Forum Replies Created
TCL, if your on about 65% LVR with 5 properties you should be able to have a car or 2 and go on holidays every year unless your properties are at the lower end of the scale.
I am semi retired and I am only 29 am at about 62% LVR sounds similer to you also have no kids but am married, But I do have several cars and always take holidays normaly at the least 2 a year.
Its good to see theres a few younger people popping up on here that are also buying
also how many bathrooms are currently in the house? if there is only 1 then you may need a second.
but if there is already 2 theres know way I would consider loosing a bedroom.
those sizes are small but you still get a double in themHi Simmo, If I was you I would sit around 65 to 80% depending on a few things and your situation.
you could probably go and borrow another 500k with that equity you have in the apartment, but you would be sitting at about 80%
Did anyone not buy anything? as they thought we were gonna be in bigger trouble than what we were with the economy
thats where my wife left it
If the goverment did not do the fhbg then I think property would have gone backwards very quick in the middle of this year, It will be interesting to see what happens after christmas, we seen the top end market take a good hit and i am thinking we may still see the cheap stuff under 500k drop in value over the next year or two and then be flat several years after before taking a few small climbs then flat then a big blow out again.
But I don't care either way realy, there should be more deals to be had.
Hi scott, no not yet but i will do a google search on them.
Thanks
Hi Terry,
what do you mean by no 50% cgt with a company
does a company pay 0% or 100%???
Terryw wrote:You will need some good advice as some things to consider
– what happens if one of you gets divorce
– what happens if 1 goes bankrupt
– 1 wants out? (This will happen!). Does the house have to be sold or 1 partner buy out the other?
– who is director?
– who guarantees the loan?
– no 50% CGT with a company
– what happens if 1 does more work than the other – more profit, higher 'wage' etc?It depends when the auction is.
if the auction is before you get approved finance and go unconditional then the agent is right
as the vendor would have payed for the auction they will want it to go to auction unless your deal was to go unconditional before auction.but watch out agents do try this on, even if theres no auction
I would go subject to finance no matter what or at least subject to something so that you have a way out if finance fails
Thanks for that,
theres about 200sqm of concrete floor area needing to be tiled so should be reasonably easy to do but would like to get an idea on how many sqm a tiler could lay per hour.
Also theres about 40sqm of walls required to be tiled,
would want it all fully bedded.
thanks
How old before you cannot claim depriciation on resi or commercial. 20years?
and when you do a major fit out iam assuming its all rittin off threw the books at tax time even if the building is old???
thanks, only want a quality job, but dont want to spend heaps on this property as it may get bulldozed in 2 or 3 years.
Ive just heard of ceramic refinishing, anyone no about this???
do u no if the founder of this also has bussinesses in nz if so hes gone broke once or twice
Dave is spot on accept for Your deposit is irrelevant when considering your cash flow position with this property.
Income v's expenses is what you are comparing.your deposit is also worth something, me personaly a chase 10% of the deposit i put down
so if the deposit is $20,000 i would want $2,000 p/a return on that, duno u may do it different and aim for what the banks interest rate is 5%
jazamite what do you mean by hold properties in individual names?
Iam not to keen on spreading my portfolio around australia ile stick with qld and a little in nsw
by using these 2 states do i pay less land tax than if i had everything in qld?If avoiding Land Tax is your criteria for investing i think you are selling yourself short.
iam trying to find away that will still work with the way i buy property, iam trying to work out how i could get my accountant to structure something for me that will save me some land tax without doing stupid things just to save on land tax and cost me else where
I would write a letter and post it to the head person, doing threw internet site iam thinking would not get the same response.
I would do what duckster said and i would put in there that you are seeking legal action as you have signed these contracts and are now going to be charged large amounts of moneys and penalty's due to cba not going threw with what they said they would.
I personaly dont like cba as a lender they are to tough, but i dont mind having my money in there bank because it should be securei have heard that if you rent a house and the tennant burns the house down the tennant is liable, it is stupid as no tennant takes out insurance to cover this
Lisa J could you give abit more info on how this works
If you have time on your hands then Terry's suggestion is a good one – move in for 6 months when you buy it then you have 6 years where you can rent it out and still claim your PPOR cap gains exemption.
say ive got a ppor which i pay $100k and i live there for 6 months and move out then sell it in 5 years say for $150k does this mean i pay no capital gains on the $50k profit.
Also same senario but i buy another house in 6 months which i live in, which one will be my ppor
Also say property number 2 i pay $100k and sell in 5 years for $120k so i would only make $20k capital gain
or should i take property one and say property 2 was ipile sell u a negatively geared prpoerty if you want, and i can go as negative as you would like
if you sent it by email you may be able to pull out as you have the original, when borrowing money from the bank they dont want an emailed copy they want the original or no deal.
but before you pull out think carefully as you have 10% deposit which is a good deposit, is the other person willing to put down 10% and what are there conditions as you may find away out of the 1st contract and sign a deal on the 2nd which may fall over. then you have no deal
