Benny replied to the topic To invest or pay down debt? in the forum Help Needed! 1 month ago
Hi Mat,
You sound like you two are in good shape – sort of. Having the rentals’ mortgages fully offset sounds like a good position to be in. On the flip side, that sounds like a lot of lazy equity. Now, so you know, I am NOT any kind of professional adviser – I’m just a bloke with an opinion or two to share, so do take the time to test…[Read more]
Benny replied to the topic New Home buyer in the forum Buy, Swap & Sell 1 month, 1 week ago
Hi Gurpreetc,
The link posted here might provide some thoughts around the subject:-
This takes you to the “Big Picture” thread, then click on the next link seen in that post. You may wish to check out more of “The Big Picture” too, so scr…[Read more]
Benny replied to the topic How does an increase in the RBA's cash rate help? in the forum General Property 1 month, 1 week ago
RBA: Here they go again. A 0.50% increase this time, after a 0.25% first up. So, double what I said last time.
But hey there are a few schools of thought here. The RBA have been jawboning for months about “needing to have 6 rises of cash rate by end of year” or some similar rhetoric. Now, by going hard right off the bat, some analys…[Read more]
Benny started the topic What is wrong with a 5% wage increase? in the forum Opinionated! 1 month, 3 weeks ago
To me, the thing that is wrong with an across-the-board wage increase is that EVERYTHING then goes up by that amount (or more). This is how I think of it:-
1. A Govt awards a 5% increase to the minimum wage – this is then followed by other awards also seeking a similar lift.
2. Businesses then need to pay their workers 5% more, so they nee…[Read more]
Benny started the topic What is wrong with a 5% wage increase? in the forum Opinionated! 1 month, 3 weeks ago
To me, the thing that is wrong with an across-the-board wage increase is that EVERYTHING then goes up by that amount. This is how I think of it:-
1. A Govt awards a 5% increase to the minimum wage – this is then followed by other awards also seeking a similar lift.
2. Businesses then need to pay their workers 5% more, so they need to lift the…[Read more]
Benny replied to the topic [Live webinar] How Rebecca made $400K from a property deal in just 15 months! in the forum Heads Up! 2 months, 1 week ago
Hi Tony,
Since we are no longer on Daylight Saving time, some of these times are incorrect (e.g. Qld for sure, and perhaps NT and WA?):-
That’s Wednesday at 7pm in NSW, ACT, VIC and TAS | 6:30pm in SA | 6pm in QLD | 5:30pm in NT | and 4pm in WA.
Benny
Benny replied to the topic CGT event and CGT Discount in the forum Help Needed! 2 months, 1 week ago
Hi Runnyman,
Found this just today on ATO website:-
https://www.ato.gov.au/individuals/capital-gains-tax/cgt-events/
if you sell a house, the CGT event happens on the date of the contract, not when you settle.
i.e. it sounds like you have it right, except I didn’t see anything about BUYING and its CGT date.
That ATO page has a chat function -…[Read more]
Benny replied to the topic Is there a replacement for Investment Detective? in the forum Help Needed! 2 months, 2 weeks ago
For anyone else reading, check out this topic for info re STEPS
https://www.propertyinvesting.com/topic/5082846-training/
Note too, the Deal Club mentioned is already in train, but those who sign up can access recordings of previous lessons to “catch up”,
Benny
Benny replied to the topic Is there a replacement for Investment Detective? in the forum Help Needed! 2 months, 2 weeks ago
For anyone else reading, check out this topic for info re STEPS
https://www.propertyinvesting.com/topic/5082846-training/
Benny
Benny replied to the topic Cash poor but equity rich – can I start? in the forum General Property 2 months, 3 weeks ago
Hi Bel,
Sounds like you are ready to move on – and it is great that you are checking out options ahead of jumping in. Right off, there’d be more info required before being able to offer sensible options. so, if you would, have a crack at answering the following questions.
1. What are your long-term goals? i.e. are you considering furth…[Read more]
Benny replied to the topic Cash poor but equity rich – can I start? in the forum General Property 2 months, 3 weeks ago
Hi Bel,
Sounds like you are ready to move on – and it is great that you are checking out options ahead of jumping in. Right off, there’d be more info required before being able to offer sensible options. so, if you would, have a crack at answering the following questions.
1. What are your long-term goals? i.e. are you considering furth…[Read more]
Benny replied to the topic Large loan or Small loan in the forum Creative Investing 2 months, 3 weeks ago
Hi dDream,
Currently, have a loan of $350 k with a bought property two years ago. And this will return equity of $85k for today ( as the broker told me).
I presume from the above that the house value is now about $550k (i.e. your equity is approx $200k). i.e. the borrowable extra amount is $85k if refinancing to 80% LVR. About right? (If…[Read more]
Benny replied to the topic How does an increase in the RBA's cash rate help? in the forum General Property 3 months ago
Hi Sandhya,
Sorry, my comment was a bit terse. Good to know you worked it out. For others who were wondering, let me add a bit more around that calculation :-
For the person with the average mortgage of (say) 2.5%, that is a 10% increase right off the bat.
A 0.25% increase against a 2.5% mortgage interest rate is a 10% lift. That is actu…[Read more]
Benny replied to the topic How does an increase in the RBA's cash rate help? in the forum General Property 3 months, 1 week ago
Thanks Steve. Good comment about “dropping an anvil on ScoMo’s head. So true !!! That will give Labor lots more ammunition for the next 3 weeks.
And yes – a 250% increase. Well caught. For the person with the average mortgage of (say) 2.5%, that is a 10% increase right off the bat. Why so big so quickly? While we have a housing pr…[Read more]
Benny started the topic How does an increase in the RBA's cash rate help? in the forum General Property 3 months, 1 week ago
Hi all,
I can’t for the life of me see HOW adding ANY increase to the current cash rate will help anything. Like, I know we are at an “emergency rate level”, but then, with Covid, Ukraine, petrol costs, and rental/housing costs all doing their thing, they are increasing our costs of living DESPITE anything Australia can do (well, maybe…[Read more]
Benny started the topic How does an increase in the RBA's cash rate help? in the forum General Property 3 months, 1 week ago
Hi all,
I can’t for the life of me see HOW adding ANY increase to the current cash rate will help anything. Like, I know we are at an “emergency rate level”, but then, with Covid, Ukraine, petrol costs, and rental/housing costs all doing their thing, they are increasing our costs of living DESPITE anything Australia can do (well, maybe…[Read more]
Benny replied to the topic I want to ask about the tax on the sale of the house. in the forum Opinionated! 3 months, 1 week ago
Hi Naruk,
Are you out there?
Benny
Benny replied to the topic Training in the forum Help Needed! 3 months, 1 week ago
Hi Laura,
There is a series of webinars due to start soon in May. Call up the office on 03 85920270 and enquire about Deal Club. As far as I know this will be Steve sharing his findings as he does a deal (likely Commercial) and also advising viewers who are looking at buying properties (likely using STEPS) and want to ask him questions. T…[Read more]
Benny replied to the topic Training in the forum Help Needed! 3 months, 1 week ago
Hi Laura,
There is a series of webinars due to start soon in May. Call up the office on 03 85920270 and enquire about Deal Club. As far as I know this will be Steve sharing his findings as he does a deal (likely Commercial) and also advising viewers who are looking at buying properties (likely using STEPS) and want to ask questions. These web…[Read more]
Benny replied to the topic I want to ask about the tax on the sale of the house. in the forum Opinionated! 3 months, 2 weeks ago
Hi Naruk,
Did you build it to live in? And did you live in it? If so, how long? Have you asked your accountant these questions?
Benny
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