PropertyInvesting.com | bumskins | Activity https://www.propertyinvesting.com/members/bumskins/activity/ Activity feed for bumskins. Tue, 14 Apr 2026 14:59:43 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 b6d2c503b26df5c59a72d328ac130d1d bumskins replied to the topic New Data...As Promised! All Utilities Paid vs Tenant Paid Utilities! It's Working! in the forum Overseas Deals https://www.propertyinvesting.com/topic/4405088-new-data-as-promised-all-utilities-paid-vs-tenant-paid-utilities-its-working/#post-4658267 Fri, 18 May 2012 13:12:17 +0000 thecrest wrote:
Hi John.
That’s a very clever strategy.
It converts personal living expenses the tenant can’t claim on tax,
into expenses the landlord can claim.

Can someone familiar with Australian Tax Laws tell us if
there are any FBT implications in supplying “free” utilities to a tenant ?

What else can the landlord supply for the same…[Read more]

]]> a965afc302118cbd64efef3509fbba67 bumskins replied to the topic QLD mining regions (Bowen & Surat Basins & Gladstone): Willing to help anyone with questions in the forum Help Needed! https://www.propertyinvesting.com/topic/4404256-qld-mining-regions-bowen-surat-basins-gladstone-willing-to-help-anyone-with-questions/page/15/#post-4652283 Fri, 11 May 2012 04:20:55 +0000 I think its inevitable that a substantial number of projects will be scaled back with some being cancelled/postponed until the fundamentals correct themselves.

We have seen softening commodity prices, with blowouts in capital expenditure from when projects were first planned.

People talk about a lot of the projects as certainties, when most…[Read more]

]]> b3cfb89ac8c010e378f1a1c32a54bd38 bumskins replied to the topic Are Investment Groups to Blame from Moranbah Madness? in the forum Opinionated! https://www.propertyinvesting.com/topic/4406312-are-investment-groups-to-blame-from-moranbah-madness/#post-4667499 Sat, 14 Apr 2012 03:26:14 +0000 Given the level of risk, I don’t believe investment groups have any place in mining towns.

Too add to this I also believe by the time investment groups get around to focusing on these kind of hot spots its already too late. The first round of investors are usually just selling into the new pent up demand. They just create the demand that allows…[Read more]

]]> f59aab068fe9480e2740420930c75265 bumskins replied to the topic Whats better better: House or Apartment ? in the forum Opinionated! https://www.propertyinvesting.com/topic/4404651-whats-better-better-house-or-apartment/#post-4655348 Sat, 07 Apr 2012 03:57:29 +0000 I think when you add up the time and travel costs of multiple family members, living further out can be a false economy anyway (especially as they are always increasing), your also generally further away from services too. I think with the high uptake of foreigners and younger generations, many are used to/have resolved to living in higher…[Read more]

]]> 7b44cae600fc21076345ec73f34504c8 bumskins replied to the topic Property bust not here yet ... worse to come in the forum fWord wrote: simple https://www.propertyinvesting.com/topic/4385726-property-bust-not-here-yet-worse-to-come/page/43/#post-4549268 Mon, 06 Feb 2012 02:14:39 +0000 fWord wrote:

simple wrote:
Let's see if trend continue: http://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/6416.0Main+Features1Dec%202011?OpenDocument

-6.1% for Melbourne from Dec 2010 – Dec 2011. That's not so bad. I lost more money in shares!

Depends really.

There is a lot leverage in property.

So if you looked at say $100,000 invested in…[Read more]

]]> 197af3a26c1d7d9918c1d918e0b46700 bumskins replied to the topic Strata report issue - Should I buy this investment property - advice please? in the forum Help Needed! https://www.propertyinvesting.com/topic/4405705-strata-report-issue-should-i-buy-this-investment-property-advice-please/#post-4662591 Thu, 26 Jan 2012 08:02:09 +0000 It's not really just a question of cost, but the stigma which will now be attached to the building. This will likely mean future buyers being turned off. It could also affect future valuation's which could affect future purchases getting finance to buy your property.If there was a purchase for $650K last October, why are you offering $670K now?…[Read more]

]]> 21342724f79f5e8045106504630f6c84 bumskins replied to the topic Finance Advice & FHB Considerations for a New Investor in the forum Help Needed! https://www.propertyinvesting.com/topic/4405464-finance-advice-fhb-considerations-for-a-new-investor/#post-4660858 Tue, 27 Dec 2011 01:09:17 +0000 Insurance and depreciation.

