Mark Victor Hansen – author of the Chicken Soup book – Robert Allen’s co author.

Now I’ve forgotten my question. Oh yeah, at the risk of sounding stupid, what is LIM?

Cheers
Mel

That’s a great plan still_in_school – but personally I’m not too sure about it in this market unless you have a crystal ball. Can you predict with certainty at this moment where you are guaranteed of that gain?

I have many negative geared properties, and personally, I am sick of having to cough up money to pay for them. The Cap Gain has been…[Read more]

Now I wouldn’t dare suggest anything…..

Wonder where they get the differences from?

Cheers
Mel

They all think they are so original don’t they! I still sometimes get ‘smelly’.

Cheers
Mel 2

Dino

Why do you not pay that money into your PPOR, to reduce non tax effective debt, and re borrow to either lend it to your company, or to purchase the shares.

BTW, I would not buy appreciating assets in a company. have you thought of setting up a family trust, with a company as trustee? It’s sort of the same, only better income splitting and…[Read more]

Ali

I’m guessing that you plan to onsell? Otherwise closing costs would not be an issue?

I believe that contracts can be amended if both sides are agreeable. It may be interesting to find out though as the contracts may have been lodged with Rev Office, and if it changes now they may think you are trying to avoid stamp duty in onselling.

Cheers
Mel

Hi Mel

I’ll let you be Mel, and I’ll be Mel2 as you’ve been here a lot longer!! I’m happy to be Melbear, as i’ve been called that for a number of years now!!

Cheers
Mel 2/bear

I think it’s even longer to get higher. We’re waiting for Arty to hit the 1000 to see what happens then. He’s only 250 away!! Although I see that propertylogist is also now in the 500s, and TerryW is also in the 700s, but he’s not trying as hard to get to the 1000 mark.

Cheers
Mel

Hi Lizzy

I’m not sure how you’ve worked out your property would be negative geared renting at $180 per week, on a purchase of $90K.

An option for you to get cash in 12 months, and still wrap, would be to get it revalued at that time, refinance to pull out all extra equity, and then wrap. At a value of $144K, you could borrow $115.2K at 80%…[Read more]

Hey Uncle

There are a few investors in UK on this forum. Hopefully they’ll be able to give you some specific advice.

I would think that as our laws etc. came pretty much from the UK, that it would be fairly similar in operations across there. The best thing for you to do is find a good solicitor/accountant in UK who can either advise you, or…[Read more]

Must be an old pic – Arty said he now has no hair!!!

Cheers
Mel

Hi Diane

Personally I would purchase (I’m believing everything else stacked up). Do the clean up yourself – if the owner was going to do it, he would, and then sell for more. If you can add a carport etc. for a small amount, and add $14K in value then you are in front. Although if there are no houses in that range, maybe a cleanup would take…[Read more]

Hey xyzzy

I like that! ROTFLMAO. Minute of noise. Hahaha.

Cheers
Mel

Bill

I think we need to give Muppet his points back. I’m guessing that New Zealand never got the ‘Which Bank’ advertising slogan (if at all) half as much as us!!

muppet, when we say ‘Which Bank’ we mean CBA.

Cheers
Mel

Hey Daisii

Best person to ask is your accountant – or an accountant on this forum.

It is my understanding (and I’m trying to do this myself to extricate myself from a relationship gone bad) that stamp duty is payable, and if it is an IP, so is Capital Gains!! This is making it really hard for me, as we own 6 properties together, and my CGT bill…[Read more]

Hey MalPatti

Head to Olims at 2pm this Saturday. there will be a few of us there who could probably share some stories about good and bad agents. Don’t want to risk any reprisals about what gets written on the forum!![]

Cheers
Mel

It also means you can utilise different banks for different loans. Then when you have a new property you need a loan for, you are an existing customer of more than one bank, and sometimes it’s easier to go to them first – you can ‘shop’ your loan, and tell them you are looking for the best deal.

For instance, we had all loans with St George, who…[Read more]

Interesting choice of name!! think her kids are going to have fun if she chooses names like that for them!

Cheers
Mel

Hey Fudge

Depreciation helps your cash flow – but only if you pay tax!!

For example, let’s assume that your property is cost neutral, ie. rent = all interest, rates etc.

BUT, your house was built after 1985 (when CGT was brought in, they also brought in the depreciation on building allowance).

You had a quantity surveyor who said that your…[Read more]

I’ve got an idea. Change Sarah’s name, and then you can call your rat Terra!![]

Cheers
Mel