At the risk of sounding like an ambulance chaser, let me let you in on a little secret I thought up, and worked hard at for a number of months.

Firstly, good reasons for houses on the market? Divorce, deceased, mortgagee in possession, job transfer, etc.

I thought that if relatives were out of area, there would be a better chance of them wanting…[Read more]

Mmmmmmm. If the house around the corner is worth less that 265, why is this one worth 285 (which is really what the owner is getting, as it sounds as though he is saving the agents fee, not you!)

Im with the loanarranger, find out NOW from council about any future developments possible ie easements, covenants, etc, else you may not be able to do…[Read more]

Pisces, I gotta agree, agree, and agree with you entirely on this one.

(wrappack jumps up on his high horse, a fine, muscular palamino mare)

1) Being hooked on smoking. 40-50 bucks a week down the drain, but in pre tax dollars, probably 70-100 dollars.
13 years ago a friend was going to give up the smokes when they hit $5 a pack. Yep, hes still…[Read more]

My 22c worth.

It would depend on income (no use neg gearing on the pension!), and also your intention.

Is your intention to buy one expensive property that will be a prime development site in 20 years time? Or do you wish to be getting tenants, etc.

I saw this question of yours and immediately thought of ‘the answer’, which is ‘it depends’

One…[Read more]

I’ll also lay my cards on the table and go into bat for all of us.

I think Russ’s first post would strike a chord with over 90 percent of people in the street. ie made sick by a house full of rubbish and filth

Yes, a few of us (particularly in the health field) have broader life experiences involving mentally ill people, and can guess on the…[Read more]

I’m going to have to disagree with Steve on his point #2. The 50% exemption for indivuduals making a capital gain is only when the asset has been held continually for 12 months or more. Thus, if you flip, or sell 364 days down the track, you will have the glorious honour of paying your marginal tax rate on all of the profit.

It sounded from your last post that when you sell (either ip/backyard), you will pay down your ip loans. Dont do this!

Pay any extra money off your ppor, as this is not tax deductable

A couple of numbers for word-

If the bank will lend you 160k, then why not buy 2 pos/neutral/slightly neg geared, in the same area which you think will go well in the long run?

As for renting to the ex- well, in the same way that you have let someone else marry her, let someone else tenant her!

He talks about buying properties with a twist, ie a church that can be renod into 2 stories, a corner house that can be rented as a business.

Anyone else got any ideas about “properties with a twist”?

Good to see you are thinking laterally with regards to centrelink.

Couple o’ thoughts

Try to think about what you should do disregarding centrelink. So often people do something ‘because of centrelink’ or ‘to save tax’ that just loses them money.

Thus, do all of your sums, ask centrelink AND a qualified accountant PRIOR to actually doing…[Read more]

Mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm.

Heres my .22 of a cent worth.

If you EVER intend to form a partnership, simply ask a lawyer to explain the words ‘joint and severally liable’ to you. If you have a fraction of functional grey matter, you will not do it.

Read monopolies posting about the restaraunt bill about thirty times each day you are…[Read more]

Many thanks for your replies.

My idea (or as baldrick would say, my cunning plan, but I digress) is to get some large acreage (or mid size acreage), then to subdivide into smaller acreages (possibly with dual occupancies).

Then, move multiple properties (long term, would just be doing one at a time) to rent out.

As for type/size, it would come…[Read more]

Thorpie back in [biggrin]

I would probably get new (v.low) valuations, then go to centrelink and get things changed.

When *not* if, they find out, they will totally screw you for back payments which will drain you financially.

You may find out that you may be best to sell an IP, and get the home loan down.

Talk to an accountant who knows about centrelink issues prior to…[Read more]

Gotta agree with russ on this, that if you dont know the rules, better off playing another game.

But, I am still undeterred, as I just need another paid member on my team who can tell me what is/not possible.

If I was going to an area, who (apart from the local council) would I be best to talk to, when subdividing a very large farm into medium…[Read more]

In a similar vein to this thread, my wife and I claimed the fhog on our house.

I am interested in buying some acreage in qld in our 3 kiddies names.

If I could find acreage on three titles (easily done), can I get 7k times three (assuming they stay in the kiddies names and I guarrantor and pay the loans)?

Looks like Mr T will be vf 20% of the purchase price for 2 years. At least then he will-

get 80% of the price he wants
avert a meltdown for a couple of years
keep a few units for himself . He usually keeps a few as serviced apartments/rentals, as it is very handy to control the body corporate!

Its really very easy to get a rea working hard.

IMHO, there are only two ways. Firstly, get some bailing twine, a telephone, baseball bat and a cattle prod. Abduct and tie up all the rea family, relatives, and friends (the last is the easiest, due to the minimal numbers involved). After they are all tied up, break all of his bones with the…[Read more]

Many thanks for your help.

Russ, I realise that out of town is there predominantly for farming/difficulty in geography.

I came across a property of about 200acres, and around the property were some of 10-400acres.

If I could subdivide the 200 bit by bit into even 20 or 40 acres, this would turn the property from a ‘real’ farm into a ‘hobby’…[Read more]

Majic, the 2.25% (on gross sale price) will apply to all properties sold after a certain date (I forget), as long as it is about 15 or20% more than was paid. It is not just for ips bought ‘after’ a certain date- as happened with the CGT in 85

Pisces, I think that my duplex idea is brilliant, but i fear that the overall investment climate has…[Read more]