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House Call

  • House Call replied to the topic Car V House in the forum Finance 12 years, 6 months ago

    Are you likely to one day move out of the house?  In that case, the more you still owe on it the better when it becomes a rental income source and you can claim the interest owing on it.  I agree with hbbehrendorff above about cars-they are a money hole.  Assuming both are not tax deductable, I would suggest pay that loan off in total, then if yo…[Read more]

  • House Call replied to the topic Negative gearing and trusts in the forum Legal & Accounting 12 years, 7 months ago

    Terryw wrote:
    Also consider buying property in a fixed unit trust. It is possible to borrow to buy units in the trust and the interest from the loans on the units can be used to offset personal income tax. Later the units can be redeemed by the trust and the trust can become a discretionary trust. It is possible to do this without stamp duty…[Read more]

  • House Call replied to the topic Anyone investing in Gagebrook in the forum General Property 13 years ago

    onthemoney wrote:
    During the last 3 years there has been a 26% growth in house prices with an average annual over the last 10 years of 12.8%.

    Wouldn't this therefore make it a good area to invest in as the numbers stack up very well?   great capital growth, good rental yield.Remembering of course that you are not going to be the one to live t…[Read more]

  • I've got it now.  Koeiyan started a new thread by accident, when trying to post a new response on this thread:, to continue the same conversation, enter your message in the box down the bottom under the words "Post new comment".  Then it keeps all the entries in t…[Read more]

  • House Call replied to the topic ?? pls explain the term—- alternate uses? in the forum Help Needed! 13 years ago

    koeiyan wrote:
    alternate uses???  thank you

    I am guessing on a property investing forum you are referring to alternate uses for property.  Eg if you buy a studio in a large building that does not have the projected tenancy and lies vacant for ages, then does the studio have an alternate use-eg as an office/storage facility etc so that you s…[Read more]

  • House Call replied to the topic So what rate interest rate are you getting in the forum god_of_money wrote:hi 13 years ago

    god_of_money wrote:
    hi richard i think it is a possibility to get 0.9% disc for >1 million loan with low lvr

    Hi GOM, how low is a "low lvr"?

  • god_of_money wrote:
    you still can get NAB choice package for 6.77%. Anyone got better rates. nab can offer 1% below variable rates.

    I have a 6.87% with NAB Choice package, by negotiating an extra 0.1% off their existing 0.7% discount with choice pak.  Have just added another loan at same rate with NAB today but bargaining with them on basis of…[Read more]

  • Did Steve McKnight buy and hold all those properties?  I was under the impression he often bought, altered, sold at profit then used the proceeds to  do the same thing with more cash and repeated this a few times.(or a lot of times), which would have bumped up his property count without actually increasing the total owned by as much.  Also in hi…[Read more]

  • House Call replied to the topic A good place to be in the forum Help Needed! 13 years ago

    DHCP wrote:
    Hello Blind67I encourage you get some education first (e.g. attend seminars, read books, get mentoring etc). You need to define EXACTLY what you are trying to achieve. Therefore, you need to have a GOAL and that goal must be precise, measurable and has DEADLINE.For instance, first define precisely your goal is then work backwards. …[Read more]

  • House Call replied to the topic A good place to be in the forum Help Needed! 13 years ago

    If you have a house worth $600k paid off then you could obtain an 80% LOC loan secured by your house (ie  $480k) which you can then use as deposits for your investment properties.  The bank will loan at least 80% of their value, so working on the principle that the LOC loan covers 20% plus approx 5% purchase costs, you could go out and buy up to $…[Read more]

  • House Call replied to the topic How do you keep your paper documents organized? in the forum Help Needed! 13 years ago

    I have a large ring binder for each IP ($1.70 at Big W), then some coloured divders within that.Back compartment is purchase documentsNext one is loan set-up one is ongoing bank statementsnext one is management agreement and management statements/correspondence and also the quantity surveyor's  tax depreciation schedulenext one is…[Read more]

  • House Call replied to the topic MOURA, BLACKWATER, MORANBAH in the forum General Property 13 years ago

    coalstar wrote:
    Blackwater has been going gangbusters recently, theres literally nothing available for rent during the past 2 months. The next Moranbah for sure, especailly with the expansion of the CSG industry. Bow energy is building a power station there which will push rents and prcies even higher!

    Do you people think Moranbah still has…[Read more]

  • Terryw wrote:
    Well, actually it depends on the type of trust. I had assumed it was discretionary.But if you are using a unit trust it may be possible to claim a deduction, in personal income, for a loan used to buy units.

    It is a discretionary family trust

  • Terryw wrote:
    Long answer is YES.2. The trust can claim a deduction for the interest.

    As in the trust can claim a deduction , but I cannot (which was my question).(By the way thanks for your help and advice again.)

  • Terryw wrote:
    Just think it thru clearly step by step.Firstly you and the trust are separate people for tax purposes, say you = A, trust = BNow if A borrows money and gifts it to B. There interest would not be deductible for A as you cannot claim interest on a gift.If A borrows and then lends to B. A will be charged interest by the bank. If A…[Read more]

  • House Call replied to the topic How does it work? in the forum Help Needed! 13 years, 1 month ago

    naledge wrote:

    Yeah, I think my commitments will get in the way too. Uni takes a lot of time, so I can't work full-time. Although I could afford mortgage payments, it'll probably take me a while to get all the money I need for the deposit and added costs. Plus I'm planning on investing in a managed fund soon ($1,500) and going on a trip to…[Read more]

  • Catalyst wrote:
    Sounds great to me. All the ripping out is done so you have a blank surface to work with. First thing order the kitchen then get the bathroom plumbed and sheeted. The bathroom seems to always hold up finishing (in my experience) as it takes the most time (plumb, resheet, waterproof, tile, install toilet, shower etc. You need to…[Read more]

  • Jamie M wrote:
    Dolf De Roos has a basic book on easy reno's that add value. I can't remember the name of it though. Bunnings has some nifty DIY factsheets that seem to come in handy for renos. Youtube can be good as well – I learnt how to tile watching a few youtube clips!

    Youtube is excellent.  You're right.  I learned how to take apart old s…[Read more]

  • House Call replied to the topic 2009 how did you do in the forum Commercial Property 13 years, 1 month ago

    Jamie M wrote:
    Hi HousecallGood story. It's funny how certain events can change things so dramatically! Seems like breaking your toe worked out for the best!CheersJamie

    Yes Nearly gave myself the Username "Fractured Phalanx"  but maybe a bit too obtuse.

  • House Call replied to the topic 2009 how did you do in the forum Commercial Property 13 years, 1 month ago

    started 2010 with no interest in property, other than owning PPOR and my business building.  Broke toe in January 2010 and could do nothing but read.  Ended up reading money magazine and finally understood the power of equity.  Devoured every property book and mag I could get my hands on then me and the Mrs bought 2 interstate IPs and one lo…[Read more]

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