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  • Profile photo of god_of_moneygod_of_money
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    April 9, 2009 - 6:26 am

    I still don't undestand why so many investor/home owner went to RHG or GE money or Wizard for loan at the beginning….????
    And now worrying about the rate……

    Can someone enlighten me!!!

    Profile photo of god_of_moneygod_of_money
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    April 7, 2009 - 10:04 am

    And also how much did you borrow? It is different between 1 million and 100k

    Profile photo of god_of_moneygod_of_money
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    April 6, 2009 - 10:37 am

    Has anyone got experience on transferring PPOR into DFT?
    Any regret or benefit in the future

    Cheers

    Profile photo of god_of_moneygod_of_money
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    April 1, 2009 - 10:45 pm

    Hi Terry,

    Thank you for your comment…

    I am thinking about RENTING the place to live in WA (i.e. not buying).
    My wife will lost her job due to transfer therefore I can distribute to her through DFT.
    I might not come back again to Newcastle.

    The rental appraisal by RE agent last year is ~A$380-400/week.

    I would get the valution prior to transfer to DFT. Is this correct?

    If I am on the high tax margin… it means that 40% will be taxable on rent ?

    My calculation is as below:
    Scenario 1:

    Rent   A$ 400/week   x 52   = 20800
    ?? Depreciation value        =  8000  (estimated from WashingtonBrown calculator.. will get full surveyor report)
    Taxable income  40%

    Total =  17200 (1st year)
    2nd year = 17200

    Scenario 2 (with DFT):
    Rent A$ 400/week              x 52 = 20800
    Depreciation value                     = 8000
    Land tax                                       =  (-)1500
    Stamp duty                                  =  (-)15000
    Management fee                       =  (-) 1500
    Miscellanous                             =  (-) 1000
    Total                          Approx   A$ 9800  (1st year)
                                       2nd year = 24800 but tax at lower income

    Am I missing anything in calculation??

    Not sure which one is the best

    Cheers

    1st year benefit/loss                 =

    Profile photo of god_of_moneygod_of_money
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    April 1, 2009 - 8:54 am

    Shales, I hope that more contructive comment than what you just posted

    Profile photo of god_of_moneygod_of_money
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    April 1, 2009 - 1:32 am

    I got a really good bargain when I bought it 3 years ago as 'divorce settlement'. I am keen to keep it as my cash flow is not a problem. I just want to cut down the 'tax' to Rudd's pocket. The only way to do it is through DFT with distribution to my wife.. I am sick of paying top marginal rate.

    Profile photo of god_of_moneygod_of_money
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    March 31, 2009 - 11:41 pm

    I am going to WA for 2-year job contract. I might or might not be moving back again…..

    If I sell my 1st PPOR into my DFT, do I get an exemption of capital gain of PPOR if I am buying again in WA?

    Profile photo of god_of_moneygod_of_money
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    March 31, 2009 - 5:15 pm

    But this is not FULLY informed consent … therefore can't hold in the court…. stilll jail

    Profile photo of god_of_moneygod_of_money
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    March 31, 2009 - 1:50 pm

    The offset account might be slightly expensive… but worth it in the long run especially if you are uncertain about the future… I admit I myself make a 'big' mistake.. because of stupid broker

    Profile photo of god_of_moneygod_of_money
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    March 31, 2009 - 1:47 pm

    Might end up in jail…
    very scary providing un-professional advice
    sorry

    Profile photo of god_of_moneygod_of_money
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    March 30, 2009 - 11:12 pm

    will become water front due to global warming in 10 years… option 1

    Profile photo of god_of_moneygod_of_money
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    March 30, 2009 - 6:03 am

    47.5% of management fee.. .you must be kidding..
    It must be serviced apartment… goshh…. the most 'dud' investment ever… I think
    You are probably be able to sell it at 1/2 price 3 year later

    Profile photo of god_of_moneygod_of_money
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    March 30, 2009 - 5:59 am

    off plan = stay away in this current climate… unless you sure that you are buying a bargain

    Profile photo of god_of_moneygod_of_money
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    March 30, 2009 - 5:52 am

    Do you think it will lower the LVR to =< 80% ???
    It will be interesting to the property price

    Profile photo of god_of_moneygod_of_money
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    March 28, 2009 - 8:33 pm

    Your share worth about 210k but you owe 240k… Is it a margin loan?

    Profile photo of god_of_moneygod_of_money
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    March 27, 2009 - 11:43 pm

    you can have 1 dollar till 10% of purchase price.
    I normally give them A$1000 as a good faith.
    If you don't proceed with the transaction, then 0.25% of the purchase price will be confiscated

    Profile photo of god_of_moneygod_of_money
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    March 27, 2009 - 4:11 am

    Peter Span… another spruikers :)

    Profile photo of god_of_moneygod_of_money
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    March 27, 2009 - 3:14 am

    Kenny, my philosophy is always BUY below bank valuation and RUN away if above valuation…
    Few years ago.. the property in kellyville or kellyville ridge etc… are selling for 700k… now.. it drops to about 500k on market price.. Coupled with poor public transport design and mortgagee sales ( CAME; COME and COMING !!!!), it has been hammered badly. But again.. it is up to you.. it is your money..

    A$1200 vs 40k in long term… :)

    Cheers

    Profile photo of god_of_moneygod_of_money
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    March 27, 2009 - 3:08 am

    Probably DOUBLE BOOST to combat with tighten lending criteria LOL :)

    Profile photo of god_of_moneygod_of_money
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    March 27, 2009 - 1:02 am

    Kenny, property in Kellyville of outer western of sydney will  or have experienced significant drop in property price up to 20%  in the next 1-2 years… bank has already taken account into it especially if you have to borrow LVR > 80%.

    I think the valuation will probably close to 450k in long term….due to demographic population who lives in the area.

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