Hi Cathy,

I believe the person Steve was referring to back then was Derek Gehl.  Derek was often a speaker at Steve’s Mega Conferences back then.  If you do a Search for that name you will find lots of posts, some of which include links to Derek’s website.

Benny

Hi CMS,

Thanks for your VERY informative post.  I do take your point re “be cautious about retaining a loss”, and I admit my thoughts at the time of posting didn’t cover “How do you get to finalise a loan where a sale doesn’t cover the full mortgage” – I was simply assuming Anton WAS able to settle things with the lender, and that losses…[Read more]

Hi Cathy,

Welcome to you too.  And Ouch!!  Sorry to hear of your loss, but good to hear you are moving on – I’m sure that couldn’t have been an easy decision.

Hopefully some of the thoughts I shared with Anton will be useful to you too.  But then, maybe you are already a full bottle on all of those anyway.   Perhaps you can share with Anton how…[Read more]

Hi Anton,

I’m sure you are not alone in having taken advantage of “good times” during the mining boom, then having it all turn bad some time later.  It is good that you are here though, and I hope to perhaps turn on a light or two for you.  I see you have a few options.  That can be a curse or a friend – a curse when trying to make a decision wi…[Read more]

Hi aa236,

Thank you for respecting our place by asking first – we are all about education and we welcome discussions re property – its foibles, its successes, its legalities, its hurdles, etc.   But we don’t allow adverts for properties for sale at this time.   Welcome aboard anyway, and do join in on the various discussions that occur.

Benny

Hi Mark,

Thanks so much for that – and thanks to Steve for asking you to step in.  This sounds as horrible as I had first thought it was – but it is good to have clarification since it IS now Law.  Wow!!

One to watch out for if you are an expat, or contemplating becoming one, eh?

Benny

Yeh but why are they rushing to sell? If they can move back in and then get the CGT exemption why are the articles suggesting everyone is rushing to sell? It is no different to before if they are truely expats looking to move back and become residents again.

The one thing we can all be sure of is that successive Govts will tend to “tinker” with…[Read more]

Yeh but why are they rushing to sell? If they can move back in and then get the CGT exemption why are the articles suggesting everyone is rushing to sell? It is no different to before if they are truely expats looking to move back and become residents again.

Could it be that these sellers are not planning on returning any time soon, or perhaps…[Read more]

Hi propertyboy,

Before the rule change if they lived in the house for 15 years then moved overseas, as long as they were non resident for < 6 years, they could have sold whilst overseas and paid no CGT? Is that the key change?

I think it is far worse than that.  Note I am NOT an adviser in this – so my opinion only – as I recall, previously they…[Read more]

Hi propertyboy,

Also, why is that couple making such a big deal? Why would they rush to sell it and not hold and then move back and sell unless they never planned to move back? If they were never planning on moving back they would be hit with the 6 year CGT exemption rule anyway so would then start paying CGT. Is there something I am missing in…

[Read more]

Hi propertyboy,

Also, why is that couple making such a big deal? Why would they rush to sell it and not hold and then move back and sell unless they never planned to move back? If they were never planning on moving back they would be hit with the 6 year CGT exemption rule anyway so would then start paying CGT. Is there something I am missing in…

[Read more]

Hi propertyboy,

Also, why is that couple making such a big deal? Why would they rush to sell it and not hold and then move back and sell unless they never planned to move back? If they were never planning on moving back they would be hit with the 6 year CGT exemption rule anyway so would then start paying CGT. Is there something I am missing in…

[Read more]

Hi Mozza,

I’ve had no experience with this kind of situation – but one thought that sticks out is the old chestnut of “When a student goes on holiday for 3 months, where does my income come from?”   Now in your case, it is NEAR the Uni, but is also near a train station – so that means you might be able to rent to non-students.   At this time I t…[Read more]

Hi Mr Elmo,

Did you check the “Buy, Swap, and Sell Forum”?   If not, go here – https://www.propertyinvesting.com/forums/community/buy-swap-sell/

The Buy/Swap pages have a few mentions that could interest you.  Or, you could Search for “Rick Otton” and see what links turn up.

Benny

Hi Matty,

I would think “returning it to its original condition” should be no problem in making a repair claim.  Thus replacing tiles, etc, should all be claimable (but NOTE – I am not an adviser of this kind of thing, so treat my thoughts as opinion only and check it out with your fave adviser).   Re the re-painting, is that the whole roof, or…[Read more]

Hi Typing Dog,

I don’t think you are missing much at all.  I ran my own airbnb for a number of years, and its return was very good despite the high vacancy rate. Alongside that, it allowed for tradies to come by through the week if needed (saved expensive weekend callout rates) and it also allowed us to take our own holiday times when it was not…[Read more]

Hi Typing Dog,

I don’t think you are missing much at all.  I ran my own airbnb for a number of years, and its return was very good despite the high vacancy rate. Alongside that, it allowed for tradies to come by through the week if needed (saved expensive callout rates) and it also allowed us to take our own holiday times when it was not in use…[Read more]

Hi Trevor,

I wanted to start by saying “Good for you for using a spreadsheet to start tracking this”.  For me, I found it helped me to learn Excel from scratch, while also allowing me to finetune my thinking re my early Real Estate days as I went along.  Each time I met another investor, or went to a seminar, read a book, etc – it all helped me t…[Read more]

Hi Trevor,

I wanted to start by saying “Good for you for using a spreadsheet to start tracking this”.  For me, I found it helped me to learn Excel from scratch, while also allowing me to finetune my thinking re Real Estate as I went along.  Each time I met someone else, or went to a seminar, read a book, etc – it all helped me to revise my t…[Read more]

Hi Ben,

I do feel I’ve done my research and I’m ready to take any action possible.

All good then Ben – I wasn’t sure, so wanted to sound a warning just in case.  Good luck with your search for more MB info (I can’t help you with that).

Benny