PropertyInvesting.com | binscab | Activity https://www.propertyinvesting.com/members/binscab/activity/ Activity feed for binscab. Sun, 12 Apr 2026 03:09:42 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 bf08cfb5e8adbde65456e1c179d8f541 binscab replied to the topic Strata management just went up 50%!?!?!?!? in the forum Help Needed! https://www.propertyinvesting.com/topic/4401314-strata-management-just-went-up-50/#post-4632606 Mon, 27 Sep 2010 02:59:19 +0000 The bloke mentioned that the grounds are only contracted for the lawn/weeding and leaf blowing.There is alot of 'shrubbery' i.e. plants which are not trimmed etc so it seems like it isn't covered by them?I will investigate this matter further or do it myself if they are going to charge me more to do it.Thanks for all your help JacM. You raise a…[Read more]

]]> 8bdbdb252c25be9f35775f70d1512916 binscab replied to the topic Strata management just went up 50%!?!?!?!? in the forum Help Needed! https://www.propertyinvesting.com/topic/4401314-strata-management-just-went-up-50/#post-4632604 Mon, 27 Sep 2010 02:37:37 +0000 "There was a burst pipe as well as regular plumbing maintenance. The increase will apply over all 4 quarters levies, however we may be able to make a reduction at the next AGM if expenses over the year are less than expected."That's a fair increase! I have no idea how much these things cost but I guess they are just passing on their…[Read more]

]]> c33c5fc453a44046a4aee18e947dd105 binscab replied to the topic Strata management just went up 50%!?!?!?!? in the forum Hi guys, I've heard back https://www.propertyinvesting.com/topic/4401314-strata-management-just-went-up-50/#post-4632603 Mon, 27 Sep 2010 02:13:33 +0000 Hi guys, I've heard back from them – this was their reply.I've queried why the plumbing increased so much and whether it would be an ongoing charge."The main area of the budget that was increased is Plumbing, which cost almost double the amount expected during the last 12 months. There were also increases in allowance for Insurance and building…[Read more]

]]> 5a070e524eda89dbe9bc9a0e03d745a5 binscab replied to the topic Strata management just went up 50%!?!?!?!? in the forum Help Needed! https://www.propertyinvesting.com/topic/4401314-strata-management-just-went-up-50/#post-4632601 Mon, 27 Sep 2010 01:53:19 +0000 Fantastic!THanks so much JacM.Once I hear back from Strata corp re the excuse for the 50% mark up I'll let you guys know.Will also start contacting others in the group if the excuse is lacking in substance.Thanks once againScab

]]> 65a6ecf486f0213e8ce8224a39173656 binscab replied to the topic Strata management just went up 50%!?!?!?!? in the forum Help Needed! https://www.propertyinvesting.com/topic/4401314-strata-management-just-went-up-50/#post-4632598 Mon, 27 Sep 2010 01:02:24 +0000 I think there are about 7 altogether?It's more like a flat/unit setout.Ahhh is that possible? Do I just write a letter to each owner?Thanks for your input! I'm just starting off on my 'wealth creation journey' and live quite marginally so a 50% increase in expenses with no value added to me does hurt!

]]> ae39cbe46b05b6014e617f86a22e862f binscab replied to the topic Strata management just went up 50%!?!?!?!? in the forum Help Needed! https://www.propertyinvesting.com/topic/4401314-strata-management-just-went-up-50/#post-4632596 Mon, 27 Sep 2010 00:12:31 +0000 Ooops sorry that should read 1/10/10 – 31/12/10***

]]> 1a9cdfdb0ceb872bc87def06e3c3c271 binscab replied to the topic Student Accommodation in the forum Finance https://www.propertyinvesting.com/topic/4400467-student-accommodation-5/#post-4627570 Wed, 07 Jul 2010 06:24:42 +0000 Yep the one we snatched up was 3 bedrooms right in the heart of the CBD and right across the road from 2 universities.The main thing that we had to look at was to ensure it wasn't a leaseback arrangement – this make selling very hardAs long as you dictate who you want to rent it out to or even if you want to move in yourself.

