Forum Replies Created
Hi, Im back. Given that company directors are still liable and given that superfunds can be targeted if one is sued, then I guess these structures arent worth the money.
With superfunds, my parents split, and mum got half of dad's super. So i really dont want a company or superfund.
I think they do not provide any better protection than a sole trader.
Disretionary trusts may be better, but I am not sure, and do they have to be set up in a particular way?
So, I am in SA.
(1) Does this mean setting up a superfund and then transferring the assets to that? The thing is I owe about $280K and there is about $320K in free equity or capital there now.
(2) For my business I intend to convert to a company trustee with a unit trust (for partners) , and
(3) when i purchase future IPs I will set up a trust with the company as a trustee.anything i missed here?
KingB – In answer to your question, I am selling because I need more money for a cash deposit to purchase a decent sized house. I do need to check whether CGT is payable first though.
Marg – Presently the lease is coming to completion (end of Oct07), the tenant wants to stay on, but I am just trying to figure out whether to sell or not, and how to best do this.
thanks mackar.
please explain the where, what, how to recover in a new laminate?That is interesting about the kitchen.
I might investigate this at the hardware store and see if I come up with the same end result.
The alternative option is to repaint the cupboards.Not sure about feature walls. The problem is that a feature wall for 1 potential buyer may be distusting for the next.
PS I agree with darker tiles for the kitchen floor, but what colour is a good modern colour which won’t go out of fashion?
Hi guys, thanks for all your posts.
J, my aim is to continue renting the place out. My tenant will be doing all the reno’s as he has done pubs professionally before. I will be paying for the materials. I am a little nervous about it all.
For the bathroom, by white fittings I meant the toilet, the hand basin. The floor tiles I have purchased a very neutral pale brown/biege colour with dark or grey grout. The walls are probably going to be white with the same colour in a strip along the walls about head height.
For the kitchen, I was actually considering ripping out the old kitchen cupboards etc. J you mention laminate. I have no idea where to buy this from, do I measure and do it myself?
For the floor tiles I note you say terracota is 10 years old now, but i didnt quite understand what colour is current?
Thanks once again guys…
[biggrin]
thanks for your input!
I am trying to stay clear of “my” preference because its really a PI and I won’t be living there. I think my tenant’s suggestions are good.
Do you guys think the following is too colourful?
He has suggested teracota tiles for the kitchen, white tiles for the walls, haven’t decided on the benchtops etc yet.
and for the bathroom, a deep sea blue tiled floor with smaller jade tiles rotated 90 degrees. The walls white tiles with a feature pebble type look in the wall. White porcelain bathroom fittings.
I know this gets away from the white tile look. But sometimes a bit of colour makes it look more like a home and less like a hospital, is my opinion.
Regards
Alex[biggrin]The place is a 2 bedroom rental unit about 15 mins from adelaide in the metro area.
Hi guys, I have 3 good positive cash flow rental properties all of which I am keeping and I am intending to build my portofolio simply because I believe an positively geared asset is worth hanging onto.
I don’t think I would sell these ever, and I am currently looking for bargains to swallow up to increase this property portfolio.
I consider that selling does have a downturn in the sense that you pay to sell and you also pay to buy and so doing so repeatly can in fact hurt your overall strength, specially when you can use your assets to borrow more funds.
Good luck to you all….
[biggrin]
thanks guys – I’ve had a lot of unexpected interest already – I will PM some of you back
cheers
AlexHi a few people have asked to view the place – so I have posted a few pics up for you guys on
http://www.geocities.com/daaussie/sale
Alex
Hi in my opinion if your objective is to acquire properties to rent, then you shouldn’t sell because the townhouse expenses such as mortgage etc is tax deductible. What I would do is try to borrow the full 80% value of each of the properties by getting your banks to revalue. Then you get the extra money given to you and pay that into your house mortgage where u reside….
Well everyone here seems to know what the future holds. I remember when buying my first property for $65,000 in Oct2001 how everyone 6 months later was saying the market would crash. I asked everyone, every age group from different business environments. Most of the older (50-60 year old working people) advised to sell out for around $80,000K and get the small profit. I held on feeling quite pressured and stressed and considered selling. Now properties in the same block sell for $150,000K.
If you sell out, you lose not only in CGs but also you have to pay the agent commission, then whenyou buy another property with your profit, you pay approx 10% of the purchase price in fees, stamp duty, tax, most of which is tax deducitble but you end up paying for it anyhow….
My plan is to buy and hold and rent. others buy and sell.
Whichever way you go, good luck with it –
I really feel sorry for those investors in the lurch, I can’t imagine buying properties at $100K and having my dreams destroyed like that….[glum2]
well I am considering it. I guess its just that I never take at face value what a real estate agent tells me. I want to check it out from the other end where the agent has no input, but I really don’t know what the other end(s) are if you know what i mean.
For example the other end could include finding someone who has purchased one of them and get some inside info on how it is going… I have no idea again how to find someone..
