He talks well & looks 30 years younger than I thought! Should I adopt him? []

Hi All,

As I understand “Instruction for sale” is prepared by the seller or the seller’s agent and “Contract” or agreement for sale” is prepared by the seller’s solicitor? Do I understand correctly?

Cheers

Huey

PS: Hi Michael, I did send you an email asking for more details.

Hi Michael & Shane,

My solicitor is drawing up a contract for me today and will send a copy to the buyer’s solicitor.

I should ask an agent to handle the sell for me from the beginning but because I couldn’t decide whether to sell it or not & currently having bad experience with a property managing agent.

Many thanks

Huey

The government doesn’t give away IP tax deduction claims for nothing. It takes back so much money in stamp duty, GST … It also generates heaps of work for building industry to the point where there is an acute shortage of trademen.

I know +ve geared property investment is a safer way to invest but I can’t find any around. I’m considering to…[Read more]

Hi Dave,

I’m in similar situation & appreciate your ideas. I sent you an email but it’s bounced back with a userid invalid error message.

Regards

Huey

Hi Calron

You can find the answer in https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=2875

[]

It’s a very good idea Sooshie. I hope to see more of this. Thanks[]

A very good post Davide (David with an E, like Anne with an E in Anne f Green Gable, my favorite novel).

Many thanks & cheers

Huey

Hi Robert,

My accountant said “No”. I couldn’t even claim the solicitor’s fee for a deal which fell through in the last minute. I’m not sure if those travel costs could be included when calculating capital gain at selling time.

Cheers

Huey

Hi All,

I have 2 IPs. I want to sell 1 & use the money to buy a house for my son & an IP in another state. I can use equity from that IP to do so but choose not to because I don’t want to owe the bank too much money at my age. I’m very sensitive to stress & value health, family & people around me much more than money. My aims are to give all my…[Read more]

Not me!! I will be forced to sell my IPs. Can’t afford to pay my homeloans. I don’t think we can ask for much higher in rent either.

Huey

Thanks Mel & Chandara

He wants to get an IP close to where he lives. There aren’t any neutral or +ve gear property in the area. Most yields around 4 – 4.5%.

Cheers

Huey

Many thanks Stuart,

He is highly educated so hopefully he can get a more stable job soon. He also can get a lump sum instead of the pension (about $80,000) and uses that money to pay the loan. He wants to get 2 IPs but I think 1 is more than enough at this stage.

Regards

Huey

The cost will become part of the cost for depreciation.

Hi D

We had bad tenants in our negative cash flow IP. The agent didn’t even let us know what had happened. We found out from the monthly rent statement that the tenants had already left. We rang the agent many times & didn’t get any return call for 2 weeks. At the end we got hold of 1 staff. He told us the tenants were evicted out.

We visited…[Read more]

Thanks All,

My main reason to put my +ve geared IPs into a Trust is that I can distribute its income to my 2 children, supporting them through university. I assume as a retiree with no business I don’t need assett protection (?).

A Discretionary Unit Trust seems to be good for -ve geared IPs & it works the same way for +ve geared IPs as a…[Read more]

If I set up a Trust for my family what type of Trust I should use ? How much does it cost to set up initially & to manage ? [?]

[] Sorry, OWE $425K (not own) $425K []

Thanks Terry. It seems a good strategy. I will think about it.

Sorry for my bad English Neo. “own $425” = $425K mortgage with the bank. I’m an “over protective mother” but can’t help it. They can pay back the deposit later when they have extra money & only if I need it. You know how I feel when you have your own children. []

Hi Richmond,

You seems to have plenty of spare equity from your PPOR & IP1 ($ > 20% of each one’s value). If it’s enough you can use equity of this 2 properties to secure a 105% mortgage for the new IP. (even without having to pay mortgage insurance), unless you already used it to service your recent purchase.

Which Bank lends me 105% of my IP…[Read more]