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  • Profile photo of PropertySeekerPropertySeeker
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    @propertyseeker
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    Post Count: 43
    August 21, 2016 - 12:53 pm

    Hi all,

    Thanks for the replies. Yes I will also have a registered agent to manage the tenants, my cousin will just be doing admin stuff like paying bills like strata/water/council, selecting tenants (short listed by agent), attending strata meetings etc. Initially I had the agent doing all this but they didnt do a very good job so I took it back and did it myself, now I’m trying to offload to my cousin.

    So it is tax deductible which is great, now the question is how much should I pay him? Or should I say how much he charges me, is this entirely upto us how we decide this? I’m thinking of $1000 quarterly, making it $4000 yearly for his services. Is this too much, will ATO have an issue?

    Regards,
    PropertySeeker

    Profile photo of PropertySeekerPropertySeeker
    Participant
    @propertyseeker
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    Post Count: 43
    May 10, 2012 - 5:34 am

    Hi all,

    Well I actually purchased another unit to live in while renting the house out. Does that mean that's my PPOR?

    What exactly is considered a PPOR? Do I have to register somewhere?

    Thanks
    PropertySeeker

    Profile photo of PropertySeekerPropertySeeker
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    Post Count: 43
    February 9, 2012 - 12:00 pm

    Hi all,

    thanks for the responses. A rough number would be about 400k LOC. Only 2 IPs have positive cashflow the other 3 are still negative.

    I was hoping that I wouldnt have to enter the stock market as it seems too volatile and risky. Perhaps manage funds would be better suited for me hmmmmm

    Thanks
    PropertySeeker

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    February 8, 2012 - 12:26 pm

    Hi everyone,

    so it seems that LOE is off the table. I currently have 5 IPs with a bit of equity, what would people in this situation do now? what is their technique to retire? Selling seems abit wasteful and CGT isnt attractive. My goal is to retire

    Thanks
    PropertySeeker

    Profile photo of PropertySeekerPropertySeeker
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    February 6, 2012 - 9:44 am

    Hi all,

    thanks for the response. Terryw what do u mean by capitalised loans?

    I've been investing in properties for about 6 years now and not exactly sure how i can use these to retire. I could continue to buy more however it seems I would just have to continue to work to service them and never stop…..

    Thanks
    PropertySeeker

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    August 21, 2011 - 6:58 am

    Hi Jamie,

    I guess I would like to buy a house since my PPOR is currently a small unit. However if I sold the IPs I would be hit with CGT, is there a way to avoid selling? or perhaps selling and avoid CGT?

    Thanks
    PS

    Profile photo of PropertySeekerPropertySeeker
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    November 20, 2009 - 10:27 pm

    Hi Everyone,

    i still have not settled!! the vendor claims they have went to tribunal but since they submitted a wrong name the need to re-apply for another tribunal, which is on 3rd Dec?!? I mean, what are they doing?!?

    I spoke to my lawyer and she simply says I have to wait….its soooo long now….is there any compensation for the buyer??

    Thanks
    PropertySeeker

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    October 18, 2009 - 5:38 am

    hi everyone,

    actually yes, VP was on the contract and the tenants are not on a lease. I asked for a late settlement, hence giving them 10 weeks to settle, the selling agent told me that the tenants will be out within 6 weeks but they are still there now and it is currently the 11th week.

    I'm worried to sign the notice to complete because after 14 days and nothing is done, will they just give me back my deposit and i'll lose the place?

    Thanks
    PropertySeeker

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    June 11, 2009 - 4:49 am

    so that 30K from my equity is also consider "borrowed" money and I have to pay interest on that as well?

    Thanks
    PropertySeeker

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    April 16, 2009 - 8:24 am

    I got it now, i just called up strata management, they had the details

    Thanks for the response everyone
    PropertySeeker

Viewing 10 posts - 1 through 10 (of 10 total)