Total Members: 159,074

Limited Recourse

  • Limited Recourse replied to the topic Bank refusing to allow or accept a revaluation of my property in the forum Finance 13 years, 11 months ago

    Matt your getting your knickers in a knot over something that isn't important. Better to expend your energy on acquiring another appreciating asset rather than worrying about what you already achieved. If its your home its not an asset but a liability your paying with income after tax rather than being paid and claiming a deduction on your…[Read more]

  • Limited Recourse replied to the topic Next investment, City or Country ? Strategy in the forum Help Needed! 13 years, 11 months ago

    The problem with most cash flow positive properties is two fold. First in order to purchase a cash flow property where the rents exceed the outgoings the amount of Capital growth is often limited because of the location. The second issue if it is cash flow positive is that your invested funds have to work harder because you pay more tax when…[Read more]

  • Limited Recourse replied to the topic The AUD is flying, are people doing anything different? in the forum Forum Frolic 13 years, 11 months ago

    The high $A has come full circle. Back in 1974 when I first arrived in Australia it took $1.50 U.S. to purchase an Aussie $.I started in July 2009 using the rent money from my properties in our Super Fund which are paid out to build a reserve of Gold Bullion so that 5% of our super assets will be in Gold Bullion.Gold Bullion long term is a te…[Read more]

  • Limited Recourse replied to the topic Australian Property Bubble (article on Associated Press) in the forum General Property 13 years, 11 months ago

    Hi DWOLF;                    I'm not a blue sky property investor. Times are tough. The last 20 years has been easy to make money in the property market. The next 10 years will sort out the wannabees from the real investors. The reason why I buy pencils with erasors on the end is it helps when I make a boo boo  I call it my investment educatio…[Read more]

  • If your a serious property investor and you want to go to the next level then your better off to sell your family home and rent a nice house (so your wife doesn't divorce you) Your home is capital gains free. Set your finances up so you have an investment reserve before you proceed to your next investment property. A good rule is to have 6 months…[Read more]

  • Limited Recourse replied to the topic Somersoft – recent moderation goings on in the forum Opinionated! 13 years, 11 months ago

    Hello Winston nonrecourse on the Somersoft site before they kicked me off Much nicer group of people here. With all the quality people that Keith the moderator at SS have pushed out its populated by mostly light weight wannabees like our friend Keith.This site will enjoy your insight. I have found people a little more respectful of the message th…[Read more]

  • Limited Recourse replied to the topic Australian Property Bubble (article on Associated Press) in the forum General Property 13 years, 11 months ago

    So investing in real estate is terrible for the economy eh?…. We should all go out and buy shares so that Goldman Sachs and the rest of the shake down merchants can help the economy grow My properties provide the state government with a river of gold in good and bad times called land tax and stamp duty. The councils get money from my rates to…[Read more]

  • Limited Recourse replied to the topic Tell Me How You Got Started :) in the forum Help Needed! 13 years, 11 months ago

    [That's bad advice. You shouldn't invest in property for tax concessions. The choice you make comes down to many factors, one of which is your individual risk profile. What do you feel comfortable with?There's no real right or wrong answer – it comes down to what you feel comfortable with. All three options above, in my book, are better than doing…[Read more]

  • Limited Recourse replied to the topic Property and Silver – Mistake or not mistake in the forum Hello 13 years, 11 months ago

    Hello Intrigue;                          I have purchased gold bullion through my super fund from ainslie they are a reputable firm. You can also purchase gold/silver through the Perth mint.Back in 1978 I had a student loan of $600 that I was going to use to purchase silver futures until my father got wind of my scheme and put a stop to it. I watc…[Read more]

  • Limited Recourse replied to the topic BORROWING MONEY USING UNIT IN PROPERTY TRUST ASSET AS SECURITY in the forum Finance 13 years, 11 months ago

    Hi Jacqui;                  nab did it for me back in 2005. I set up a hybrid unit trust and I personally borrowed the funds and the building in the Trust was used as security. I had originally wanted to use a Hybrid discretionary trust but my solicitor guided me away from that. He set it up so that all the income units flowed back to me plus m…[Read more]

