Total Members: 158,056

blackhotel

  • blackhotel replied to the topic US property investing journey in the forum Overseas Deals 4 years, 3 months ago

    I purchased a property in San Francisco in 2001 when the dollar was AUD$53cents. The property has grown 150%. I manage it myself. US properties have no stamp duties when you buy but have annual property taxes u need to pay which can be a burden. Problem with purchasing in US is you need to follow the Aussie dollar closely because if AUD goes up…[Read more]

  • blackhotel replied to the topic Buying a Block of Units (advice) in the forum Help Needed! 5 years, 2 months ago

    Land Tax = Rip-off tax.

  • blackhotel replied to the topic NSW Suburbs – Investing in the forum General Property 5 years, 2 months ago

    If your planning to be a multiple property purchaser look out for the dreaded Land Tax in Qld – absolutely ruthless! I’m deciding to sell because of it.

  • blackhotel replied to the topic open mortgage in the forum Finance 5 years, 8 months ago

    Just out of interest, how does an IP get exempt from CGT if it’s been an IP for less than 6 years? An IP property is never exempt from CGT unless it was your actual home.

  • blackhotel replied to the topic selling at purchase price in the forum Legal & Accounting 6 years ago

    Mate, you can sell for whatever price you want. I know NSW is known as the nanny state but this is ridiculous. There are no laws/requirements to sell at a certain price. Sometimes people sell for allot less than the purchase price. It’s called ‘a loss’.

  • blackhotel replied to the topic investing in gold coast in the forum Help Needed! 6 years, 3 months ago

    When I purchased my 1st house back in 2008, I remember the agent telling me the last time it boomed on the GC, properties were going up $50K p/month and he found it difficult to price his listings. I asked him why it boomed and his reply “I don’t know”! There’s no reason why GC should not be booming right now. If you sold your home in Sydney now…[Read more]

  • blackhotel replied to the topic investing in gold coast in the forum Help Needed! 6 years, 3 months ago

    5% – 6%

  • blackhotel replied to the topic investing in gold coast in the forum Help Needed! 6 years, 3 months ago

    I purchased 3 x houses in 2008, 2009 & 2010 on the Gold Coast (Ashmore). Yes great rental return but absolute crapppppppppp growth. 3 most important things in real estate investing;
    1. Location,
    2. Location,
    3. Location.
    The Gold Coast is none of these!

    My properties have grown less than 10% in 7-9 years.

  • blackhotel replied to the topic On-Selling for cash… in the forum General Property 6 years, 3 months ago

    I’m one of these buyers. I was a buyer of a unit in NSW that was previously sold off-the-plan and then on-sold to me with an amount of cash given to the seller, as you say ‘under the counter’. Just because someone is paying in cash it’s up to the seller to declare this cash and maybe they do. The seller I dealt with was a business man and he…[Read more]

  • blackhotel replied to the topic Home Loan v Investment Loan in the forum Finance 6 years, 5 months ago

    I currently have 6 home loans that I live in with 6 different banks. I’m not lining the pockets of those friggin banks, they make enough money from me thank you!

  • blackhotel replied to the topic Land Dispute with Developer in the forum Help Needed! 6 years, 11 months ago

    Sell back to the developer and move on. You will always have water problems in the future being on the wrong/lower side of the street. If you try to sell it now, you probably have lost more $$.

  • blackhotel started the topic Commercial Vs Unit Block (residential) in the forum Commercial Property 6 years, 11 months ago

    Hi All,
    I have just sold a commercial property unexpectedly to my tenant who made an offer that blew me away. The property is owned outright in my SMSF. I’m looking to purchase another property which will give me a better return as I have another 8yrs before I can access my superfund. I started to look at residential blocks of say 6 units+ which…[Read more]

  • blackhotel replied to the topic Changing to fixed rate mortgage. in the forum Finance 6 years, 11 months ago

    Fixed rates – the banks always win! They know more than you before you are even told about it!

  • Who forgets to pay 2 years of levies – porky’s! Amnesia is not a good defence.

  • blackhotel replied to the topic Serviceability Woes! in the forum Finance 6 years, 11 months ago

    Same thing happened to me when I tried to refi, except my wife & I happened to break-up before I put the application in. She moved in with her mother. And guess what after the refi was completed we magically got back together – go figure!!!! Beat them to there own stupidity.

  • blackhotel replied to the topic Validation on Costing for Property Flip (QLD) in the forum Help Needed! 6 years, 12 months ago

    The funniest post ever. 2.12% return. I just have to laugh Greg – in a polite way.
    My response:
    Your dreamin,
    Your 1st problem is Brisbane,
    Your 2nd problem is Property Purchase price of $220K – your dreamin!
    Your 3rd Problem is Property investing in Oz is a long term investment if you want to make $$$. Even if you make some profit the ATO will…[Read more]

  • blackhotel replied to the topic New bank regulations on I O loans and property portfolio investors. in the forum Finance 6 years, 12 months ago

    Hi Pollyanna,
    You bring up some very important points to novice investors. I am a long term Property Investor (30yrs) and the advice given on IO loans is daunting at this time, however 20yrs ago it was a standard thing to do and without a thought.

    Something that is being pushed by so many lately is this Cash flow positive properties vs capital…[Read more]

  • blackhotel replied to the topic property ownership in the case of a divorce in the forum Legal & Accounting 7 years, 2 months ago

    Property- divorce = trouble. I have been through a divorce and a break-up (defacto relationships). It is an absolute nightmare when you own multiple properties. I had properties in my own name, Company, trusts including discretionary & Unit trusts and SMSF. It does not matter in the least who’s name they are in and/or who owns what. Literally…[Read more]

  • blackhotel replied to the topic Christmas gifts to tenants? in the forum Help Needed! 7 years, 3 months ago

    Too personal, keep relationship professional. Maybe send a Christmas card. No matter how good a landlord is, it always falls apart at the end if something goes wrong with the bond claim – ALWAYS!

  • blackhotel replied to the topic Insulation in commercial property – who pays..? in the forum Commercial Property 7 years, 8 months ago

    That’s funny all my commercial leases have CPI too, but minimum 3%. Strange your lawyer did not stipulate this in the lease.

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