Total Members: 158,346

imugli

  • imugli replied to the topic Another young couple after advice in the forum There is a CGT exemption on 14 years, 11 months ago

    There is a CGT exemption on your Primary place of residence. With any 'investment' – property, shares, whatever – you pay tax at your marginal rate on any profits (capital gains) realised when you sell. If you hold the investment for more than 1 year, you only pay CGT on half the gain. You don't pay CGT at all on your PPOR (if held for more than 1…[Read more]

  • imugli replied to the topic Internal Cavity Sliding Door – How do I remove one? in the forum Value Adding 14 years, 11 months ago

    Thanks Tools, Found the 2 screws last night. Appreciate your help. J

  • imugli replied to the topic How long from 1st property to 2nd?? in the forum Value Adding 14 years, 11 months ago

    Different story again… My wife and I had our PPOR for about 2.5 years before we purchased IP #1 in October last year. Before we did though, we set up a Family Trust to hold it (and future properties) under and used my existing company as Trustee. Purchased in country Vic for approx $73000 with 20% down and it's CF+ as we speak. It's small time…[Read more]

  • imugli replied to the topic How should we proceed in the forum Help Needed! 14 years, 11 months ago

    Ptialv, Sorry it's taken so long to get back to you. It sounds like you have the strategy worked out and by now you should have the structure firgured out. What advice did your accountant give you re structure? For mine, given that you're looking for a positively geared property and a buy and hold strategy, a family trust may be beneficial. Reason…[Read more]

  • imugli replied to the topic Vendor delay settlement. i was charged with rental?!?! in the forum Legal & Accounting 14 years, 11 months ago

    keiko wrote:
    I would definitly never use that solicitor again, sometimes it pays to pay extra for a top solicitor and then you get a top job.

    Couldn't agree more. I pay my solicitors top dollar and they are worth every cent. They are there every step of the way and do an excellent job.

  • imugli replied to the topic How should we proceed in the forum Help Needed! 15 years ago

    First things first – what research or preparation have you done to this point? Do you have a goal or strategy in mind and if so what is it? Is it tax reduction or passive income? Is asset protection a priority? Are you looking to buy / renovate / sell or buy and hold? Have you spoken to your accountant / financial advisor / lawyer and set up legal…[Read more]

  • imugli replied to the topic Business/Personal expenses through a trust in the forum Legal & Accounting 15 years, 6 months ago

    I think (but don't quote me) that if you use something claimed by the company as an expense for personal use, you need to include this as a fringe benefit, and therefore that part is actually taxable. For instance, I was thinking of purchasing a couple of football memberships and claim them as client entertainment expenses. If I was to use the…[Read more]

  • imugli replied to the topic First IP in the forum Help Needed! 15 years, 6 months ago

    It really depends on your investment goals / objective as to whether negative gearing is a good choice. Before you start looking at places, make sure your objective is clearly defined (owning an IP is a goal, yes, but WHY do you want to own one? What is it a means to? Is property the best way of achieving it?) and that you have the correct legal…[Read more]

  • imugli replied to the topic i’m snowy and new in the forum Finance 15 years, 7 months ago

    Hi Snowy, enjoy your stay!First words of advice – Define your objectives. Research. Research. Research. Get advice. Put the correct structure in place.Refer Number 2.  THEN start looking. Investing in property, just like the property we invest in, needs a solid foundation.

  • imugli replied to the topic finance in the forum Help Needed! 15 years, 7 months ago

    Dr.Spock wrote:
    Phoned around and found out about structure eg trust, – was advised not to have my name anywhere near the trust. eg not even to be a trustee, So now I am even worse off than before. It looks like at this stage that I am not ready to get started. I am a believe that were there is a will there is a way, back I don't know my…[Read more]

  • imugli replied to the topic Trust & Corporate trustee… Can you set it up yourself???? in the forum Legal & Accounting 15 years, 7 months ago

    Terryw wrote:
    Hi ImugliANZ and their mortgage insurers can be fussy about this sort of thing. I think if you went to another lender such as St George, there wouldn't have been a problem. Surely a spouse will gain a benefit – from being the spouse as well as being a beneficiary of the trust.

