PropertyInvesting.com | kennykennykenny | Activity https://www.propertyinvesting.com/members/kennykennykenny/activity/ Activity feed for kennykennykenny. Fri, 17 Apr 2026 15:12:08 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 0c853cd60712f333b9c4eed545ff19d9 kennykennykenny replied to the topic Using another person's LOC to purchase in the forum Help Needed! https://www.propertyinvesting.com/topic/4992994-using-another-persons-loc-to-purchase/#post-4993085 Sat, 26 Jul 2014 05:37:02 +0000 Hi Jamie,

Do you mean a written loan agreement? If you do then no, we don’t, only verbal. Does it have to be written?

Cheers,

Kenny

]]> 411c2915b50f7d672773d8c1f74e3a0c kennykennykenny replied to the topic Using another person's LOC to purchase in the forum Help Needed! https://www.propertyinvesting.com/topic/4992994-using-another-persons-loc-to-purchase/#post-4993046 Thu, 24 Jul 2014 20:40:56 +0000 Thanks for your answer Richard. I’m still learning about the intracacies of property investing and learning a lot on these forums. Cheers!

]]> d5b9eae9bf772ee08c2c59ca9860d353 kennykennykenny replied to the topic Using another person's LOC to purchase in the forum Help Needed! https://www.propertyinvesting.com/topic/4992994-using-another-persons-loc-to-purchase/#post-4993027 Thu, 24 Jul 2014 03:42:12 +0000 Anyone else with an answer?

]]> 436f7c9bd196e716350b6785e50fab4a kennykennykenny replied to the topic Using another person's LOC to purchase in the forum Help Needed! https://www.propertyinvesting.com/topic/4992994-using-another-persons-loc-to-purchase/#post-4993019 Wed, 23 Jul 2014 06:32:21 +0000 Hi Jamie,

Sorry but I think I made the question confusing and misleading. My mother-in-law took out a LOC; my partner and I bought an IP using $70000 borrowed from that LOC. My mother-in-law has nothing to do with the IP my partner and I purchased. Does that make sense? She lent us that $70000 taken from her LOC. Only my partner’s and my name are…[Read more]

]]> f3e8d53f259d2e29ebff9fa82ee474e5 kennykennykenny replied to the topic Using another person's LOC to purchase in the forum Help Needed! https://www.propertyinvesting.com/topic/4992994-using-another-persons-loc-to-purchase/#post-4992999 Tue, 22 Jul 2014 23:30:35 +0000 Thanks for answering Mark. I had some bad advice from a previous accountant so I am a bit wary this time. I didn’t want to claim for something that I wasn’t entitled to so I wanted to double check.

]]> 287dd1e9b77be473fcd642dcadfc998e kennykennykenny started the topic Using another person's LOC to purchase in the forum Help Needed! https://www.propertyinvesting.com/topic/4992994-using-another-persons-loc-to-purchase/ Tue, 22 Jul 2014 22:26:39 +0000 Hi guys, I have a tax deduction question that I’ve not seen asked before.

Last financial year, my mother-in-law took out a LOC against her fully paid off IP. We borrowed from her LOC $70,000 to use as a deposit for purchasing an IP. Is the interest charged to her on this $70000 tax deductible for us? I assume it is seeing we are borrowing this m…[Read more]

]]> 69aab6a992cd9a0199e78693b88f2a58 kennykennykenny replied to the topic Tax question in the forum Help Needed! https://www.propertyinvesting.com/topic/4992543-tax-question-8/#post-4992567 Mon, 07 Jul 2014 22:57:03 +0000 Thanks for everybody’s answers. I guess IP holding costs eat into rental income and there’s no way around that.

]]> ca279d97286fb318e7c9560d935d80a4 kennykennykenny started the topic Tax question in the forum Help Needed! https://www.propertyinvesting.com/topic/4992543-tax-question-8/ Mon, 07 Jul 2014 01:40:59 +0000 I love reading this forum and getting inspired by the amazing people on here, so I thought I would ask this tax question which has been puzzling me.

I have been using various online income tax calculators (including the ATO’s) to work out an approximation of my tax return this year, and they all seem to give around the same result so I guess…[Read more]

]]> 920f45ce0710975d57502934bcc94d58 kennykennykenny replied to the topic Overcharging handyman in the forum Help Needed! https://www.propertyinvesting.com/topic/4409650-overcharging-handyman/#post-4692974 Wed, 03 Jul 2013 18:43:35 +0000 Thanks to everyone for their valuable comments. It is a good lesson learned and I will be careful in the future about authorising such work without getting extra quotes. And The Dark Knight hit it straight on the head, it is regional Victoria!

