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Hi Streaker
the ATO provides informative download on what constitutes a Capital Gain event ( a loss included). From memory you may require to ascertain the value of the house when it ceased to be your PPOR. ie. what was it worth when you started renting it out as the C Gain is calculated back to this point as before that it was your PPOR.Hi Streaker the ATO provides informative download on what constitutes a Capital Gain event ( a loss included). From memory you may require to ascertain the value of the house when it ceased to be your PPOR. ie. what was it worth when you started renting it out as the C Gain is calculated back to this point as before that it was your PPOR.
Sunshine Coast going reasonably well, though at present a dearth of renters, whereas a year ago, you could advertise Wednesday and have the tenant move in Friday the same week. Not sure if its oversupply or the number of people moving to the area has dried up, or they are buying their own houses.
Interesting that the doomsayers have gone quiet.
The opportunity to invest and learn alongside Steve, who openly admits (modestly) to not being an expert in all things, but has shown the ability to leverage those who are, has been a highlight of my investing. I dial into all the investor updates and listen. I am constantly amazed at questions that come up time and again, and despite Steve having already answered them, he patiently gives the answer again trying to re-frame his answer to help comprehension, not dissimilar to his earlier posts on this forum.
Has the fund performed? – yes with help from the foreign exchange rate, with growth in the US property prices, with careful management. All three can change, but all three can be covered by planning, planning, planning. It’s not enough to simply buy and hold, the property has to be managed and this is what was promised, is happening, and is now in phase two with the fund taking over the management in house. Looking forward to Saturday’s update. Thank you Steve and the team- past and present.Macca,
there are plenty of UK sites, too many. try http://www.fish4homes.co.ukDoes it make any difference for lending, if you are also a UK citizen? I have been considering purchasing in the 40K quid area as per above as my brother who still lives there has several properties making good returns.
Cat,
why would you do it yourself when someone else, Suncorp, is prepared to pay? This may be an opportunity to learn delegation and project manage the repairers as I suspect your concern is for the quality of the job, meanwhile your partner can be paid for work elsewhere. The insurer has a responsibility to its clients and clearly feels better able to meet expectations by paying for the full cost of the job with a builder/carpenter/etc as that way they have recourse over the provider of the service, if eg. they have an accident, cause further damage, or the work needs redoing. My suggestion would be to help the insurer do what it needs to do to maintain corporate didligence on its spend, whilst being present to ensure that you get as good an end result, ie be a demanding client.
Good luckMelanie,
found your post inspiring. I am behind in the planning and execution of my reno which is 700km away. Found your post good with its real costs as helps to get comparisons. Keep up the post and good luck
RichardThis is the second post I have seen on accountants in Brisbane and the recommendations seem to be southside only.
Anybody know of a property investing savvy accountant on the Northside?
