Forum Replies Created
Hi Lucky robbie
as Neo said you really need to figure a fair bit out for yourself. Maybe you could narrow a few areas down that you think you’d like to live in and then us Melbournites can let you know whether they’re good areas or not. Please feel free to PM me if you find an area you’d like to know more about.
Landt.Hi Mark,
can you clarify a couple of things for me. Does the valuation method mean that you pay less tax. Plus- our IP was originally our PPOR and then we inherited our current PPOR. Does this count as having bought a PPOR, or could we still move back into the IP and avoid Capital gains?
I’d love to hear your thoughts.
Landt.Hi Nehal,
if you would like to get some constructive advice then you will have to make your question clear.
I don’t know what your question was.
Landt.Hi PurpleKiss,
I’m with you on this one. We’re aiming to be earning enough so that we don’t have to rely on any Centrelink payments. The only reason we looked into it this year was that the extra payment of $600 per child came in with the budget, and i thought I might as well see if I’m entitled to it. I gave centrelink all of our details, and with the rental income we went well over the amount at which payments should have been cut off, but we were assured that the rental income would not be assessed. Hey I’m happy. I pay my taxes, and I figure they’ll take it back with Capital gains anyway.
Landt.Hi Francis,
a State Trustees auction is just the same as a normal auction, but it is under instruction from the State Trustees, as it is a deseased estate. The reserve is set by the State Trustees and in my opinion is usually set at a reasonable limit.
LandtHi Derek,
I actually didn’t really think we’d get it. It was a State Trustees auction, so that’s why we thought the reserve would at least be reasonable.We set our price and stuck to it, but it’s in an extremely good area and I thought it may go for more, as it did. However it did still go for a reasonable price, just beyond our reach. Another one will come along.
Landt.Hi,
you know it’s really weird, but when it comes to claiming centrelink payments for children, we were told that our IP would not be counted as an asset, and the rent was not counted as income. My husband and I both earn a decent wage, and I didn’t think I was entitled to anything, but centrelink coughed up $3000 at tax time.
So when I read that they reduce some poor persons pension to virtually nothing, then I know that the system is completely nuts!
LandtHi Jackal,
welcome to the forum. Since you say you’ve been reading it now for a couple of years, you’ll see that people are generally willing to help and give you good ideas. I’m kind of at the same stage as you. My husband and I only have one IP because we bought it as our PPR, and then my mother-in-law allowed us to move into her house (she didn’t live there anymore), so we could rent out the IP. We’ve only just decided that the time is right and we’re now actively looking for another IP.
I think what you’re describing is due diligence. You’re making sure that you’re buying the property that’s in a good position, and that’s right for you. You probably feel ready to jump in now because you’ve done the research.
Good luck with your purchase.
Landt.Hi,
I’m in Melbourne and pay 4.5%. I don’t know if they’re any good since we have a dream tenant who treats the place as her own. However, it’s never been empty for any longer than a couple of weeks.
Landt.Hi everyone,
I’ve spoken to the land titles office, and they’ve advised that it’s because there’s a car space on the title. Any dealings must be done for both the unit and the car space, they cannot be seperated.This may be useful for someone else.
Thanks,
Landt.Thanks emacdonald,
very useful ideas.
LandtHi,
along the same lines, what do you say when an RE asks what you want to spend? I know other people have said not to disclose to the RE what you want to spend, but I’m never sure what to say.
Thanks
Landt.Oh my god Dazzling, where have you been hanging around????
Landt.I forgot the really complimentary one
‘she’s got a face like a well slapped arse’
Landt.Yes knowitall is becoming a bit of a pain.
Landt.G7, you crack me up.
Landt.Hi G7,
will you be negative gearing this property then?
Landt.Hi,
I’m Scottish so we’ve got loads of stupid sayings including; (just imagine it’s Billy Connelly speaking)
‘I’ll take my hand off your face’ – that’s usually a parent threatening you
‘I’ll make you laugh on the other side of your face’
‘Oh to tattie water’ -means oh my goodness
‘pissed as a newt’
‘that must be jellie cause jam don’t wobble like that’ – referring to a fat person.
I could go on and on.
Landt.Hi everyone,
Originally posted by landt64:Here’s another one.
You’ve got a bag with 50 gloves inside. 25 left and 25 right. How many do you have to take out before you have a pair.
Landt
The correct answer is 26, Paul was spot on.
landtHi dazzling,
thanks for your reply. It’s definitely Strata title, not company title. Does anyone have any idea who I should ask?
Thanks
landt
