Total Members: 158,668

gmh454

  • gmh454 replied to the topic Is this interest really deductible? in the forum Help Needed! 11 years, 1 month ago

    it could be done many years ago, but think they change may be around 15 years ago ..

    so he is either dumb and dangerous or been living under a rock (or just got out)

  • gmh454 replied to the topic New Investors in the forum General Property 11 years, 1 month ago

    Nigel that first post is a classic..

    I'm an accountant and it is amazing how people will sign their lives away with their new best friend, and make a conscious decision not to waste money talking to an accountant, or anyone actually impartial ..

    amazing how many disastrous franchises get flogged this way..

    in the overall scheme of things what…[Read more]

  • gmh454 replied to the topic Positive or Negative? in the forum General Property 11 years, 2 months ago

    I'm an accountant, one of my favourite stories is from a colleague.

    back in the early part of last decade when everyone was buying, and property was going to double every 7 years, one of his clients, bit the bullet and bought up big. (never asked the accountant first, but that is pretty usual).

    At the end of the year he had managed to completely…[Read more]

  • gmh454 replied to the topic SMSF is it worthwile? in the forum Help Needed! 11 years, 3 months ago

    taxdiva wrote:

    My accountant feels SMSF's will drive the next real estate boom!

    or maybe SMSF investing in property will drive the next accountants boom

  • gmh454 replied to the topic Purchasing overseas IP through SMSF in the forum Help Needed! 11 years, 3 months ago

    as Terry said it is possible but it depends, and those issues would take a small book, if you want more advice give more facts

  • gmh454 replied to the topic SMSF property investment borrowing in the forum Help Needed! 11 years, 3 months ago

    Richard you seemed to indicate that a 80% loan through a fund is available. Could you tell us which lender goes this high with a SMSF. Thought they stuck to around 66%.

  • gmh454 replied to the topic Sell the lemon or hold it? in the forum Help Needed! 11 years, 5 months ago

    Nigel Kibel wrote:
    Hi Mattsta

    I agree with you prices will start to rise soon however I am convinced the strong growth will be in Brisbane. So you have to look at the opportunity cost. If you sell and buy especially in a suburb within 5 km of the city center how is that likely to perform over the next 5 years compared to the Sunshine…[Read more]

  • gmh454 replied to the topic Big trouble in the forum Help Needed! 11 years, 5 months ago

    Following up on Terry's post, yeah the developer can sue you for any shortfall on the contract price, and as his "price" is guaranteed he does not need to worry.

    On one Gold Coast property they are sitting down with the buyers and trying to negotiate a decent outcome (some people say . go ahead and sue me …. and they explain to them how painful…[Read more]

  • gmh454 replied to the topic Property bloodbath? in the forum General Property 11 years, 5 months ago

    Very simplistic sensationalist view. Property is flat and will stay so for a while. Although continual building and renovation is improving the average of the  stock, real movement if any, in recent years has been minimal. Factor inflation into the mix and it may have gone backwards in many areas.

    The term bloodbath could apply to certain areas…[Read more]

  • on the GOLD COAST, not same but similar one of those giant towers had over 30% of off the plan buyers default..

    those people are now being put through the process of having their private parts crushed in a vice..

    the go ahead sue. me line is not doing much good

    people paying off the plan 1.2m for something you cannot sell for 750K, today and…[Read more]

  • also you would need to get the loans changed..

    and if the ATO looked at it (almost never) then you could have an issue with the old question of intention .. when purchased

    safe way is the divorce….

    just quietly slip the paperwork in among lots of other docs while she is watching her favourite TV show

    and I have seen it done,  wound up…[Read more]

  • gmh454 replied to the topic buy property overseas with SMSF in the forum I have just done one of these 11 years, 8 months ago

    I have just done one of these for a client, in Australia.

    plenty of equity

    lease in place

    bare thrust

    etc etc

    and it is painful, even with everything going okay

    all the people who are saying NO here are the ones who genuinely help people here, everyone else on this thread is just talking about things they know nothing about

    No, not…[Read more]

  • gmh454 replied to the topic SMSF set up in the forum Help Needed! 11 years, 9 months ago

    why do you think your personal assets are at risk with a SMSF,

    what are you planing to do with it

    and yes you do pay tax on your super contributions and profit (if it ever makes any) you obviously don't know it, but you have for years, as you fund has paid it.

    I would suggest you start reading very carefully as your current conceptions of Super…[Read more]

  • gmh454 replied to the topic Melbourne Property Values in the forum General Property 11 years, 11 months ago

    WomeninPropMelb wrote:
    No Freckle, I am not kidding. As Nigel says – this is a quick headline grab. IN my experience as a real estate agent- yes the media is about 3 months behind. When you start to hear mixed responses from the media – this means the market is turning. On Saturday evening news on channel 9 they reported that prices had in fact…[Read more]

  • gmh454 replied to the topic Is it starting to Hit the Fan!!! in the forum Help Needed! 12 years, 6 months ago

    Your comment about the lack of urgency finally hitting the market is spot on.As long as the RE industry could create a "must buy now before it is too late", they actually always had a sellers market. Factor in Gumnuts stimulating tradies, and developers and economics, rational thinking, history all could be overlooked as the sentiment fuelled a…[Read more]

  • gmh454 replied to the topic Signs of market recovering Perth? in the forum General Property 12 years, 8 months ago

    Razzaberri wrote:
    We did have one party want to make an offer that I find almost insulting and we advised our agent to tell them not to bother writing it up.

    what do you mean almost …did I come in too high ….sorry could not help myself

  • gmh454 replied to the topic Capital growth in Sydney in the forum General Property 12 years, 11 months ago

    Got to be careful in judging CG.as the bucket of property bought and sold keeps getting newer, this scews the data…eg 40 year old units sell for 400k.U beaut new units sell for 700k.one big new super duper complex (gym, pool, shiny and new) sold will scew data.yes the av price goes up, but not the price of actual RE. 

  • gmh454 replied to the topic The steps to watch for in the coming Australian housing correction in the forum General Property 12 years, 11 months ago

    emptyvessel wrote:
    The market is not crashing. It will be fine. End of story.

    you need to add "imho"and if everyone's opinion is the same as yours , …. then you are right,    ….if however everyone's opinion is otherwise, then down we will go (not arguing about the gradient of the slope here) , but down it will be, for how long …well th…[Read more]

  • gmh454 replied to the topic What I doing wrong – making offers in the forum you are pricing corerctly 12 years, 11 months ago

    you are pricing corerctly but making offers too earlystand back, and wait (think hyena or vulture) let them sit …. eventually they will be receptive..the agent who has listed it at 320 cannot put in a low offer like 260, it will look like he -a. has not advised correctlyb. given up too earlyc. is selling it too low  …. to a mate.

  • gmh454 replied to the topic Reputation of Universal Property Group or Bhatla Investments in the forum Help Needed! 13 years, 2 months ago

    Sorry, you are the guy who mentioned his back yard has shrunk. Can you tell us who made the first claim that lead you to believe your yard would be bigger, was it verbal or in writing, you saw it marked on a plan etc etc.

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