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“Probably” ????? Thought there was a money back thingie. Like I said options open–
MMah so after making enough from property and shares to now ‘”iive on our equity” – all this achieved while NOT living in a ‘dog box’ in a bogan suburb (as per the Somersoft way )or buyin humpies to rent to permanently ‘restin’ folk (kinda like Steve used to do) and at the same time educating 4 children through from primary ages in the private system– and never having spent any money on one of these “Education Seminars” I finally let the moths outa me purse and put up $59 to go to The Yardney day at Luna park(Oh I hope that venue name is not a prophetic indicator)– on readin all this thread I seem to have wasted one third of me entry fee all ready!! that’l learn me– Still, i will use me own Motto- Keep me mouth shut and me options open until—-???
Yes , appears that you can escape CGT but what about land tax– here is ref. from O.S.R site
http://www.osr.nsw.gov.au/portal/page?_pageid=33,284236&_dad=portal&_schema=OSRPTLT
from this extract it appears that during your absence you can only charge a rent which would just be enough to cover the rates etc on your house. You are also ubable to claim Mortgage repayments as a tax deduction- otherwise you are liable for the land tax. This is my understanding from this extract but happy to be corrected.
“The exemption will apply if–Income is derived from people who occupy the property during your absence, provided it is no more than is reasonably required to cover rates, water and electricity charges and similar outgoings (but not mortgage repayments).”
Congrats– G.R that seems like a v good price for Marrickville especially in the quiet Sydney market at present–
What qualifications do you need before these gurus will speak to you? From the perspective of an old cynic I would venture to say all you would need to qualify would be $250 to put on the table– I have always been wary of anyone who says only they know the formula– You have a brain, you can read, you have all ready used it to voice your doubts on this Forum- I don’t think you need these Keepers of the Keys- You will get there- I reckon they should be paying You to listen to them LOL–
I once had a swarm of bees swarming onto a peach tree in my back garden– I consulted my yellow pages and contacted an apiarist who came in and cut off the branch where they swarmed and took them away at no cost to me– He was glad to have the bees. A full nest would prob.be more dificult. A relative had same prob and paid for removal. Just pointing out that sometimes there is a low cost solution available. I was v. young at the time with toddlers so was anxious for their welfare.
V good point Derek- agreed- Also I really think you are being over optimistic,Hotty, in assuming your house will be finished when the builders say it will. Long experience has taught me that completion will be delayed– and despite whatever is in your contract you just have to hack it– So I would be delaying the trip until prop. is finished and you had a tenant installed– All the best-
Hi depreciator, If I may ask – How did you secure the Buyers’ Agent to what I will call, list, your property? Did you approach a number of Buyers’ Agents to see if they were interested in your property or did the B. A. approach you after seeing your ad in press or on Net or did your agent give it to the B. A. ? Thanks in advance. I, too am interested in opening up as many avenues for selling as my daughters jointly own a house in inner west, Sydney and the time has come for them to each buy their own individual house as they have ,since buying , acquired a spouse each and I expect that will ,before too long, mean children added so they will each require larger houses. Cheers.
Spoodle– My understanding(not advice) is that in N.S.W. before a property can be offered for Sale there must be a Contract for Sale in place. Therefore the agent should have shown you a copy of the Contract so that you would have seen the Terms such as “deposit on exchange of contracts is 10% .” the usual amount is 10% but it could be any amount. You can ask that the Terms of the Contract be varied e.g. That you pay 5% deposit .It is then up to the Vendor to accept or reject that change to the Contract. Then over to you whether you accept their Terms or changes.
