get a conveyancing solicitor

Live, Learn and Grow

Lifexperience

If it is post 1985 you can claim depreciation on the building for tax purposes. 85-87 is 4% per year. 87+ is 2.5%.

If it is not, then you can’t claim the building..

If you want to be sure make an offer with a clause “subject to the purchasers satisfactory review of a depreciation report by a quantity surveyor” This will tell you the age of the…[Read more]

I had read a previous thread that claimed that if you did joint ventures with percentage interests at 50/50 then 51/49 then 52/48 then you somehow managed to dodge the higher land tax rates.

I went to the vic SRO website and checked out the section on calculating land tax for joint ventures. And got bogged down in their Algebra.

I could not…[Read more]

Good point,

All the people doing the big deals will soon hand over their cash to…………

Yup, the younger generation.

Good indicator of the focus that must come from management to the customer level.

Look after the future “or” focus on the current big money deals.

I think it was Robert Kiyosaki who said ” It’s the little deals that make…[Read more]

That is the funniest

Thanks Calvin

Live, Learn and Grow

Lifexperience

Depends who the mortgage broker knows up the chain…. a lot of the brokers who post here have contacts who can get lenders to agree to a wrap

cheers

Live, Learn and Grow

Lifexperience

…unless you can argue that it is a repair and not a ATO defined Home Improvement. Ie; replacing a faulty part of the property.

I’m pretty sure A new decking would be an improvement.

Live, Learn and Grow

Lifexperience

…….then when you argue for one particular investment being better than another you will have some credibility.

If you repeatedly just reel off isolated examples to justify an investment as being better you have no credibility IMO.

Live, Learn and Grow

Lifexperience

This is a very interesting thread.

There have been many references to examples in the past that show good and bad results from both property and shares.

Both have potentially good returns and also possible downside risks.

Your risk assessment will determine what you can risk. If you are young……..you can take a chance that could well send…[Read more]

As far as wraps go, I have NOT done a large number of these. This does not change my points which are facts, not a matter of opinion.

Put into your perspective that I think H&L packs are a rip off though.

Also allow for my opinion that I think the market may flatten out in the next 5 years.

Cheers and best of luck with your due…[Read more]

Why not cut somebody in for half of the property (or whatever percentage) and share the cashflow loss for now.

Set it up like a wrap with a property solicitor drawn up contracts and have a suitable partner place a caveat over title ………. then just split All costs to whatever percentage……………………..

………….friends, family,…[Read more]

Check your House And Land Finance approves you to sell it on Vendor Finance……for starters.

Check the H&L contract allows you to do the same.

As with a lot of House and Land Packs, $20,000 under the Median House Price don’t mean sheet if you paid $40,000 over Market Value for the thing in the middle of nowheresville to begin with.

YOU WILL…[Read more]

Foundation,
You are wrong!

YOU SAID When prices are going up, the wrapper keeps any capital gain if a wrappee defaults.

Not so under the law. If a wrappee defaults, the wrappee is still entitled to any equity earned above the contracted price.

YOU SAID If prices fall and the wrappee walks, the capital loss is handed back to the wrapper.

The…[Read more]

I apologise for ranting in your thread Woodsman but I just wanted to finish off the story.

I checked with valuer, and there is no problem cancelling val’s. Certainly no such thing as non refundable deposits paid by this finance company.

That was the final straw…… I was fed too much incorrect info by the finance guy for the OTP…[Read more]

Hi woodsman. I am in the process of considering purchasing an OTP property and hope my recent experience may shed some light on the flexibility of lenders and OTP companies that may help you situation.

The first step was to get finance evaluated using equity in existing properties. The OTP company’s financier wanted to refinance my existing loans…[Read more]

I’ve been looking at the melbourne market for house and land packages as investments.

Devine do 4.7% rent guarantee for first 12 months.

One bonus with these seem to be if you put a small holding deposit on a block in an estate in the very early stages of it being released, the value will often jump 20 – 30 grand quickly once a few fancy houses…[Read more]

I too have found a lack of enthusiasm from my girlfriend in the investing department……..sigh.

I suppose all partners have their good and bad points. I am very lucky my girlfriend is great in the love and caring department.

If she was too much like me……….err…….that would be creepy.

Proofs in the pudding guys. (just think of that…[Read more]

I wouldn’t use your home as security. Get a Line of credit and redraw cash. Use this cash for your wheeling and dealing. It is still tax deductible either way.

Neg. gearing works for any investment where the costs (interest on the component of the home loan used to invest) is more than the return you get. rent/dividends/etc.

You can then make a…[Read more]

Find someone with cashflow and no equity. High wage earning young people for example.

easy

Live, Learn and Grow

Lifexperience

I used ING earlier this year and my mortgage broker had organised a loan that was less than what I needed using the deposit I had. I had to frantically organise a Personal Loan to the tune of about 4 grand a week before hand to have the money for settlement.

I only picked it up because I did all the sums 2 weeks before-hand and noticed the…[Read more]