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Still in School
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Join Date: 2003
Post Count: 1,844
January 7, 2004 - 1:38 am
Hi UraneHan,
If a mother or any person, has had an interest in property before, other than IP after July 2000. They are not elgible for the FHOG, in this case.
Though if the mother decides to purchase a property in joint ownership with her son, its conflicting interest, as she has had an interest in property before hand. In this case, the son would not be able to access the FHOG.
The best way to service and recieve the FHOG, is to purchase the property in the son name, and the mother can be the guarantor of the property, In this case, the son is eligible and is able to access the FHOG.
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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Post Count: 1,844
January 7, 2004 - 1:28 am
Hi Kay Henry,
if I was an existing property investor and I paid $15k for one of those property seminars, would I be able to claim?
With no problems, you are able and entitled to claim that. One thing though, you wouldnt want to lose a 15k receipt. []
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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January 7, 2004 - 1:03 am
Hi Kay Henry,
quote:
For all investors, pretend you have no CG and are starting out with a 20% deposit. What would you do in the property market now? What would you buy?
To be honest first thing is, out of that 20% deposit, i would buy last sundays newspaper. As it has areas of 2004 predicted for capital gain. They also predict, even with interest rate rising, it will not affect the market much or that property prices will go down.
I would invest that 20% cash deposit into a -ve geared property, just for the moment, in predicted CG areas, and then if the property produces some quick capital gain. I would then invest that equity into a +ve cashflow property at 105% finance.
In doing so, this would be using the Offset Gearing Principle, but its puttin you into a finanical position of Market Control, but also puts you in a position to be ready to purchase your next investment property.
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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Join Date: 2003
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January 6, 2004 - 7:27 am
Dont worry im still old SIS.
But dont just congratulate me. Mortgage Hunter, also deserves a Big Congratulations and Job Well Done!
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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@still-in-school
Join Date: 2003
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January 6, 2004 - 7:23 am
To all the team,
And Everyone on Property Investing Forum.
I just wanna say a
Big Thank You to everyoneBut i want to also Congratulate Mortgage Hunter Whos also Become Moderator As Well.
Cheers and Thanks to all.
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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January 6, 2004 - 7:16 am
Hi MarkyMark,
Melbear is right, but hence the word First Home Owners Grant.
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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January 6, 2004 - 7:11 am
Hey Melbear,
lol, i didnt cheat [], [] not me..
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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January 6, 2004 - 6:45 am
Hi Simon
Very Much agree with Melbear.
quote:
I wouldn’t buy anything that will appreciate in a company name as if you do sell, you will be subject to 30% tax – there is no CGT exemption for companies.
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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January 6, 2004 - 6:41 am
Hi Shirley,
This answer will put a smile on your face.
If someone lived in Sydney couldn’t afford to buy there so bought an IP elsewhere, is it possible to buy a PPOR in later years and still claim the FHOG?
Yes, you are still able to claim the FHOG, hence the words. First Home Owners Grant. Just a little loop hole… but very nice.
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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Join Date: 2003
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January 6, 2004 - 6:37 am
Hi MarkyMark,
One good thing about the FHOG, is if you have had no interest in property before July 2000, you are eligible for a FHOG, unless, if you have… your are not eligible at all,
But lets say you have purchased any number of IP after July 2000, yet not one ever being a PPOR, you are still qualifed for FHOG.
Just a little loop.
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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January 6, 2004 - 6:08 am
Hi MarkyMark,
Sorry mate, trusts are not eligible for the FHOG.
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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January 6, 2004 - 6:03 am
Hi Chan$,
Definetly will be coming to the next meeting for sure, have noticed exactly the same thing too, many good investments are just being snapped and taken so quick.
They are getting much harder to find, yet i wouldnt be too worried, your doing very well still. And i gotta admit, you have a healthy, but very well diverse property portfolio.
You definelty planted some good property seeds, and keeping your property portfolio, well diverse, you’ve definiety given yourself more opportunity and success, than doing one strategy, but using a combination of strategies (offset gearing) allowing and giving yourself a more, but unlimited amount of success.
Best of luck and your success with your achievements.
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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Join Date: 2003
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January 6, 2004 - 3:06 am
Hi Chan$,
How ya doing? havent heard from you in a while, maybe a bit late, but hoped you had a Merry Christmas and Happy New Year.
Like your style, very much like the Offset gearing principles, good to know at least someone else is doing these principles and creating diversity.
Good luck to you and your success.
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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January 6, 2004 - 1:27 am
Hi Markpatrick,
Problem with selling a property is, your encur to many fees and charges just to sell the property and then you are taxed on the profits made. Ideally this might be good if you need to liquidate and you need a quick cash injection, but redrawing equity from a property, avoids you from having to sell your property but also you dont pay tax on equity redrawn, which is a major advantage.
You can still invest that redrawn equity into new investments and capitalise on them, and still avoid selling them too at the same time.
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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Join Date: 2003
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January 6, 2004 - 1:19 am
oh no… not our wallabies! [][][]
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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January 5, 2004 - 12:00 pm
Hi Redwing,
lol, just been really lucky thats all, been keeping low and quite about this town, though very excited about it. Has all amenties there and commodities, yet still keeping it very low profile for the moment.
Just curious Redwing, do you work at nights? lots of your posts are at night and in the early mornings.
Well, i wish you best of luck, and fingers crossed for your new job, and hope it gives you further more and greater success.
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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Join Date: 2003
Post Count: 1,844
January 5, 2004 - 11:47 am
They tried to steal our weet-bixs too…[][][]
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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January 5, 2004 - 11:34 am
Hi Yack,
$250k property is alot of money to service, if the property is currently negative geared. It could be a very long time before its +ve geared too. In doing so you could limit yourself and miss out on many potential buys.
Its good to see that you have a strategy in mind, though i do feel you are limiting your self.
cheers.
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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January 5, 2004 - 11:20 am
Hi Kay Henry,
Did get 2 more, properties, so techniqually on 13, but settlement date is not due for another few more days.
Yet, ive changed strategy for the moment and have been helping family members and close family members get into the property investing market, by helping and providing as much finance and equity for them.
Yet overall, im happy with the people i helped, and what has been achieved so far.
At the moment just trying to plan ahead and create some more diversity, for what the future holds.
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Still in School
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January 5, 2004 - 11:10 am
Just becareful with tempation, unless you are able to caculate and mitigate the risk, by selling the property just before a flood, or due to someone elses poor due dilligence.
Though temptation is what can make or break a person.
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”