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  • Profile photo of zeffixzeffix
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    @zeffix
    Join Date: 2004
    Post Count: 5
    April 24, 2004 - 1:33 pm

    Hi Marc

    Totally agree with Jay’s comment. He is property investor himself and understands the needs of a PI. E-mail him and I am sure you won’t be disappointed

    Zeffix

    Profile photo of zeffixzeffix
    Member
    @zeffix
    Join Date: 2004
    Post Count: 5
    April 5, 2004 - 2:09 pm

    Hi All,

    My uncle bought a penhouse in Auburn for $950,000 with a mortgage of $1.007 million.

    By Steve’s definition my uncle is currently controlling a million dollars of property. Does he classify as a property millionaire?

    Profile photo of zeffixzeffix
    Member
    @zeffix
    Join Date: 2004
    Post Count: 5
    April 3, 2004 - 3:10 pm

    Hi Chan:

    That’s great news for you. This is what the forum is all about: to learn from other’s mistakes and to share other’s experiences. You will never know what you can pick up during discussion or simply by reading.

    I am new to this forum and already loving it. Happy posting everybody!

    Zeffix

    Profile photo of zeffixzeffix
    Member
    @zeffix
    Join Date: 2004
    Post Count: 5
    March 30, 2004 - 7:02 am

    Hi Nathan:
    >>>no depreciation for me as the IP is 28 years old (1976) and just misses out according to the ATO.Bummer.>>>

    Yes, you don’t get any depreciation on the building cost. However, you can get contents depreciaton, like curtains, carpets, lightfitting, stove… You’ll be surprice how much contents depreciation you can get even with an old house. Some QS company quarantees a certain amount in their report. QS report is a must for IP doesn’t matter how old the property is

Viewing 4 posts - 1 through 4 (of 4 total)