Total Members: 159,208

shanebal

  • shanebal replied to the topic Investor Needed in the forum General Property 21 years, 1 month ago

    I just thought I’d take some time to reply to you Pebbles as I think there are some things you haven’t considered.

    Tax. Both Income and GST. I assume this will be done through P/L company so you don’t attract CGT. For each prop you’ll have to pay 10% GST. And on your EBIT you’ll have to pay company income tax at 30%.

    Interest payments. Your…[Read more]

  • shanebal replied to the topic Renovation for starters in the forum General Property 21 years, 1 month ago

    1. Yes. CGT is a federal tax initiative.
    2. If by cosmetic you mean inexpensive, then no.
    3. I don’t think so, but you can claim depreciation on your renovations but this is only good if hold the property.
    4. Haven’t looked at the example…sorry. [:)]

    Regards,

    Shane

  • shanebal replied to the topic Is this mortgage broker being honest with me? in the forum General Property 21 years, 1 month ago

    Another thing Karl,

    The bank will probably want a registered valuation, not a real estate estimate. These can be two very different amounts.

    Regards,

    Shane

  • shanebal replied to the topic Anyone for NZ IP’s? in the forum General Property 21 years, 1 month ago

    BTW,

    I’m only going to forward general property and investment details:

    purchase price
    number of beds
    address
    current return
    contact details

    It will be up to each of you to take it from there. The types of properties I’ll be looking at are ‘generally’ – <$150K, returning 10%+.

    Regards,

    Shane

  • shanebal replied to the topic Ways to get away with your offers when … in the forum General Property 21 years, 1 month ago

    Well if they haven’t signed the contract then nothing has been accepted. You can walk away and so can they.

    But at some point in time you will have to sign a contract to purchase the property, with conditions or without.

    If I were a vendor in this market I wouldn’t accept such a clause because I know that there would be another offer just around…[Read more]

  • shanebal replied to the topic Buy Hold Never Sell in the forum General Property 21 years, 1 month ago

    People,

    We have to very careful with CG tax, it can sneak up on you in a variety of ways. A couple of examples:

    1. If you own a house for 10 years and live in it for the first 5 and then rent it out for the second 5 you are subject to CG tax for the second 5 (there are some ways around this if you still declare this your primary residence if…[Read more]

  • shanebal replied to the topic QS – Depreciation is it worth doing? in the forum General Property 21 years, 1 month ago

    QS = Quantity Surveyor

    Shane

  • shanebal replied to the topic Ways to get away with your offers when … in the forum General Property 21 years, 1 month ago

    Hang on a sec!

    If milen007 puts a clause in the contract that gives him 7 days to change his mind and the vendor accepts there is absolutely nothing dishonest about it whatsoever.

    However…I would be surprised if many vendors did accept such a clause particularly given the current market conditions.

    Regards,

    Shane

  • shanebal replied to the topic Gun QLD Accountant Required in the forum General Property 21 years, 1 month ago

    Hi Richard,

    I’m not but will be. Based in Sydney until the new year.

    Shane

  • shanebal replied to the topic P&I or IO Loans? in the forum General Property 21 years, 1 month ago

    Despite his European sounding name (dutch?), Dolf is an NZ’er. Although he spends much of his time in the States.

    He runs a nice little property investment vehicle out of Christchurch in NZ that I have shares in. Here is the link:

    http://www.propertyventures.co.nz

    Has some lovely props including a vineyard!

    Regards,

    Shane

  • shanebal replied to the topic Vacancy rate in the forum No Subject 21 years, 1 month ago

    There are two ways of looking at vacancy rates.

    1. When I consider a property I always factor in a vacancy rate as a safety margin, no matter how good the property and how much demand there is for rentals. I use 5% of the gross revenue(rent).

    2. The other consideration of vacancy rates is the current level of empty rental accomodation in the…[Read more]

  • shanebal replied to the topic Development from scratch in the forum Hotch Potch 21 years, 2 months ago

    Thanks Bribie.

    It is one block of land of 10 acres which I am planning to subdivide into 1/2 acre lots. It is in the cooloola shire.

    I have talked to the council and to their old town planner who has since retired.

    I have some information but I guess I really want to get some info from the horse’s mouth to avoid any pitfalls.

    Shane

  • shanebal replied to the topic Critique The Plan & Help in the forum The Treasure Chest 21 years, 2 months ago

    Howdy,

    Interested in doing a similar thing in QLD.

    Have 2 blocks and would like to chat to someone who has done this up in the Gympie/Sunshine Coast area.

    Regards,

    Shane

shanebal

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