Total Members: 150,717

Brenda Irwin

  • Originally posted by crashy:
    thats fine with me, in 10yrs time the house I bought will be on the water front!
    I have often wondered about this. If you had your house on reinforced stilts, like a jetty, and the sea claimed all the land, you would have a house IN the water front, right?
    How would the state gov’t levy land tax? The house is no longer…[Read more]

  • I think Steve is pretty gutsy if he has sold all at once. Just think of the CGT bill. [wacko]

    I myself have been selling a couple of the lesser quality IP’s for a few years now, and using the profits to pay down debt on the better IP’s.

    I will be selling just a couple more to really condense and purify my portfolio in preparation for investing…[Read more]

  • Originally posted by NATS12:
    The people who I know that are doing it tough are still living in their own place (that thebank owns 95% of), buying new furniture on interest free and considering whether dimmers on their downlights are the right way to go!!!

    The interpretation of doing it tough these days has changed.

    There are a lot of people…[Read more]

  • Broadband is loads better as I can discuss realestate properties on the landline phone whilst looking at the pics on the internet. I can also use googleearth and my se regional plan on to quickly find the boundaries of the properties. On the googleearth site, note also the sea levels are displayed so you can tell if the ip is in…[Read more]

  • Cashflow positive means money flows into your pocket as a net income, regardless of interest payments or tax deductions.

    This is where hubby and I differ. He says principle repayments should not be included as they are a capital expense.

    I think that if you lost your job income, principle repayments would still have to flow out of your pocket…[Read more]

  • I also use an excel spreadsheet. I have composed it from the previous years tax return from the accountant. You know, the long version they print out for you to check all the entrees before you sign as correct and they lodge it for you.
    On this speadsheet, I have put in all the formulas and tax rates with provision for cgt if I have sold anything.…[Read more]

  • I am currently selling some IP’s and paying out the debts on the better ones. Maintenance is getting under control. Not in a hurry, just a couple sold each financial year and take the capital gains. Am watching the market which doesn’t have a lot of desperate sellers, yet. Too many buyers around but good though if I’m selling. :)
    My personal banker…[Read more]

  • What a good find, congratulations. For the tenants sakes, do not leave it until their leases are up to notify them that rents and renos are on the agenda. Formally notify them of your intentions asap so they have lots of time to get used to the idea, and make future plans of their own.
    Cheers Brenda.[biggrin]

    If you want to get out of a hole,…[Read more]

  • After the unimproved land values went through the roof on our properties, I thought our jointly Qld owned IP’s would be up for a total of $6k in land tax.

    Then the gov’t changed the threshold and I thought we’d be up for only $2000 in land tax. So I rang the land tax office to make sure they had our PPOR details correct so it would be exempt. The…[Read more]

  • I actually had an occurrance whereby one of my tenants was arrested. Prior to the nab, he had tried to get out of the lease with the excuse that there wasn’t enough car accomodation. With a double lockup garage and also a double carport with a lockable door to block front access, my PM dismissed it as a ludicrous excuse. Shortly thereafter he was…[Read more]

  • Try your solicitor and tax accountant. Prospective workers should do likewise. There must be ways around all the red tape as how would all the grandads out on the farms ever do without the help from the grandkids on holidays?

    If you want to get out of a hole, first stop digging.

  • A: Because eventually you will receive a letter telling you that you have reached the limit of borrowing. Not your limit, theirs.

    Q:Should a tenant be around, windging and complaining about the house when prospective buyers are looking it over. How do you get rid of them, the tenants, for a few minutes?

    If you want to get out of a hole, first…[Read more]

  • I too am concerned at my risk exposure in the future property market. Something has to give to chill the market. I don’t know what, but I have a feeling that if my LVR and serviceability are ordinary, then I won’t like it.

    For myself, I have been selling off the mould and keeping the gold. Meaning I sell the problem properties, be they…[Read more]

  • I agree, having untaxdeductable debt on your PPOR is a killer. It was the hardest thing I ever did when I bought my own home. ASAP I sold one of the IP’s during the boom and payed off my home’s debt. Gee, it really made a difference to my cashflow, and I was able then to go forth and buy more IP’s. The feeling of actually owning your own home, is…[Read more]

  • Originally posted by Dimmick:
    We have been told that you should spread your loans out with several banks so it is harder for them to sell your properties if anything went wrong.

    We are unsure what to do as we have two loans with Westpac and a third pending. We were going to go with another lender but will have to pay mortgage insurance but if we…[Read more]

  • Originally posted by Dougiejg:
    Hi all.
    First post. Excitement. Yay.
    I am a carpenter and I want to start doing some basic renos. I will probably try to sell quickly for the first few to build up capital. I will also probly be looking at lower end properties to start with.
    My question(s)are:
    What sort of market conditions should I look for when…[Read more]

  • Originally posted by Marvin:
    UNBELIEVABLE!!! Can’t believe I missed it.. it was today…

    *Mad at oneself*

    Anyone care to share some juicy tidbits for your fellow forum goers when you return tonight?

    ~Marvin from Toowoomba (QLD)

    “Knowing is not enough, we must apply. Willing is not enough, we must do.” ~Bruce Lee

    Oh Boy, you missed a terrific…[Read more]

  • I have Standard Schnauzers. Oldest is ‘Tina’ short for Martina. Next is ‘Ruby’, short for Bayvista Just A Gem. Then there is Kissy, short for ‘Kzmiferilidlbut’ (say it slow and you will get it[biggrin]). Next is ‘Megen’, short for Schmiegen (German for cuddle). Then there is Nitro which is his full name unless you want the full Australian Champion…[Read more]

  • I have a mature olive tree in my garden in SE Qld. Fruiting seems to be, a great season followed by a season of no olives at all. Has been fairly dry here for some time, although the tree itself seems to be healthy enough.

    The fruit tastes absolutey discusting straight from the tree. I mean, really, really bad.

    Is there some Italian recipe to…[Read more]

  • If you are really planning to make the move to Redcliffe (once termed Deadcliffe), then occupy yourselves with that.

    Everything is a stepbystep and you need to take one thing at a time. Is it possible for one of you to have, even a part time job starting in Redcliffe or Brisvegas? Doesn’t have to be the same stressfilled work you are at…[Read more]

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Brenda Irwin

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