you havent added depreciation to your income, i know that its only an added bonus, but depending on how old the IP is, it will make your numbers look better.
hope this helps
shaun

Lead, Follow or get out of the bloody way

like you guys, i too am getting letters and phone calls asking me to sell at stupid prices. one IP is in darwin and the other in Queanbeyan (ACT border), but at the same time everything has a price. i would get them to prove they have a buyer and ask to see paperwork.. the REA that are ringing me, when i ask for this, soon shut up and leave me…[Read more]

i agree, never use a company to buy property, you fail to utilise the 50% CGT deduction.. the way around it is to have a trust fund, with the company at arms length as director.
hope this helps
shaun

Lead, Follow or get out of the bloody way

i’m in canberra, and the market has slowed down alot.. people are still refusing to lower prices or even look at the offer, and some of these have been on the market 6 – 8 months. it doesnt help that rents havent increased yet here, so i am waiting and biding my time.. as westan say’s, timing is everything. at present i am getting ready to…[Read more]

i would recommend a investment seminar, i learnt more about myself and money in 3 days than any book. dont get me wrong, the next thing i did was go out and read everything i could. got onto this forum via steves book and now have some great friends, who help me along the way (melbear in particular). it was here i found a mentor, and people who…[Read more]

i’d be going for a neutrally geared property. fairly easy to find (not as easy as neg though) but once found can wipe out your personal tax.
enjoy
shaun

Lead, Follow or get out of the bloody way

i agree with mel, get on their backs. have everything in writting.. so that should it have to go to a tribunal you have the paperwork to back up your claim.
shaun

Lead, Follow or get out of the bloody way

i was looking into this a while ago and didnt get very far. i did find out that if you go to the council chambers, they will have a department there that can help you with the information you need.
sorry its not much help
shaun

Lead, Follow or get out of the bloody way

that bloody rabbit business, [8]
if anyone needs to know about setting up companies and business plans and projected cashflow and primary producers tax i’m the one to see. that and trying to understand what the accountant is telling me versus what the solicitor is telling me. thank god for mel,, she has been a wealth of information (as…[Read more]

a couple of others that have happened to me that the body corp paid for,
toilet blocked, caused by main sewarage outside.
leaking roof to top unit cracked ceiling.
electricity cable burnt out in unit caused by fuse box
and,
washing machine flooded, the drain pipe from top unit leaked into bottom unit. the body corp paid for all repairs.

Lead,…[Read more]

melbear is baby sitting her sisters dog..
so i dont think she has time to access the internet.
mel and i are going into business and ive sent her about 10 emails with no reply!
MEL… MEL.. reply to your emails please? i need your advice!
cheers
shaun

Lead, Follow or get out of the bloody way

another one you might want to start with is, how much money do you have access to? this will determine where and what you buy
enjoy
shaun

Lead, Follow or get out of the bloody way

Welcome back bill, though you didnt tell us you were coming back!! the virus thing, that would explain why my computer has been acting funny, thank goodnes for firewalls.
good to have you back bill…
shaun

Lead, Follow or get out of the bloody way

i think there are so many variables it hard to know.
Melbear and myself have been looking outside the square and invested in other business opportunities hopefully giving us some great cashflow. 12 months from now we will be buying property again. at the moment i am using the sit and watch approach when it comes to property. this doesnt mean i’m…[Read more]

try this mob.
http://www.rentcover.com.au/interimapply.html
i use them, and any time i have a question i just ring them up. they are more than happy to answer any questions over the phone
enjoy
shaun

Lead, Follow or get out of the bloody way

i bought an IP off the vendor who had the property as an investment, and was originally told i could use that QS report. My accountant however told me to get an independant one done, due to some law or other.
hope this helps
shaun

Lead, Follow or get out of the bloody way

perhaps i wasnt clear enough, myself and the two others who have given verbal approval are on the comittee, so theres no probs there.
i quess i was just wondering what to do next?
get a builder in to draw up the plans and get a quote,
get approval from body corp, then send it off to the council,,,, is that right?
thanks mel, i was going to ask you…[Read more]

i like the bill,
though i was on holidays for 3 months and got hooked on the hoobies there for a while []

Lead, Follow or get out of the bloody way

I once read somewhere that the definition of wealth is,
if you were to quit work today, and didnt have to change your lifestyle… how long would you survive?
for me its about 3 months..
so when i get to 10 years or so, that will be enough

shaun

Lead, Follow or get out of the bloody way

Wish i’d thought of asking 25 dollars for further information, I had my RE agent in darwin ring me asking if i wanted another IP in the same block i already own in. was asking people i know personally if they wanted it.
perhaps i should put it up for a spotters fee? []

Lead, Follow or get out of the bloody way