ozpropertyguru replied to the topic Due Diligence When Purchasing an IP in the forum General Property 11 years, 6 months ago
I'm looking at flipping for profit – that's the strategy. Since writing the question I have found a lot of material online so thanks again people for your contribution.
Best regards,
Sam Barry
ozpropertyguru replied to the topic Due Diligence When Purchasing an IP in the forum General Property 11 years, 7 months ago
It's a house.
ozpropertyguru replied to the topic Funding a Deposit through a high Valuation in the forum Finance 11 years, 7 months ago
If I could run all the numbers by someone that would be appreciated.
Cheers all,
Sam
ozpropertyguru replied to the topic Funding a Deposit through a high Valuation in the forum Finance 11 years, 7 months ago
Thanks, I've PM'ed you.
ozpropertyguru replied to the topic Funding a Deposit through a high Valuation in the forum Finance 11 years, 7 months ago
Thanks Terry, I'm gonna call my broker & accountant after the holiday to see what position I would be in.
ozpropertyguru replied to the topic Funding a Deposit through a high Valuation in the forum Finance 11 years, 7 months ago
Thanks guys! My next question is.: Let's say the spreadsheet say's that the property is going to cost me about $80 per week. Would tax benefits cover this to make it neutrally geared? Do people rely on tax for an IP to be positive or neutrally geared?
Happy Easter to all,
Sam
ozpropertyguru replied to the topic Funding a Deposit through a high Valuation in the forum Finance 11 years, 7 months ago
Shahin, do you mean input the total price of property as well as deposit? Or the full loan amount. For example, loan amount $270k and 30k deposit?
ozpropertyguru replied to the topic Funding a Deposit through a high Valuation in the forum Finance 11 years, 7 months ago
Jamie, could you recommend a link to a webpage that I could use to start learning how to crunch the numbers? I need help using numbers to know if an IP will be positive cashflow or neutral cashflow. If you know a page which contains all the formulas please let me know.
Cheers,
Sam
ozpropertyguru replied to the topic Funding a Deposit through a high Valuation in the forum Finance 11 years, 7 months ago
Thanks guys! That being said, that would also mean if you funded the deposit yourself you could instantly refinance and tap into the equity to purchase another IP?
ozpropertyguru replied to the topic CGT on Personal Home in the forum Legal & Accounting 11 years, 8 months ago
Cheers for the feedback.
ozpropertyguru replied to the topic CGT on Personal Home in the forum Legal & Accounting 11 years, 8 months ago
Hey Jamie,
The thing is I don't own anything else. So for the time I'd be living in it & working with people to do it up it would in fact be my primary residence. I think flipping it would be the monetary bonus.
It's good to know that it's totally CGT exempt.
Cheers,
Sam
ozpropertyguru replied to the topic Dymphna Boholt Growth and cashflow in the forum Heads Up! 11 years, 8 months ago
Thanks. Yes, it does help.
ozpropertyguru replied to the topic Dymphna Boholt Growth and cashflow in the forum I attended the 1-day free 11 years, 8 months ago
I attended the 1-day free event and I ended up signing up. I haven't yet received the DVD's though.
Dymphna is really good at selling the dream of being financially independent. However, Steve McKnight really hits you with a all the facts needed.
I haven't been to the bootcamp so I can't really say if she's for real. A week after signing up I…[Read more]
ozpropertyguru replied to the topic Dymphna Boholt Growth and cashflow in the forum Heads Up! 11 years, 8 months ago
I attended the 1-day free event and I ended up signing up. I haven't yet received the DVD's though.
Dymphna is really good at selling the dream of being financially independent. However, Steve McKnight really hits you with a all the facts needed.
I haven't been to the bootcamp so I can't really say if she's for real. A week after signing up I…[Read more]