Forum Replies Created
Asabove,
hopefully you are not in this situation, but from what I have been told the child support agency will look at an investment property a dad has and takes the view that the rent received is your income, without taking into account the loan you have on the property.I’m not sure if the proposed changes to the legislation will fix this problem, but if correct is totally unjust.
Dreamer a question to you. Can you still get a 14% odd percent return on your rent up there, or was your IP pretty much a one off?
KStone
If your gross return on the investment was 1100% then the figures would look something like this:
$55,000 X 2 = $110,000 times 1100% = $1,210,000
but based on your figures of $18k gross profit the figures are $18,000/$110,000 *100 = 16.36% gross profit. Net profit is $11k/$110k = 10%.
Well done anyway!
Clones,
my last comments should not be seen as advice. Just a personal opinion from an observer who digs holes for a living.
k
Clones,
There is more than enough evidence out there that residential property prices (especially Sydney) are still correcting.
It is going to be some time before we see a general rise in the Sydney area, although there will be opportunities that arise in the interim.
Personally I am keeping my powder dry and keeping watch.
Keep posting your articles as it is good for debate.
K
