Where to start?

The Italian Job (original vers.)
Lock, Stock & 2 Smoking Barrells
Snatch
The Mean Machine (new vers.)
anything Monty P
(sorry) anything Bond except Lazenby
Thomas Crown Affair ((new vers.) Renee Russo! fworrr!!!!!)
LOTR
Platoon
Saving Private Ryan
Chariots of Fire (ignoring the fact that they passed the port the wron way around…[Read more]

Definately BLOKE! Definately Married therefore not allowed to discuss “member” in public!!

Regards

Patrick

The dumbest question is the one you don’t ask.

Hi
As I understand it, I may be wrong, there are a few variables which I’ll try & explain.
Items purchased for use on a new house (paint, windex, solastic etc etc) are capital expenditure.
Items purchased for an existing IP which is, say, between tennants are generally 100% deductable if they are a REPAIR. This is direct replacement,like-for-like…[Read more]

Hi Steve,
I have to side with c@34 & say why? Unless you start getting more complex with all this stuff and really know what you’re on about, you may get bitten on the bum (so to speak!). Have you crunched the numbers to find out how much money you’ll save verses extra time (yours for filling out forms such as BASs etc. and keeping very detailed…[Read more]

Hi
Just remember that any cosmetic work done before your initial tennants move in, will not be tax deducable. You have to have had tennants in the have “caused wear & tear” that needs repairing.

Regards

Patrick

The dumbest question is the one you don’t ask.

Hi Kay
Thanks for the tip, I’ll certainly contact melbear when she is back from the great unknown.

Regards

Patrick

The dumbest question is the one you don’t ask.

Hi all,
This discussion is most interesting. Its the first time I have heard any +ve feedback (from the purchaser’s point of view!) about buying OTP. I hope there is more to come.
Thanks

Regards

Patrick

The dumbest question is the one you don’t ask.

crj,
Thanks for the info. I’ll digest that & go from there.
[thumbsupanim][thumbsupanim][thumbsupanim]

Regards

Patrick

The dumbest question is the one you don’t ask.

Hi
I’ve just read Steve’s book for the second time, without skipping any of it. The whole wraps & flips thing leaves me gobsmacked! I understand the words written on the page, but not the concept.
I have been researching property investing for a few months, have nearly bought a property on a couple of occasions only to back out at the last second…[Read more]

Hi shirl1978,
I’m not one of those types that has to forge ahead at all costs, I’m a bit more conservative so tend to agree with your accountant.
If you still wish to go ahead, there are a few things you should consider:
Number crunching 1) What if the interest rates go up say 2%? 2) What if your profits drop? 3) What happens if you get a…[Read more]

Hi Wayne

Based on the info given – here is what I may do if I were in your situation.
Do the bare minimum of work to get the property habitable & rent it out for 12 months. This may leave you CF- or CFn but if its -ve the you get the tax break. After the year is up you can then do the renos & by the sound of it most will be deductible. If you…[Read more]

Hi Marisa,
Blue metal is ok but it will make a difference what floors arein the property. Sounds daft I know. The small stones that get stuck in shoes can really damage timber floors, cork, vinyl etc. You should still follow the previous good advice on edges etc. It looks nice but is hard work to put in & can be very dusty in summer.

Concrete is…[Read more]

HG,
Have just seen some pics of a friend’s new kitchen. She went the secondhand way. Wow! She & her brother put must of it in themselves (except the usual plumber/sparky stuff). The only other paid work was a bloke to cut the granite tops to size. Looks great and cost a fraction of the new price.
Have a look in the Trading Post & see how you…[Read more]

Hi David
If you look at Jaffasoft’s website (jaffasoft.com) there is a downloadable calculator that works the +ve thing. Hope this saves you any extra work.[biggrin]

Regards

Patrick

The dumbest question is the one you don’t ask.

Hi
That sounds really interesting. What sort of figures are we talking? I’m asking because I already have an IP “down south” near where my parents live (I live in Oz). Any more info would be much appreciated.[suave]

Regards

Patrick

The dumbest question is the one you don’t ask.

Should have mentioned that kitchen 1 was put in an 1830s house & kitchen 2 was put in a 1790’s barn conversion!
I’m sure more modern places are much easier.

Regards

Patrick

The dumbest question is the one you don’t ask.

Hi HG

Flat-pack kitchens?
[grrr] AAAAARRRRRGGGGHHHHH!!!!!!!!!![grrr]
My dad & did one about 3 years ago. We’re both pretty useful with our hands.
It seemed like a good idea at the time. What you have to do is double check the room’s measurements. We found that the window, floor & ceiling weren’t parallel. The room wasn’t square and the floor…[Read more]

Ah ha!!
Don’t know what I did wrong last night or did right this morning, but it now works & its great!!
[specool]

Regards

Patrick

The dumbest question is the one you don’t ask.

Hi Jaffa,
I’d like to say how great your calculator is – but I can’t get it to run on my laptop! I followed the prompts & downloaded the extra stuff but it still doesn’t work.
What do I do now?[confused2][eh]

Regards

Patrick

The dumbest question is the one you don’t ask.

Hi Brahms
You asked for it! Here goes.
The tale begins with wife about 6 months pregnant (3yrs ago). We had decided that a new car might be in order. Our impression was that our ’86 RB Gemini wasn’t the best mode of transport for the impending production. Its still okay for me to use as a second car/runabout.
With car hunting at the back our…[Read more]