]]> ea5392599c2258d0892176e69f08d8b9 binscab replied to the topic Student Accommodation in the forum Finance https://www.propertyinvesting.com/topic/4400467-student-accommodation-5/#post-4627566 Wed, 07 Jul 2010 02:20:17 +0000 Hi BankerThe property I just recently bought was student accomodation, alot of these properties have a 'lease back' arrangement where you have to lease it back to the Student Living Management Group.I made sure that mine wasn't apart of this arrangement, what this means is that I am able to move in if I wanted to.The issue we had with CBA was that…[Read more]

]]> 1c5e35d19dbdb9cb14ab3efc849bf2be binscab replied to the topic Changing Trustees and Commercial Lending in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400182-changing-trustees-and-commercial-lending/page/2/#post-4625716 Fri, 11 Jun 2010 02:01:16 +0000 Based on the information we gave tem they said yes.. they are just waiting on me to send thruogh the trust deeds etc.I am waiting on the lawyers to get these to me.<br /:)” title=”>:)” class=”bbcode_smiley” />

]]> 2cdae408f459aea508ae0c70a236a93c binscab replied to the topic Changing Trustees and Commercial Lending in the forum Looks like we might be going https://www.propertyinvesting.com/topic/4400182-changing-trustees-and-commercial-lending/page/2/#post-4625714 Fri, 11 Jun 2010 01:37:57 +0000 Looks like we might be going with the economiser! Banker you are a genius!Because 2 companies trustees are borrowing the money we will have to have 2 packages, because each of these is less thatn $150,000.00 we don't qualify for the Wealth Package. So the Economiser is the way to go and we willg et the $600 waived.Update: Looks like we are going…[Read more]

]]> 2583fe5383f3c7b08c79cb7d8e2c2e7e binscab replied to the topic Changing Trustees and Commercial Lending in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400182-changing-trustees-and-commercial-lending/page/2/#post-4625713 Fri, 11 Jun 2010 01:16:43 +0000 Hi Banker Excellent points you have raised. I have heard back from the financer.The fees are as follows:Trust Investigation Fee $192.50 per trustGuarantee Fee $200 per borrower$150 Settlement Attendance Fee$234 Mortgage registration ChargeWe will need a seperate fee for each wealth packageI'm just finding out which ones can be waived. Will let you…[Read more]

]]> 110bd08c91e9512f54ee74bfedc3071a binscab replied to the topic Changing Trustees and Commercial Lending in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400182-changing-trustees-and-commercial-lending/page/2/#post-4625712 Fri, 11 Jun 2010 00:56:39 +0000 Thanks Banker will do!My partners sister said she will try wave whatever fees she can also.I can't believe CBA is the only big bank who will lend to a corporate trustee… the rates are also quite competitive.

]]> 5ae286175ada72c272721f9b1f4e1351 binscab replied to the topic Changing Trustees and Commercial Lending in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400182-changing-trustees-and-commercial-lending/page/2/#post-4625710 Thu, 10 Jun 2010 04:48:07 +0000 Hey guys, giving you an update as promised.Spoke to the mobile lender from CBA.Asked about the Economiser and the Wealth package.My partner is on the wealth package at the moment so apparently if we group this loan with his we satisfy the criteria for a higher discount? This works out to be cheaper for us.I have asked him about the fees for…[Read more]

]]> 5d543d7e1264c5a4fb884ec36af6e0a2 binscab replied to the topic Depreciating furniture and equipment in the forum He hasn't depreciated https://www.propertyinvesting.com/topic/4400185-depreciating-furniture-and-equipment/#post-4625723 Wed, 09 Jun 2010 12:09:43 +0000 He hasn't depreciated anything at all including building allowance.Cheers

]]> 05be69d4c8a1176e2eb88ffd966a1f50 binscab replied to the topic Changing Trustees and Commercial Lending in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400182-changing-trustees-and-commercial-lending/#post-4625705 Wed, 09 Jun 2010 02:22:49 +0000 Cheers Banker.Will do!!

