Total Members: 158,364

Domo

  • Domo replied to the topic Is equity the same as cash ???? in the forum General Property 19 years, 6 months ago

    I should also clarify that the 1% extra was charged if I wanted a separate offset account .
    If the loan account is an offset account there is no extra charges.

  • Domo replied to the topic Is equity the same as cash ???? in the forum General Property 19 years, 6 months ago

    Originally posted by calvin@thirty4:

    Or Simon, … is this correct? If so, how then is the off-set account such a benefit? That’s an extra $83.33 per month for every 100K. And they make a big thing out of an extra $25 month if the interest goes up by .25%.

    Cheers

    C@34

    This is all confusing , has anyone been able to negotiate the interest rate…[Read more]

  • Domo replied to the topic Is equity the same as cash ???? in the forum General Property 19 years, 6 months ago

    Originally posted by qwerty:
    Hi Domo,

    Be careful. Say you pay it into your IP loan and want to draw on that $100k for a new car. There goes your tax deductibility.
    If you put that money in an offset account against your IP loan you could draw out the money for a new car and that would be tax deductible.

    qwerty

    My bank charges 1% above the…[Read more]

  • Domo replied to the topic TRUSTS in the forum No Subject 19 years, 6 months ago

    I have been advised by my accountant to use a trust.

    The property that I live in has a mortgage , the interest is not tax deductible.
    I have an IP with no mortgage.
    What I have been advised to do is create a Trust ( Which type I don’t know yet )
    Sell my ip to the trust ( borrow all the money ) My accountant wants to change my IP from +ve geared…[Read more]

  • Domo replied to the topic Negative gearing + positive cash flow strategy in the forum General Property 19 years, 6 months ago

    Originally posted by Monopoly:
    Take a look for yourself, and you be the judge Domo.
    http://www.somersoft.com/forums/index.php?

    Cheers,

    Jo

    Jo
    I had a bit of a look last night & it looks like another great forum.

    Thanks [thumbsupanim]

  • Domo replied to the topic Negative gearing + positive cash flow strategy in the forum General Property 19 years, 6 months ago

    Originally posted by Monopoly:
    Stay with us, both here, and at Somersoft, and you will (like me) find there is a lot of “giving and taking” that goes on to benefit ALL who willingly share of their knowledge/experiences!!! .

    Jo
    I have seen Somersoft mentioned in the forum , can you give me some more info please.
    [biggrin]

  • Domo replied to the topic Negative gearing + positive cash flow strategy in the forum General Property 19 years, 6 months ago

    Originally posted by Derek:
    Originally posted by Domo:
    I don’t necessarily agree with this for all negatively geared investors Dom – those that are only focussed on this aspect of their investments will, in the main, make poor decisions as their reason for investing is wrong.

    Derek

    I have read a number of books on property investing & they…[Read more]

  • Domo replied to the topic Negative gearing + positive cash flow strategy in the forum General Property 19 years, 6 months ago

    Originally posted by Monopoly:
    Do your homework, research the facts, then we’ll talk!!!

    Monopoly

    I do speak partially out of ignorance as i am trying to work things out ….
    The great thing about this forum is that there are people like yourself who are willing to put an opinion forward & help guide some of us.
    My accountant is suggesting…[Read more]

  • Domo replied to the topic Negative gearing + positive cash flow strategy in the forum General Property 19 years, 6 months ago

    landburn

    I am in the highest tax bracket & have an IP which I am wanting to rent this IP will be positively geared which means approx half the profits go to the tax man.
    Your opinion is that it is better to make $100 profit than to minimise my tax as the $100 is passive income.
    It seems to me that positive cash flow is associated with a positive…[Read more]

  • Domo replied to the topic Negative gearing + positive cash flow strategy in the forum General Property 19 years, 6 months ago

    It’s unfortunate but I won’t be retiring in the next couple of years so I will be looking to invest for capital growth in the next property cycle as well as +ve cashflow to replace my salary.
    I would also like to reduce my tax obligation.

