PropertyInvesting.com | luckyone | Activity

luckyone replied to the topic Sweet story in the forum Forum Frolic

Sat, 28 May 2005 02:04:49 +0000

That’s just wonderful, Dazzling!

Thanks,
Luckyone

luckyone replied to the topic Land Valuation & Land Tax a Joke in the forum No Subject

Tue, 12 Apr 2005 02:50:17 +0000

For the ACT, there is the Property Owner’s Association. You can e-mail them at POAACT@computing.net.au to join their mailing list and add any comments you like to the current discussion. I’m sure there are similar lists for other states and territories.

Thanks,
Luckyone

luckyone replied to the topic Greetings all in the forum Forum Frolic

Thu, 24 Feb 2005 08:25:51 +0000

Welcome back Bear! I was wondering where you had got to. Good to hear you’re all better now.

Thanks,
Luckyone

luckyone replied to the topic comprehensive car insurance? in the forum Opinionated!

Thu, 24 Feb 2005 08:24:35 +0000

It might be worth your time to try AAMI as well. I find them to be quite competitive with their rates.

Thanks,
Luckyone

luckyone replied to the topic What happens when I default on a contract? in the forum Legal & Accounting

Fri, 11 Feb 2005 07:29:29 +0000

You would lose your deposit (whatever is written into the contract for this amount, usually 5%-10% of purchase price). Also, you would still have to pay your solicitor’s fees.

If you don’t have preapproval NEVER go into a contract without a finance clause. You just never know what the banks might see as a problem that you hadn’t…[Read more]

luckyone replied to the topic NZ Trusts in the forum Overseas Deals

Fri, 11 Feb 2005 05:57:18 +0000

Originally posted by shar30441:
Yes. See ID2002/764 in the ATO legal database. I can’t get the link to show up properly here, but go to the ATO legal database at http://law.ato.gov.au/atolaw/search.htm and use the search function on “2002/764”.

This is the link to the document mentioned above if you are…[Read more]

luckyone replied to the topic Game: What would you do if ...? in the forum Forum Frolic

Fri, 11 Feb 2005 04:21:27 +0000

I would spend about $500K on a very nice house and would invest the rest in real estate + shares.

Next question:-

2. If you achieved financial freedom so that you no longer needed to work, what would you do with all the extra time?

Thanks,
Luckyone

luckyone replied to the topic A question on stamp duty in the forum Help Needed!

Tue, 08 Feb 2005 23:43:35 +0000

Here’s a stamp duty calculator for you:-

http://www.yourmortgage.com.au/calculators/stamp_duty/

Thanks,
Luckyone

luckyone replied to the topic CGT from bank valued property in the forum Help Needed!

Mon, 07 Feb 2005 05:07:08 +0000

Thanks for that Jo. So to determine the value of the property at the time I moved out, will the bank valuation be enough for that?

Thanks,
Luckyone

luckyone replied to the topic catch 22 in the forum Help Needed!

Thu, 03 Feb 2005 03:49:04 +0000

Have you thought about buying the place in Brisbane in a trust and renting the property from the trust for you and your partner?

Thanks,
Luckyone

luckyone replied to the topic Sell Residential or Hold and Invest in the forum Help Needed!

Mon, 31 Jan 2005 04:08:36 +0000

Have you thought about setting up a trust and putting your two existing properties into it? You will have to pay CGT and stamp duty, but it may be a better option than searching for other equally as good investments.

Thanks,
Luckyone

luckyone replied to the topic How did you meet your soul mate? in the forum Forum Frolic

Mon, 24 Jan 2005 06:28:27 +0000

I met mine through a mutual friend who told me that my now husband was a druggie and that I shouldn’t go near him. I stayed away from him for 18 months, but then realised that he was actually OK. We went out on our first date that night and we’ve been together ever since. We’re married now too.

Thanks,
Luckyone

luckyone replied to the topic Intro and pension question in the forum General Property

Tue, 11 Jan 2005 08:05:33 +0000

Maybe she would be better off investing in managed funds or a property trust?

