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  • Profile photo of KoozKooz
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    @kooz
    Join Date: 2006
    Post Count: 39
    March 23, 2011 - 11:43 am

    Here Here to Rich Sparky and diclem. Their words are so true!

    Cheers
    Wife and bookkeeper to a self employed (hardworking, smart, qualified and responsible) electrician

    There's more than meets the eye when running a REC (Registered Electrical Contractor) business, providing great service and making a living.

     

    Profile photo of KoozKooz
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    @kooz
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    November 15, 2010 - 1:49 am

    Thanks Mike,

    The property was sold very quickly but it was great to receive your invaluable report.

    Many Thanks

    Karen

    Profile photo of KoozKooz
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    @kooz
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    September 29, 2010 - 3:58 am

    It just gets better.
    Settlement is all done and dusted, tenant is paying rent (late – Grrr), paying interest on loan (unavoidable) and usual water bills coming in to be paid.

    This IP is in the western suburbs of Melbourne. Received a water account (for usage only – no Annual Parks Charge) and find its in credit (thats ok), but received another account from another company (for Annual Park Charge Only).

    Rang 2nd company to confirm that is correct. No problems with that. But then notice $117 fee owing at settlement + my charge of $60.

    I can understand how it happened. Annual Parks Charge bill only comes in once a year from a different provider (easy to forget). All my other water charges are combined from one provider.

    So who do I approach?

    My solicitor – will they charge me for them to investigate.

    The vendors solicitor – will they care?

    I have paid the bill in full as I didn't want to be in arrears with the provider. If this situation goes on (trying to reclaim my money) for a long time, I didn't want a black mark against my name.

    Your thoughts.

    Profile photo of KoozKooz
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    @kooz
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    August 3, 2010 - 9:34 am

    Got my son an iPhone for his birthday the other week and got my daughter an iPod for her's.

    I was dead chuffed when the family clubbed together and bought me an iPad for fathers day. Got my wife an iRon for her birthday. It was around then the fights started.

    Profile photo of KoozKooz
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    @kooz
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    August 2, 2010 - 3:46 pm

    I found another beauty. Its an app that allows the user to locate nearby property development proposals.

    Hopefully this link works – this is where I found it originally:
    http://news.domain.com.au/domain/real-estate-news/new-iphone-app-could-prove-a-nightmare-for-home-vendors-20100726-10s31.html?et_lpid=118622&et_cid=13602140&et_rid=473009985&Linkid=http%3a%2f%2fnews.domain.com.au%2fdomain%2freal-estate-news%2fnew-iphone-app-could-prove-a-nightmare-for-home-vendors-20100726-10s31.html

    Otherwise go to:
    http://www.planningalerts.org.au/

    Another point and click application for the iPhone.

    Profile photo of KoozKooz
    Member
    @kooz
    Join Date: 2006
    Post Count: 39
    July 29, 2010 - 7:21 am

    I was intrigued so I downloaded the app.

    Can definately see the possibilities, but then searched my own home (bought in 2000) and there it was including the $ range in which I bought it, as well as most of the neighbours…going back to 1984!

    Its just like accessing Face Book for the first time….searching out all your friends properties with just a few taps of the screen (not that I would do that  )

    Ahhh the Internet and all that it holds!

    Profile photo of KoozKooz
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    @kooz
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    July 23, 2010 - 2:23 am

    Finding out there is a delay in approving finance as the contract states the purchaser as:

    Smith Corporation Pty Ltd ATF The Smith Family Trust

    when in fact the trust name is Smith Family Trust…..omitting the 'The' .

    Guess I should be a bit more careful when throwing the 'The' word around.

    Technically the bank is correct…but OMG !   

    Profile photo of KoozKooz
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    @kooz
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    July 16, 2010 - 5:07 am

    Hi Jo,

    We could be sisters in circumstances

    If you would like to change your profile to allow contact, I would be happy to let you know how I am set up (being self employed and investing).

    I didn't feel comfortable sharing all the ins and outs of my structure on this forum.

    Cheers
    Karen

    Profile photo of KoozKooz
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    @kooz
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    June 21, 2010 - 2:58 am

    Thanks Terry.

    I though so!

