.5% pa therefore at least the inflation itself has factored 40% into the oil price… $1.20
so.. where is the beneficial of your argument….???? Yes the price is increase because of inflation itself, not because it has increased in INTRINSIC VALUE itself..
god_of_money
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April 28, 2009 - 12:16 am
How about HSBC… their 3 year fixed rate @ 4.99%
god_of_money
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April 26, 2009 - 10:35 am
It has already bitten the commercial properties across the Australia… the major property fund i.e. GPT/Wesfield/Stockland have been bitten by global financial crisis…. It will haunt the residential properties…. I guess that Rudd Bank will be able to clear the mess…. with total liability of 200 billion and increasing….