Thanks,
Luckyone

luckyone replied to the topic Landlords in the forum Legal & Accounting

Tue, 11 Jan 2005 05:33:23 +0000

I don’t know about insurer brokers cause I have my insurance directly through the insurer. But anyway, I can recommend Terri Scheer for insurance, they have competitive prices and they cover you for third party claims as well. It costs me $260 a year for a 2 bedroom unit in Canberra City which I think is well worth the money.

Thanks,
Luckyone

luckyone replied to the topic Baycorp Credit History - Overdue Accounts in the forum Finance

Wed, 22 Dec 2004 07:54:58 +0000

My husband had the same sort of problem. We didn’t find out about the overdue account on an old place he rented until we went to purchase our first home. We missed out on buying that home because of it. Later, we managed to find a very good mortgage broker and he said just to write a letter for the bank and mortgage insurer’s stating why the…[Read more]

luckyone replied to the topic If I buy properties in other states ??? in the forum No Subject

Mon, 13 Dec 2004 06:45:29 +0000

I can help you out with questions regarding the ACT. A typical property manager here will charge you between 8%-10% + GST for managing your property. They will usually lower this if you have more than one property with them.

With repairing the property, you can instruct the property manager to contact the repairer on your behalf and you can…[Read more]

luckyone replied to the topic Multi-function printer/copier/fax recommendations? in the forum General Property

Mon, 13 Dec 2004 03:53:28 +0000

I have an HP psc 750. It is very good. Haven’t had a problem with it. The cartridges are a bit expensive, but you can get no-name brand ones from Kmart for about $30. It doesn’t have a fax, but I’m sure the one with fax is just as good.

Thanks,
Luckyone

luckyone replied to the topic Don't you just hate it when.... in the forum No Subject

Wed, 08 Dec 2004 07:12:53 +0000

I absolutely hate it when someone speeds up to overtake you, then cuts you off coming over into your lane and then slams on the brakes to get back down to the speed limit. That really gives me the s***s.

Thanks,
Luckyone

luckyone replied to the topic 16k what to do ? in the forum General Property

Wed, 08 Dec 2004 06:33:11 +0000

If I were you, I’d buy a Honda Civic 1988 model, you can pick one up for about $3,000 – $5,000 and it will be in excellent condition. I had one as my second car (after my first one got stolen) and it never gave me a day of trouble. Sold it after 5 years when I decided I needed a “new” car because it would be better for long trips.

I have since…[Read more]

luckyone replied to the topic Daughters help? in the forum Help Needed!

Wed, 08 Dec 2004 06:20:21 +0000

Maybe you could get some sort of proposal to her showing how much the property you would be interested in renting off her would cost, what rates, land tax etc they would have to pay. And of course you would need to include the amount of rent you would pay to her.

Just make sure that you pay market rent to her otherwise the ATO can get quite…[Read more]

luckyone replied to the topic Renting - carpet vs floorboards in the forum Help Needed!

Tue, 07 Dec 2004 02:24:01 +0000

The thing with floorboards in units is that if you are up top in can upset your neighbours below as they can be very noisy when you walk on them. You’d want to get a really top quality underlay if you were going to go with floorboards methinks.

Thanks,
Luckyone

luckyone replied to the topic water quality in the forum Help Needed!

Tue, 07 Dec 2004 02:19:21 +0000

I’d ring the tenants board in your state and see what advice they can give you. They can be very helpful in situations like this. In one place we rented the oven had no shelves in it so we couldn’t cook. When we signed the lease, the real estate agent said that the owner had ordered them and it would be a couple of weeks. We didn’t mind that…[Read more]

luckyone replied to the topic Trouble tennant in the forum No Subject

Fri, 03 Dec 2004 02:44:54 +0000

Well done! I hope it all works out for you and she doesn’t have too much trouble finding another place.

Thanks,
Luckyone

luckyone replied to the topic Trouble tennant in the forum Help Needed!

Tue, 30 Nov 2004 04:04:49 +0000

Can’t you put into the contract that the property must come with vacant possession? That way it’s the vendors problem, not yours.

Thanks,
Luckyone

luckyone replied to the topic 401K used to finance IP in the forum Finance

Thu, 25 Nov 2004 06:07:14 +0000

What on earth is a 401K?

