SD

I don’t know if you are still looking but I have a good one.

Prime Property
Toowong
Barbara Mules is the manager
07 3377 5888
Have got nothing but praise for the way they run their business. They do our IP in New Farm.

‘Eat rich food, barbeque a yuppie’

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Rugby, yeah, i thought that was weird also. Anyone have ideas on how they do this? I think for OTP apartments in Melbourne, there is no stamp duty… but no CGT?? weird…

kay henry

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Just a thought, but if you do not pay stamp duty, is your name actually on the Title? I would not have thought so.

CGT can be explained away only if your are going to make it your PPoR.

‘Eat rich food, barbeque a yuppie’

Hi all

The ENJOLady – thanks for your kind comments, I am very new to this forum and have got a lot of great info from it. It is only right that I try and help other if I can.

The Purplekiss & Blowie – The first Bruce was kind enough to link it to a website so the spreadsheet can be viewed by clicking on this link.

http://members.dodo.net.au/~thefirstbruce/Landtax.xls

Just Allan – happy to help you with the land tax rates but can’t help you with council rates – you will have to do the research yourself. It shouldn’t be that hard to do on the net.

Waratahs to win in 2004

‘Eat rich food, barbeque a yuppie’

I’m geting RSI in the hands from typing and clicking!!!!

Now to answer some questions:

1. From Abbee ‘If there is a threshhold before you have to pay Land Tax, eg: 275,997 in Qld, then why does the spreadsheet have Land value Less than $4,000 paying .20cents in each $?’

– I have no idea why the QLD figures start well below the ‘stated threshold’. But a quick phone call to Queensland Treasury will get me an answer I’m sure.

2. From Abbee ‘Is land tax calulated on each property owned or on the accummulative value’

– It differs from state to state. You will get the answers from each states Land Tax working sheet.

The URL’s to each state are very long and I don’t particularly want to type each one in but here is QLD’s and ACT’s for example: http://www.osr.qld.gov.au/taxes/land/index.htm
http://www.revenue.act.gov.au/r_ltax.html

A simple search of each state government’s website will find the right page.

3. From Abbee ‘What are the rebates? Tax?? How does this work?

– you will get the answer from the above URL – it is too difficult to explain it here.

And BTW Thefirstbruce – I do not know how to ‘whack the file up on a web or ftp site, and post a link’ but am happy to learn

AND FINALLY – I was dissappointed at the World cup result but it was a great final. I thought the Wallabies gutsed it out so well and could have pulled it off but probably the better team won on the day.

Happy reading of this tome of wisdom!![]

‘Eat rich food, barbeque a yuppie’

Am I debunking a myth here.

I thought that the 130 properties Steve and his partner bought in 3.5 years means that they do not necessarily have 130 properties now. They bought and sold a number of them in the 3.5 years and may only have 40 or 50 in hand at one time.

Am I correct?

That would be how you finance the next deal, itsamorey. You sell and use the capital gain for another 2 properties (or more if your lucky)

‘Eat rich food, barbeque a yuppie’

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Me too please Rugbyfan (if it’s still on offer!).

Email – [email protected]

Thanks very much – I bet you’re regretting volunteering that bit of info! Much appreciated though.

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Yeah kinda didn’t realise the effect of my post. Maybe its my pheremones – I don’t know!!!

Anyway, check your inbox and it will be there.

Done check your inbox.

Don’t forget about land tax on your PPOR in NSW too although the threshold is very high.

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I have spent approx. 5-6 hours searching the internet sites of http://www.domain.com.au and http://www.realestate.com.au for deals that qualify for the 11 second test (from S. Knight’s book).

I haven’t found one that qualifies. Where are these properties that are so cheap to buy and deliver good rent.

Also, you can use the reverse of the 11 second rule to search (good luck though – I can’t find one) i.e:

Asking price / 1000 x 2 gives an approx of the weekly rent you need

instead of

Rent / 2 x 1000 should be less than asking price

Regards,
Stephen.

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Flatcat

They are out there definately – I have just been doing some due diligence on a town I spotted two possible IP’s in yesterday. If the due diligence proves a good thing and then I will offer. If it comes off it will be something like a $45,000 invest for $170 a week rent (already tenanted).

They are there, just try to look outside the square a little and concentrate on areas that are maybe outside your ‘comfort zone’

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There was a post a little while ago concerning EZ-RENT, was anybody able to get that to work using windows[?][?]
I tried with two different windows versions without luck… any sugestions[?]

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Works fine with XP professional