]]> 4960e1a1dcd268cd84a0dd6f44e173d3 bumskins replied to the topic Finance Advice & FHB Considerations for a New Investor in the forum Help Needed! https://www.propertyinvesting.com/topic/4405464-finance-advice-fhb-considerations-for-a-new-investor/#post-4660849 Fri, 23 Dec 2011 19:29:54 +0000 http://www.ato.gov.au/corporate/content.aspx?doc=/content/86191.htm6 Year rule maybe?So if you lived in the property to start with yourself, you can then declare it a ppor which makes it Capital Gains tax exempt for upto 6 years from moving out, while still allowing you to claim all the normal deductions for a rental property for the period in whi…[Read more]

]]> 964c64cca5ebc42e9705280be28458d3 bumskins replied to the topic Asking a question on behalf of the inlaws in the forum Help Needed! https://www.propertyinvesting.com/topic/4405307-asking-a-question-on-behalf-of-the-inlaws/#post-4659663 Wed, 30 Nov 2011 01:30:15 +0000 mickm007 wrote:
. On paper their plan looks great they own the propery and at 200-220k per unit to build and sell at 500k plus per unit how can this go wrong!! lol!!!

Can't help you with the finance questions, but this is the wrong way of looking at it. Regardless of whether they own the land or not the land value must be added to the build…[Read more]

]]> 0cfe9470891700435a62d9aeb42b21f2 bumskins replied to the topic Put extra funds in off set account or high interest savings account in the forum Help Needed! https://www.propertyinvesting.com/topic/4405285-put-extra-funds-in-off-set-account-or-high-interest-savings-account/#post-4659488 Mon, 28 Nov 2011 03:03:06 +0000 Terryw wrote:
Kong, this is an offset linked to an IP. So any reduction in the interest payable on the IP loan would lead to more income. This means the negative gearing effect will be less, or the positive income more. This in turn equals more tax.However, it still may work out better to put into the offset account.

His calculation for…[Read more]

]]> 760f41a8bcbcf6cd5ee8a52525cfd912 bumskins replied to the topic Put extra funds in off set account or high interest savings account in the forum Help Needed! https://www.propertyinvesting.com/topic/4405285-put-extra-funds-in-off-set-account-or-high-interest-savings-account/#post-4659487 Mon, 28 Nov 2011 02:55:19 +0000 For an IP the answer will always be your offset account because of the fact that your loan has a higher interest rate.

For PPOR definitely the offset account for obvious reasons.

]]> 2e1a839ff73cc0ba3bc84bcb8b70e270 bumskins replied to the topic SHOOT ME with your opinions and thoughts!! in the forum Help Needed! https://www.propertyinvesting.com/topic/4405263-shoot-me-with-your-opinions-and-thoughts/#post-4659340 Fri, 25 Nov 2011 03:43:22 +0000 Michael_Cao wrote:
Thanks for that information guys!I can either:1) use the 30k on my personal loan paying 14% and buy real estate in the US that offers 18% return and risk 30k only.Or,2)

Don’t do that. No way would you invest with a loan of 14%.

Paying down your personal loan would be the best advice, it’s effectively a return of 14% risk free.

]]> 3b817abe5b0f129d51e4b1f26f6d3f16 bumskins replied to the topic Video of my latest RENO in the forum Value Adding https://www.propertyinvesting.com/topic/4404984-video-of-my-latest-reno/#post-4657525 Sat, 29 Oct 2011 05:44:32 +0000 $384,000 + ~$13,000 Stamp Duty + $44,000 Reno + ~$50,000 Interest + ~$15,000 Sales costs + $Rates + $Insurance + $your time= $506,000+How much rent did you get over the period? Does seem to be a close shave.

