Hi Kriscot,

Just getting valuations done and shoring up my position ready to purchase within two/three months.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

Hi Psychic,

This topic comes up from time to time and I suggest that you use the search facility. It is located under the forums button at the top left of the screen.

As a little taster see this thread – it is fairly recent (there are many others). https://www.propertyinvesting.com/forum/topic/21537.html

I would also be wary of buying anything…[Read more]

Originally posted by jjaaus:
True story : my first broker suggested I use the first home owners grant to “get me over the line” even though he knew I was buying as an investment, he suggested I place the utilities in my name and not lodge the bond with the QLD RTA, as far as anyone was concerned I resided in the property….and….as he got even…[Read more]

Hi Hong,

When I looked at shares V property for myself the attractive things was the leveraging capacity of property. Went to property initially and have diversified into shares using available equity.

However rather than trade warrants (too risky for this little black duck) I put some hard earned into the Navra Fund which suits me…[Read more]

Originally posted by fernfurn:
You dont have to pay your tax until the next April. In other words put your tax return off to the last possible moment

Fern

And put the funds into a ‘do not touch account’ linked to any non-deductible debt you have. Make the payment at the last minute and you get a little bit both…[Read more]

Please limit postings to a single entry so that conversations follow a train of thought and dialogue. I have deleted the other post.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

Hi PK,

Some Collie stats –

193 sales in 2005 (out of town investors pumping the market?) – median $143K,
50.5% growth in 2005 (see previous bracketed comments),
10 year average 3.2%/annum.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

Hi Ceasar,

You are able to amend the previous four (from hazy Xmas/New Year foggy memory) tax returns.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

Hi MC,

As you can see there are some options available to you.

At the end of the day the best course of action will be determined by your long term plans. If these haven’t been planned (even broadly at this stage) then you may end up misdirecting some of your available funds and efforts.

If this property could become a rental at some stage in…[Read more]

Hi Wade,

Recommend you visit the ATO website and do a search for rental properties – the document is downloadable.

This will provided you with all the information you require.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

Hi Rye,

From an equity position you are well placed to borrow the additional funds. However a standard lend is also determined by your serviceability (ability to fund the loans) and without this information I cannot be of more use. An asset loan may be an option.

Given the situation I suggest a good broker is your best…[Read more]

Hi Bumbles,

Note I am not a tax specialist so I may well be talking out of my hat but I suggest your folks maybe getting incorrect advice. I recommend you have a look at http://www.chrisbatten.com.au/ and look at the section titled ‘Poisoned Property’.

As an aside if your parents are seeking to set up a structure that entitles them to receive…[Read more]

Hi CM,

The real question is what are your long term plans. The answer to this will really determine what the best course of action is for you.

For example – have you considered moving out of your home and renting, thereby turningyour existing PPOR into an investment property. Provided you do not buy another PPOR this particular property will…[Read more]

The search function is now located under the ‘forums’ button which appears across the top of the page and immediately under the banner.

Roll your cursor over the word forum and it will appear as the last item on the drop down menu.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

Originally posted by Wantok:
We’re a little concerned that maybe our local ITP style accountant

Hi Jack,

As a property investor it is important that your tax affairs be squeakly clean, while at the same time having your deductions legally maximised. For this reason a specialised accountant, often with their own IPs is your best bet.…[Read more]

Hi MC,

Thanks for the figures – I’ll post them here so others can have a crack at some alternatives too.

Loan amount = $184K & value = $214K

I used one of those web based calculators and an interest rate of 6.8%. On aloan of this size would require fortnightly repayments of ~$1670 in order for the loan to paid out in that time frame. Given you…[Read more]

Ooops – the things I say in jest. Sorry Simon.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

Hi MC,

Congratulations on the purchase – to be of assistance we may need the outstanding loan amount and possibly the purchase price to be of assistance.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

Did you solicitor ring just before settlement was scheduled and ask if it is right to settle? If so this in essence is them making sure that you are satisfied that the conditions have been met to your satisfaction.

Having said that what’s done is done – now you need to move on and get the REA who is managing the property to start the eviction…[Read more]

Hi all,

For me it is a combination of the time of the year and also the creation of the results forum that has seen traffic drop off here.

It will be back as people get back into their daily grind.[bigeyes]

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958