I am just about to sign a management agreement for a RE Agency to manage 1 of my IPs.
It clearly states on the agreement that they are not registered for GST. Neither am I.
Are they able to charge GST on their management & administrative fees each month? I wouldn’t have thought so. Can anybody enlighten me? I have just noticed they have been…[Read more]
hydramax replied to the topic In a Family Trust Can you rollover current year loss to the future in the forum Help Needed! 1 year, 7 months ago
I don’t think you can carry losses over in a trust.
Thankyou for allowing me to post this request for help. Recently I have been successful in obtaining bank funds to purchase another IP. The purchase is a house on the Nth Beaches of Sydney. However trying to arrange a valuation report has been difficult. I am being told by the Mort Managers who approved the finance that the bank panel valuers will…[Read more]
with OTP investing what guarantee do you have that the developer won’t go bust. Irrespective of how big or how small.
Huge risk unless you think it reasonable to lose the insurance premium for a Deposit Bond.
Really sorry to hear about your unfortunate situation. Must be very upsetting. But my experience in the past with insurance companies now entails me before applying for any type of insurance asking for a copy of the PDS. I then print it out and take the time using a pen to scrutinise every paragraph on every page. It is a monumental…[Read more]
hydramax replied to the topic car leasing Vs buying it outright , impact on borrowing capacity. in the forum Finance 3 years, 11 months ago
If you were to concentrate on buying your IP after a short while you would soon see the advantages, and how quickly you can create wealth by valuing and respecting the $$$. I know it’s harsh but once you reach that point you will soon forget about spending big on a motor car. Any vehicle lease would put a large dent in your serviceability. I know…[Read more]
hydramax replied to the topic Problem with First Home Owners Grant, I have not received it yet. in the forum Help Needed! 8 years, 5 months ago
From my experience with the SRO you need to make at least 3 phone calls and speak to 3 different people re your problem to get an understanding as to whether any of them have any idea re your query. If 2 give you similar answers you may be able to move forward from there, but even then it doesn't mean they understand what's correct / not c…[Read more]
hydramax replied to the topic Extra Repayments with Redraw (Basic HomeLoan) vs Variable with Offset in the forum Finance 9 years, 2 months ago
Is their a minimum amount for each redraw and have you checked if there is a fee attached each time?Hydra
hydramax replied to the topic Help Please – Have we lost the Main Residence Capital Gain Tax Exemption? in the forum Help Needed! 9 years, 2 months ago
Jenny, Because it is a family member the ATO may consider it board and lodging and not being rented per se.I'm sure a forum member who knows for certain will answer your query shortly.Hydra
hydramax replied to the topic Potential first investment- do these numbers look ok? in the forum Help Needed! 9 years, 2 months ago
Tuff-etMight want to find out from the bank if your pre-approval has passed the LMI's. This normally requires all documents including a street address. Just be careful, a pre-approval from the bank can still get knocked back from the LMI. I don't mean to be negative but you need to find out for sure before committing to borrowing 80%+.Hydra
Hi Vitale,Has your bank done a valuation or did they just give you a guestimate? The others are correct in saying it is pointless in getting your own valuer. Also if your looking at borrowing against the equity it might be wise not to go over the 80 LVR incurring LMI as I believe the valuers are aware of the circumstances for the valuation and wi…[Read more]
Make sure you keep logging on to this forum, you will be amazed at the knowledge you pick up.Even trolling through the inactive posts for research will surprise you.But I would definately be starting with residential. Good Luck!Hydra
I really don't believe rates will rise before xmas. Remember the bank's economists have a self interest in promoting interest hikes as it pushes people into fixed rates-great for the banks. Rates are definately going to rise but I believe it will be early next year. People will stop spending as soon as the first hike even if it's only 25 points, I…[Read more]
daniel_73I know a property development / real estate group building at present in Essendon. they advertise a capital return of 28% over the initial 3 years. They produce a 40 page investment pack and units start at $375k. Email firstname.lastname@example.org for details.Hydra
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