]]> dd3f01f31e654069efe653ab71c60633 binscab replied to the topic Changing Trustees and Commercial Lending in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400182-changing-trustees-and-commercial-lending/#post-4625702 Wed, 09 Jun 2010 02:04:06 +0000 Cheers Banker!My business partners sister works at CBA and she has organised a lender to come out tomorrow to us.If I find he is 'vanilla (hehe I like this term)' I will send you through a message!On the website it's saying that there is no upfront establishment fee or loan service fee. The only fee it brings up is the annual fee of $350 like y…[Read more]

]]> 022beddfbf287703462c14020da82197 binscab replied to the topic Changing Trustees and Commercial Lending in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400182-changing-trustees-and-commercial-lending/#post-4625699 Wed, 09 Jun 2010 01:47:07 +0000 Thanks for all your help guys!This has saved me HEAPS.

]]> c08b548600f41f4ed26dcd55764bd9b7 binscab replied to the topic Changing Trustees and Commercial Lending in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400182-changing-trustees-and-commercial-lending/#post-4625697 Wed, 09 Jun 2010 01:39:25 +0000 I just heard back from CBA they said yes!Hoora!Bad thing is their wealth package is only 0.5% discount oh well it is worth 0.2% sacrifice!

]]> d9e1d6cfaaccc1603a5c4a3b7d45c954 binscab replied to the topic Changing Trustees and Commercial Lending in the forum I've just shot a query https://www.propertyinvesting.com/topic/4400182-changing-trustees-and-commercial-lending/#post-4625696 Wed, 09 Jun 2010 01:33:57 +0000 I've just shot a query through to them, waiting an answer now.Gosh they are really making it hard to hold property in the company trustee structure aren't they?

]]> aecd417e630e309481436577250c9ac0 binscab replied to the topic Changing Trustees and Commercial Lending in the forum Thanks for your help https://www.propertyinvesting.com/topic/4400182-changing-trustees-and-commercial-lending/#post-4625694 Wed, 09 Jun 2010 01:17:23 +0000 Thanks for your help guys.The main reason for me wantign to stick with ANZ is because of the 0.7% below market rate they offer on variable loans.I will ask CBA if they will lend to a corporate trustee using retail loans.ThanksAndrew

]]> b6b0dbba835e05849165a07b7a1b9857 binscab replied to the topic Changing Trustees and Commercial Lending in the forum Thanks Terry. I was advised https://www.propertyinvesting.com/topic/4400182-changing-trustees-and-commercial-lending/#post-4625691 Wed, 09 Jun 2010 01:08:01 +0000 Thanks Terry.I was advised by the financer that having a corporate trustee will get caught under commercial lending.Are there large banks who will lend to a corporate trustee at individual mortgage rates?If not then I will have to rethink my strategy about how to set this up!Thanks for all your help.Scab

]]> 70f89b229e73771df9d472e524b988f2 binscab replied to the topic Changing Trustees and Commercial Lending in the forum Thanks Terry, I will speak https://www.propertyinvesting.com/topic/4400182-changing-trustees-and-commercial-lending/#post-4625689 Wed, 09 Jun 2010 00:59:03 +0000 Thanks Terry, I will speak to a lawyer regarding this.I'm located in South Australia.I've never changed title deeds before, will this cause a headache if I decide to go through with this?It is the only way I can think of to hold the property in a trust with a corporate trustee as the other avenues I have covered are:       Me borrowing the money…[Read more]

]]> 496ac3ec4c48fdcf2f3d30cdb8662d51 binscab replied to the topic Need a GOOD tax accountant with IP experience in Adelaide SA in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400110-need-a-good-tax-accountant-with-ip-experience-in-adelaide-sa/#post-4625374 Wed, 02 Jun 2010 05:02:19 +0000 Check your inbox.CheersBinscab

]]> 605388885b4ebddaa1bbdcd35a74683d binscab replied to the topic discretionary familoy trust to buy property before paying income tax? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400006-discretionary-familoy-trust-to-buy-property-before-paying-income-tax-2/#post-4624804 Thu, 27 May 2010 01:40:53 +0000 Hi Benm84Yes you can lend money back from a company to the trust but like I said earlier there will be consequences in doing so.Your best bet is going to your accountant with this situation and specifically ask him what are the Div7a and Subdivision EA consequences of lending distributions from the trust to the company back to the trust.You will…[Read more]

]]> c06bbf5e75d166df20538155d1341280 binscab replied to the topic Building Allowance 2.5% on apartment in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400036-building-allowance-2-5-on-apartment/#post-4624934 Wed, 26 May 2010 05:35:21 +0000 I thoguth a Q/S only does the furniture and fittings + other Plant and equipment?I have asked if they can allocate some value to the furniture and fittings of the apartment per Steve McKnights book.Thanks for all your help guys!