Hi, maybe you can send a couch cover– by mail to the PM for them to fit over the couch if it is just shabby–would be a lot cheaper than entrusting a PM with buying new couch in kalgoolie– you can buy the sort of thing– sometimes called “couch pyjamas” in Target, K Mart etc- They fit over the couch, tuck in and usually have a tie to fold in any excess fabric-
Grs rea– Is that the one on New Canterbury road– ??MMah–never mind the White ants– you won’t hear ’em chompin for the roar of traffic– Tabloid tellie sometimes features this road as stampin ground for working girls of the night, from memory– S’pose you can get the grafitti artists who have decorated the front to come in to paint the house if you wanted to indulge in a bit of charitable reprogramming for local youths.- You are all gamer than I to take this on– So many houses- so much money to make–
blimey I’m so wealthy I can’t be doin’ me sums right– LOL– Ah I better get back to tradin me gold shares– -oh didn’t include today’s value in there- This must be some calculation to make every mug feel good–
Austin, If you make an error– you can’t sue yourself ! If you use a solicitor– you have recourse to going after them if they make an error– you could probably manage your own conveyancing for a straightforward purchase after you had bought/ sold some property through the professionals to get some experience of the steps required but for a first timer perhaps engage a professional– Trust it goes well. Of course there are plenty of incompetent professionals around too but as I said you do have some recourse in Law.
ATM HSBC Bank is offering 5.6% Interest for a 3month Term Deposit. I would suggest some Share trading but it is very hard to call share trading passive income. I find I have to spend quite a bit of time, especially with the speccies. All the best.
Hi Michael, Whilst weddings are nice — Marriage is more important– spouse and I had no money when we married so did not spend anything on the wedding– still was beautiful. I cannot see the point of hiring limos and other luxuries if u are going to return from the honeymoon and live in debt, driving a bomb– Not that I am implying that you are doing this- just emphasising that some sort of sense has to prevail in all this overspending on weddings. I can say this as I sit here looking out the window at the Harbour from my fully paid for “des. res”. Your fiance might be a tad immature. Only you can decide if she will grow out of it and be prepared to contribute to your mutual wealth building. By the way, get a pre Nup agreement. Despite all the nice “trust ‘n love ” posts on that thread. I am willing to bet that when faced with signing one it is the partner that has the lesser ( or usually no assets) that protests about trust etc. Pre Nups benefit both parties if both have assets existing before the marriage. Expecting the marriage to last, love, etc is not the relevant reason. It should just be a part of your preparation for the Marriage–like a health check,or making or changing your will ‘in Contemplation of marriage’ is what you will insert in it if you make it before the wedding. Your fiance should also make hers.Just sensible preparation which will be more use than the frilly bits- All the best, Marriages CAN last- I am in for over 40 years.
What Branch of the Fed Gov “activity” is carried out in the building? If its “clients” are Centre Link services( or whatever is the term for taxpayer funded ) recipients you would have trouble finding a tenant such as a swish Marketing, accountancy or whomever might be attracted to the swish standard of the building. Frankly,such a tenant would not want their clients meeting the Gov’s clients in the foyer. Don’t blast me- that is just the way it is.
Ibglen– The same principal applies– as soon as you sign a contract to Purchase- You then have “an insurable interest” so you should take out insurance on the unit UR buying Cheers.
It is just a tactic in the buyer V seller game. It is designed to give you a hurry up to accept their offer. As a seller you can also use the same sort of tactic. If a prospect is fooling around and not signing a binding contract I have ,once or twice, instructed my solicitor to withdraw the Contract– i.e ask for the purchaser’s solicitor to return the contract to us. That usually results in the REA(if one is involved) springing in to action to get the purchaser to commit. If they don’t they were probably just wasting your time anyway,Hang Cool, play tough.
I just listened to the Audio– I really cannot believe that Martin would not have been aware of the value of the demolition content in the property that he developed in Adelaide and if he was not aware of such an elementary factor in buiding/ developing he would not be someone to whom I would pay money for his seminar. I suspect he put that in so as to appear like an average Joe– “Anyone can make money developing” – to cast the widest net.
Harry- PLEEZE E mail me the details of any of those deals that u don’t want to buy– Thxs in advance–So many properties- so much money to make-
