Total Members: 158,056

crj

  • crj replied to the topic Sheriff sales in the forum Help Needed! 2 years, 9 months ago

    I think your issue in Australia would be that unlike a sale for unpaid rates, any sale by the sheriff would still be subject to registered mortgages on the title.

  • crj replied to the topic Is initial repair fees tax refundable? in the forum Help Needed! 3 years, 4 months ago

    Cannot claim as a deduction might be capital works or depreciation. Talk to your accountabt

  • crj replied to the topic Selling 12% plus Property in the forum Buy, Swap & Sell 5 years, 8 months ago

    You don’t need to convince me about the benefits of multiple occupancies on one title. I can buy multiple occupancy in a major regional city on a gross yield of 10.6%, with a net of around 7.5%. Much lower risk. I was just stating what kind of gross return I would want if I were to take on the risk of a small western nsw town dependent on…[Read more]

  • crj replied to the topic Selling 12% plus Property in the forum Buy, Swap & Sell 5 years, 8 months ago

    Seems a bit overpriced. 3.1% costs = 11,000 approx. If poor rural season and say half vacant the gross rent would be less than $24,000 – take away 11,000 costs, net return 3.8%

    Maybe gross return of 15% based on the average annual rental received over the last3 years would be closer. If the properties had been fully let without vacancy this…[Read more]

  • crj replied to the topic Live in a great investment that was our first home. in the forum Help Needed! 6 years, 1 month ago

    Suggest you start with a good mortgage broker to see whether this is feasible. Give them as much information as possible.

    Think outside the box. May be you might be better to buy and lease out for a year. i understand stamp duty on conveyancing in the ACT is tax deductible on IPs because it is actually transferring the lease.

  • crj replied to the topic Strata Titling a Block of Units… in the forum Creative Investing 6 years, 4 months ago

    Complying with fire regs. You will need fire separation between the flats including in the roof space. Suggest you get a competent building certifier to inspect and say what the regs require.

  • crj replied to the topic Question regarding to PPOR and CGT in the forum Finance 6 years, 4 months ago

    1. Deliberately lying on loan application ie saying there is/will be income (rent) that there won’t be. Obtaining money under false pretences.
    2 & 3 No effect from CGT or Land Tax

  • crj replied to the topic Some more sharing from the weekend class in the forum Help Needed! 6 years, 4 months ago

    Try and find some people who signed up for the $28k and ask them for their experience. It would be good if you could find some people who have not been recommended by the company.

  • crj replied to the topic Final round sharing — cash flow is the king in the forum Help Needed! 6 years, 4 months ago

    Steve, thank you for taking the time to describe your weekend to us.

    May I suggest you do some due diligence first. One of your posts suggested wedon’t ask for advice. You could post on this forum or another forum asking for people to recommend newzealand buying agents, accountants, lawyers etc.

    Second, if you are tax resident inAustralia…[Read more]

  • crj replied to the topic Major capital improvement, new cost base and CGT calculation? in the forum Legal & Accounting 6 years, 5 months ago

    You have not acquired the original property before 20/09/1985 which is what your link refers to. Do what TerryW says.

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

    You could easily end up $30,000 out of pocket. Why was the land on that side excavated? Was there a pollution issue etc?

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

    If the developer will buy the land back and pay back the settlement fees that sounds like a pretty good deal. This would seem to be a defect in quality rather than in the Vendor’s title and whether you would be successful might be questionable. Your best chance might be if Australian consumer law applies. Also should the Council have consented…[Read more]

  • crj replied to the topic Is this "Fake News", or just a reporter with a crook calculator? in the forum Opinionated! 6 years, 11 months ago

    From memory, the unemployment rate is based on people looking for work, not simply jobs. Jan/Feb would have more people looking for work – finishing uni, school, etc etc. Also from memory ABS doesn’t count you as unemployed if you are working minimum 1 hr per week.

  • crj replied to the topic Bushfire Prone Areas & Mines in the forum Help Needed! 7 years ago

    Mining could result in subsidence. You would need to see what effectthst would have on development

  • You haven’t given any time frames showing when your father needs to settle or what he needs to make it happen. What does he need? Does he need to find say $280,000 plus to get 20% equity in properties 3 and 4.

    a. can you or someone else lend it to him;
    b. can he onsell any of properties 2, 3 and 4
    c. can he sell his house and/or property 1 to…[Read more]

  • You haven’t given any time frames showing when your father needs to settle. What does he need? Does he need to find say $280,000 plus to get 20% equity in properties 3 and 4.

    a.

  • crj replied to the topic tenant hasnt paid last two gas bills – what to do? in the forum Help Needed! 7 years ago

    What does your lease say about how the payment for gas by the tenant is calculated

  • crj replied to the topic tenant hasnt paid last two gas bills – what to do? in the forum Help Needed! 7 years ago

    what state check ehether you can pass it on if the flat is not separately metered

  • crj replied to the topic Dominique Grubisa and Vestey Trust Structures in the forum Legal & Accounting 7 years, 5 months ago

    read the rise and fall of the house of vestey by phillip knightley

    from memory vesteys were able tokeep moneyoverseas in acomplex trust setup hard to seehow this could work in australia with an australian resident trust as ato taxes trust on the undistributed income

    has she got a ruling from the ato and senior counsel’s opinion

  • crj replied to the topic Dominique Grubisa and Vestey Trust Structures in the forum Legal & Accounting 7 years, 5 months ago

    read the rise and fall of the house of vestey by phillip knightley

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crj

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