Thanks,
Luckyone

luckyone replied to the topic ACT Property Laws in the forum General Property

Tue, 23 Nov 2004 06:53:17 +0000

In response to your questions:-

a) If it is a PPOR, you don’t have to pay capital gains tax. If it is an IP you would still have to pay capital gains after owning the property for one year, but it would be at half the rate. ie. Marginal Tax Bracket * 50% * Capital Gain

b) You only have to pay stamp duty when buying a property in the ACT.

A…[Read more]

luckyone replied to the topic Sell or Hold in the forum Help Needed!

Tue, 23 Nov 2004 01:34:57 +0000

Setting up a trust would allow you to sell your PPOR to the trust and then rent back the property from the trust at market value for your own use. Therefore you gain the advantage of getting all the benefits of having an investment property, but you get to actually be the tenant and the landlord.

Drawback is that you will have to pay CGT when…[Read more]

luckyone replied to the topic landlord insurance in the forum General Property

Wed, 17 Nov 2004 04:18:02 +0000

I like Terri Scheer insurance. Their prices are very reasonable.

Thanks,
Luckyone

luckyone replied to the topic Sell or Hold in the forum Help Needed!

Wed, 17 Nov 2004 03:18:24 +0000

Well, if you were to sell just the property that has a $90K debt that’s worth $450K, that would reduce your mortgage to approximately $140,000 (I’m not sure of what CGT you would have to pay on this property). Even if with CGT it did end up at $200,000 mortgage, it would seem to me that on your high salaries you could easily get this down…[Read more]

luckyone replied to the topic Sell or Hold in the forum Help Needed!

Wed, 17 Nov 2004 03:01:17 +0000

Would you consider moving out of your PPOR with the huge debt, making it an IP and moving into one of the other places with a much lower debt?

Thanks,
Luckyone

luckyone replied to the topic Your Thoughts Please? in the forum No Subject

Fri, 05 Nov 2004 04:08:12 +0000

Of course, if you are a first home buyer in NSW, the state government is still offering no stamp duty (or substantially reduced stamp duty) to first home buyers. This may help with your closing costs.

Thanks,
Luckyone

luckyone replied to the topic Am I splitting hairs? in the forum Help Needed!

Fri, 01 Oct 2004 06:27:56 +0000

Thanks guys. Wasn’t sure how it worked.

Thanks,
Luckyone

luckyone replied to the topic Building in New Estates? in the forum Value Adding

Wed, 15 Sep 2004 05:11:33 +0000

Geez Wayne, a bit slow of the mark today?

Gambini means he’s found his forum feet cause once you get over 20 (or so) posts you message changes to Not too many posts … yet.

Thanks,
Luckyone

luckyone replied to the topic High Priced Seminars in the forum Opinionated!

Wed, 15 Sep 2004 03:10:41 +0000

So now that we seem to have worked out that high priced seminars are OK if you get value out of them.

Next question – what is the best seminar you have ever been to and why? Oh, and how much did it cost and was it good value for money?

Thanks,
Luckyone

luckyone replied to the topic Property Data in the forum General Property

Wed, 15 Sep 2004 01:51:57 +0000

How do you reply to abs, yorker?

Thanks,
Luckyone

luckyone replied to the topic Tenant Selection in the forum General Property

Wed, 15 Sep 2004 01:23:19 +0000

I have read that it can actually be quite good to rent to people who have pets as it is hard for them to find places and will actually stay longer and take care of the place better as they don’t want to have to go through all of the hard work of finding a place that will accept pets again. Personally, if I had a suitable IP i’d have no problem…[Read more]

luckyone replied to the topic who agrees'?? in the forum Opinionated!