    You would think so, wouldn't you? ANZ themselves were…[Read more]

  • imugli replied to the topic Which countries can australians buy property in the forum Overseas Deals 15 years, 7 months ago

    Fiji you can as a non resident, but you need a permit from their foreign investment board if you want to rent it out I think…

  • imugli replied to the topic Trust & Corporate trustee… Can you set it up yourself???? in the forum Legal & Accounting 15 years, 7 months ago

    In my (limited) experience, they will take a personal guarantee from the director/s of the trustee company and, if they are not satisfied with the servicing ability of said directors they’ll ask for a third party guarantor.

    The problem we had was when I got to the LMI stage, the insurer wasn’t satisfied that the said guarantor was gaining enough…[Read more]

  • imugli replied to the topic Turning Private Property into Investment Property in the forum Legal & Accounting 15 years, 7 months ago

    This thread seems to have become the community trough from which people are drinking advice on this matter from… Perhaps one of the mods could make it a sticky?

  • imugli replied to the topic Trust & Corporate trustee… Can you set it up yourself???? in the forum Legal & Accounting 15 years, 7 months ago

    The company need only have 1 * $1 fully paid share. If you're mother is also investing capital in the trust, perhaps it would be best to set a hybrid trust. That is, a trust that is partly defined by units and partly discretionary. That way each persons share of any capital gain is clearly defined as a percentage based on how many units they own,…[Read more]

  • imugli replied to the topic Starting Out In Property Investing in the forum Legal & Accounting 15 years, 7 months ago

    Sounds to me like a trust will be the best structure but best you do lot's of reading first. The books you read will give a start on your accountant questions. Simply telling your accountant your objective should be enough for him to recommend something, but his time is your money so best to have an idea first. He can advise you the pro's and cons…[Read more]

  • imugli replied to the topic I need help with my numbers guys… in the forum Help Needed! 15 years, 7 months ago

    Welcome, aegcp – enjoy your stay! Whilst I'm sure someone here will have a spreadhseet, perhaps it may be worth your while purchasing a property investment analisys program – I use one from Somersoft and love it but there are plenty around. Expect to pay for it but it'll be worth it in the long run.

  • imugli replied to the topic Starting Out In Property Investing in the forum Legal & Accounting 15 years, 7 months ago

    LnM wrote:
    To get started, I'd like to know what type of entity should I do my property investing under. If I'm going to do it with some family members or friends and would like to register a business, what is our best option and why?The same question applies if I do it with my wife.

    First of all, welcome!Unfortunately, the question you ask is…[Read more]

  • imugli replied to the topic Turning Private Property into Investment Property in the forum Legal & Accounting 15 years, 8 months ago

    AnthonyJF wrote:
    Correct me if i am wrong, for example if I currently have a mortgage of $170,000 and the value of the property is $550,000 and I decide to refinance the mortgage, before I purchase another property, so that the mortgage shall become ie $300,000. I'll still only have $170,000 to pay but with $130,000 sitting there draw upon. So…[Read more]

  • imugli replied to the topic Loan structure in the forum Finance 15 years, 8 months ago

    Sounds like you’ve skipped at least 2 steps in a solid investment plan… Before you consider the best loan structure, consider your objectives first and then your ideal asset structure.

    Talk to your accountant and read lots of books for these. Education and preparation are everything. Just like the house you’re planning to buy, if you don’t have…[Read more]

  • Load More

imugli

Step 1 - 0% Complete

Fill Out Your Member Profile Below

Fill in the required fields below to complete your registration.

Registration not only grants you full access to this website, but will also enable us to send you our newsletter, latest investor tips, strategies and information about events/products relevant to investors. You can opt out at any time.

Used to log in to the website and for targeting with messages. Alphanumeric characters only. No spaces allowed..

Member Login
Lost your password?
×
158,346

Register Free To Unlock Unrestricted Access To PropertyInvesting.com

×
1-Day Millionaire Mastermind Workshop - Only LIVE Training in 2019!