Forum Replies Created
Guys, thanks for your replies.
I've been busy with other things and have not done anything further.
Thanks again
SwanyHi Vstar…..appreciate your reply. Will do as suggested.
Have a great week end.
Swany
Hi and thanks for the tips.
Scott No Mates, I was wondering how to avoid brush marks. Not knowing much about spraying….can a airless spray gun handle the expoxy based paint? i wouldn't mind having a go myself.
Cheers
Swany
Hi Craig,
Since my post I have had my head buried in Michael Yardney's "How to grow a Multi – Million Dollar Property Portfolio" book. A good read which has made me think a capital city might be a better location. So the short answer is,….no,,,, not yet.
Is this your first project?
Cheers
Hi Tammy,
Thanks for the reply. I'll check them out. Have you built duplexes before?
Cheers
Hi Claire,
Do you mean the RESULTS mentoring programme?Cheers
Hmmm….if I was you,…. I would sell the accountant and then get a new one!
CheersSwany
Thanks Alistair,
I plan keep the loan as P & I and not use it for any personal use from the date I rent it out as an IP permanently. If any redraws are made in future they will be for more IP's only.
As a matter on interest does the depreciation on fixtures/ fittings, appliances etc apply from the date I commence leasing the property or taken from the date of purchase?
Cheers
Swany
Thanks again Ian….you confirmed my thoughts which are also connected to my gut feel indicator.
Cheers
Swany
Hi Ian,
No redraw fees….all my income goes direct into the loan and at the end of the month withdraw to cover credit card living expences.Cheers
I thinkk what goes around comes around.
For me It wouldn't matter whether it's a big develpeper or a mum and dad investor so I would struggle sleeping. The fact you posted your situation tells me you know what the right thing to do is…….
Best wishes with what ever you decide to do,
Swany
Thanks again Ian…..I appreciate your help.
Regards
Swany
Hi Ian,
Thanks for the reply.I thought it would be alot easier to reconcile inflows/outflows against each property if there was a seperate account for each.
With multiple properties I expect there would be different insurance amounts, repair costs, etc going out whilst varying amounts coming in.Thus a pain to reconcile. I also thought it would be easier to keep a CGT regester against each property.
How tedious is the book keeping for you and what do you think about using different loan providers. Richard makes the point of better term negtionation on loans.
Regards
Swany
Richard…thanks for the info.
Contact the Finacial Planning Association in your state for a list.
Try your Super fund first to double check exactly what you have.The cover in the super fund will be underwritten by an insurance company. They could be you first option as they should understand your existing cover and what extra you may need.
Some financial planners also sell insurance and msut take into consideration your circumstances including existing cover before a recommendation.
Always get the advice in writing.
Hi mixedup,
Income protection insurance is designed to replace 75% of your income in the event of an accident or illness. BUT it is not that simple and you should get advice.
What is the actual income they will cover? ie earned income before tax less expences?
The waitng period would mean you need to cover your expences for 14 days and then your benefits commence, but are not back dated to the start of your accident/illness.
The amount of benefit you get may be offset against workers comp or investment income.
How will you cover your expences if your illness is longer than 2 years?
You may think your total & permanent benefit lump sum within your Super will kick in. This will depend on the definition of disablement in the Super policy and is likely a VERY hard definition to meet especially if you are a young person.
Other things to check are, the definition of disablement for sickness and accident cover and are there any pastime exclusion ie scuba diving and so on.
Are there any health exclusions?
The list goes on and I tried to cover the main ones for you. Get advice, do some research and compare.
Cheers
Swany
Guys….thanks for the reply.
Swany
Scott No Mates,
Thanx for the advice. If anyone has any names to offer in the North Shore area I would be grateful.
Cheers Marc……