    Cheers
    Karen

    Profile photo of KoozKooz
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    @kooz
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    April 1, 2010 - 6:42 am

    I started my 6 year old off with $2 worth of coins. She then had to divide into 4 equal piles. Then place 50c into the 'Big Girl' box – for deposit into her bank account at a later stage (to access when she is 18), 50c into her 'Help' box – to donate to RSPCA or anything else of her choosing, and $1 into her 'spending' box. She then saves her money to buy a toy of her liking (which does take a few weeks).

    It gives her a sense of what I think is important – saving for the future, helping others and receiving goods when she has enough  money. Its working a treat!

    Profile photo of KoozKooz
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    @kooz
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    September 3, 2009 - 11:04 am

    I had an interesting experience changing property managers.

    I felt the 1st property manager was doing a poor job (it was a while ago now so can not remember the details) so I approached a 2nd PM. Signed all the relevant paperwork and received written confirmation that the 2nd PM had taken over from the 1st and all was good.

    Or so I thought.

    The incompetent 1st PM kept taking rent from the tenant (as well as the 2nd PM) and placing it into my account. So for 2 months I received 4 months rent in total from the tenant. As soon as the 1st deposit from the 1st PM came through I rang to advise the PM and they said they would fix it. Not until the 2nd month also come through (from the 1st PM) and another call they said…… Oh we didn't know you had changed PM. Sigh… incompetence.

    So the 1st PM refunded the tenant and I refunded the PM (maybe I should have kept the money .) No wonder the tenant moved out 6 months later.

    And to top it off, the 1st PM sent me a yearly statement at tax time that included the 'extra rent'.

    An very happy with the 2nd PM. Very proactive, on top of everything, would be happy to recommend (Vic – Melb SE).

    Cheers

    Karen

    Profile photo of KoozKooz
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    @kooz
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    August 24, 2009 - 5:22 am

    Ok.

    Melbourne Metro – 1 of a set of 8 units = $720 year

    Regional Vic – 1 of a set of 4 units = $800 year

    Go figure!
    Both have low cash reserves with no big maintenance expenses recently.

    Profile photo of KoozKooz
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    @kooz
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    August 21, 2009 - 3:51 pm

    Wow.. What great information. Many thanks!

    Profile photo of KoozKooz
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    @kooz
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    August 21, 2009 - 2:03 pm

    Hi Kenny,

    Purchased under a PTY LTD Structure

    Karen

    Profile photo of KoozKooz
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    @kooz
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    August 21, 2009 - 12:41 pm

    Oh…and all those free apps that young kids can play when chatting to REA or driving around town. "Priceless"

    Profile photo of KoozKooz
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    @kooz
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    Post Count: 39
    August 21, 2009 - 12:39 pm

    I purchased an app for I think $1.19. Its a stamp duty calculator which determines stamp duty in any state of Australia. Enter in the purchase price, state & if PPOR or IP and calculate. Its been spot on for me in Vic to date.

    Profile photo of KoozKooz
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    @kooz
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    August 21, 2009 - 12:33 pm

    Hi Fletchertax….

    So if I bought a IP  (under a company name) from an owner occupier and it needed structural repairs due to white ant damage and I threw in some cosmetic renos ie paint, carpet, kitchen benches etc, then quote

    " Repairs to a newly acquire IP are not deductible but repairs resulting from rental use are" – "Be careful between differentiating between capital expenditure and simple repairs.  Repairs are deductible whilst capital expenditure add to your cost base"

    How do claim the above expenses? Is it all capital expenditure?

    Karen

    Profile photo of KoozKooz
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    @kooz
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    July 20, 2009 - 12:22 am

    Re: Of course if the Trustee is a Pty Ltd Company then it would read XYZ Pty Ltd ATF XYZ Family Trust.

    Quickie in regards to this… what would then appear on the title document? The Company name or the whole spiel?

    Karen

    Profile photo of KoozKooz
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    @kooz
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    July 9, 2009 - 7:47 am

    Ahhh… Thanks Nino

    Karen

    Profile photo of KoozKooz
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    @kooz
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    July 7, 2009 - 5:00 am

    Hi Scott.

    Can you advise what a LEP is?

    Karen

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