Total Members: 158,056

blackhotel

  • blackhotel started the topic Mortgage Broker Fees in the forum Finance 9 years ago

    Hi,
    Just wondering about my mortgage broker asking for a fee to be paid. I sat with him for a few hours sorting out a very complex set of circumstances. I have now rec’d copies of all the forms that we talked about for signing. But at this time I have received an invoice from him if I want to proceed with the application process. Is this normal?

  • Just in interest about this, do you rec an income from o/s source?

    The reason I ask is that I was told that if you do not bring the income into Australia, then u don’t pay taxes in Australia. True or not?

  • blackhotel replied to the topic What would you do with an inheritance? in the forum Help Needed! 9 years, 2 months ago

    Just food for thought – My friend got a large inheritance and paid off her PPOR. However, now separated she is going to lose this $$$ upon the sale of the home (50/50 split). I would make sure you have an agreement with your husband first before paying off PPOR. Also, lawyer told her it would’ve been better for my friend to buy a property in her…[Read more]

  • blackhotel replied to the topic structuring assets in the forum Help Needed! 9 years, 3 months ago

    Thanks Terryw
    Just to clarify as I like to read things in simple terminology, I don’t get what you mean by ‘may not be an issue as company tax is 30% and CGT a max of 24% so just a 6% difference’.

    I’m trying to get my head around the meaning of the statement.

    Simple terminology is – If I have a profit of $1,000,000, GCT would be $300,000. Are…[Read more]

  • blackhotel replied to the topic structuring assets in the forum Help Needed! 9 years, 3 months ago

    If I had my time again I wouldn’t of made all the mistakes of listening to my accountant 20 years ago.

    DON”T put into a Company name. You do not get 50% CGT deduction. A real killer when u want to sell a property 20 years later and you have a profit of say $1,000,000 (this can happen if u invest in property long term). Guess what —- you pay…[Read more]

  • blackhotel replied to the topic Seeking your Advice in the forum Help Needed! 9 years, 3 months ago

    I’m no accountant or financial adviser, but who would like to be paying $48K to Mr Abbott. I could go on a round the world cruise 1st class with that. Mate I would tell him to buy a few good waterfront and/or beachfront properties in the Eastern Suburbs of Sydney like Coogee, Maroubra, Clovelly sort of places, blue chip locations. Must have…[Read more]

  • blackhotel replied to the topic From High School Dropout to 300+ Real Estate Deals in the forum Overseas Deals 9 years, 3 months ago

    Cheers for that. I will definitely call you. Just one thing I will say so the forum can read is the biggest difference in USA compared to Oz is there is no “tall poppy” in the USA. I drove a nice car in OZ and people would come up to me and say “you must be ripping someone off” and even spit on my car. In America I also a drive a nice car (SO…[Read more]

  • blackhotel replied to the topic From High School Dropout to 300+ Real Estate Deals in the forum Overseas Deals 9 years, 3 months ago

    Actually after hearing your podcast I have got off my backside and rang the Mortgage broker to get to work on getting me some more money. Thanks for the boot up the ass Engelo. I haven’t done anymore buying since 2010. I travel to LA & San Francisco every year as I love the USA. I have an investment property in Pac Heights. I admire what your…[Read more]

  • blackhotel replied to the topic US Mailing Address in the forum Overseas Deals 9 years, 3 months ago

    I use a Postal Box service in San Francisco, $375 per year plus costs of her forwarding my mail to Oz, contact is; postbox1592@gmail.com
    They accept Credit Card or I just send them a Check each year from my BOA checking account.

  • blackhotel replied to the topic Buying property in the US in the forum Overseas Deals 10 years, 5 months ago

    I own a condo in Pacific Heights San Francisco. I've owned it since 9/11. I do not use an Agent to find my tenants or manage it. I use Craig's List. At the start I was renting it for $1500-$1800 p/m, incl utilities, but in the past 18 mths I'm now renting it for $3,000 p/m + utilities. it's now plus, plus cash-flow for me. I have tenants every 12…[Read more]

  • No, trusts etc have been set-up years ago. I am very very fussy with providing records to accountant. As mentioned before everything is given to accountant via MYOB all reconciled for all accounts.

  • Accountant based in Brisbane

  • blackhotel replied to the topic 6 year rule and CGT – vacant property enough? in the forum Help Needed! 11 years, 7 months ago

    LC, Good intention is what my partner had when she decided to move back into her home in Melb, but 4 weeks later she did'nt like living in Melb and the weather sux's so with all good intentions she decided to move back to QLD. It's simply a LOOP HOLE that our  accountant advised that we CAN do as long as we could prove she moved-in. I cannot see…[Read more]

  • blackhotel replied to the topic 6 year rule and CGT – vacant property enough? in the forum Yes agree, hence why we had 11 years, 7 months ago

    Yes agree, hence why we had a friend go by everday and run the heater etc for a while each day.

  • blackhotel replied to the topic 6 year rule and CGT – vacant property enough? in the forum My partner does not work, 11 years, 7 months ago

    My partner does not work, she is a housewife, however, it does not matter where you work. people work in all different states and have a PPOR wherever they want all over the world. Remember you are allowed to have 1 x PPOR where you can come and go whenever as you please. As long as you can prove you moved-in, hence electricity/gas bill, all id's…[Read more]

  • blackhotel replied to the topic 6 year rule and CGT – vacant property enough? in the forum Help Needed! 11 years, 7 months ago

    We just did this, we kicked out the tenants (did'nt renew the lease). On the advice of our accountant upon the 6 years of owning a property in Melb, my partner (was her PPOR when purchased) moved back in for 4 weeks. But she did not actually physically move back in. This is VERY important. YOU MUST BE ABLE TO PROVE THAT YOU MOVED IN. To do this…[Read more]

  • blackhotel replied to the topic CGT – how in the forum Help Needed! 11 years, 10 months ago

    mmmm, hang on. If you live in a property for more than 12 months you simply comply with the requirements set by the ATO, your entitled to CGT free. You can do this (buy & sell) for the rest of your life CGT free as long as you live in the property for a min of 12 months. GST is applicable to Commercial/industrial property when you sell, not re…[Read more]

  • blackhotel replied to the topic Good insurance cover in the forum Help Needed! 13 years, 4 months ago

    I have one house that is insured through EBM and the rest are with Suncorp as those properties are in QLD. With insurance for a (house) rental property, I don't take-up contents insurance as the place is not furnished. It's a question I put to my insurer last year and asked what does the contents include and it was more if the property was f…[Read more]

  • blackhotel replied to the topic Handyman & Property Manager needed in Flemington Vic area in the forum Help Needed! 13 years, 5 months ago

    Thanks for that, I'll give them a try.

  • blackhotel replied to the topic fds in the forum Help Needed! 13 years, 9 months ago

    Look up your lease. It should be stated in the lease as a special condition. Remember If your the owner going to do the work, your agent must give proper notice of entry to enter the property, even if it's just outside in the garden or you could get yourself into strife.

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