its takes me 10 seconds to think, what i gotta do, about 30 seconds to find a caculator and then another 15 seconds to punch the numbers in and then another 4 seconds to get an answer.
that took 59 seconds…
…. oh wait… no wonder im still in school [?]
If the property is going to be positivly geared and the property is going to provided +ve cashflow, it would be best then, who has the smaller income to try to claim, as much back as possilbe on their tax return, so that more returns can be gained.
Though, best to find out, how long, your dad and you want to keep the property, and if…[Read more]
This will be on the contract form, but its nothing to worry about, ask your dad, what he wants to do with it future wise, he might want the whole property in your name and just the loans take out in both your names, if this is the case, you control the asset, but also get tax benefits, were as your dad will still get tax benefits, but…[Read more]
Though when taking out the loan, it will be the same as taking the loan out as an individual, though first check up and see what you want to do.
reason being is you can have the property in just your name, if your dad, wishes the contract to be like that, but have the loan taken out against both of you.
If you are deciding to do a Co-ownership with your dad, there are 2 typs of ownership that can be taken out on the property.
Joint tenancy and tenancy in common.
With Joint tenancy which is more favoured by people, the reason being is, if one of the persons on ownership of the property die and there is a Will already in place, the…[Read more]
Putting up the details of an accountant i deal with was fine, but being reminded by peers, that helping people and contributing a plentiful of tips and information, what do i get back, when people still want to debate, even when facts are put up there for them to see, yet still debate it.
still i feel, that i should not have been questioned or asked about, giving details of one accountant i have dealt with, is still unfair, when simply, people can do their own research and not relie on someone else, who has gone out and found such people.
I havent gone quite, i was PM, yesterday by a quite a few forum members, and was told, that it was best, that i ignore, this thread as it was getting out of control.
Since, then i have been wanting to post more to this thread, but instead, and listening to other peers, im just with holding myself from posting but reading the new post…[Read more]
Very much agree with Westan, just having to know what the weekly bank repayment will be (either being P/I or I/O) and adding $40 a week, will give you a quick estimation of the running and keeping cost for that particular property.
Originally posted by kay henry:
sis, how do you afford the upfront money to go and visit 13 properties all over Australia in one year?
Ive only been on 2 holidays, for about 3 – 5 days each, but were the properties are situated, they are only driving distance, from my brisbane residence, so really its just been 2 plane tickets with…[Read more]