Forum Replies Created
Hi Prop16,
no income as yet, is equal to a loss, infact at this current moment you would call that property a negative geared one.
i suggest get a new accountant. where abouts are you from Prop16, i maybe able to assit you in finding an excellent account, who mainly deals in the accounting side of properties investments.
cheers
S.I.SHi Prop16, any losses that are made can be carried over to your tax return. The loss is rolled forward and your taxable threshold will decrease. You will be taxed at a new income at a new threshold because of your loss has been carried forward.
Ok i hope that made sense.
Think of a loss as a negative geared property were, your taxable income has been reduce, and is now going to be taxed at a new income taxable threshold.
cheers
S.I.S
quote:
I also have Somers PIA software (just the personal version, think it was around the $200-$250 mark) and it does plenty for the average investor and I keep finding additonal things it does so am learning all the time.to access the professional version of Somers PIA software, just download the crack so you can have access to the full version.
though i still prefer Destiny Solutions, best software out there i believe.
cheers
S.I.S
Hi guys,
im buying next month actually, i have settlement for 2 properties tomorrow. Though many of you may have your reason not to buy, but i believe if you can still find a passive income property even at these high interest rates, then there should be no reason, to miss out on a great opportunity.
Though im not looking for any -ve geared properites at the moment, if i find a Hot Property, i will take the chances on it. (though this has to be a really hot property).
cheers
S.I.S
castle dreamer….lol, you’ve given me ideas now…. we also have the baby pics on the wall too
Recently i mentioned a property i had under contract anyway it was a 3 bedroom house similar to the one you found at $43,000 the weekly rental was $120 a week. Due to my pest report, the contract was terminated, though the property was in a increasing population area with growth. 5 blocks away from the town central and was a perfect investment, but it failed my pest report.
Though about 200 km away from this town, the real estate agent i had been talkin too and dealing with told me about a brand new brick home, small one though that went for $13,000 with a weekly rental of $100 a week. Though this house may sound like the perfect investment it was in an area were the population was less than 300 and declining and there was not much work available either.
But i do know you can purchase property in Queenstown (Tasmania) for that price and lots more less, though it has the same problems as the story above mentioned.
Cheers
S.I.SKeep away from that area, bad area, may have +ve cashflow, like Anubis said a town gone bad. Also keep away from other such towns as Queenstown and Roseberry. The population is these towns are even worst and less.
cheers
S.I.S
were can i meet woman like this? i mean how wild are we talkin…..
Hey CornelBasson,
how ya doing man? anyway you still keep in touch with Michael and Vlad?
Cheers
jeffHi pritts88, this is not a bias opinion but im just share some info of some areas to stay away from, though maybe in the late late future these places will have appreciated in growth but i doubt.
Places i suggest you stay away from.
Weena
Roseberry
Queenstownthese places are +ve cashflow but there almost abanden mining towns, with little population or a dying town and are industry reliant
Hope this help, though it justs so you dont get tricked or caught out in buyin a bad investment.
cheers
S.I.S
Hi pritts88, this is not a bias opinion but im just share some info of some areas to stay away from, though maybe in the late late future these places will have appreciated in growth but i doubt.
Places i suggest you stay away from.
Weena
Roseberry
Queenstownthese places are +ve cashflow but there almost abanden mining towns, with little population or a dying town and are industry reliant
Hope this help, though it justs so you dont get tricked or caught out in buyin a bad investment.
Thanks everyone for their responese.
Hi Tim, i check out the website you mentioned and i spoke to a lady who is a director of the company, everything is fine, but the duration or the course seems to have alot of conflict with the time i work and i very much doubt that i would have any chance in takin more time off my work, (long story short i had to take a week off work to do some things and then i told work i need another week off… they were too happy but $hit happens) Anyway i am really interested in being a mortgage broker and i aint really in it for the money, but for to help other people reach financial freedom too.
Though i have found a course in mortgage lending.(certificate 3 and 3 other short courses that must be done.) And this work well cause they are night time study, though i have found it that many insitutes that teach mortgage lending or consultation are either making the course harder or they are just not teaching as they can not get the number of students up. I did a mortgage lending examination today and past one of the short courses on my second attempt. (1st time scored 23 out of 30 and 2nd attempt 30 out of 30.)
Thanks very much for the info, but im surprise at home many set backs or milestones you have to get around just to become a mortgage broker, seems like a lot of work needed. Anyway i like a challenge and what i do learn im happy to share if anyone else is doing or is going to attemp in doing mortgage lending courses too.
cheers and thanks
S.I.S
are we talking cash or credit? cause i got plastic
Thanks everyone for the replies, thanks steven for the website. Actually i just enrolled into the course and the first subject of the course that i will do is the privacy act. Anyway if anyone else who has done this course could you please tell me how you went, did you find the course to be hard or easy and would you recommend its worth while.
cheers
S.I.S
im also going with you powmow, but im still thinking, interest rates with some banks or other lenders will be just over the 10% mark. But also a gut feeling is tellin me if banks are now giving 7% and much higher fixed interest rates, they must be, or in preparation for what could be higher interest rates that are soon to come about in our near future.
In reference about the interest rates i found it on this forum. with some links to some sites.
thanks Mel, ill let you know what happens.
good luck to you man!
Good thing is… at least you dont have to lay by!
though one thing is, you got alot of equity there in your house, honestly man, you should start investing.
Who knows man, you might be able to retire by the age of 18, if you start investing now….
good luck man
still in school
quote:
Actually, just went through the 50,000 book sales mark.
dam…. no wonder its so hard to find +ve cashflow properties [
][][]Hi Jake_Heinemann,
im not much older than you, but i can try to give you the best advice i can give, talk to an account, im not quite sure how it works but i know you can buy a house in a trust if you are under the age of 18, but im pretty sure you need to have someone as your power of attorney to do this for you. The other option i can suggest is. Your money that you have inherited make sure its earning a high interest or some what means, but in the mean time, just keep doing your study and save your money, if you can prove to the bank that you have a regurlar income and good savings pattern by the time you hit 18. You be laughing cause for these days its much harder not just for any age but for everyone in getting there first place. Mostly likly then you be so ready to get a place or have one sooner that you think, that your friends will still be strugling to pay a layby. No joke but im serious.
goodluck in your goals but dont let anyone tell you, that you cant do it. Thats what happened to me.
good luck!
still in school
thanks guys for the response, so far no luck with being able to search for courses, but what i dont understand, maybe a mortgage broker can fill in this gap for me. Some websites are saying that you dont need any formal qualifications, but a license, while others are saying you have to do a certificate 4 before you can acquire a license. And to be a complete mortgage broker you need an advance diploma,
could anyone fill in the correct answer, cause im gettin numerous results on google search engine. And im not sure what to look for?
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