Forum Replies Created
J Edwards,
Firstly, I responded to this question of yours once before, as did a few others, perhaps you could do a search and revisit and re-read these answers.
But for the record, I told you then, and I will do so again now, YES YOU WILL LOOSE HALF OF THE DEDUCTIBLITY (that is, you will be taxed on the full 100% profit) through CGT if you sell under 12 months!!!! This is REGARDLESS of how you use the proceeds from the sale. Seriously, if it were that simple, don’t you think investors would be doing it all the time??? Ultimately however the choice is yours, and no-one can make your decisions for you.
Finally, if you are thinking of selling to buy cashflow positive IPs in today’s climate, I suggest you do your homework first, because such are hard to find, and you don’t want to put yourself in a situation of paying so much CGT only to find yourself in a worse situation because cashflow positive properties with good returns (and any kind of growth potential) are so difficult to find (true, not impossible, but definitely difficult in many parts of Oz).
Jo
Try http://www.realestate.com.au go to “Rental Properties”, click on the state of your choice (in this case NSW) and fill in details in the search box, you can even select “Advanced Search” and nominate from $-$ figure, no. of bedrooms, type etc.
The first and best way of learning is to DO things for yourself, rather than be spoon fed, plus it provides a great sense of satisfaction!!! Enjoy.
Jo
No problem Kay, most people are pretty cool in here, except for one ex-mod, I hear she’s a real bit** [wacko] so keep your eye out for her….real pill of a woman I believe!!! [tongue]
Seriously, sounds like an interesting doco, so if you hear when it is on next, I’d be grateful if you’d alert me to it as I wouldn’t mind seeing it for myself. I work with a lot (please note space) [winking] of women who are victims of domestic violence, and although feeding them may not be deemed violent, if the feeders are doing so as a form of torture or to repress their self esteem it is still regarded as abuse. [glum2]
Hope the guilty mod owns up!!! Personally I think it is not just good practice, but good manners to explain any edit/deletion of posts/threads and authors should be notified accordingly of same….It just makes for a more amicable environment all round me thinks. [whistle]
Cheers,
Jo
Hi Bigboof,
This is a very vague question. “Crunching numbers” before buying property will be heavily reliant on what numbers you are crunching; that is, how much you have to spend, how much you want to get for your money (returns), whether you plan to buy positive or negative geared properties, and the list goes on!!!
You will need to be more specific on what you want to know. Basically, it is more a matter of deciding what numbers you intend to “crunch” and what the sort of answers you hope to gain through your numerical analysis.
There are books on so many investing strategies, which is why you need to decide what your plans are; ie. growth or cashflow. If it is strictly to calculate figures, you may not even need a book; a simple calculator can answer your questions.
Cheers,
Jo
Welcome to the forum Kay!!! [biggrin]
No, I didn’t see your post, and can’t say why it was deleted, however as with most of us here at some time or other, a post/thread has been (not just edited, but) completed deleted without notification. Perhaps it was perceived as discriminatory in some way; or someone took offense??? [blink]
Maybe, as is often suggested to us all, you should approach admin (other mods); one of them may have the answers your seek.
Cheers,
Jo
[blush2] How embarrassment!!!! [blush2]
Of course!!! How stupid of me, I didn’t for a minute think of the little rodents, and just blindly correlated it to some property/building terminology, hence didn’t even think outside the concrete square!!! [rolleyesanim]
Many thanks, I think I need to remember to refer back to the basics [grad]….oh the shame [glum2]
Jo
P.S. Yorker, shame on you, calling people names simply because of how they choose to invest. What makes you think one way is superior to the other??? You’re not going to succeed in business with that kind of narrow-mindedness!!!
qwerty….seriously, I just had a mental blank, you know we all get them from time to time…(it must be a blonde thing that occurs every now and again, albeit rarely)!!! [tongue]
Kay, yep thanks for the tip; I know the link: http://www.wordiq.com/
My reference was to the properties being cashcows TerryW, not Steve; he’s the milkman!!! [biggrin]
Yep, and for us short stops who need all the extra height we can get; they are priceless!!! [biggrin]
Hellooooooooooooo……
Ok (putting hand up) pleading ignorance….
What is “lemming”??? Is it a 2004 property buzz word??? Have I been hibernating too long;[blush2] maybe I need to get down and dirty on the ground level more or something, cos this expression is virgin to my ears!!!
