Your serve Dacium!

The views expressed thus far seem to cover the spectrum, except to add that perhaps some new cars are really a very good option in certain circumstances: eg, In the range of $17500 to $28000 (which will cover 1.6 litre Hyundai to 4 litre Falcon/Commodore, all ex gst) , should you have self employment status and significant taxation bracket, you…[Read more]

Hi Parraboy,

Looks like your choice of an IP in darwin has done well, almost doubled in 7 years. Is Durack out near palmerston? I was born and bred in Darwin, and as growing up there always remembered it as being expensive for rentals. I dont think Durack was even established when i left in 1985, but i still frequently vist my daughter and family…[Read more]

Hi Amanda,

Correct me if i am wrong, i though that i read somewhere that the smoke detectors had to be checked annually, by someone that was qualified to do so.

If that is the case, what makes someone qualified, and i imagine that it would only add to the cost of ownig an investment property, if you were not able to complete the task yourself as…[Read more]

Hi Cruisader

Let me say firstly, i have never done a development project and am certaintly not the full bottle on the pros and cons.

When i bought my current PPOR which is on a corner block with ocean views from all rooms of my home, it had approval for a second storey extension. My home faces to the ocean, which is great, but there is a vacant…[Read more]

Originally posted by dacium:
Don’t be fooled by all these people claiming ‘no right or wrong answer’ or some such rubbish.

The right answer is always the LOWEST interest right with low escape fees. The best right now is clearly http://www.ratebusters.com.au. The variable rate is just 6.92%. on a $300k loan that is $50 PER WEEK cheaper than ANZ and other…[Read more]

Hi Guys

A lot of very interesting views!! We have been a 1 car family over the last ten years, driving a reasonable bomb, and have only just recently bought 2 new cars within the last 12 months. I suppose i should have asked this question before the horse had actually bolted!! It is only since my introduction to this forum in the last few months,…[Read more]

My apologies Terry, not Richard!!

Wayne

Hi rp2606

I am currently holding block of land which i am waiting release of titles, i have onsold this block prior to my settlement. I had to pay the stamp duty before the end of first 12 months, and both contracts will settle immediately after one another.

As Richard had mentioned, you have to own it first, before you can sell, hence the need…[Read more]

Thanks Richard

Do you deal with WA clients? Also i have a current LOC (200k) on my PPOR, do lenders see this as a debt, even if there is no draw down on the LOC, am i better off closing this LOC loan?

Wayne

“What is the lap record, and which way do i go?”

Hi Terry,

I would have thought your accountant would know this stuff.
Exactly, the very thought that he could not tell me straight of the bat has got me now a little worried, i have just changed thid year from an accountant that i had been using over the last 10 years.

Just checking the thoughts of some of you property gurus, should the…[Read more]

Hi Guys

A very interesting thread for myself, as we type i have my Finacial records in with the accountant, and find myself in this exact position.

The information on this thread and previous threads on this subject alerted myself that i may not have to pay CGT on one of my propertries, resulting in a saving of $30,000. I asked my accountant,…[Read more]

Hi jag36

I run my investment properties on Posh software, it can be found in the back pages of the API magazine. It can produce a variety of reports, which will make your time at the end of the year less stressful. If you enter the data as it is accrued, it does not take up to much of your time.

I also have a simple but effective spreadsheet…[Read more]

Hi Ryan,

I am currently a sales rep in WA. Do know what state your purchase is in, but in WA, a buyer has the right to withdraw their offer anytime up to the vendor accepting the offer. If the vendor has not signed or counter offered, i belive you have every right to withdraw your offer and not putting your deposit at risk.

Regards

Wayne

“What…[Read more]

Hi Nikikb

Like all the other guys have said, dont sell. I am a Darwinian, born and bred, and from what i remember the rents being, you would most likely get a far better rent return on your current property, than if you were to sell and buy another IP elsewhere.

Go the Buffalos!!

Wayne

“What is the lap record, and which way do i go?”

Hi Paul

Totally agree with Terry and Richard, why hang on to an asset that is costing you money and doesnt allow deductions.

What are the advantages of buying vacant land only over a house and has anyone done this in the past and would recommend it as an option?? Any thoughts would be greatly appreciated.

Saying that i currently am holding 2…[Read more]

Congratulations!

Hope all goes well on the day!

Regards

Wayne

“What is the lap record, and which way do i go?”

Thanks Luke

Yes it is brand new, it is on the Gold Coast on the canals, 4 kms from Surfers Paradise with views over the city. It also came fully furnished, the family and i spent 4 weeks in it last August when we went over to take possession of the property.

I have been investing in property over the last ten years, and done very well, to the…[Read more]

Thanks Scott,

I will be in contact.

Wayne

“Whats the lap record, and which way do i go?”

Self Managed Super Fund

Wayne

“What is the lap record, and which way do i go?”