]]> 1c6d02a38fd36a4b97bf7525c9234897 bumskins replied to the topic 10% INTEREST ON MY MONEY in the forum Overseas Deals https://www.propertyinvesting.com/topic/4405060-10-interest-on-my-money/#post-4658092 Fri, 28 Oct 2011 08:03:45 +0000 engelo10 wrote:
Hi all,I have just lent some money to a business that buys property in the US. Its a 5 year contract with an interest rate of 10% per annum. After 5 years there is a possibility to extend or get a balloon payment of the funds lent. If repayments are late by 60 days I can repossess the properties. What are your thoughts on this…[Read more]

]]> 2a6642ba2a149b0d7ac57b4650ae0f02 bumskins replied to the topic How do you save on Capital Gains Tax? in the forum Creative Investing https://www.propertyinvesting.com/topic/4403375-how-do-you-save-on-capital-gains-tax/page/2/#post-4646065 Sat, 08 Oct 2011 02:08:18 +0000 Mosqui wrote:
Can I claim the stamp duty back when I sell the IP? Or the Stamp Duty gets lost?

Yes, It's added to the cost base along with all other acquisition costs for determing capital gain when you sell the property.e.g. You bought the property for $500K, Stamp Duty was $20K, Other Capital Costs were $10K, you got $600K for selling after s…[Read more]

]]> a20fa241476d846619bd9eee186f805a bumskins replied to the topic How do you save on Capital Gains Tax? in the forum keiko wrote: Lets say you https://www.propertyinvesting.com/topic/4403375-how-do-you-save-on-capital-gains-tax/page/2/#post-4646063 Fri, 07 Oct 2011 04:54:30 +0000 keiko wrote:
Lets say you bought a house for $200,000 and after stamp duty and reno costs it owes you $220,000 and then you sell it after a couple of years for say $300,000 and make a $80,000 profit on that property less 50% = $40,000 taxable CGTNow lets say you made a loss on the books in the previous year for say $100,000, would the…[Read more]

]]> 1f4974ff5b25c25f574ef39228d4fd7e bumskins replied to the topic $100k in passive income in the forum Help Needed! https://www.propertyinvesting.com/topic/4404909-100k-in-passive-income/#post-4657033 Fri, 07 Oct 2011 02:51:30 +0000 engelo10 wrote:
Hi guys,I would like to get an idea from other investors as to what strategies they've used to achieve a passive income of a minimum $100k p.a. So far, my strategy has been purchasing below market value, renovating, refinancing, pulling out equity and repeating the same process. Similar to what Nathan Birch has done. I appreciate…[Read more]

]]> 0284ed4c28d207ceaf39a622a08e1f4a bumskins replied to the topic Cash gifts, laws and obligations in the forum Finance https://www.propertyinvesting.com/topic/4404750-cash-gifts-laws-and-obligations/#post-4656064 Tue, 27 Sep 2011 02:25:17 +0000 Tax has already been paid on the gift, by the person giving the gift. They paid income tax on the income they have gifted to you.

]]> 2a2fa151173aefc63dfcb4ff74c6e107 bumskins replied to the topic Vendor Finance to someone with dept via a trust. in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4404819-vendor-finance-to-someone-with-dept-via-a-trust/#post-4656450 Tue, 27 Sep 2011 02:18:43 +0000 Agree with Luke.Don't try and circumvent the policies in place to straddle him with even more debt. That is why he is in the situation in the first place.