Tue, 14 Sep 2004 03:04:37 +0000

Yeah, it’s OK now. I mean it’s a really really long time ago now. I’m still pissed off with them about it, but I wouldn’t bring it up again. It’s two long ago to stress about and my life has worked out well anyway. I just think back now of all the years I wasted being angry with them over this and throwing away my education. Just feel a bit…[Read more]

luckyone replied to the topic who agrees'?? in the forum No Subject

Tue, 14 Sep 2004 02:53:13 +0000

Well people, all I can say is don’t do to your kids what my folks did to me. They let me go through all of the examinations (which were quite a few) for the two private schools I was interested in in year 6 to start in year 7. When the results came in, they told me I had been knocked back to both. Later, when I went back to visit my old primary…[Read more]

luckyone replied to the topic Deal or No Deal? in the forum No Subject

Mon, 13 Sep 2004 23:28:44 +0000

To me, it sounds like a good deal as you could renovate the two other units and get a bit more rent (in between tenants though). Maybe you could even convert the units to strata title and sell them all off individually for a bit more. I see potential. Where are they? PM me if you don’t want everyone to know. I live in Canberra so they…[Read more]

luckyone replied to the topic Book Launch... You're invited! in the forum General Property

Thu, 09 Sep 2004 22:51:01 +0000

Hi Steve,
Can I come too? I really, really want to go to the Sydney launch. And can you book in my hubby Scott too? We’ve both been trying to book it online since we received your e-mail yesterday but we’re both getting page unavailable.
Thanks,
Lucy

Thanks,
Luckyone

luckyone replied to the topic who agrees'?? in the forum Opinionated!

Tue, 07 Sep 2004 02:58:05 +0000

Well, I’m surprised by all this campaining on telly about private schools getting more govt funding than public schools. I thought that private schools were called that because they had nothing to do with the Government. I thought they were self funded (which is why you have to pay to go there) or at worst the churches behind them funded the…[Read more]

luckyone replied to the topic Mortgage Insurance in the forum General Property

Thu, 02 Sep 2004 06:30:29 +0000

Hi Teresa,
If you want to find out approximately how much mortgage insurance go and have a look at http://www.yourmortgage.com.au/calculators. It will give you a pretty good indication of how much it will cost you.

Thanks,
Luckyone

luckyone replied to the topic MAP program in the forum General Property

Mon, 30 Aug 2004 07:25:53 +0000

I believe that the results of the MAP program are going to be in Steve’s new book.

Thanks,
Luckyone

luckyone replied to the topic Friend loses OTP property in the forum General Property

Mon, 30 Aug 2004 03:07:55 +0000

Hi Gatsby,
I’m really surprised that they could get away with that! My husband and I used a deposit bond for our first property as we needed to sell a couple of things to get the deposit together. We only got a deposit bond for 6 months as that was when the unit was meant to be completed. It ended up actually taking a full year. When it was…[Read more]

luckyone replied to the topic Advice needed please... in the forum Help Needed!

Mon, 30 Aug 2004 02:41:52 +0000

Hi Tass,

I would definitely advise combining the mortgages into one. This will make tax time very difficult for you. You will need to work out every year which portion of the interest applies to your ppor and which applies to the ip. Believe me it’s a pain in the bum!

Also, it would probably end up making you be able to borrow less not more…[Read more]

luckyone replied to the topic Buying a block of land - what checks should I do? in the forum Help Needed!

Tue, 24 Aug 2004 21:57:01 +0000

Thanks George, I’ll check all that out.

Thanks,
Luckyone

luckyone replied to the topic Can't get a loan when running own business! in the forum No Subject

Tue, 24 Aug 2004 03:52:19 +0000

Have you tried going for a low-doc loan. They seem to not care as much about where your income is from.

Thanks,
Luckyone

luckyone replied to the topic Negotiating with banks for interest rates in the forum Help Needed!

Fri, 20 Aug 2004 03:46:15 +0000

That’s a good idea too. Thanks Simon! I just want to be able to go in with a plan of what to say.

Thanks,
Luckyone

luckyone replied to the topic Negotiating with banks for interest rates in the forum Help Needed!

Fri, 20 Aug 2004 03:01:25 +0000

Cool, thanks for that. I will look into threatening to leave, might have to get a valuation done first to make sure we won’t have to pay mortgage insurance though.

Thanks for all your advice.

Thanks,
Luckyone

luckyone replied to the topic Secret Womans Business!!! in the forum Heads Up!

Thu, 19 Aug 2004 04:12:53 +0000

Is it really worth close to $5,000? Just seems an awful lot of money. What do they actually do for you?

Thanks,
Luckyone