Total Members: 159,186

Mike

  • Mike replied to the topic Sale of house in the UK and implications for CGT in Australia in the forum Legal & Accounting 8 years, 7 months ago

    Capital gains tax is payable in the UK based on fair market value of when you left the UK (ie, date you became an Australian resident).

    Check out zoopla or right move archives to get advertised and sold prices. The process is self assessment but be careful not to over inflate the figures to minimise the tax.

  • Mike replied to the topic Would you recommend property styling for a rental? in the forum General Property 8 years, 7 months ago

    For all of my properties (they’re in London) we stage imor furnish them, especially after renovation. It’s a ridiculously high demand market but they have all rented the same day as advertised to good tenants at above market rate. I think it depends on where the properties are.

  • Mike replied to the topic Share trading for income in the forum Finance 8 years, 8 months ago

    Speak to a specialist accountant that can get you the right structure. Depending on your strategy and broker there will be different requirements in terms of your structure and how it relates the the leverage made available to you. I trade two different strategies (one ASX and one US Stocks) and have a company/ trust structure that works well from…[Read more]

  • Mike replied to the topic Finding builder who built house. in the forum Legal & Accounting 8 years, 8 months ago

    Knocking on the door could be a good start…

  • Mike replied to the topic What do you make of the most recent bubble talk? in the forum Help Needed! 8 years, 8 months ago

    Hey Alistair,

    When you say:

    the Gov still has a lot of resources it can throw at any short term problems and would rather sacrifice our lifestyles than to have the financial system ruined

    What are you referring to and why will it be effective at alleviating short term problems? What is short term in your view?

  • Mike replied to the topic Sydney property crash? in the forum General Property 8 years, 8 months ago

    Thanks for the perspective – really interesting.

    I find it hard to imagine interest rates going up to ‘normal’ levels anytime soon. The UK, US and EU have been banging on about a raising rates for the past 5 years and we’re only just starting to see some movement. Also interesting that banks are trending towards decoupling themselves from the…[Read more]

  • Mike started the topic What do you make of the most recent bubble talk? in the forum Help Needed! 8 years, 8 months ago

    Hey fellow property investors.

    Seems there has been an ever increasing amount of speculation regarding Australia’s property bubble and the imminent bursting of it.

    I’m interested to get some real world “feet on the street” comments and perspectives…

    I personally lived through the 2007/08 crash in the UK and subsequently purchased 5…[Read more]

  • Mike replied to the topic Binvested Buyers Agent in the forum Help Needed! 8 years, 11 months ago

    Hey Richard,

    What’s the thinking behind waiting for the Commonwealth Games?

    Do you think there would be an opportunity to get in sooner rather than later?

    Thanks

    Mike

  • Mike‘s profile was updated 8 years, 11 months ago

  • Mike replied to the topic FIRST POST – Investing with another person – Books ?? in the forum General Property 8 years, 11 months ago

    Thanks for that Corey. I hadn’t really considered the tax implications or downstream issues that you have pointed out.

    I’m going to take a leap and assume the OP’s issue is coming up with the money – ie, 2 people have more than one… what do you think the OP should do – wait it out? Keep studying until he has enough capital to go it alone?

  • Mike replied to the topic FIRST POST – Investing with another person – Books ?? in the forum General Property 8 years, 11 months ago

    I’ve seen lots of successful partnerships in the UK (now I’m in Brisbane looking to partner and looking to invest). Generally they’ve been successful because each person is bringing something to the table the other wants or needs. For example, one person has money but no time or knowledge on finding deals… another example, a builder and…[Read more]

  • Mike‘s profile was updated 8 years, 11 months ago

  • Michael Rodwell replied to the topic The Verdict On Steve McKnight’s 5 Day Bootcamp in the forum Heads Up! 8 years, 11 months ago

    Any plans for another one to run?

  • Walking to run,

    One approach would be to look for a PPOR that you were both happy to live in and offered the opportunity to add value. This could kill two birds with one stone… 3 actually…

    In your original post you mention “2. Rent a granny flat at the new property”. Finding a property that offered you the opportunity to build the granny…[Read more]

  • Hi Walking To Run,

    It might be a un-creative but the easiest way is to not buy the PPOR.

    Why do you want to own the next house that you live in? Real question. Is there something specific that you are looking for that you can’t get by renting? Perhaps you want to make the property just perfect to your tastes etc. If so, I completely get…[Read more]

  • Michael Rodwell replied to the topic My situation – What would you do? in the forum Help Needed! 10 years ago

    Hi Richard,

    Thanks for coming back to me.

    I’m not disputing in any way that it can be done. Just very interested in how you structure the deals and finance for such purchases?

    Perhaps you could give the breakdown at a very high level of how you would do this?

    I’ll give you an example of my most recent project to give you an idea of what I’m…[Read more]

  • Michael Rodwell replied to the topic Can I start with 20%? in the forum Help Needed! 10 years ago

    Nice work Mitch. Starting is the hardest part. Good that you have your partner on board too. I’ve found a lot of people struggle unless everyone involved is pulling on the same rope.

    Why is CF+ your main strategy? What’s led you to make this decision? That’s how I invest btw :-), although London capital growth has been very rewarding over the…[Read more]

  • Michael Rodwell replied to the topic My situation – What would you do? in the forum Help Needed! 10 years ago

    Hi Richard,

    Would you mind elaborating on a client scenario that you mention in your post?

    I’m an Aussie based in the UK and have a portfolio or properties in London but considering diversifying with some property back home.

    Also, what do you consider to be rapid development. For me, starting out in London was difficult because of the high…[Read more]

  • Mike changed their profile picture 10 years ago

  • Mike‘s profile was updated 10 years ago

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Mike

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