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Benny

Start a Digital Business in 2017
  • Hi Lisa,
    Thank you for the information relating to Cherie’s course. It is as well that purchasers are made aware of the limitations of purchasing such goods secondhand.

    I have referred to your post in a new topic that will reside in the Buy Swap and Sell forum -…[Read more]

  • Hi all,
    Before using this forum to put an Educational product up For Sale, please do read the post that outlines what is allowed, and the rules governing the usage of the forum.

    Those looking to PURCHASE should similarly make themselves aware of any shortcomings in buying secondhand. e.g. With books and/or CD’s or DVD’s, usually it is…[Read more]

  • Benny replied to the topic 7.25% interest rates? in the forum Finance 1 week, 1 day ago

    I think the natural “order of things” should preclude rates reaching those levels. Here’s why:-

    1. Back in the 80’s when we were paying 17% Interest, the average value of a house was $50k to $100k. Also back then, yields were 10% to 15%. Yearly interest was thus in the order of $9k up to $17k.

    2. Over the 90’s, prices doubled, but Interest…[Read more]

  • Benny replied to the topic Re-financing in the forum Finance 1 week, 3 days ago

    Hi Michael,

    I’m thinking of the following solution: I believe the value of the property would drop by at least 20%.

    Thanks for the answers provided so far – that now leads me to a few more questions/comments that might help you to arrive at the right conclusion for YOU. You mentioned you expect at least a 20% drop, and I understand that to b…[Read more]

  • Benny replied to the topic Re-financing in the forum Finance 1 week, 3 days ago

    Hi Michael,

    I’m thinking of the following solution: I believe the value of the property would drop by at least 20%.

    Thanks for the answers provided so far – that now leads me to a few more questions/comments that might help you to arrive at the right conclusion for YOU. You mentioned you expect at least a 20% drop, and I understand that to b…[Read more]

  • Benny replied to the topic Re-financing in the forum Finance 1 week, 5 days ago

    Hi Michael,
    Steve McKnight would probably say “If you wouldn’t buy it today at the price it is, why are you keeping it?” … or words to that effect.

    I don’t know your numbers but you will….. Consider :-

    1. What it will cost you per year to hold it currently (even as its value diminishes too?) – isn’t this good money going after…[Read more]

  • Benny replied to the topic CGT in the forum Legal & Accounting 2 weeks, 5 days ago

    Hi Terry,

    Thanks so much for that link to the legislation. Personally, I found that MUCH easier to read than those earlier examples. It was clear, unequivocal, and easy to understand. I think I will store that link as a Favorite !!

    The only area that is less clear (for me) is 3A where they refer to other “sections”…

    Benny

  • Benny replied to the topic CGT in the forum Legal & Accounting 2 weeks, 5 days ago

    Hi Terry,

    Thanks so much for that link to the legislation. Personally, I found that MUCH easier to read than those earlier examples. They were clear, unequivocal, and easy to understand. I think I will store that link as a Favorite !!

    The only area that is less clear (for me) is 3A where they refer to other “sections”…

    Benny

  • The Tax Deduction doesn’t happen in Australia, but happens in UK or NZ, depending on the choice of investment.

    Cool – thanks for the clarification,

    Benny

  • Benny replied to the topic CGT in the forum Legal & Accounting 2 weeks, 5 days ago

    Hi James,

    This is assuming the property is your MPR (as is assumed in brackets at the end of my quote).

    You are right! I missed it, as I was unaware of the acronym “MPR”. I know the term as PPOR – Principal Place of Residence? Was the change to MPR (Main Primary Residence) a recent change?

    And isn’t “main primary” tautological? I wonder…[Read more]

  • Benny replied to the topic CGT in the forum Legal & Accounting 2 weeks, 5 days ago

    Hi James,

    This is assuming the property is your MPR (as is assumed in brackets at the end of my quote).

    You are right! I missed it, as I was unaware of the acronym “MPR”. I know the term as PPOR – Principal Place of Residence? Was the change to MPR (Main Primary Residence) a recent change?

    And isn’t “main primary” tautological? I…[Read more]

  • Benny replied to the topic CGT in the forum Legal & Accounting 2 weeks, 5 days ago

    Hi Propertyboy,
    The reason Rami didn’t get a new 6-year exemption is that he DIDN’T move back into the place. The words quoted show that:-

    Rami was posted by his employer from Brisbane to Melbourne for three years and settled a contract to buy a townhouse in Melbourne. He did not return to his Sydney apartment at this time.

    Had he returned to…[Read more]

  • Hi Steven,
    Totally right re “Cashflow being more important than Growth”. The whole scenario has been pretty well presented, so well done. There is one area I think needs a little more focus though, or maybe I am missing something:-

    b) Next, comes Capital Gain Tax, so bye bye 25% of my profit.
    c) Finally, the remaining profit is treated as my…

    [Read more]

  • Hi Steven,
    Totally right re “Cashflow being more important than Growth”. The whole scenario has been pretty well presented, so well done. There is one area I think needs a little more focus though, or maybe I am missing something:-

    b) Next, comes Capital Gain Tax, so bye bye 25% of my profit.
    c) Finally, the remaining profit is treated as my…

    [Read more]

  • Benny replied to the topic CGT in the forum Legal & Accounting 2 weeks, 6 days ago

    Hi James,

    The only caveat being you cannot live in the property and rent out part of the property (ie a room), you must live in it solely.

    Isn’t there another caveat – that they don’t buy another PPOR (i.e. they rent elsewhere) while their PPOR is rented out??

    Benny

  • Good to hear they are covering that too. For mine, doing that for a FIRST IP is a good way to get you moving. The more things on your side, the better. And, if it works well, do it for your second too.

    But you are right – if the deal is good, it should stand alone even in a bad market. And yes, cashflow is King !!

    Playing devil’s advocate…[Read more]

  • Hi Steven,
    One point not mentioned (probably wisely, as it is not a “given” on any particular day, week, or year) is the trend in the area of purchase. e.g. If the Property Clock is showing between 7 and 10 o’clock, then there is a good chance that you will be the beneficiary of some equity lifts simply by holding property in an area where…[Read more]

  • With those flips, I think the way you do them is important (and I haven’t done any at all, so I am flapping my gums here, but other members might be able to step in…..)

    e.g. I think it can work out if one takes out an option, then onsells that option to someone else. In that way, you never do take possession of the property, so you don’t…[Read more]

  • Hmm, the confusing part I see (or read), Steven, is that you don’t have time to find/buy/research a property in Australia, even if using a Buyers Agent for $6k or so.

    But if you pay them $28k, then you will need to spend 6 months learning about THEIR o’seas market (a purchaseable option?), and untold time researching their deal, checking out…[Read more]

  • Load More

Benny

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