[hsingh10Member@hsingh10Join Date: 2009Post Count: 21]

July 12, 2011 - 12:47 am

Thanks everyone for your inputs. We agreed on the Seller paying the Stamp Duty as we were running short on the Cash (Deposit etc) to put in. If we reduced the price, still the bank would only give us 95% of the Purchase Price. So, we decided to go for this (which was actually offered by the seller). I believe it is win-win for all. 

[hsingh10Member@hsingh10Join Date: 2009Post Count: 21]

July 11, 2011 - 4:15 am

Thanks naughtyj for the information. I am in QLD. I believe based on the detail information provided, since the land here is owned completely, it would be capital expense. Cheers. HS.

[hsingh10Member@hsingh10Join Date: 2009Post Count: 21]

July 11, 2011 - 3:15 am

Thanks JACM and Portfolio Pl for your response and clarification. Portfolio Pl, it is a desperate sell but I believe that it is worthwhile based on our due deligence. Basically, the property can be sub-divided and is located close to Uni and the CBD. I hope that our due deligence pays off.

[hsingh10Member@hsingh10Join Date: 2009Post Count: 21]

April 12, 2011 - 5:28 am

Any suggestions on an economical place to buy Paints or Kitchen parts apart from other than Bunnings in Brisbane. Would appreciate any information. In the process of doing a renovation but extremely tight on the budget. Thanks in advance everyone.

[hsingh10Member@hsingh10Join Date: 2009Post Count: 21]

April 9, 2011 - 10:53 pm

Thanks Ryan for your valuable information. The information you provided has been really helpful. To Answer your questions:

Do you have a lot of assets that you need to protect? No
 
Are you vulnerable to a law suit? No
 
Is the property going to be positively cash flowed. Not at the start but main purpose of this deal would be to subdivide and gain a profit in 6-12 months.

One other query I have is how does the CGT work on a Trust or Individual names. Could you please advise whether the maximum CGT payable on the IP is going to 30% or 50% if we sell the property in less than 1 year or more than a year. Thanks once again in advance for all your help.

[hsingh10Member@hsingh10Join Date: 2009Post Count: 21]

April 7, 2011 - 4:02 am

Hi Richard,

Thanks for your response. I am just meeting up with the Accountant to find the best way to structure the loan (trust or joint). Finance will be done by a broker or directly contacting the bank. Please feel free to advice.

[hsingh10Member@hsingh10Join Date: 2009Post Count: 21]

June 20, 2010 - 10:39 pm

Thanks Everyone for your valuable information. I was kind of 50-50 to move or not but I believe that based on the information provided here, I should stick my current lender (CBA) as in the longer term it may not be worthwhile. I wish there were no exit fees (would make the decision easier )

[hsingh10Member@hsingh10Join Date: 2009Post Count: 21]

February 11, 2010 - 1:52 am

I am also looking to self manage my property. I have found some helpful links to self manage property in QLD. Hopefully that helps

http://www.rta.qld.gov.au/eforms_list.cfm

 

http://www.rta.qld.gov.au/renting_in_qld_fs.cfm

[hsingh10Member@hsingh10Join Date: 2009Post Count: 21]

May 1, 2009 - 1:29 am

Fantastic. Thanks Elka for confirming this for me. I read somewhere that if you initially settled the property as PPOR and moved in it & then rented it for less than 6 years than CGT is waived off. Brilliant !!

[hsingh10Member@hsingh10Join Date: 2009Post Count: 21]

April 30, 2009 - 11:23 pm

Thanks Kevin and Elka. I really appreciate your response.

One more thing, if I decide to sell the house after 2-3 years, will there be any CGT on it at all? Thanks in advance

[hsingh10Member@hsingh10Join Date: 2009Post Count: 21]

February 4, 2009 - 12:39 am

Thanks for the advice Terry & TheBish. I have calculated the difference and it seems to me that I will paying a lot more in the longer run. We have only one source of income which makes it nearly impossible to do any extra repayments after all the living costs. I think I will have to take a risk of waiting and hoping that we have 2 source of income soon.

Cheers.

[hsingh10Member@hsingh10Join Date: 2009Post Count: 21]

January 21, 2009 - 2:18 am

Hi Jins13

It is a big house…more than 100 sqm. Thanks in advance….

[hsingh10Member@hsingh10Join Date: 2009Post Count: 21]

January 20, 2009 - 1:08 am

any advice is most welcome, please…