Thanks to both of you! So tell me this… I’m assuming you can’t claim the interest on tax, if it’s your own home (ha – wouldn’t THAT be great!). But what happens in this situation:

1. Buy home as PPOR and live in it for a month or so you can claim the FHOG. (No tax deduction allowed.)

2. Move out after a month, rent property out as an…[Read more]

quote:
I agree, you can rent out a property you have previously lived in and ‘gear’ it. Perhaps she was referring to the fact that you can’t claim deductions for interest if you’ve drawn on the mortgage for the place you’ve just moved out of (i.e. in order to buy new property)?

Here’s the first two pages, up to and a little beyond that point……[Read more]

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The following will now occur:

A HECS repayment threshold of $35000 in 2004-5 and $36184 in 2005-6. This ups the original repayment threshhold from the amounts mentioned of $25348.

Will this affect only new graduates, or people who previously had a HECS debt as well?

Allan.

quote:
Sorry to be stupidly obvious, but is it an Australian book?

Yes, it’s “Your Investment Property: How to choose it, pay for it and triple your returns in 3 years” by Anita Bell. On page 2! (Makes the rest of the book sound promising, hey?)

Allan.

quote:
Hi Bear and Gang!

http://www.the-richest-man-in-babylon.com/

I think it’s free from this link.

Yep… if you spam a few friends first, to get it.

quote:
The admin of this forum do not like having people posting their email address into threads such as this as spammers are attracted to the site. So please avoid this in the future.

Well… In other forums I’ve participated in, when you click on the person’s nick, you can send them a private message. This is used for sending email…[Read more]

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If the property is worth say 400000 now 10years 800000 cost 6000py so thats
60000 out
CG 400000

doesnt look so bad its the holding thats the worry

Except you’d have to take into account in that calculation erosion due to inflation as well.

Allan.

Not really much help to you, but for your interest… My wife & I used to rent a house that was owned by a RAAF employee. The RAAF “took care” of renting it out on his behalf, but had passed the management of all their houses in this area to normal real estates agents…

We were supposed to get a water usage bill every quarter (I think it was).…[Read more]

I guess I’m just wondering what the problem is that people forsee. After all – if a property is +ve cashflow today (that is, rent coming in is greater than expenses going out), then it will still be +ve cashflow tomorrow.

Or… no!?

quote:
I have the complete and up to date Land tax rates for all states of Australia in an Excel Spreadsheet. I would be happy to email it to you if you give me your email address.

Sure thing – much appreciated! It’s:

a11ank3rry@bigfeet.com (change “feet” to “foot”).

Thanks!

Allan.

Hm… Thanks people!

Hi Clive…

quote:
Paying interest only loans improves your cashflow, therefore increasing the number of loans you can service and therefore the number of properties you can hold.

quote:
You are correct in that the balance will be the same at the end of the loan as at the start. Typically an interest only loan will be 5 years.

Thanks, that…[Read more]

quote:
Geez Allan, what can be said ?? Perhaps someday soon the docs will find a way to help you out. Don’t give up mate, i can’t imagine how tough it is for you at the moment, but just remember not so long ago things we treat today with a simple injection used to be terminal… []

Thanks…

quote:
Is there anyone else with health problems on the forum and how does it affect your efforts to pursue wealth?

Philippa

Philippa – I have chronic fatigue also – at least that’s what the doctor thinks it is, since as you know by now, there’s no specific test for it as many doctors still think it’s in our minds and so won’t allocate research…[Read more]

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With leasehold you are leasing the property of a third party.

Most property in NSW and QLD is freehold – you can do what you want with it.

Ok – what seems odd to me then – I’ve seen land advertised and in the short description, the RE has made a point of mentioning it is freehold…

Why would they bother, if *most* land is freehold…[Read more]

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Guys, love the site, but its getting really slow to navigate, and it crashing a lot. I think you need a faster cable. Getting a bit frustrating thats all.

Methinks you might need a new computer – or to slap Bill Gates – HARD. (It’s working fine for me.)

Allan.

Hm… Ok – it’s just that a couple of weeks ago I was looking at some land, that the RE listed as freehold. This (and several other things they mentioned) gave me the impression you can do what you like on freehold land – without government approval – is this right?

Also, the average house in Sydney/Newcastle areas – are they freehold or…[Read more]

Whew, thanks Mel – thought they’d gone!

Allan.

quote:
However it does also depend on what loan product you are applying for too. For Example if it is a 100% home loan, well loan amount would be $100000 and FHOG for costs.

Ok, thanks… I’ve been entering some figures into some online calculators and wasn’t sure what they call the “Loan Amount”. In one calculator, there was no option to…[Read more]

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Allan,

I hope you got my e-mail.

No… For some reason I’m not receiving emails from people in the forum. I just noticed a 1 (one) looks the same as an l (L). So maybe that’s the problem…

(The L’s are actually number ones.)

So it’s: a-ONE-ONE-a-n-k3rry@bigfoot.com