Originally posted by jcls79:
my property manager insisted that she can only evicted the tenant in 2 months because it is the official timeframe that tenants are given for eviction. The grounds for eviction is that the bathroom has been completely trashed

Hi John,

Not a PM but I reckon your soon to be PM is taking you for a ride. I suggest you…[Read more]

Hi Matt,

Sounds you like you and your partner have most bases covered and best wishes for your collective investment journey.

You have chosen some good areas there – our research is pointing to a couple of those suburbs as being good long term buys.

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

In terms of continued tax deductions the balance of the loan on your unit is all the interest that you will be able to claim as any redrawn funds or equity used will be for new new home and as such these funds are not deductible.

Originally posted by chockey:
I have almost paid off the loan on my small unit, but want to use the equity on the…[Read more]

Originally posted by thecrest:
What about later, when the agreement for the sale and purchase has been completed , are they no longer a party to an agreement to buy or sell because it’s been and gone, ?? They no longer own it, and there’s no agreement. how long do they remain in limbo ?

I suspect the line of thinking here is that the ‘party…[Read more]

Originally posted by Bonnie:
Can you tell me what the consequences could be by not being covered under the act.

Hi Bonnie,

This one slipped below the radar – sorry.

The Act is designed to provide ‘protection’ (if that is the right word) to landlords and tenants alike.

If there is a dispute between the two parties then the first reference…[Read more]

Hi Dazzling,

Cashflow positive they may be – but from a quick glance it appears they are all commercial or industrial.

Generally speaking most people who come here and ask where are the cf+ properties are usually confining their search to residential properties. Hence my response.

Whether or not they are prepared to consider other than…[Read more]

Hi 39,

There are a number of ways that you can spend your $500K – where to best direct this is going to be determined by your personal presferences for cashflow or growth or a combination thereof.

As a broadbrushed statement if you are seeking cashflow from your investments then you will need to consider the strong possibility of buying out of…[Read more]

Hi Arky,

If your wife does sell a property any gains made are added to her taxable income. So, if she isn’t earning anything then her sole taxable income is the gains made.

Furthermore if she has held the property for more then 12 months and 1 day (contract signing dates not sale dates) then she would only be taxed on half the gain.

Dale…[Read more]

Hi Dan,

Suggest you download a copy of the ATO’s Rental Property Guide.

http://www.ato.gov.au/individuals/content.asp?doc=/content/42782.htm

It will address your questions for you.

PS Congrats on the purchase.

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

Hi Arky,

I assume the property is in your home state of Victoria, as such I understand that it is possible to transfer property between spouses without incuring stamp duty. Now this opportunity may only exist when a PPOR is involved and may not extend to an investment property.

On this matter I suggest that you contact the Vic Office of State…[Read more]

Not John but there were some building companies that have so many orders that they will take some time to clear the backlog.

One display company (name escapes me) closed down or reduced their opening hours of their display homes to catch up.

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

Hi Jenny,

As John has indicated the this property will still be subject to CGT as some of it’s life was spent as an IP.

The only saviour you have is if this property was originally your PPOR and you have moved out for a period of time of less than 6 years provided you did not buy another PPOR during this 6 year period.

Suggest you search the…[Read more]

I must admit I don’t know a thing about USA property investment but my alarm detector went off when you said This seminar presented by few American real estate agent.

For the life of me I cannot understand why these agents would feel the need to travel all the way to Australia to sell real estate.

As G7 indicated if USA is it for you – then PM…[Read more]

Hi D,

I tend to agree with Beanie – get there and have a look around and get to know the area/s that you would be prepared to invest and/or buy into.

Assume that your rent is $250/week. Over a 6 month period this ‘bill’ will total $6.5K – money you could easily make up with a prudent buy.

The timeframes you are talking are nothing in the grand…[Read more]

Originally posted by Dazzling:
I was staggered. Later in the evening the speaker admitted that they held exclusively to residential, had no idea about the myriad other types of property out there, but did say Kevin Young was dipping his toe in that water. In the same brochure handout Kevin is pictured saying he is now chasing CIP’s and IIP’s as…[Read more]

Hi Wez,

Topics are locked for any number of reasons and as a moderator ‘we call it as we see it’

Certainly from a personal perspective I am mindful of not allowing discussion to transgress legal lines, nor degenerate into a he said/she said/you said dialogue that does nothing to the topic being discussed, or being watchful for those threads that…[Read more]

Hi Wilko,

I actually wonder whether or not FPs/FAs are of value to people who possess a financial awareness within themselves.

My personal experiences were less than satisfactory and I would fit into the decidely unhappy category – the last FA/FP I spoke to tried to dissuade me from property while at the same time encouraging me to put my hard…[Read more]

Is it also possible that the bank/LMI provider see the town as too great a risk to their money and that is whay they won’t lend to 95%?

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

Hi MC,

While I understand where you are coming from – I still cannot reconcile the conservative bones in my body.

Approach the matter from a worst case scenario; you don’t get the job, you are terminated and cannot find another job, what will you do then?

I go back to the initial comments – there will be others and time is on your side – but…[Read more]

Hi Kay,

Anyone who received Michael Yardney’s latest newsletter could have downloaded a audio of a ‘renovation discussion’ between Geoff and Paul.

Makes for interesting listening. Not sure if the link is still available.

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