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Westan, hurry back.[]

Best of luck with the move, and new life. Enjoy your last day of work[], and don’t have too much celebrations – packing while hung over is not fun!

Cheers
Mel

Matt, unlike the States, we cannot fix our loans for 30 years (40 years I think they now offer). At the moment our maximum is 10 (or possibly 15), but these rates are much higher than the variables.

Cheers
Mel

Same places you’d go to for lease/option, wrappee’s etc. Papers, internets, local papers, bulletin boards, current tenants etc.

You need to put enough info to interest them, and get them to call you so you can explain the rest.

Cheers
Mel

If you buy in a company name, you are also subject to more risk than using a trust. With a trust you have many more options of utilising asset protection, and tax minimisation strategies. If you have other beneficiaries that earn very little, when selling you could possibly be subject to very little or no CGT, whereas with a company you do not…[Read more]

toystory – what about Citibank?

Why don’t you look at investing in the US? Far better yields available than here, and in some cases much easier to buy property. Dolf De Roos has just bought 52 properties this year in Las Vegas which is the fastest growing area in the world, and has been for many years.

Cheers
Mel

JB, ever heard of a hybrid trust? Negative gearing can be used here. Also in a unit trust.

If you’re going to make a blanket statement about using a corporate trustee, it would be nice if you gave the reasons.

Obvioulsy MarkyMark has already done some research by using Steve’s resources, so I’m sure that he will be getting someone ‘qualified’…[Read more]

Geronimo, in my understanding and implementation of the Equity Lease, at the end of the lease, no matter if there is a renewal or not, you should refinance and give the tenant their share – it’s something concrete, and they can do with it what they will, while maybe staying on if they like the place. I would definitely have them lodge a caveat…[Read more]

As Terry (sort of) suggested, you definitely need to talk to your accountant. I have heard that you can claim everything and not lose the CGT exemption (similar to the 6 year rule), but I couldn’t quote you any legislation, so the best one to ask is the qualified one.

Cheers
Mel

If a wrap in Rocky is an option, I believe Qld’s 007 does quite a few up there. I think there website is http://www.fhog.com.au, but he posts on here quite a bit, so you should be able to find it easily, it’s always in his signature block.

Although I do think you have other options that are probably better if you can get your mum on board.

Cheers
Mel

To save on the company costs to start with, you could simply have yourself as the trustee, which will affect the extent of your asset protection, but will save you annual fees etc. for the company.

I would definitely start with a trust if that’s how you wish to proceed. It is costly to transfer them over later, so most don’t do it, and have to…[Read more]

vegemite I would be careful buying real estate in the name of your trading company (or any company for that matter). Remember there is no CGT relief for a company.

Could you not pay your company tax, and say, lend what’s left to your family trust which could buy a property that you rent from it?

Cheers
Mel

The surest way to get around that problem is to drop your rent!

Cheers
Mel

quote:I’m not sure what Barbara Smith was suggesting,however, the super fund cannot have an interest in a property that has any sort of mortgage attached (even if the interest in held via a unit trust).

JB, I draw your attention to the Do It Yourself Superannuation Fund Manual written by Barbara Smith, Executive Director, Superannuation…[Read more]

JB, it’s about security of dollars, and if the SMSF is guaranteed that it will not lose any money, like in the situation I mentioned, apparently it is ok.

Cheers
Mel

As soon as your settle, get depreciation schedule done. Then renovate (whenever, immediately if you like), and get another schedule done.

You can then ‘write off’ what was there before, and start depreciating what is there now. As far as I’m aware, you do not have to wait – it’s not like the ‘is it a repair or improvement’ scenario.

Cheers
Mel

Yes, but neither NATS or his/her sister would qualify anyway for the FHOG if they continue with the strategy outlined.

To avoid CGT is really, really easy – don’t sell![}]

In ACT, if you buy an investment, you can claim the stamp duty on your tax. If you buy PPOR you cannot, so you can almost get that $7000 back anyway, especially considering…[Read more]

Agree with Simon. I think people are getting ‘funny’ about time frames now because of the FHOG. It appears that the new ‘rule’ will be that you must occupy the PPOR for 6 months to keep/gain the FHOG.

As for CGT, I didn’t believe that there was a minimum time to be eligible for exemption. However, if you do it several times in several years…[Read more]

Hey Leonie

I love Yeppoon. Do you know the Picketts?

From what they have told me the prices in Yeppoon are way higher than Rocky (and yes, they wouldn’t live there unless they had to, but I’m not sure of your feelings). Could that not be an option? At least to get you going?

Cheers
Mel

quote:but loan interest would be charged on $130.00 less each month as savings would sit in there to offset

I saw that Simon, and absolutely agree with you if that is the case, but the above quote is where I was coming from.

Cheers
Mel

I have 8, buy and hold. I really don’t like to sell[], but have had to recently as they weren’t good investments.[]

Also got 6 under contract, with 4 completing sometime in 2006. Might sell 2 of them.

Cheers
Mel