Total Members: 158,197

ruk

  • ruk started the topic Asset Rich – Cash Poor. in the forum Help Needed! 9 years, 7 months ago

    I need finance to purchase another i p for $1,500,000.
    I have assets totaling $2,150,000, plus the new purchase, would bring my asset total to $3,650,000.
    My problem seems to be, $800,000 of my assets are commercial and commercial does not seem to rate very well with the banks, but that is where I get my best income from.

    I need help urgently as…[Read more]

  • ruk replied to the topic Need new computer in the forum Help Needed! 12 years, 6 months ago

    if you need a computer to handle your investments, you may be able to claim it as a business expense, either in part or full, or maybe some depreciation for part or full amount.

  • ruk replied to the topic Home Loan Question? in the forum Finance 12 years, 6 months ago

    I don't think the FHOG actually stipulates how long you have to live there to claim it, all you have to do, after you get it is say you intended to live there but found that you could not afford to after all, also as far as an investment loan goes, you just tell the bank that it took longer than you thought to find a decent tenant.

  • ruk replied to the topic LOC vs Loan with 100% offset in the forum Hey Tlp,Both have the same 13 years, 4 months ago

    Hey Tlp,Both have the same end result, they are the best way to borrow, BUT you must keep a record of what interest is business and what is personal, as the ATO will rip you a new one.I just got a $500,000 LOC from Homeside Lending(part of NAB) @ 6.47%, to get that rate I had to have 40% and put up only residential to be mortgaged.I think you can…[Read more]

  • ruk replied to the topic land next to golf course in the forum Thanks FinSpec, located 14 years, 7 months ago

    Thanks FinSpec, located exactly in Atherton, north queensland about 100 km from Cairns.

  • ruk replied to the topic land next to golf course in the forum Thanks, but already tried 14 years, 7 months ago

    Thanks, but already tried that, the valuer can only  compare it to other sales  in the area,  and none of them are as close to town or next to a golf course, the value they gave me was for $ 500,000, even an idiot like me knows it's worth more than that.At $20,000 per developable block it's worth $ 1,480,000. anywhere else in town, but everyone el…[Read more]

  • ruk replied to the topic 2.3 million of property in the forum Help Needed! 15 years, 10 months ago

    remember it's better to pay interest, than tax.

  • ruk replied to the topic What is the benefit of an interest only loan? in the forum Finance 15 years, 10 months ago

    my reason for interest only loans.Borrow $400,000 in 2008.Pay it off in 2033, when $400,000 will be the cost of a small car.There are lots of other benefits too, as mentioned before, but I like this one the best.

  • ruk replied to the topic should agents commissions come down? in the forum General Property 15 years, 10 months ago

    I have been a " agent " actually it's sales person on and off for many years, the agent is the owner of the business.I agree commissions are too high, but remember it's not always booming, there were 14 years of hard times.Things always look greener on the other side of the fence, don't they.

  • ruk replied to the topic Cairns apartment investments in the forum General Property 15 years, 10 months ago

    go to real estate .com and chek out what else is available, as this name "waterside" is a bit missleading, being 3 km from the city,the price sounds a bit high as well.

  • ruk replied to the topic Vinyl Flooring in the forum Value Adding 15 years, 10 months ago

    vinyl tiles are usually solid vinyl and can be cut back if scratched, whereas vinyl sheeting only has a thin skin of vinyl on top, but i have had vinyl tiles shrink after a few years, they may have improved in recent years.

  • ruk replied to the topic To what extent is advise/ recommendations ilegal? in the forum Legal & Accounting 15 years, 11 months ago

    are you charging for this advise.

  • ruk replied to the topic building houses in the forum Value Adding 15 years, 11 months ago

    Now land is $130,0004 br rendered block house around 200m2 = $170,000Legals + stamp duty $ 10,000Sale price $ 400,000Agent $ 10,000all amounts are approx. but you get the idea.even if you only make $ 10,000, it's still better than nothing, and you get a #*%@ load of experience, so you will do better on the next one.RUK

  • ruk replied to the topic R u Ready for a recession in the forum General Property 15 years, 11 months ago

    thanks for that

  • ruk replied to the topic building houses in the forum Value Adding 15 years, 11 months ago

    the market has changed since i did my last one but you should still make a profit, I made $120,000 in 10 months, with a $250,000 outlay.at the moment, if I did it again, it would cost me $310,000 and I would only make $80,000.the profit is definately in it, but so are the headaches, with everybody, from the word go, the draftsman, the builder, the…[Read more]

  • ruk replied to the topic PI Noice – Please Help !!! in the forum Help Needed! 15 years, 11 months ago

    Work out how much you need to live on, subtract that from your net income, and the balance divided by the interest rate and that will give you the amount to borrow to buy ip's, you will also have the net income from the ip's to help you pay off even more borrowings and then it just goes on from there, make more, borrow more, buy more, make more,…[Read more]

  • ruk replied to the topic Serious Saver 7.25% in the forum General Property 16 years ago

    Go to ratecity.com.auSuncorp is offering 8.2%

  • ruk replied to the topic Monthly Rent Calculation in the forum Help Needed! 16 years, 2 months ago

    remember there are 13 – 4 week months in a year but only 12 calander months, so if paid on the same day each month you will get 12, make sure the tenant understands this, as some of mine have been too stupid. and the agents not much better.

ruk

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