Forum Replies Created
umm I must not be searching when beer in my hands
thanks Jamie.Me Me Me!
thanks,
AmitTerryw wrote:If you pay PI you are tying up your cash in an investment property. If you later want to use the cash you will be stuck. eg your loan is $100,000 and you pay it down to $90,000. Later you want to buy a $10,000 personal item. You need to reborrow the money but the interest on the $10,000 won't be deductible. If you had used a $100,000 loan with a 100% offset account you would have only paid interest on $90,000 while the $10,000 was in the offset. When it is removed your interest is on the full $100,000 and it is still fully deductible. This will essentially allow you to claim the interest on the $10,000 for the personal item as a tax deduction.Do you mean that if it is PI + IO the offset account would be considered as already paid?
Thank you Richard, much appreciated.
You probably would like to review the calc. formula that whoever have given to you 300/2 x 1000 = 150,000
You will never get such property; oh well if you are lucky then probably you wil have to fight one for it. The way you are thinking, I believe, many think in this way too.
Some rental properties in City, Sydney, pays 900-1000$ a week rent that added to 4000 that covers almost good amount for morgage of around 500-600 K.
Later, in long term, you will eventually make it to positive.Be_Rich_By_2012 wrote:Hey fword, sorry your right, Im earning $270 a month at 6.51% How is an offset advantagous? Is it because I am saving on 7.16% (which the homeloan is set to) instead of 6.51%?Yes it will be saving on loan %.
That is what the benefit through offset account. However, you might have to pay for this service, yearly. I pay 300$ a year However, it includes credit card fee (yearly) too.
Althought I am quite new to the property world but I will put some words to extend my knowledge indeed.
I will not compare everything with US because we don't run in the same way as they do. The way our eco. works does not matches with them at all. We don't have 10-15 % unemployment problems; the $$ incomes are not same as Australian gets paid. We don't get credit from the banks if I cannot show enough evidence that I can pay them back. But in US you can.
I am not from the finance background but I've been analysing these things since 2006 and found that one can go to property only to make million; but only if we can hold the investment for the long time.
If at all the bust is going to happen, we will see the following actions from govt.
* more immigration
* more demand for houses – rental increase; bank will lend you more because of good rental income (I doubt if 80% rule will still apply?)
* easy investment rules for foreigners.I think the whole cycle for individual would depends on the following:
* Rental income and property to be in best place to rent quicker.
* Saved funds for bad days
* Full time job?!Property is same as any other investement like gold , share .. that float around in variations. In 2008 RIO shares were 17-28 $ (down from 110 $) and now it is back to 80-90$ .
I would not say RIO was over valued at 110$ because as I see that during that the demand was high for RIO so the shares were too. Same is with property, if it goes down today by 10% , it will go up by 15% soon; Again the same rule; long term investement will not let you down in property investment.
Love this forum and aggresive thoughts that one may make you think twice.
Very touchy and indeed gives a way through to fight for bad times.
I also believe in pay less and no to -ve gearing; there is no point to pay 100$ and get 30$ back from the -ve gearing; of course, in the limit is fine but I will not be getting IP just for -ve gearing if I cannot pay 80% of morgage from rental.
Jamie Hi,
It is managed through Property Management. They'd also approached me with REST or Real that I don't remember but I did not took their thoughts as I want to find my own stats who is best when actually I claim.
I've my personal insurances with ING and also I used to have car insurance with them. But I'd never claimed with them. However, their prices are quite good.
Still wondering, anyone really claimed and got professional service from insurance company then?Also, do you see any benefit if I buy insurance through Property Management; I doubt if they help to claim?
Or it is overall my responsibility; if I get crook tenant?At present I am living in Studio so I've not taken any insurance as I can see quickly if someone make noise. However, I am planning to move out soon.
Hello Angelina,
Thank you for that.
I've dual key apartment and have been going through around with different insurance company. They are asking to take it separately, as one for studio + one for 1 bedroom. So overall I need two insurances.
I just need to know someone who is really good at not only taking money for insurance policy but also giving the claim back. Then I thought to put my need here and wonder if anyone have good experience with specific company. Based on these replies I can make a judgment on where to go.
The problem with selecting the right one is that I will get to know only when I will claim.
People are claiming about http://terrischeer.com.au/
Anyone?
Ta
quick question: we don't need this inspection if it is an strata apartment? of course in that case review of building/ strata report is important.
I'd rather prefer the city sydney if one can affort to pay 400k for 1 bed and you get back 450 pw.
if you have parking you can rent it separately for 40-50$500 * 4 = 2000$.
As someone above has just said that I dont think that going through broker is required if there is an easy application
– You are a PAYG
– You have liquidity
– You have enough other assets to increase the loan amount.thats it!
Although I will be interested to know how brokers can give the benefit in regards to giving commiission to borrower.
Then of course borrower has nothing to loose to go through borrower. But I am sure there is something hidden words in between.
Anyone?
luke86 wrote:I believe that the Strata decide on who operates the building management. What probably happened is that before they sold the apartments, the developer decided that they would grant the property management company exclusive rights to the managemnet of the building. They could do this as at that time they owned all of the units and so controlled the Strata.Once they sold all of the units, the individual owners share in control of the strata. However the develper has already given exclusive rights of building management to their management arm. So there is nothing you can do until the fixed term building management contract runs up.
Did you know this was the case when you bought the property?? And do you know how long the management company has the contract for?? I think this type of thing is common for new CBD apartment developments.
cheers,
LukeNow it is making some sense. Thank you Luke!
No I did not knew these as this is my first purchase and dream to have an apartment in the City.
I don't know how long they are / or they are going to be but it is a very good point to find this out.Dump question: where can I find this ? to whom I should approach?
JacM wrote:I'm confused… you are unhappy with living in a building that provides you with security against the undesirable types that roam around Sydney? Mate, these matters would definitely not be on my radar as "property management issues"Main issue , as an investor, is the Strata Management + Property Management (Realestate) by them. I really want it to bring this realestate out of the building, away from strata. But I'm concern with the politics and how they can bring things into difficulties.
My basic question is again:
How strata management can also do Realestate (property management)? How they can open the shop within the building.
Strata called STM and Property management called ACMP . That is the only difference and rest they are same. I am sure all bucks stop into one door; though they are different by name.
