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@jamescameron
Join Date: 2003
Post Count: 33
February 23, 2015 - 9:38 pm
Hi Jacqui,
My home is about 25 years old but I did an upstairs extension and added more rooms about 5 years ago. I don’t have a depreciation schedule for it and would get one if I was to rent it out. Even with the extension it is only a townhouse and still restrictive in space with very little land. It is in top spot close to schools and trams and should rent out easily.
I agree with your comment about buying a house now which makes good sense but because I won’t know which school the kids will go to for 4 years I was hoping to get something done now, and then in say 4 years make the purchase once and for all.
James
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@jamescameron
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February 23, 2015 - 9:30 pm
Richard hi, my properties are in Melbourne.
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@jamescameron
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June 17, 2010 - 9:44 am
Terryw & matt
You both say it is difficult to go about doing this. I assume you mean obtaining a loan won't be easy as it will be 100+ % finance. But with sufficient equity or by using like an Equity Access Account / LOC could this not be easily possible?
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@jamescameron
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June 4, 2010 - 10:26 am
Would I be right in assuming the further out you move from the city it would be harder to find a tenant (unless ofcourse they work nearby). For instance I was thinking about investing in Wyndham Vale or around there as its meant to be one of the fastest growing corridors etc etc). But who's going to rent out there for say $300 p/w when you could get a house (ok a bit smaller) say in Richmond, St Kilda just to name a couple of suburbs for $300-$350??
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@jamescameron
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February 19, 2010 - 7:59 am
So, Benjamin or Richard…….how does one use Super to invest in property? I have Super but it's not self managed – can I still do it? Also, as this concept is a bit foreign to me, will it help with the struggling cash flow situation that I am in or is it there to assist more with the equity side of things?
James
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@jamescameron
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December 17, 2003 - 12:43 pm
Okay, Kay and everybody else out there. I am prepared to sell at the price it is worth today!!!
If interested still, e-mail me at [email protected]
BEAT That!
James
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@jamescameron
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December 17, 2003 - 11:59 am
Well yes I am a nice person indeed.
But my motivation is sparked by the fact that I am one of those affected by the hike in interest rates and am facing it a little hard to meet repayments. So, one option would be to sell it. But instead of being hit with agent’s commission of around $10K, I felt wrapping it would be another option and would at least be a win win for me and the potential tenant.
James
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@jamescameron
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December 4, 2003 - 2:49 am
SIS
Go Telstra Broadband like I have (and am very happy with it – been down only once for 2 hours in the last 6 months) and get Foxtel Cable for no installation cost b/c the cable is already laid.
James
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@jamescameron
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December 4, 2003 - 2:10 am
I am 92, does this mean I can come too? []
dont be shocked, am just kidding. Perhaps we could go by name Virgin2![]
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@jamescameron
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December 2, 2003 - 11:34 pm
Is there any way possible to transfer properties already in a personal name to a Company or a Trust without incurring hefty fees?
James
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@jamescameron
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December 2, 2003 - 3:00 am
Balwyn Area (Melbourne)
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@jamescameron
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December 2, 2003 - 2:59 am
But hang on…..what are the underlying benefits of putting the PPORs & IPs into a trust? Do trusts pay less tax than individuals on the highest tax scale? Or is it to protect the assets in the event that you go bankrupt?
James
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@jamescameron
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December 2, 2003 - 12:35 am
Ziz,
Aren’t the maintenance costs covered in the Warranty of the item? So say you took out a FlexiRent over 5 years, they tend to extend warranty over 5 years too.
Also, how about a Ceiling mounted projector instead of a Plasma. One that projects on to a wall or large pull-down screen. Not only do they last longer and are cheaper, but tennants cannot physically touch the unit or spill a drink on to it.
James
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@jamescameron
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November 28, 2003 - 12:09 am
Hi MelBear,
Where can you purchase these sort of items at wholesale? Secondly, with your repayments, is the principal deductible, or is it just the interest repayments?
Finally, if I indicated to the ATO I had purchased the home theatre for one of my rental properties and kept it myself (getting tax benefits in the meantime), how would the ATO know?
Thanks
J
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@jamescameron
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November 27, 2003 - 5:49 am
TerryW
Why would it matter whether it is a company financing the equipment. I thought finance companies would not finance 2nd hand stuff to anyone, esp under $10K
James
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@jamescameron
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November 26, 2003 - 1:42 pm
What a Neat Idea!!
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@jamescameron
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November 24, 2003 - 2:26 am
Sounds great. Count me in too. I’m in the Balwyn area.
James
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@jamescameron
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November 24, 2003 - 2:23 am
Hey Vivarto,
Not a bad idea at all!! But do you know if you can FlexiRent/Lease a 2nd hand Plasma sold privately thru the Trading Post??
As far as the Insurance, you will have to pay the premiums (but you can build it into the rental of the property). As with Depreciation, I think it will depend how old the tv is and what the length of time the ATO will allow.
Otherwise Great Idea. One I will be exploring too!!
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@jamescameron
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November 24, 2003 - 2:10 am
Sounds like a great idea. I’m in!
PS. Who’s Vivarto?
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@jamescameron
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September 18, 2003 - 12:34 am
The problem with furnishing a property I’ve heard is that if something goes wrong with it, then you are up for more expenses to fix it!
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