Forum Replies Created
Look into trusts.
Dom[biggrin]Unless you prefer negative gearing for tax savings this would not be my choice of investing.
My strategy is to have cashflow arriving in my hands monthly (passive income) from the IPs. And spending less time at work thats including my partner.
Its sounds like your situation is rob peter to pay paul. And i can not see any benifit in this for wealth creation other than capital gain for the long term if that is your plan. Morgage brokers will disagree with me on this one.If you do a search through this forum on positive geared properties you will see the benifits.
If i were in your situation i would put everything into my PPOR.And start reading books on IP’s.
Dom
[biggrin]Just a little bit more detail on the area, population 28000.
Their are a few around the 8% return and their could be some that can bring higher returns.
The rent on that particular deal is what the agent has informed me.
Its i Australia and a well known place.
Feel like i am playing 20 questions.
Dom
[biggrin]kay henry,
I have not checked out the deal at all and so i can not give you any of that information unless i talk to the agent. If you or anybody is interested i can email or pm the website.
Monopoly i was interested why it was necessary to be over or under 21 years.My apologies for confusion.
Dom[biggrin]Yack,
If you want it you can have it nocharge no catch.Just PM me. This is not a deal it is not my property and i am not familiar with the area.
And obviously its not in a major city.
Dom [biggrin]melbear,
Its 21, does that count?
Dom[biggrin]g7,
Unfortunatly i dont know anything about the flip structure .So i would probably hold for positive cashflow.
Dom[biggrin]Thanks for your imput guys.
Good to see different opinions.
Westan can’t argue to much with your answer except that on the interest rate issue i locked some of my ips at 6.19% for 5 years 6 months ago and now it is at 7.19% so if that trend continues by the end of the year it will have risen buy 2% or more so someone has to pay?Yes the Greenspan announcement…….. even if as most commentators are saying the rise will be .25% (possibly .5%) . i think the significance and follow on for the Aus scene will cause much concern.
Anyway heading of to new zealand on monday for two weeks with the family for a cold holiday but will check out what all the fuss is about RE over their.
Bye Dom
[biggrin]These guys dont give up they keep phoning you to see what you want to sell. They offer the top price you are selling the property and it is 80% cash and 20% barter points,
dom[biggrin]Thanks monopoly,
Thats where i am heading off now to sign contract. Thats good news for me as i have a other property for sale at auction in july.Dom[biggrin]
Hi Monopoply,
So you are saying that i dont have to lodge my tax return for 2003/2004 until April 2005?And so the actual signing of contract by both parties is when that finacial year is applicable for CGT?(2003/2004)
Thanks Dom[biggrin]
Thanks Mel,
For me to be able to get to this point has been the ride of a lifetime financially.Who would have thought two years ago that i would be in this position to own my home that quickly.Mel i will only need to sell two propertys to pay my PPOR and have cash left over. And that is what i will do and i am not to concerned about the CGT.I consider myself to be a very lucky man to be able to come to this point.And the large amount of interest on my PPOR i would have paid over the 25 year loan far outways the CGT.
And with the extra equity in my PPOR the sky’s the limit. For now my wife and two girls will just sit back and enjoy the extra income.
And i will still have two Positive IP’s. Not bad for a low income earner.
I will keep investing because i enjoy it .Now that money is not a burden life and work will be a holiday.Thanks everyone for your help i could have not acheived this whithout all your help,information,kindness and advice.
Dom [biggrin]
I dont beleive the market is either up or down because it depends where you are selling or investing. Queensland north is still catching the wave and so is WA.
So you would not buy in sydney or melbourne now.But then again.
Dom[biggrin]Y,
I am in the same dilema but i will pay my house of then sell or upgrade and wait and look for the bargains with the rest of the cash. Its difficult but it would be best to wait and see.
Dom
The Mortgage Adviser,
Do you need to form a trust in order to pay the 30% tax.For instance if you and your wife both earned $710000 each would this still be possible whithout a trust?
DomThe question was how was he murdered?
The answer is he was shot to death?Dom
You hve certainly gone out of your way to help me.
WELL DONE
Dom[specool]He hung the hat on the end of his gun?
DomSorry i will try and make this simple my wage is 40k gross my wifes is 30k gross thats it.
For the rental income for three ips 12k each total 36k per year.
Hope this helps .Daerek are you saying the difference between selling them in one year or selling them in three year staggered lots is only 10kfor each of us ?
Dom[biggrin]
As Rob indicated you didn’t tell us whether or not your annual incomes $40K & $30K were wage/salary only or were gross taxable incomes inclusive of net rent.
Sorry they are wages, which i pressume is gross taxable inncome.
Dom
