lifeX replied to the topic Vacant property, how do I find the owner to make an offer? in the forum Help Needed! 8 years, 5 months ago
I assume you have posted a letter to the address you are interested in.
It would then redirect to the owner.
And they could then reply if they are interested.
Great questions for those that ponder them honestly and carefully. Thankyou!
Personally I have to say that I invest in property because i think that I am getting more from it than what I am actually putting in.
Basically selfish gratuitus greed.
Please let everyone know however that I may consider small insignificant donations to…[Read more]
I think everyone needs to bite on LMI to get started.
But after a few years the equity in your properties should be enough to set up LOCs to pay that extra 20% and avoid the LMI sting.
In the long run, the thing that holds you back is actually serviceability.
Funny, I remember thinking of every idea under the sun to buy property with no…[Read more]
You need to keep an eye on the GST when regularly developing (ie: more than once),
Ie; Dual Occ Sub divisions,
Or even major reno’s ……..
My understanding was that you may have to charge some GST on the price you sell for , in these circumstances.
… And that now the ATO considers you to be in the business of developing,…[Read more]
I agree due diligence would have covered me, so this is now on my list.
I am not convinced that views aren’t a legal issue, I know of a few council and building regs that clearly define and protect views of existing properties, especially in new development estates.
Views are easily quantified as a dollar value, every valuation has an…[Read more]
In Vic, you would likely give the Agent 5% commission just for selling the place.
You would pay 5-6% in government costs to buy the new house (about double Qld. Stamp Duty Rates)
Moving costs and incidentals would be insignificant.
… And Just to confuse you more, consider market moves.
If you sell and then start looking for a new…[Read more]
Is this the tax you are referring to W4L?
It is a NSW State tax according to article.
lifeX replied to the topic Greece & The European Union… Crisis Averted Or Impending Doom in the forum Very Interesting comments.
9 years, 1 month ago
Very Interesting comments.
If all the central banks and major economies are printing money faster than ever before, surely the value of money has to be decreasing at the same rate.
This would resolve all the government debt. issues as their debt would be reduced to nothing.
History tells us that this is what governments do when they have no…[Read more]
lifeX replied to the topic renters liability in rented house ? Don’t knw if anyone offer this type of insurance? in the forum Legal & Accounting 9 years, 11 months ago
You would only have to take out a public liability cover…. the same one that a homeowner takes out with their landlords insurance. You do not have to take out cover for replacement of the building.
We do this with a rural property that has no dwelling, to cover us as landlords if someone is injured on the property. You could take out the same…[Read more]
Extremely useful info – will keep your services in mind and pass on your contact details
Rule of thumb for servicability:It used to be that the banks would lend to full time workers as long as the loan repayments were not more than 30% of your AFTER tax income. So as a rule of thumb you would need $400 p.w to cover the interest repayments on loan. And an income after tax p.w. of about $1350. Banks usually like a deposit of 20% +…[Read more]
You can have a certain amount of land in any one persons name before you incur land tax in Vic. I think it is about $300k or so.-remember it is only the land value, not the value of the buildings on it that is counted. So if you already have land in your name, simply put the property into the name of a different family member. You could poten…[Read more]
here is a pretty comprehensive rundown of what income and expense factors I look at for a property purchase.Don't forget to allow for income and benefits of the following when calculating the total value to you from this investment.Gross Rental Yield, Depreciation Benefits,Negative Gearing Benefits,Capital Growth Other income generated from this i…[Read more]
I'd be taking your problem up with the purchaser. Your losses now are due to them not fulfilling their original obligation in a signed contract of sale. If they had originally signed a contract for settlement in early April, and you are now incurring a loss because they have been jerking you around, they could be liable. Even if you re-signed wit…[Read more]
If you have a property in your own name already, you will probably find that moving the other properties into your name would make negligible difference to the land tax payable, as the more land in your personal name , the higher the percentage of land tax anyway. Remember also that land tax is a deductible expense. If I were you, I'd leave it…[Read more]
Thanks for the link traceyWould love to know if anyone has successfully sold their property privately for a price they wanted. Or purchased a property cheaply from a service like this. My thoughts were that anyone selling in this way usually expected way too high a price and never made a sale.Correct me if I am wrong.
lifeX replied to the topic Centrelink (or ex) employees maybe, or, anyone with acreage? in the forum Legal & Accounting 10 years, 1 month ago
Could they instead put their rural retreat into a "Trust" with their kids/grandkids as beneficiaries. Then they technically do not own it.
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