Zacman, there are at least six brokers that I have seen post on this site.

Mortgage Hunter, Melanie, Stuart, TerryW, saskatoon, Mobile Mortgage, picja1 – that’s seven.

See if you can find any posts by them, and they have their contact details with the posts.

Cheers
Mel

Adrian, I believe that paying rates etc. is still a ‘cost of doing business’ of owning IPs (as long as they’re not your PPOR rates[]), so yes in this case the interest is claimable.

If you get 12 mo int free, I’m not sure if you can then borrow it to pay yourself back and claim it. Best get advice on that. I’m thinking the answer is no

Cheers
Mel

Hi nextone

If you can sit down and do some figures for them, to show them the income they could get from the property/ies, and any growth etc. that would help to supplement their retirement lifestyle, that may help sway your Dad.

My parents bought their first IP at 47, and have since purchased another 4, stopping in 2001, so the growth since has…[Read more]

SIS, I hope that this is the job that you are soon going to be working at only 4 days a week – it doesn’t sound like it’s that much fun. I hope there are some good points to it (other than that they pay you each week!).

Cheers
Mel

quote: we have mobile phone pagers, that go off when a security breach has occured, internal alarm system and armed security guards at our work running frantic around and then external outside security, calling up due to their systems showing a panic alert, followed by police…..

hahahahahahahahahahahaha[][:0)]

Cheers
Mel

Hi ryanmel

First question is whether or not you would be happy to move? Also whether you want to go from being able to put as many holes in your walls as you like, to having to ask if you can put any holes in at all to hang pictures etc. Also the chance of having to move on every couple of years as your landlord decides to sell/move in/renovate…[Read more]

Hi Lloyd and Deb,and welcome to pi.com.

click on the link that came at the bottom of your newsletter, or click on this link

https://www.propertyinvesting.com/newsletter/Newsletter023 and choose the downloads

Cheers
Mel

Happy Bandit, remember that for Steve to accumulate 130 properties, that there was actually Steve and Dave AND their wives.

So they would have used a lot of cash that they earnt through other means to fund deposits. They did also do wraps to get started (Steve mentions that, although briefly, in the book). This enabled a cashflow, plus $7-10K…[Read more]

SIS, you’re not sorry at all[]

Thanks for the big welcome. I’m thinking that there must be quite a few of us out here that don’t have a life – to be spending New Years Day on the computer!!!

My New Years was good thanks. Went to a friends place, had a nice bbq, and played some board games up til 12. Then home, check to make sure the dogs…[Read more]

hissho, there’s been a bit of discussion previously on this guy – I think it was good, but I haven’t seen/heard of him other than on here, so I can’t comment.

Do a search and you should come up with something.

Cheers
Mel

quote:Guess it happens in any deal tho doesn’t it? … 10 of us paid 290K to 330K each and the 4 developers paid 150K each and got the pick of the uints. We subsidised them over 600K (150K each.) Between the 10 of us, that’s 60K added to our initial price isn’t it?

Perhaps this is a. why they develop, or b. the way they wish to take their…[Read more]

Ah bugger, SIS hit ‘Post Reply’ before me[]

Cheers
Mel

As my understanding of trusts goes – a unit trust has ‘units’ that are similar to shares in a company. You can borrow to buy these units, and claim the interest as a tax deduction against your income from the trust. The income is distributed strictly in accordance with ownership.

A family/discretionary trust does not give you the same tax…[Read more]

SIS’s point is valid when claiming the cost of the repair/improvement, but as far as my knowledge extends, the interest on your loan is still tax deductible. Always check with your accountant[]

Cheers
Mel

Adrian, if the money is spent on ‘earning’ your income you can claim it.

Rates, renos etc. are a ‘cost of doing business’ and therefore should be claimable. Confirm with your accountant of course.

If you can add more value by doing the ‘reno’ first and then getting it revalued, you might be better off to go that way if you can afford it first.…[Read more]

Fibejebe, as long as you do your own DD, and everything still stacks up on the property – including rentals, and what other units are selling for, then you should be fine.

That’s what it boils down to I guess, and if it all works then your ‘spotters’ get their fee. I do think it’s a tad high for the Investors Club, (and don’t really appreciate…[Read more]

The other thing is – it did not look like you were buying HK’s property. It was a separate company who ‘dealt with developers’ and negotiated discounts by taking out the developments etc. – students were offered the chance of a ‘finders’ fee if they could find a good site for this company to then tie up – giving even more ‘credence’ to the fact…[Read more]

Sorry Fibejebe to go off track, but I have read the Administrators report into the ‘collapse’ of NII, and in fact there was no such thing.

NII was the biggest ‘cash cow’ in the world. It had lent money $29.5M (to HK’s ‘Property Corporate Services P/L) -unsecured, and $6M (to HK’s Group Corporate Services P/L) -secured. Even when HK called the…[Read more]

Si, I personally would recommend you rent for a while before buying. The market here is slowing considerably, and there are many more properties available in the sub $300K bracket than there were 3 months ago. There are also quite a few apartments coming online, and some I think that have come online that still have rental vacancies (about 500…[Read more]

Yay for Steve![]

I’m not surprised about Anita Bell’s book though. A friend lent it to me (and it has been discussed a little on this site) and I found myself vehemently disagreeing with her first two pages.

She stated that if you rented out your PPOR prior to moving in within the 12 months (and still get the FHOG) you can only claim the…[Read more]