Forum Replies Created
Hi Patrick,
I would love to get the links to find out more about gladstone, being a Queenslander myself. If you could put them up that would be great.
Lara
Lara Hansen
Hi Steve,
As my partner and I are renovating properties, and hoping to get ahead by doing so, I found your article in the newsletter informative, and reinforced to us that we are on the right track. However, I do have to agree with Purplekiss, in that, we are doing a lot of the hardwork (well my boyfriend is anyway) in doing the renovations but this is the only way we can really afford to at the moment. Down the track it would be lovely to be able to afford to pay tradesmen, in the mean time my boyfriend is one, so by him spending sparetime renovating for us, we are hopefully one day going to be able to afford it to be his full time job, and eventually one day the renovations will be someoneelse’s job with us just giving direction. As we are just starting out though, I don’t really see any other way that we can afford to be doing the renos. So far he has done a great job and enabled us to make very good profits, funding our next real estate projects. I guess we all just have to take advantage of whatever your expertise are. [biggrin]
Thanks for all your great tips and advice, this forum and your books are great!Lara
Lara Hansen
Thanks Smart Cookie! So, is that what I have heard (in the forum) by the term, spotters? How do you locate these people? do you have to charge them even if what they find is not what you are after? are these people able to find you cash flow positive properties? Sorry for all the questions.
I am just new too, obviously a dumb question, but what is a buyers fee? I live in Qld and would like to learn more, could someone please explain the concept.
Lara Hansen
Hi Jaffa,
Thanks so much for the calculator. It is very impressive. Awesome that you are willing to share your knowledge! Could you please explain to me (a novice) why you times the rent by 500? and also what you mean by risk free return? Thanks heaps.
Hi,
I just sold my house in Jindalee on Monday. I lived there for three years, but left 18 months ago to move up north. Jindalee is a lovely suburb to live in. I was a few blocks away from the river, people go jogging down there all the time, there is a dog park down there, the people were lovely, everything you needed was there, restaurants, bakery, newsagency, gym (I worked there too, it is very good, I miss it heaps up here!). I would totally recommend living in Jindalee, it neighbours Mt Ommaney which is a very nice suburb too, with a few celebrity residents which you may run into around the place. 17 Miles Rock, I don’t know too much about, but it didn’t really appeal to me much driving through it. I am a teacher and did a contract at Forest Lake College. It is an excellent school, great teachers, good students, totally recommend it. Hope this is helpful, please remember it is just my opinion though.
Thanks Jo, brahms and GP! I now understand exactly what you are all saying, heaps clearer! So, if there are two people who own a property, can you then divide the profit between the two, and split the CGT? If you purchase in tenants in common, can you specify percentage owned, so that if one earns more than the other (in different tax brackets) then the one earning less gets the majority of the profits (for tax purposes only) to reduce the tax. Would that work?
Thanks for your reply Jo, but I am still confused. When you say that you get taxed 100% within 12 months, what is that percentage, surely not your whole profit? And after the round a bout 12 month mark, it is only 50% of what it is within 12 months is that right? And you say that they deduct stamp duty, real estate agent commission etc before working out your profit for you to be taxed on is that right?
Sorry, just haven’t had to consider this before so want to make sure I have it right.
ThanksHi,
Yes I was a tenant, then bought a house, then due to work was a tenant again and a landlord, then bought another house to end being a tenant as an investment and also to stop having to be one, hated dealing with property managers. So have to agree with Investorgirl, that being a tenant makes me an understanding landlord as I know how frustrating things can be. So I try to look after them the best I can. And this seems to have worked, as they are the only tenants we had in the property for the 18 months, and now that we wish to sell, they are purchasing the property.Lara Hansen
Thanks very much for that. Good to hear confidence in the market still. Will suss it out with a few real estate agents though perhaps as well. Thank you!
Lara Hansen
Hi,
No expert, but I’m pretty sure that if you sign on the 16th June, but settlement isn’t until 16th of July, then you won’t need to pay tax until you get your tax done for the 2004/2005 financial year, as that is the year you will receive the money.What did you have in mind for this group? I live in Townsville, but only moved up here 18 months ago. Was in Brisbane for 5 years before that.[biggrin]
Lara Hansen