]]> eb54fbe4bb19cc82b12ca96674be6e8a bumskins replied to the topic Costs of Financial Planning Advice in the forum Costs of Financial Planning Advice https://www.propertyinvesting.com/topic/4400537-costs-of-financial-planning-advice/page/2/#post-4627962 Wed, 21 Sep 2011 10:05:07 +0000 A lot of people on this site are strictly "Property Investors", this is counter intuitive to good Financial Planning advice. Therefor it is no wonder that many would not seek the services of a Financial Planner (even a good one) as it doesn't gel with their mantra. A financial planner should be looking at and giving weight to all investment…[Read more]

]]> eee58f07187308c9310566da74b4383a bumskins replied to the topic soooo Who here ownes property in USA ? in the forum Overseas Deals https://www.propertyinvesting.com/topic/4404716-soooo-who-here-ownes-property-in-usa/#post-4655731 Thu, 15 Sep 2011 19:23:41 +0000 Defaults are at an all time high and foreclosures have been artificially restricted for the last 9 months since the title fraud incidents. So don’t go rushing in.

Will be a long time before you see capital growth due to the credit restrictions in place.

]]> 600083fe83a0abb60765fe80a420d15b bumskins replied to the topic Property investment with another couple turns sour in the forum Help Needed! https://www.propertyinvesting.com/topic/4404555-property-investment-with-another-couple-turns-sour/#post-4654648 Sun, 28 Aug 2011 05:58:12 +0000 What was the benefit you were trying to achieve in buying the properties in a trust with the other parties? Why didn't you just keep ownership seperate? Seems like keeping ownership separate would of given your much more flexibility and still allowed you to partner with the other couple down the track to develop or sell if you wanted to.In terms…[Read more]

]]> 447b9389e994aab3250abcf02ecd6335 bumskins replied to the topic Centerlink and trusts in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4404439-centerlink-and-trusts/#post-4653819 Sat, 13 Aug 2011 08:01:43 +0000 Peter456 wrote:
He may give income from the property as "gifts" or I may just get him to use it to take over payments of some of my personal ongoing bills. Are there any other means you would know of achieving this task?

Assuming the property/trust is cashflow + as you imply, any "gifts" as you call them are actually considered income and must…[Read more]

]]> ca4544640a9559963be5a1a12fa617e5 bumskins replied to the topic Bowen Basin QLD Mining Towns - Opinion on offer in the forum Help Needed! https://www.propertyinvesting.com/topic/4391824-bowen-basin-qld-mining-towns-opinion-on-offer/page/19/#post-4579989 Sat, 06 Aug 2011 15:05:35 +0000 I think FIFO will be a big problem especially for places on the east coast where it is relatively easy/quick to transport people back to main hubs/capital cities, as it's what most workers will want.There has been a couple of articles recently which have focused on how companies have been starting to offer more social benefits as a way to…[Read more]

]]> 793ba198c980c6a306a9c86a1fef6747 bumskins replied to the topic Anyone else spooked by this talk of removing negative gearing? in the forum Finance https://www.propertyinvesting.com/topic/4404134-anyone-else-spooked-by-this-talk-of-removing-negative-gearing/#post-4651203 Sat, 09 Jul 2011 13:01:10 +0000 I'd be glad to see Negative Gearing phased out on existing property, I can see the arguement for keeping it around for new constructions (only from the point of view of an incentive, but it could easily be removed and replaced with some other kind of incentive).There is no way the CGT exemption for PPOR should be removed however. When you sellup…[Read more]

]]> d177ab4afca758b16c28bed2a2ecb791 bumskins replied to the topic Supperannuation and Wills in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4403931-supperannuation-and-wills/page/6/#post-4649822 Mon, 20 Jun 2011 03:14:08 +0000 Terryw wrote:
On marriage the assets of one partner do not necessarily become assets of the spouses jointly. If there is a divorce or a separation then the Family Court can make orders to transfer assets, including that of trust assets, but until then the assets are the assets of the individual under normal terms.

