Gerry,

You’ll have

Body corporate fees
Sinking Fund Contribution (maybe)
Special Levy (maybe)
GST on Fees
GST on Sinking fund

Only the body corporate fees will be tax deductible. All other levies/sinking fund contributions are not.

As for structure, you will probably have something like
a. Body Corprate Manager
b. Committee (depending on the…[Read more]

Would like to understand what and where the $5billion of waste is??

James

Have you seen the section 32. Is the levy just for Body Corporate rates?

The previous BC notice will confirm who the managers are – ring them and speak to them re sinking fund.

Based on figures it is ~5% gross. Determine other outgoings ie council/water rates, rental commission would be 7% probably, insurances, maintenance, mortgage payments…[Read more]

Read it in early January 04.

Have previously purchased IP’s (2) and have purchased one more since (jan 04 – not as a result of the book though, nor is it +ve CF). Although now possibly considering.

James

There will be many. One that I don’t think many do is to speak to the Body Corporate Manager. Understand what works, maintenance, beautification are being looked at. More specifcally, the status of the sinking fund and possible upcoming one-off levies for that work.

Is car-park on title??

James

When you apply for credit, if there are different addresses or the spelling of your name is slightly different, they will assume a different person.

Unless the application for credit also includes a license number requirement, then if they have that on file, they may be able to trace different applications.

James

In Vic, I think it is 2% (recommended), but ultimately its all negotiable. It varies in each state.

James

Interest rate increases in early 90’s, was a result of of RBA trying to break inflation, which wasa constant in the Australian economy since the early 70’s. Today, inflation is still within RBA desired band. Income levels are higher and growth is still strong and unemployment low.

From an overall market perspective 20% is a little pessimistic I…[Read more]

So what is going to be the catalyst for the decline??

James

A large part of the early 90’s QLD property bust, was due to the significant capital gains fuelled by the frenzy of Japanese money in the 80’s.

I don’t think there is an artifical boost in the QLD market over the last few years. More like the same factors that have been present in all other areas in Australia.

James

Jack,
Fair enough.

I have recently, through a friend of mine, actually look at some of the DVD’s that the NII course had.

There is some fantastic information in there, a lot which re-inforces many of the things that I had some knowledge on and some things which might be more difficult in today’s climate to achieve.

On the whole though, I am…[Read more]

Majic,
If you do a search of Jenman in this forum, you will see much commentary on his approach to selling and various people’s personal experience.

This is one of many – https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=7199&sortfield=&sortorder=&SearchTerms=jenman%20agent&whichpage=1

James

Majic,
Whilst not knowing the specific properties you own, as a general principle, I would seek to retain the property with the greatest land component ie houses.

Over time, they will grow the greatest, in my opinion.

James

Dan,

Trusts
Very broadly, the trustee of the trust allocates income to its beneficiaries. The trust only pays tax if income is not distributed (this would be an uncommon scenario). No tax on the trust for income that is distributed to the benficiaries.

Once the income is distributed to the beneficiaries, it is then taxed at the relevant…[Read more]

Julian,
ABS population statistics – some are free on the web, others you need to purchase.

James

Ezy,
Check out the February/March edition of the Australian Property Investor Magazine, there is a great article on tenants in common, with the range of all the relevant issues that would stem from purchasing in this manner.

James

That was more directed to teabagted.

James

On population trends – Tasmania has the largest outlflow of population of all states.

Some of the previous industries (woodchipping is an example) have all gone. Would be wary.

James

Not 100% on the latest laws (should be though), but i am sure you need to give them a reason. ie occupying property as your residence, renovations etc

James

Being able to negotiate a price which might be $20k-30k, or whatever the figure is, below supposed reserve price, is nothing more than what happens every day in every market. Even in a boom period.

There is a difference between falling prices / slowing growth (still increasing mind you) and purchasing price below vendors asking price.

James