]]> de6631f421d85c4c4fd0f26766a7a86e kennykennykenny replied to the topic Overcharging handyman in the forum Help Needed! https://www.propertyinvesting.com/topic/4409650-overcharging-handyman/#post-4692965 Wed, 03 Jul 2013 08:21:22 +0000 Hi Jamie,

It was over $2000. I'm concerned he took way too much time since they all charge by the hour.

Cheers,

Ken

]]> 7fe469568888f97a40f97c9a696c8c42 kennykennykenny replied to the topic Inheritance and Capital Gains Tax in the forum Help Needed! https://www.propertyinvesting.com/topic/4409164-inheritance-and-capital-gains-tax/#post-4689675 Sun, 14 Apr 2013 05:40:41 +0000 Thanks Richard and Terry.

]]> 486e3101ab6541ac7b877c3d84aada46 kennykennykenny replied to the topic My little girl :-) in the forum Forum Frolic https://www.propertyinvesting.com/topic/4409163-my-little-girl/#post-4689647 Sat, 13 Apr 2013 00:16:29 +0000 How lovely. Congrats!

]]> 8a7c4953798fc6ff1323274ea5f9219f kennykennykenny replied to the topic Investment property abutting industrial area in the forum Help Needed! https://www.propertyinvesting.com/topic/4409105-investment-property-abutting-industrial-area/#post-4689293 Thu, 04 Apr 2013 20:55:43 +0000 Thanks for your suggestion bugeye. That's something I have not considered either. Good tip.

]]> 11a482c554da8232f10163e78c807afc kennykennykenny replied to the topic Investment property abutting industrial area in the forum Hi Scott, https://www.propertyinvesting.com/topic/4409105-investment-property-abutting-industrial-area/#post-4689292 Thu, 04 Apr 2013 20:54:39 +0000 Hi Scott,

Thanks for your response.

The house is in a residential zone, and behind the property there are light industries on a large block of land. You wouldn't even know there was an industrial area at all because all the buildings in the industrial zone are low.

The upside is that the property is easily manageable and sits on subdivideable…[Read more]

]]> d3f851d90a51609e8ee53a77ea3385be kennykennykenny replied to the topic Exorbitant solicitor charge in the forum Help Needed! https://www.propertyinvesting.com/topic/4409054-exorbitant-solicitor-charge/#post-4688938 Thu, 28 Mar 2013 04:30:00 +0000 Thanks Terry.

]]> 4bb2ea16687aee730ebcdc6b5f937f9e kennykennykenny replied to the topic Exorbitant solicitor charge in the forum Hi Terry, https://www.propertyinvesting.com/topic/4409054-exorbitant-solicitor-charge/#post-4688936 Thu, 28 Mar 2013 02:39:02 +0000 Hi Terry,
I would have thought "near the start" would mean when we gave the contract and Section 32 to the solicitor to peruse, not after they've had the contract amended and we've all signed it. Anyway, we have not signed the costs agreement yet because we only received it yesterday, two weeks after engaging the solicitor to do the…

]]> bf41ee08648c60572fdc3c875cc0304e kennykennykenny replied to the topic Exorbitant solicitor charge in the forum Help Needed! https://www.propertyinvesting.com/topic/4409054-exorbitant-solicitor-charge/#post-4688934 Wed, 27 Mar 2013 19:30:38 +0000 We did receive a costs agreement, but not at the beginning when we engaged their services. We only got a costs agreement and disclosure statement halfway through the process (after contracts exchanged and deposit for the property was paid). If we cancel their services now, they will charge me for the work they've done up till now; can I challenge…[Read more]

]]> 3d15066c9e0cc9b031e14146f0c3f6bd kennykennykenny replied to the topic Exorbitant solicitor charge in the forum Help Needed! https://www.propertyinvesting.com/topic/4409054-exorbitant-solicitor-charge/#post-4688932 Wed, 27 Mar 2013 09:55:27 +0000 Thanks for your comments everyone. I might get a quote from someone else, but lesson learned. So many to learn on this property investing caper!

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