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May 9, 2003 - 10:03 am
Shralper, thanks, i am mainly after growth potential. what type of infrastructure ie public transport, shopping complexes are close by.
Aberfoyle Park and Happy Valley seem to be cheaper suburbs but is that due to the location or the types of property?
Thanks Chris
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May 5, 2003 - 11:37 pm
Dear Tim and TrueBlue
Thank you for your help its greatly appreciated. It is reassuring to have this feed back and clarrification from you both.
Yes I got it back to front , it is a Pty Ltd ast for Family Trust. No commercial property as yet so no need for GST at this point of time, but do have ABN.
Many thanks
Isagold
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April 30, 2003 - 12:30 am
Michael
Thanks for the clarification. This is an excellent forum. I have since downloaded the CGT guide at the ATO and will read it thoroughly. How paticular are the ATO about mailing adresses. I have no problem in calling House 1 in NSW our PPOR and have all the existing NSW mail diverted to QLD, but should I continue to tell everyone at my new location in QLD that my address is still in NSW. i.e if I get a loan for House 2 in QLD surely they would not accept my old address in NSW as my current address. I hope the ATO are reasonably flexible on their mailing address rulings. God that is confusing, I hope you understand what I am trying to say.
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Richard
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April 29, 2003 - 12:54 pm
thanks Mini, ALL advise welcome.
We are taking it slow and learning a lot.
Regards Dot[]
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April 29, 2003 - 6:32 am
Hi
Stamp duty is deductable in the ACT as the land is not ‘freehold’, it is ‘lease hold’. This has been clarified by the tax office and I have done it myself.
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the_duck.
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April 29, 2003 - 6:02 am
Thanks for the advice everyone.
Kevman, what did you mean by “If your current house will increase greater than your new house then you can keep that house as your PPOR for 6 years. That way if you move back it is still CGT free.” I thought if we rented it out it is no longer our PPOR and we will incur some CGT even if we move back and sell it in the future. What is the significance of 6 years ? How do you keep ypur IP as your PPOR for 6 years?
You are correct that the uncertainty of moving back or not creates some difficulties.
Thumbs down to the company idea which is what I thought after doing some research. To be honest, the whole trust scenario sounds too difficult also in this case. I will consider it if I buy another property that I know will be soley an IP.
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Richard
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April 24, 2003 - 6:59 am
You are not looking hard enough. Like most Perth people you may be blinded by bias and the stigma attached to certain areas. For you to find CF+ properties in Perth you must get rid of these thoughts completely. I know I live in Perth but grew up in Sydney which means to me I look at areas without bias or predisposed opinions.
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April 22, 2003 - 12:51 pm
What is interesting is that a person i have known for the last 10 years was implicated in this story (i didn’t see it but was told from a mutual friend).
A few friends have invested with him over the last 4 years and are still waiting for the said properties to be valued at what they were supposedly worth 4 years ago!
How do you tell a friend “I told you”, and that their friend has ripped them off?
Chris
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April 22, 2003 - 7:12 am
At five IP’s and a full time job and I have hit the WALL! I don’t know how people handle tens and tens of them!! Renovations also add to the problem!!
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April 22, 2003 - 1:13 am
My question is kutty, why do they hold seminars, if they are so good at property investing why not stick to that. rene rivkin is the perfect example, he has 17k people on his programe that he tells to buy a stock, but in the mean time he buys in b4 everyone else at a lesser amount and gets out b4 everyone else gets out, and for this he charges $600 p/a. Make no mistake these blokes are only after one thing( that includes steve aswell) the almighty dollar.
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April 22, 2003 - 12:16 am
But in the mean time you still charge them huge amounts to come and hear you talk, and you sell them hope,
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April 22, 2003 - 12:00 am
And how is this forum any different to those crooks last night????
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April 21, 2003 - 11:50 pm
Peter its 430 * the average australian weekly wage.
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April 21, 2003 - 3:41 pm
soshie i have never been to a seminar, because i have my own theories, i beleive if i act like a sheep, the most i will be come is apart of the flock, as steve says do things differently, anyway i dont want to talk to you as you have no idea, go do the dishes, i put it to you that you are a dictator. Free speech is not allowed in this forum and you control that.
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April 21, 2003 - 9:03 am
FREEDOM i dont think you should be commenting on the value of steves forums, as you havent been.
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April 21, 2003 - 9:00 am
Soshie, Do you have any idea of what you are talking about. I have never read a post as long as yours that is about nothing, please answer the question or dont bother posting and wasting the forums time, thank you.
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April 21, 2003 - 12:54 am
Lived in Cairns for a few years – wouldn’t go near Edmonton with a Barge Pole!!!
Too far (relatively) from the City and a young person or old person who would live in the bedsit would rather live nearer to facilities. As for being a successful motel – well I would rather stay in Cairns for the night and there is not much passing thru traffic in Cairns.
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April 20, 2003 - 2:37 pm
Get a indipendant valuation on the place
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April 20, 2003 - 2:30 pm
None of you are answering my questions, most houses return around 5% p/a for their investors, while with a cash positive property you need around 10% return on investment p/a. 5% of 200k is 10k, while 10% of 100k is 10k. both return $200 p/w, I think even a renter would be able to see the difference in a property in the same area the cost two times as much. My question is how do you compete with a house that is worth twice as much as your property???
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April 20, 2003 - 2:03 pm
Soshie, I will make it simple for you. Why would any one pay $200 for something when they can get the same thing for $100,???? Do you understand now???