Forum Replies Created
- learningproperty wrote:Hey Denis, What about checking out CCorp’s Property Developer Course, that way you get an insights into how your property is valued in the eyes of a property developer.
Check out this one, I highly recommend it:
http://www.nicciandlee.com/blog/internet-marketing/propertydevelopercourse/Is there a lot of marketing from these two day event? The reason I ask is often these conference give you very little information material but crap load of marketing BS.
Dan42 wrote:theplatypus wrote:Yes but how is the capital gain amount reached? I mean, if I don't get it valued now, then when I sell it in 10 years, won't they calculate it based on its value then rather than the value BEFORE I moved in? Whereas if I get it valued now, then I will know exactly what the capital gain was before I moved in and whatever increase in value there is while I'm living there shouldn't apply?Getting it valued will have no effect on how the capital gain is calculated.
CG is worked out on the percentage of time the property was income producing.
ie – Purchased July 2005 for $200,000
Moved in July 2007
Sold July 2010 for $350,000
Property was an investment for 40% of the time (ie, two years out of 5) so your capital gains is ($350,000 – $200,000) x 40%.
Dan42 is right this is the same information that I was given from one of Margaret Lomas’s books as well. Think you might need to move to a different accountant.
I will advertise your rental property on over 12 sites that include http://www.realestate.com.au and http://www.domain.com.au for $149 to list and $99 per month. It is very unusual to require the extra month. This is the most comprehensive online marketing package available for landlords at the lowest cost. I am happy to be proved wrong if there is a better alternative that I am unaware of.This looks quite interesting. Do you mind if you could possibly PM your direct contact details for me to speak to you directly?
Wow what an overwhelming response. I will look into all these avenues. Thanks
Can I ask what it means by a rooming house?
that's disappointing that the ebook does not cover in details about property investment because that's the part I would love to learn more about.
It seems that everyone in this forum has given me the right idea. I would have to firstly educate myself and armed with the right questions before going to a taxation lawyer. JJ7 after reading the ebook from trustmagic were you confident about what structure to adopt for your trust.
I think that is my main concern at this stage.
Well Terry,
I kind of know the basic in terms of what trust in want, but setting it up I would imagine you would need the assistance of a professional for that wouldn’t you? Terry I just read another post you mentioned that you can’t offset losses against your income in a trust. However one of the books I’ve read outlines a Property Investment Trust that allows you to offset any losses. You thoughts?
Come on people. I’m sure someone must know a good taxation lawyer that they’ve been hiding.
I’m based in Maribyrnong.
cataldop wrote:Recently had a 2.09KWh system installed by Nu Energy but it's not offically connected to the grid yet by Tru energy as apparently the paperwork has gone missing.Based on the inverter data logging, the system has averaged 6.91KWh per day (Quoted an average of 6.76KWh per day) in the last 2 weeks of July (14 days) so I'm guessing that I might get 8 – 9 KWh per day during summer as there will be up to an extra 4 hours of light available.
If this works out corrrectly 7.5KWh per day x $0.66 x 365 days = $1806.75, Cost of installation $5129, ROI=35.2%.
I'II update this topic in a few months time once I get my first bill that includes the net export to grid figures
Shouldn’t it be 7.5KWh per day x $0.66 x 90 days = $445.50 for summer months.
Your $1.8k ROI is a bit ambious since you didn’t factor in cloudy/rainy days.
Hi Jacui,
I have read some of her book and they're actually quite good that was the reason why I decided to look into some of her courses.
I did search for it under destiny finance solution but really wanted to get people's experiences before jumping into the deep end.
I'm just very skeptical parting 2k for a course that you can learn through books.
Even though it says that you can get a full refund if you're not satisfied with the course but one would assume that you would have to go through a hell of a lot of trouble to get it back.
Your feedback is welcomed
-Alex
Yeah I can I had the same enquiry as well and rang the FHOG hotline. They have confirmed that if the previous properties you have bought are purely investment purposes and later on down the track you want to purchase a PPOR you can still claim FHOG.
propertyboy wrote:What is the name of the property development app?They tell you about the app but dont give you the name to search for it in the App store.
You download an app called Layar then register and bob’s your uncle. The property development app should be in featured I think. Extremely useful app.
dean kamanis wrote:99% in Husbands name 1% in your name,.To achieve max tax advantage ,then 1 year before you decide to sell it reverse it and put most tax advantage in your name.Otherwise my understanding is hold onto the property until retirement and you avoid CGTCan you actually reverse the ownership percentage down the track? How would this be done?
Sorry RL may i ask if you have a superannuation fund it might be worth checking whether they have income protection this might provide you an income till you can work again.
I basically did the loan through the bank rather than through a broker at the time loan looked well structured but now that Trying Investor has mentioned cross securitisation that I realised I made a mistake. Back to the drawing board then. Anyone know if changing the variation of the security would incur a fee? If so how much?
Thanks everyone who contributed and Terry if you’re based in Melbourne I’ll sure as well seek some advice from you when I look at another PR in the future. Keep up the good work mate.
Very well expained Terry that does make sense now. I’m afraid I’m in the same boat as Trying Investor and the bank refuse to change the loan structure prior to settlement.
So let me get this straight Terry. Just say I have an investment property that I bought for 100k a while ago and paid for it all. Current evaluation comes to 220k. Since ten I went out to buy a property investment worth 350k. The bank is willing to lend me 105% therefore total loan comes to 367.5k.
I would want to keep this to around about 80% LVR so I take out a loc 25% from my existing property investment to service the new investment.
Therefore (367.5k*0.25) = $91,875.
Therefore I now have 220,000 – 91,875 = $128, 125 equity left over.With the equity left over am I able to then take out another LOC to buy another property but still still be able to keep my existing title?
So in two loans for the existing property and two loan for the two new property.
I got to say there’s a wealth of knowledge in this forum. Thanks for all the advice.
Wouldn’t the bank still hold both titles if you’re taking a LOC?
