superAndrew replied to the topic Tenants in common and co-owner can't be contacted. in the forum Legal & Accounting 8 years, 10 months ago
@terryw would a claim for Adverse Possession be possible in this situation? The full rates have been paid by the owner claiming adverse possession. The deregistered company has never paid any of the rates or has had any involvement with the property.
superAndrew replied to the topic Tenants in common and co-owner can't be contacted. in the forum Legal & Accounting 8 years, 10 months ago
@terryw would a claim for Adverse Possession be possible in this situation? The full rates have been paid by the owner claiming adverse possession. The deregistered company has never paid any of the rates.
superAndrew replied to the topic Tenants in common and co-owner can't be contacted. in the forum Legal & Accounting 8 years, 10 months ago
@terryw would a claim for Adverse Possession be possible in this situation. The full rates have been paid by the owner claiming adverse possession. The deregistered company has never paid any of the rates.
superAndrew replied to the topic Tenants in common and co-owner can't be contacted. in the forum Legal & Accounting 8 years, 10 months ago
Thanks @terryw. I should have also mentioned that the owner is a private company that was deregistered in 1995.
Can they be sued for all the fees and taxes already paid?
superAndrew started the topic Tenants in common and co-owner can't be contacted. in the forum Legal & Accounting 8 years, 10 months ago
50/50 ownership split on qld property. Co-owner cannot be contacted and hasn’t been paying land tax/fees for over 2 decades. Anyone come across this before? What are the options in this situation?
Cheers
AndrewsuperAndrew replied to the topic Start of our journey in the forum Help Needed! 9 years, 5 months ago
Hi TFE
Why not keep the current unit and keep drawing on the equity to purchase more IPs?
And once you move into the new unit move all the funds from the offset account of the current unit to the offset account of the new unit (since it will be your PPOR). No need to pay down the mortgage of the new PPOR. This way you will always have access to…[Read more]
superAndrew replied to the topic Property Management Services in the forum General Property 9 years, 5 months ago
lol
superAndrew replied to the topic How to protect current assets when not set up in a trust structure? in the forum Help Needed! 9 years, 5 months ago
For 1x PPR and 1x IP a Trust/Company is overkill. As you get more properties you can consider a trust for tax reasons as Corey mentioned.
It also depends on your profession and whether there is a high chance for you to get sued.
Andrew
superAndrew replied to the topic Property Investing mentor to speed things up in the forum Help Needed! 9 years, 5 months ago
Yeah maybe this is not the best advice on here… why don’t you let a car sales man fix your car at the same time?
The only person you can trust in any business transaction is yourself and someone who makes money if you make money (that is someone who gets a cut from your profit after you have been paid).
You said that you are new to property…[Read more]
superAndrew replied to the topic Investors renting PROS an CONS in the forum Help Needed! 9 years, 5 months ago
Other than the financial benefits, another issue to keep in mind would be CGT.
If it is your PPOR then you are CGT exempt. However, if you rent it out then you will have to pay CGT when/if you do sell it.
Andrew
superAndrew replied to the topic 24 year old first property in the forum General Property 9 years, 7 months ago
Sometimes saying no to a potentially awesome deal is better than saying yes to a potentially bad deal.
Cheers
AndrewsuperAndrew replied to the topic Helping a child buy their first property in the forum Legal & Accounting 9 years, 7 months ago
If your son is working full time couldn’t he just take out the loan himself and have you as guarantors?
Cheers
AndrewsuperAndrew replied to the topic Age 23 First time buyer/investor in the forum General Property 9 years, 8 months ago
Depending on your budget and location but generally:
1. House
2. Townhouse
3. UnitCheers
AndrewsuperAndrew replied to the topic Getting IP financing for a newcomer to Australia in the forum Finance 9 years, 8 months ago
Are you still working in Russia and when are you moving to Australia?
You could have purchased the property before coming to Australia and could have easily obtained a loan at 80%. You just need to show proof of your Russian salary.
Turns out all Chinese buyers buy without any mortgage in Australia! WOW!
I have many Asian friends, I helped…[Read more]
superAndrew replied to the topic Property under contract. Help me please to calculate ROI in the forum Help Needed! 9 years, 8 months ago
Do all the owners need to agree not to renew the contract? I guess you would need to read the contract in detail.
Given the current yield of the property I don’t see it that unlikely that they wouldn’t vote to renew it.
Cheers
AndrewsuperAndrew replied to the topic Property under contract. Help me please to calculate ROI in the forum Help Needed! 9 years, 8 months ago
Sorry I didn’t get the contract part.
Investors have difficulty estimating the value of a property today but you want to estimate it 7 years into the future. Any answer you come up with will be heavily reliant on your assumptions.
If your strategy is to buy this property with the contract at a discounted price and then sell it when the contract…[Read more]
superAndrew replied to the topic Property under contract. Help me please to calculate ROI in the forum Help Needed! 9 years, 8 months ago
So you are asking what the price could be in 2022 with 0% capital gain? The answer is the same as today.
Regarding ROI: The property is running a loss of $3070 p.a. and assuming 0% capital growth, the ROI will be -ve.
This is a negatively geared property and you would solely rely on capital growth for returns.
Cheers
AndrewsuperAndrew replied to the topic how to borrow more / unlimted finance in the forum Finance 9 years, 8 months ago
Net Yield + Capital Growth = Return. Both are important but not equally probable.
You could get a 10% return in either of the following scenarios:
1. Yield: 5% and Cap: 5%
2. Yield: 6% and Cap: 4%
3. Yield: 4% and Cap: 6%
4. Yield: 8% and Cap: 2%
5. Yield: 2% and Cap: 8%
6. Yield: 10% and Cap: 0%
7. Yield: 0% and Cap: 10%One thing we know for…[Read more]
superAndrew replied to the topic How to handle Ongoing Cost on IP? in the forum General Property 9 years, 8 months ago
Lets say Property value is $180,000 and Deposit you have is $18,000… You still come up with all the savings for Establishment cost such as Stampt duty, Pest and Building Inspec, Real Estate Agent fees, Conveyancing and Borrowing cost.
Why are you paying RE fees?
Given the above example how can you tackle on going cost????????
What do you m…[Read more]
superAndrew replied to the topic How to handle Ongoing Cost on IP? in the forum General Property 9 years, 8 months ago
@mushirkhan have a look at https://property-analyser.com.au.
It does all the calcs and shows you all the cash flows. You can vary between Interest Only and Principal and Interest and see how it affects your cash flow. It also take into account your tax rate given your income level.
Cheers
Andrew- Load More