  • Limited Recourse replied to the topic Keeping Income Tax to a minimum in the forum If you invest in new 13 years, 12 months ago

    If you invest in new property and obtain a depreciation schedule you will get an immediate non cash deduction of 2.5% of the total value of the building each year for 40 years. Please note that is the building component that depreciates not the land. So say you purchase a $400,000 investment property and the building is worth $200,000, voila thats…[Read more]

  • Limited Recourse replied to the topic Tax Deductability of Loan Interest in the forum Legal & Accounting 14 years ago

    If you also want to get rid or reduce most of that capital gain you buy another IP in the same financial year in the month of June ideally and take out a interest only loan prepaying the interest a year in advance. This can be offset against the capital gain.

  • Excellent response Mr501                                                         Everyone has an opinion but in a court of law its called heresay.The safest course if your not sure is to obtain a written legal opinion as each case has its variations.Regards NR

  • Hello grateful;                        Back in the early noughties we had a commercial property that our SMSF controlled that needed significant improvement made on it in order to lease it out.It meant reborrowing up to the original loan. The tax office and our accountants told us it was a no go. We didn't accept the advice because commercial…[Read more]

  • Limited Recourse replied to the topic Unpaid present entitlements in the forum Finance 14 years ago

    Your correct Terryw the trust doesn't have the cash and as far as diluting the other units the value of the property has increased 150% in 5 years. More to the point we bought well . As for diluting the value of the other units we started with $1 units and the accountant has not bothered to revalue them even though I have made him aware of the…[Read more]

  • Limited Recourse replied to the topic Unpaid present entitlements in the forum Finance 14 years ago

    Terryw & Dan42;                             Thank you for responses. Terryw;          In the detailed balance sheet under current Liabilities/Financial Liabilities/ Unsecurred/ it has Unpaid present entitlements and then my name. The Hybrid trust does have a corporate trustee but the profit flows back to me directly i.e. 100% of the fixed incom…[Read more]

  • Limited Recourse replied to the topic Any info on NRAS housing in the forum Help Needed! 14 years ago

    Just a word of caution with regards to any government scheme such as NRAS. My take is stay away from anything to do where you are reliant on the government doing the right thing. With this scheme you charge a rent that is below market rates and get some government tax incentive.Cast your mind back to 1. the Telstra share float, 2. the Victorian…[Read more]

  • Limited Recourse replied to the topic Seaford, VIC in the forum Help Needed! 14 years, 2 months ago

    Keep renting and watch your investment property compound into a million dollar investment. A home is not an investment its a lifestyle that costs you money to maintain. You can have a nice home but you need to allow your investment seed to mature first.

  • Limited Recourse replied to the topic living off equity in the forum Creative Investing 14 years, 2 months ago

    [Sounds like you've done well.One question is- do you think that paying off as much of the priciple early on (or any time) cost you money in the big picture?. I say this because this money can be used as a deposit for an additional property.30% LVR's seems very consevative and a very low risk tolerance.I was told that a 60% LVR is a point that…[Read more]

  • Limited Recourse replied to the topic The Climate is changing in the forum Forum Frolic 14 years, 3 months ago

    Yawn. When I was a boy we had the doomsday clock set at one minute to hell before nuclear war was going to obliterate all life forms on earth. In the 1970's when the first oil crisis (government tax scam) was hoisted on the unsuspecting public, I remember my father laughing and saying there was enough tar sands oil in Alberta Canada alone to s…[Read more]

  • Load More

Limited Recourse

Step 1 - 0% Complete

Fill Out Your Member Profile Below

Fill in the required fields below to complete your registration.

Registration not only grants you full access to this website, but will also enable us to send you our newsletter, latest investor tips, strategies and information about events/products relevant to investors. You can opt out at any time.

Used to log in to the website and for targeting with messages. Alphanumeric characters only. No spaces allowed..

Member Login
Lost your password?
×
159,074

Register Free To Unlock Unrestricted Access To PropertyInvesting.com

×
1-Day Millionaire Mastermind Workshop - Only LIVE Training in 2019!