Forum Replies Created
Thanks Marc. Yes, I have subsequently had it confirmed that the development of four can be financed as residential not commercial. One box ticked at least!
Woodsman
Poch Poch,
In 2007, its my opinion that earning $20-30 or even more per week profit (ie cash flow positive) on a property is not as a general rule going to make you independently wealthy.
Long term capital gain is however, whether through value-add or buying in the right areas for long term capital appreciation.
Yes there will be exceptions to the rule but if you seek out individuals who have invested over many years (over many cycles), the strategies which have proven to be successful will be clearly evident.
Woodsman
There is a way to not pay capital gains – Don’t sell! [biggrin]
Borrow and leverage off the new asset value (if you circumstances allow of course!)
Woodsman
Have used I/O on all my IP’s, since transferring my PPOR as an IP in 2004. This has in some part allowed to me to build up additional funds to be used as deposits for my other purchases since.
Used in conjunction with an offset account, it allows you to build a buffer and/or build for other deposits whilst reducing your interest bill. Alternatively you can always pay down the principal amount on your I/O loan if circumstances require.
Woodsman
Robertson ended the interview by saying that he hopes he is not alive to see this.Well then…..RIP Julian
Woodsman
Further to Rob’s comments, the yearly subscription to credit alert through Baycorp is invaluable as they e-mail whenever any organisation places an enquiry on your file. They also send you a copy of your credit file at the start and end of the one year subscription. Costs $40.
For investors, protecting their credit history is vital. This is a good way of guarding it (aside from paying all debts when they become due of course!)
Woodsman
Great cash flow opportunities. PM me for more informationAll comments have been fair enough, however, I wonder if this change in policy by the banks has contributed just as much to the drop off in values to apartment prices
Lenders began reducing the LVR on apartments back in 2003 and look what has happened since thenChicken or the egg?
Woodsman
Great cash flow opportunities. PM me for more informationJason,
How many square metres (internal)? Double or single garage? How many levels? How many townhouses in the complex? Quality of internal specifications?
Woodsman
Great cash flow opportunities. PM me for more informationTry these….
Land Tax in Vic:
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=16798https://www.propertyinvesting.com/forum/topic/16260.html
https://www.propertyinvesting.com/forum/topic/15615.html
Do a search under hybrid trusts ot discretionary trusts and you will be entertained for hours![biggrin]
Woodsman
Great cash flow opportunities. PM me for more informationHowever, could someone explain what is unimproved value of land.If the land on the property in question was only that ie no buildings, no sewerage connection etc, it is simply the fair value (as determined by council valuation) that could be obtained by selling that parcel of land
MrVIP,
Are you sure this is your default? Have you enquired with the organisation that placed the default? Did you receive any documentation from them when they were asking for payment?
A different spelling would normally mean Baycorp would set up a separate file associated with that person (?) and the associated spelling because on the surface they could not determine if that was the same or different people.
Of course if they have been provided evidence ie drivers license number that matches yours then this new record would be updated on your file.
Not, however, including your primary place of residenceOnly if owned in an individual name (natural person)
It is applied to all land in Victoria, however only on the unimproved value.
You should receive your notice by no later than June.
http://www.sro.vic.gov.au/sro/srowebsite.nsf/taxes_landtax.htm?OpenPage&charset=iso-8859-1
One way I’ve stopped paying any additional land tax is, stopped PI in NSW, moved on, it’s a big world out there. i.e. taken my business elsewhere.If you are still investing in property, land tax is levied in all states.
Ultimately you may look to pass on these costs to rents, however the market (ie supply and demand) will ultimately determine what is a fair market rate. Increasing your rent to compensate any increase in costs eg land tax or interest rate rise, may price you out of the rental market for your property.
Just a thought
Under the NSW FHOG, it actually mentions that it only applies for persons aged 16 and over. If you cannot enter into a contract under 18, what seems to be the purpose of the 16 and over qualification rule?
Also, looking at refinancing a homeloan that will hit me with a 3% exit fee. Would that be tax deductable as a borrowing expense?Mortgage discharge expenses are deductible. These are deductible to the extent that the mortgage is for investment purposes.
When we complete our tax returns we offest any costs with rent at the current market rate not the rent they actually pay ushttp://www.ato.gov.au/content/downloads/NAT1729-04.pdf page 6
If we sell this property within 6 years of first buying it do we have to pay CGT on it, considering we lived in it before we rented it out?If you have not taken up another PPOR in the meantime, you could sell it CGT free
Terry,
Aren’t they also owned by GE? Not sure if they are chasing a different market or playing in the same arena as GE & PMI.
You would need to establish when the previous valuation was undertaken. This should be on your previous notices. I would suspect that it was not last year though…