]]> aa96391c318953f2a9ca5188626244d6 binscab replied to the topic discretionary familoy trust to buy property before paying income tax? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400006-discretionary-familoy-trust-to-buy-property-before-paying-income-tax-2/#post-4624802 Wed, 26 May 2010 05:33:14 +0000 Hi BankerYes this was the case previously.However in the eyes of the ATO, a Trust which has distributed money to a Company but the money maintains in the Trust is seen as a Unpaid Beneficiary Entitlement. Previously, this would have only caused an issue if a beneficiary other than the company (say an individual) owed money to the Trust – this…[Read more]

]]> 6c0b5b4cb440ed52523e81b95287e5b9 binscab replied to the topic discretionary familoy trust to buy property before paying income tax? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400006-discretionary-familoy-trust-to-buy-property-before-paying-income-tax-2/#post-4624800 Tue, 25 May 2010 07:35:55 +0000 Terryw wrote:
Trustees are assessed at the top rate on undistributed income, i beleive. If might be better to distribute it to a company which then lends it back to the trust.

Fantastic ideas from Terry as always.However with the new laws coming in if you lend money from a Company to a Trust  that is seen as a Div7a loan which means you have…[Read more]

]]> 18236ef897d7eb5b33dfc3681996f995 binscab replied to the topic Borrowing in an entity and Commercial rates. in the forum Finance https://www.propertyinvesting.com/topic/4399861-borrowing-in-an-entity-and-commercial-rates/#post-4624060 Wed, 12 May 2010 02:06:57 +0000 "I also want the loan to be in the name of the entity, this way I can borrow more in the future in the another entity (according to Steve's book)"Ignore that bit! I just did a search and seems like the consensus is that it's a myth.If that's the case, should I just borrow the money in our personal names and have the property in the…

]]> 907e4add5e6762712615882214f8ab47 binscab replied to the topic Borrowing in an entity and Commercial rates. in the forum binscab wrote:I also want https://www.propertyinvesting.com/topic/4399861-borrowing-in-an-entity-and-commercial-rates/#post-4624059 Wed, 12 May 2010 02:01:13 +0000 binscab wrote:
I also want the loan to be in the name of the entity, this way I can borrow more in the future in the another entity (according to Steve's book)

Ignore that bit, I just did a search and seems like it's a myth.If this is the case, then would it just be much simpler to write the loan in our personal names but purchase the property…[Read more]

]]> 6e7dc599ee9693a0c7db4ca4a58bc93e binscab replied to the topic Using equity to build IP... in the forum Help Needed! https://www.propertyinvesting.com/topic/4399558-using-equity-to-build-ip/#post-4622341 Tue, 20 Apr 2010 07:26:39 +0000 Stera wrote:
The slight hurdle at this stage will be financing the project over the 12-15 months of construction and the related taxes.I am completely green (  Learners hat again)! and would appreicaite any feedback or suggestions.My understanding of the biggest hit is CGT, but my understanding is that if you hold the property for 12 months…[Read more]

]]> b7e49cc72f751a4028aef5519810706c binscab replied to the topic Paying of a mortgage HELP! in the forum Help Needed! https://www.propertyinvesting.com/topic/4399515-paying-of-a-mortgage-help/#post-4622091 Wed, 14 Apr 2010 06:55:27 +0000 If you are renting out the property you can claim expenses associated with renting it out such as 1. interest paid2. Water rates3. Council rates4. On top of this you can claim 'depreciation' on assets in your rental property (pretty much everything which has a useful purpose on its own can be depreciated) such as the fridge, hot water system…[Read more]

]]> f125286c52c422275b38061f177b7bef binscab replied to the topic Im about to start buying my investment properties for retirement, i need advice please in the forum siraitken wrote:AndrewH https://www.propertyinvesting.com/topic/4399449-im-about-to-start-buying-my-investment-properties-for-retirement-i-need-advice-please/page/2/#post-4621549 Sun, 11 Apr 2010 12:28:36 +0000 siraitken wrote:

