Hi Geo,

Oh shucks – I have just realised I have buggered up my chances of winning the lottery.

“Due to mix up of some numbers and names, we ask that you keep your winning information confidential until your claims have been processed and your money remitted to your nominated bank account.”

I missed the confidential clause in…[Read more]

Hi Greg,

I wonder if this is really a win win situation.

Based on your description this lady is particularly thrifty and has done extremely well to raise three kids by herself. As such I wonder if she has some cash stashed away somewhere, which combined with her FHOG, gives her a deposit.

Even though she may be on Centrelink benefits I wonder…[Read more]

Hi TVLachos,

I assume you mean http://www.stableone.com.au.

Without having dealt with this particular company I can only provide you with some comment of a general nature.

I have cut and paste a list of suggested comments that I posted elsewhere that you may find of interest in determing whether or not Stable One suits your needs.

Some thoughts for…[Read more]

Hi Marlin,

I suspect you have confused the 6 year PPOR CGT exemption CGT rule with any restrictions that may apply to the FHOG, mind you I have never had the need to read FHOG legislation so I may be wrong.

The 6 year rule as it applies to CGT states you can largely only have one PPOR at any one time – there are a few minor qualifications to…[Read more]

Hi Torachan,

There are two ways to make money in property – income and growth.

The income process is patently clear to all and sundry = more money coming in than going out = positive gearing.

Sometimes overlooked by some proponents of property is the growth equation.

So if I own a property that is costing me $100/week (as an example and to…[Read more]

Hi Elves,

Hmmmmmmmmm

OK, I did as you suggested and have spent a little time researching the matter of CGT deferment as it relates to the question originally asked without any clouding of the issue with reference to shares, collectables, previous postings and so on.

Initially I read the following ATO guide that covers a great many issues…[Read more]

Hi Mark,

I actually don’t have a problem with what you are proposing provided you let the vendors and agents know that your offers are submitted conditional on the first one being accepted by the vendor within ‘X’ days.

This way you are up front and honest, letting both the vendor and agent know where they stand in relation to the other…[Read more]

Hello Sonja,

Be aware that mortgage sales do not always = good buying price. Research still needs to be done.

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Hi Mark,

Just as a bank has rules to guide them when determining either you or your property are a ‘risk’ to their money so does a loan mortgage insurer.

Without knowing the details of the property you are wanting to buy I would suggest that the LMI provider has determined the limit, for this situation, to be 90%.

Someone posted (sorry someone)…[Read more]

Hi Simon,

And with this financial year drawing to a close – time is of the essence for those who have picked up new information that can be back-dated and applied to previous returns.

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Originally posted by FW:
Hi Fish
Also, a couple of times when Rick has been interview by shows that are planning to do a hatchet job, he has offered to get in touch with some of his wrap buyers so that they can show the positive side too. They’ve never been interested. I wonder why?

Keep smiling
Felicity

Hi Felicity,

Hmmmmmm a rhetorical…[Read more]

Hi Gina,

I am under the impression that the agent is required by law to present you with all offers. If you can prove that this didn’t happen then your agent may have a case to answer for. After all it is your property and it is you (not the agent) who determines whether or not it is acceptable.

A follow up call to your state based RE institute…[Read more]

Hi Misty,

Agreeing with Bill on the proviso that there is not an inordinate amount of time between land purchase and commencement of ‘work’ towards the construction of a rental property.

If questioned by the ATO you would have to demonstrate that there was intent to construct an income earning asset – for your own peace of mind I wouldn’t leave…[Read more]

Originally posted by DaisyGirl:

If you have an investment property and sell it after a few years and make a capital gain on it… is it possible to purchase another investment property and basically “delay” or rollover your capital gain into that property. This means you wouldn’t pay that capital gain until you sold that property at a later…[Read more]

Hi Elves,

I still don’t believe that under normal circumstances capital gains in property can be deferred by your ‘Joe Average’ property investor.

Typically property is not normally considered a business and any business advantages with CGT deferral do not apply to property.

I assume – if property is your business – there may be some…[Read more]

Hi Daisygirl,

Not an accountant but as far as I am aware the option of deferring capital gains only applies to business operators who may sell one business and then buy into another.

Seek advice more expert than mine.

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Hi Gazaa,

I am not an accountant so certainly take what I have to say with a grain of salt – hopefully some pointers I can give will provide some discussion starters with your accountant.

I am assuming you are buying a new PPOR and as such your CGT clock will start ticking soon after you move into your new home. If you are not buying a new PPOR…[Read more]

Hi Monopoly,

I am not sure if my comments will be appropriate but here goes anyway.

I suggest you (and very importantly Hubby too!) read both Jan Sommers and Steve McKnight’s property investment books. While they, in a sense contradict, each other they do explain the two ‘extremes’ and you will be able to clarify what you are capable of doing if…[Read more]

Originally posted by RussH:
I would be very sceptical about this.When there is a middle man there are always fees.
Why dont you just do it all yourself and then when things go wrong AS THEY USUALLY DO with these sort of companies you will at least know what you did.

Russ.

Gee Russ – some very sweeping statements there. You must have been burnt…[Read more]

Hi James,

As you described initially an offset has the effect of reducing your principle and as such using your numbers the interest would be calculated on $40K and not $50K.

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.