    It seems there are 3 things that I need to look at :

    1: How much longer to I want to work in a job for.(…[Read more]

  • Domo replied to the topic Negative gearing + positive cash flow strategy in the forum General Property 19 years, 6 months ago

    Thanks for the reply’s , I have learnt a new work “Offset Gearing” .

    I haven’t read anything about Offset Gearing , the books that I have read are pro negative gearing or pro positive cash flow.
    It’s great to get feedback from people with experience & are willing to help.
    I will do some more research !!!!!

    My accountant seems to have a strategy…[Read more]

  • Domo replied to the topic Create negative geared IP into a Positive geared I in the forum Creative Investing 19 years, 7 months ago

    MortgageHunter
    If IP no 1 has no debt & the equity is used for a deposit isn’t it the same as using cash for the deposit ??[blink]

  • Domo replied to the topic Depreciation Schedule in the forum General Property 19 years, 7 months ago

    I finally arranged for a depreciation schedule .
    The people I spoke to were very helpful.
    Some data needs to be collected before an appointment can be made , this is done via the Depreciator web site.
    I found all questions were clearly written & could be easily answered.
    On the same day that all the info was supplied I received a phone call which…[Read more]

  • Domo replied to the topic Estate Agent Credential check in the forum No Subject 19 years, 7 months ago

    I received a call from consumer affairs regarding the enquiry I made.
    Consumer affairs have a record of all complaints this includes successful prosecution & complaints which were not substantiated. This database is not available to the public.
    What is available to the public are media releases & documents of successful prosecutions.

    You can find…[Read more]

  • Domo replied to the topic Estate Agent Credential check in the forum General Property 19 years, 7 months ago

    I have lodged an enquiry to try & find out if there is a resource available to check if complaints have been lodged against Estate Agents in victoria.
    As I find information I will post it.[thumbsupanim]

    http://www.consumer.vic.gov.au/cbav/fairsite.nsf/pages/of_enquiries

  • Domo replied to the topic Estate Agent Credential check in the forum No Subject 19 years, 7 months ago

    I have lodged an enquiry to try & find out if there is a resource available to check if complaints have been lodged against Estate Agents in victoria.
    As I find information I will post it.[thumbsupanim]

    http://www.consumer.vic.gov.au/cbav/fairsite.nsf/pages/of_enquiries

  • Domo replied to the topic Property Mamagement in the forum General Property 19 years, 7 months ago

    I have found a VICGOV site which has quite a bit of information.
    It has a section titled ( Being a Landlord )
    which covers what forms need to be completed plus Landlord obligation.
    I think it’s worth having a look.

    http://www.land.vic.gov.au/land/lcnlc2.nsf/childdocs/-3DCD6E932629689A4A256A0A00194577-988051AEA8D7A5684A256A0A00186FA2?open

  • Domo replied to the topic Property Data in the forum General Property 19 years, 7 months ago

    I have been looking for more info & found a vicgov site which sells info as well which sounds interesting.
    Has anyone used info from the site below ?

    http://www.land.vic.gov.au/land/lcnlc2.nsf/Home+Page/Land+Channel~Home+Page?open

  • Domo replied to the topic Property Data in the forum General Property 19 years, 7 months ago

    Originally posted by YC:
    Hi elika7264,

    I’ve been using this site as a reference for information in suburbs. It’s not cheap when goes down to street level info but it looks to be really specific and detailed – sorry can’t give you more info on that since I’d been only using the free one. Let me know if it’s good when you do purchase any report…[Read more]

  • Domo replied to the topic Tenant Selection in the forum General Property 19 years, 7 months ago

    Regarding Pets during the screening of tenants can you ask what type of pet a tenant has ??

    As this may help match the tenant to the property eg: if the property has a small court yard & the Tenant has a big dog it would seem that the tenant does not fit the property !!!!!

    Does anyone have any thoughts on this ????

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Domo

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