AndrewH wrote:
meh…

Meh… What?Meh you can't be bothered reasearching?Meh it is too hard?If this is the case then you don't deserve 10% returns let alone a cash flow positive property.Dave

Another poster 'shoutfromtherooftops' or something along those lines was posting some abuse and I think 'meh' was his reply, after…[Read more]

]]> 13e78daf8d71ae3086929d9142813ffb binscab replied to the topic Newish to this - Am I over extending myself? in the forum Help Needed! https://www.propertyinvesting.com/topic/4399442-newish-to-this-am-i-over-extending-myself/#post-4621508 Sat, 10 Apr 2010 07:41:32 +0000 Hey MattThanks for the heads up!Am looking forward to learning as much as I can from these forums!CheersBinscab

]]> e7e991bfe44c2a85db0b55b4cfc6c5a2 binscab replied to the topic Newish to this - Am I over extending myself? in the forum Help Needed! https://www.propertyinvesting.com/topic/4399442-newish-to-this-am-i-over-extending-myself/#post-4621506 Sat, 10 Apr 2010 01:26:18 +0000 Am I missing something?

]]> 74e2b609a6d72633c1dad370d65896af binscab replied to the topic What are the CGT implications for this scenario? in the forum Help Needed! https://www.propertyinvesting.com/topic/4399443-what-are-the-cgt-implications-for-this-scenario/#post-4621515 Fri, 09 Apr 2010 05:39:52 +0000 Oops sorry – I got a bit confused.It depends on who has the option (i.e. if it's a call or a put)

]]> 4f8f08d21369e5acce9ba9c9fe74b28b binscab replied to the topic What are the CGT implications for this scenario? in the forum Help Needed! https://www.propertyinvesting.com/topic/4399443-what-are-the-cgt-implications-for-this-scenario/#post-4621514 Fri, 09 Apr 2010 05:30:16 +0000 Don't forget though if you enter a contract with a option to buy in 8 years for well below market – fair enough the parents will not need to pay any CGT due to the arms length transaction vs market value rull.But you've technically made a gain on excercising your option, the gain being the difference between the price you pay and the market value…[Read more]

]]> 46c777e9367a09e85b4a03d219440988 binscab replied to the topic Newish to this - Am I over extending myself? in the forum Help Needed! https://www.propertyinvesting.com/topic/4399442-newish-to-this-am-i-over-extending-myself/#post-4621505 Thu, 08 Apr 2010 23:35:43 +0000 Thanks DDI will analyse my options, the main factor of why I need to go in with a partner is pretty much because the banks won't give me much more money.I guess what I ultimately want is a positive cashflow property. Would you be able to elaborate on "510income /475 cost means its about 5.2% return. This in itself would deter me from doing it as…[Read more]

]]> f336683a738695877a486ca3a0fa1570 binscab replied to the topic What are the CGT implications for this scenario? in the forum Help Needed! https://www.propertyinvesting.com/topic/4399443-what-are-the-cgt-implications-for-this-scenario/#post-4621509 Thu, 08 Apr 2010 11:42:07 +0000 I did not know once you retire you can sell assets CGT free – from the sounds of it, you've done the research and have determined that retirees can do this.If this is the case if your friend keeps those payments up but put it as 'rent' on paper and buys the property for $275,000.00 in 8 years time, it would be CGT free. However, if this is not…[Read more]

]]> 24b8a0e16c79aacadb4df3f2fbff8c4a binscab replied to the topic Newish to this - Am I over extending myself? in the forum Help Needed! https://www.propertyinvesting.com/topic/4399442-newish-to-this-am-i-over-extending-myself/#post-4621503 Thu, 08 Apr 2010 11:22:12 +0000 Extra things I forgot to mention:I don't have a offset account (I have no idea why!)Currently paying interest onlyI have $0 savings, all profits go to offsetting the mortgage hence buying the new place would mean I am using equity on my home.I am currently renting my place out under the 6 year main res exemption rule so I can claim the interest…[Read more]

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