That is true, it depends…[Read more]

]]> f53a0cac6ae7e1ec54f8a998fbfd9950 bumskins replied to the topic Supperannuation and Wills in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4403931-supperannuation-and-wills/page/5/#post-4649816 Sun, 19 Jun 2011 11:47:05 +0000 If your father hasn't created any kind of binding financial agreement, I think you need to be open to the fact that his new wife is likely to get 50+% of the assets. It will no longer be your dads assets but property of the marriage, your dad can't give away his wifes share of the assets in his will only his share.Similarly I would think the same…[Read more]

]]> bf00a21bf31875bcda224b5cbe3c054d bumskins replied to the topic ANZ's position on Negative Gearing in the forum Help Needed! https://www.propertyinvesting.com/topic/4403833-anzs-position-on-negative-gearing/#post-4649158 Sun, 05 Jun 2011 05:40:24 +0000 What I would like to see happen:State Government Remove Stamp Duty & rely on changes to land tax to make up the short fall, this should reduce land banking/property barrens & would allow a better flowing economy with more mobile workers.Remove Negative Gearing & the massive speculation in housing (it should be predominantly used to live in and…[Read more]

]]> 09395a58451748d63d7aedd63e950813 bumskins replied to the topic Inheritance resulting in loosing the FHOG (trusts) in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4401836-inheritance-resulting-in-loosing-the-fhog-trusts/#post-4635853 Thu, 18 Nov 2010 21:09:30 +0000 Then you don’t qualify.

I.e if you ever live in a property you own, you are no longer illegible for FHOG

]]> 027ebc00024006fd768f830abc2f1849 bumskins replied to the topic Gladstone - The good the bad and the ugly? in the forum General Property https://www.propertyinvesting.com/topic/4400757-gladstone-the-good-the-bad-and-the-ugly/#post-4629253 Sun, 14 Nov 2010 07:34:15 +0000 My opinion is to be careful with any comparisons of Gladstone to places like Port Headland / Karrathra, they are trully remote & out of the way. Gladstone has another major city in Rockhampton only being ~1.5Hrs away, with little town's along the way. They are already much larger established towns in their own right, which will mean less…[Read more]

]]> 51bb1b7ee85d66613907f675f380eaca bumskins replied to the topic Inheritance resulting in loosing the FHOG (trusts) in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4401836-inheritance-resulting-in-loosing-the-fhog-trusts/#post-4635851 Sat, 13 Nov 2010 22:58:41 +0000 It's ok to own an investment property as long as you have never lived in it.

]]> ac7417f913dfad35759c700768ad0cbd bumskins replied to the topic houses under powerlines in the forum General Property https://www.propertyinvesting.com/topic/4401626-houses-under-powerlines/#post-4634767 Sun, 07 Nov 2010 11:43:32 +0000 The really High Voltage Powerlines, especially on towers have a massive easement, which means you could have a large swab of your land that you are unable to build on (can get away with temporary structures, e.g. car ports etc) but they can be demolished and and removed at your cost. I can't exactly remember the distance, but think rotating the…[Read more]

]]> ea06d8542292c639f8520f8c84d722d6 bumskins replied to the topic Buying my 1st property! Does it make sense to invest in a holiday house?? in the forum An accountant, its their https://www.propertyinvesting.com/topic/4401377-buying-my-1st-property-does-it-make-sense-to-invest-in-a-holiday-house/#post-4633318 Sun, 07 Nov 2010 10:08:17 +0000 An accountant, its their bread and butter. From the sound of it you are working in mining or the like. If so I would highly advise seeing an accountant even just for the job aspect, the PPOR/Investment can just be a bonus (ask while he gives you tax advice on what you can claim for the job, so you know what reciepts and documentation to keep)..As…[Read more]

]]> 918edfb925efb6690e85a27e9bfa6b24 bumskins replied to the topic MIAMI (ad)VICE in the forum Overseas Deals https://www.propertyinvesting.com/topic/4401354-miami-advice/page/8/#post-4632930 Sun, 07 Nov 2010 09:09:15 +0000 British Buyer, what are your current thoughts on the foreclosure fraud issues mentioned of past ? (or possibly even current?) Are you now satisified that banks have done proper(bullet-tight) due-dilligence on the properties they are listing/have relisted? If not what do you intend to do to protect yourself.Also what are people's thoughts &a…[Read more]

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