Thanks in advance [biggrin]
Jo
Originally posted by WallFlower:Yeah, finally some one that’s shorter than moi. Monopoly i tower over you at a whopping 164 cms.
Wallflower, I always believed you to be a “tower” of a woman and now I can say with confidence that I have reason to look up to you, literally!!! [grin]Ps Sonja, you shoulda gone, the bloke is eye candy, As a mother it’s your god given right to inconvience as many people as you can to have a bit of a whoop up!!
Glad you said eye candy and not eye level, as that would hardly be the case for most people standing next to this gorgeous hunk!!! [eh]Derrrr Way [blink]
It’s obvious isn’t it??? The famous “cashcows” have run dry!!!![grin]
Just kidding Steve, but you gotta admit, he did leave himself open for that one??!![tongue]
Jo
Hi Julie,
Welcome to the forum!!!!
Do NOT sell under 12 months otherwise you will loose half in CGT, provided of course you can sell at all, in the current market. Things are slow, and many properties are taking on average 12+ weeks to even get a nibble, let alone sell.
Cheers, [biggrin]
Jo
Gee I haven’t read this lady’s book, but using the example of not showering to save a few cents, I hope she reinvests the money on perfume instead, as she may need it!!!! Phew….[blush2][wacko][whistle]
Take a look for yourself, and you be the judge Domo.
http://www.somersoft.com/forums/index.php?Cheers,
Jo
I do speak partially out of ignorance as i am trying to work things out ….
Ignorance isn’t a crime Domo, it’s a fact of circumstance, which ultimately through learning can (and does) change. I am as equally (if not moreso) ignorant on many other matters which I know little or nothing about. Never feel you have to justify this state; it is within us all to some degree.
The great thing about this forum is that there are people like yourself who are willing to put an opinion forward & help guide some of us.
I get a lot back in return from those who know more than I do, or perhaps are prepared to take risks that I am not, and as such I learn a great deal too. Stay with us, both here, and at Somersoft, and you will (like me) find there is a lot of “giving and taking” that goes on to benefit ALL who willingly share of their knowledge/experiences!!! [biggrin]
When I said do you homework, research your facts etc, and then we’ll talk, I meant this in the nicest possible way!!! Give yourself time, read lots, ask lots, talk lots, and eventually you will know as much as I do (in fact, probably MORE).
Cheers, [sunny]
Jo
Absolutely Kay, well said!!!! [grin]
[angel] Alleluliah…..I am redeemed [hypocrite]
Errrr sadly [glum2] no (shame file here I come)!!![bawl]
Although when newly single it may have been, but now that the husband is secured, perhaps not!!![guilty]
Thanks Derek, I feel soooooo much better now [blush2][blush2]
Cheers [biggrin]
Jo
No no no no no!!![guilty][guilty][guilty]
Not for one minute was I suggesting that one should forego having fun, and enjoying their lives. This was just an exercise in examining one’s unconscious spending; you know the odd cents/dollars here and there that add up over the course of time, without us actually realising.
IMO one should NEVER forget to enjoy life, and if that means just a few little indulgences, well so be it!!!
Emc I too enjoy my beauty pamperings, facials, manicures, pedicures, bikini/leg waxes, etc etc, and for me, they’re worth every cent; I feel (and hopefully to others, look) like a million bucks afterwards!!!
Cheers, [biggrin]
Jo
While negative gearing is associated with a negative attitude eg I don’t want to pay more tax.
Domo,
You posted just after I did, hence I would also like to (as Derek has already done) comment on this statement. IMO those that view negative gearing in a negative light, do so from nothing more, than out of ignorance. There are pluses and minuses on both sides of the fence, and to say, that one strategy solely is better than the other (for whatever reason) is sheer, unadulterated IGNORANCE. [blink]
Do your homework, research the facts, then we’ll talk!!! [eh]
Jo
Domo,
The best position to be in, is where you have a healthy balance in your porfolio, that is a combination of -neg and +pos IPs to help balance things out.
The biggest problem with most people who are heavily -neg geared is (as others have pointed out) being cashflow strapped. Problems arise when/if these investors need access to money quickly, and liquidity is an issue especially in the current property market, where you can’t just sell something like a house/unit off quickly to supply the needed funds.
Hence, you need property with growth potential (often found in -neg geared) and +pos geared for cashflow, or alternative shares or cash funds to get you through any financial storms.
IMO all cashflow positive or all negative geared IPs without any form of offset gearing, for the sake of liquidity is fool’s play, and it’s only a matter of time before you come undone.
Jo
