Forum Replies Created
Surrey,
Thanks for your assessment.
I noted somewherein their discussion forum that it takes 9 nine months before u get some cash back.
Agree with you, looks too good to be true.
hrm
No info on your age, education or work experience to advise you on this course.
But any extra education should be beneficial in the longrun.
If you are concerned about low esteem associated with a Dip then perhaps you could do ,if you have the prerequisites, Graduate Diploma.
To check on the usefullness of this course you could contact some head hunting firms.
hrm
Rumin,
Great situation to be in. The more tax u pay the better off u are.
Living overseas….your tax situation may be different to permanent residents….suggest you seek advice from another accountant.(perhaps a specialist in Xpats)
Any assets ie shares that you could sell for a loss?
Any payments you could make in advance?
Never bought trees but why would the Gov give 100 tax deduction for these? Very High risk I would guess.
Enjoy the profit pay the tax.
hrm
Loungeact,
You want to invest.
I would treat the house as my PPOR.
You would be miles in front over the long run if it is your PPOR…sure there would be no tax deductions but no CGT and $800 pm from Mum.Ps you may be able to get a better interest rate too.
Good luck
hrm
hi,
Have you considered that you would have to declare the boosted up income and pay the appropiate tax?
The reason for the Q is that you want to free up cash to service the other IPs, then you could extend your mortgage as the property has increased in value or sell now.Sure you would pay full CGT but a small profit now is certain profit( money in the bank) whereas in 12 months who knows.
I personally would walk away from your sale when I found out about the inflated rent..wouldn.t you.
hrm
Hi,
I agree with most posts suggesting honesty with your tennants. I have 2 properties on the market at the moment. One tennant is a night worker (not sex)who finishes work at different times of the morning and he did not want people inspecting when he was asleep .He agreed to allow tw0 days per week for inspections at his nominated times. The selling agent was happy with this arrangement.The other tennant was nervous when advised we want to sell so we offered her the chance to buy before we listed it. She was given a week, but decided not to. We pointed out that the purchaser would most likely be an investor and that she could not be kicked out as she has a lease. This seemed to help the situation.
I would get on the phone and let the tennant know ASAP.
hrm
Hi,
From my experience furniture paks tend to be expensive to maintain.
I suggest u check out the web (for rent)or the Saturday Age to see what u may get for a furnished property versus unfurnished, or talk to a few agents.
Also, much easier for tennants to leave when they only have to pack a suitecase or two.
You may be able to increase rent if you provide extras, ie dish washer, clothes dryer, air con, internet access, etc. Maybe your tennant to be does not need a carpark. You could rent to other tennant in the same complex.
Hope this helps and good luck.
hrm
Hi Jaws,
you havn’t said where the house is located, I assume that it’s is not in metro areas. Perhaps you may be able to get a building inspection for $300 or so. This should identify any problems and approx costs.
Also you said that you are first timers if this means that you and your partner have not owned other property before, then you may be able to get the first home owners grants.
hrm
TMA,
Thanks again.interesting info.
regards
Herb
hrm
TMA,
Thanks.
Does this mean that you could purchase IPs and still claim the 6 year exemption for the PPOR.
regards
Herb
hrm
Hi Doogs81,
I too have spent many years(21) in the RAAF. I resigned in 93.
I remember one great perk, and no doubt they’ve changed, was that they would pick up the tab for all costs when buying and selling when posted to a new location. Also there was the Defence Forces Home loan which was an out dated $25K enouch for a good sized garage.but it was at a very very good rate.
Are there any such Navy entitlements that could help your property investing.
For Terryw,
You caught my attention with this:
You should also still be CGT free on your initial property even if you rent it for up to 6 years.
Terryw
Discover Home Loans
North SydneyCould you please explain this
Thanks Terry
regardsHerb
hrm
Lucky you,
You.ve nominated some excellent choices.
I would put it to my PPoR loan, or you could have a great holiday (non-tents)(non-kids), or I have a great tip for the horses tomorrow.here’s my BSB and Acc No.123 454 898982.
Regards[biggrin]
hrm
Sorry forgot to mention that the Investor Club guru says “Never Sell”. What are others thought on this.
hrm
Thanks guys for your imput……. appreciated.
Bob,
I had no problems with my initial purchase but they appeared not interested in pushing more my way. Also,I indicated interest in JVs.
Perhaps they assessed I was at my limit or did not have the borrowing capacity.
hrm
I am positive about Bris but this one appears too high price for me. Look at the websites for city appartments. You could get e two bedder in Aurora for less.
Goodluck.
hrm
Hi,
Sounds like a nice business you’ve got going.
In regards to GST, my understanding is that if your landlord is not registered for GST then they would not charge GST on the rent collected, therefore u pay less $ each month (no GST. What u save in cash flow u could be put aside for your BAS payment.
Hope this help.
hrm
Hi
Sounds interesting.
There may be restrictions on max no.of occupants, I guess it could be checked out at local council.
Tradie as u know are flat out,,,how about a handyperson to do walls etc.
As students at uni only attend for maybe 6 months a year how do u expect to fill the rooms during semister breaks or would students commit thenselves for 12 months.how doesit work?
hrm
I’m surprised that the rubbish has not been removed yet.
Could someone please.
hrm
I had for several years bought units only in Qld whilst living in Melbourne.At the time I could not afford to buy locally and I’ve assessed (gut feel)that Qld is where I could profit. Also because of work commitments I could not devote much time to manageing the properties.I have bought thru the Investors Club which turned out to be a reasonable investment.
In last two years as the Buy-Hold strategy dried up I have sold all but two of my Qld properties.
I now concentrated on Melbourne to Buy-Improve for profit in my local area. I would not be able to do this if I had to travel any significant distance.Also, I now make more time available.I would still buy in Qld if a good deal came up. I have an agent who seems to find some good deals and faxes me regualary.
I have found that by not physically being in the area of you IP that you could miss out on valuable info that may affect your judgement on sale rental demand etc.I have missed the peak selling price in a couple of areas.
As I novice to adding value to property I would find it very difficult to do this with lots of kms to travel.
Hope this helps.Good luck.
regards
herb
hrm
Good summary Benny.
Give Astorb in Brisie a call you’ll be surprised what they can advise you on.
Good luck.
Herb[biggrin]
hrm
