I think you’ll find it’s the one called ‘opinionated’ now.

Cheers
Mel

ricky, there have been quite a few posts regarding trusts etc. on this site, but for personal preference I have just purchased Dale Gatherum Goss’s Tax Battles, and Trust Magic manuals. They are available from http://www.gatherumgoss.com. It appears that many people are willing to travel long distances or communicate via fax/email/mail with Dale in…[Read more]

Yay redwing. what a simple solution!!!

And yes kkowalsk it was my decision to invest, and I’m being proactive in attracting tenants, which is why I want them to sign a lease. It is no different to the peace of mind one can get from fixing part of the interest rate. I’m sorry that it appears all your landlords have been b#&*@rds, but I look…[Read more]

I disagree with $400 being a ludicrous amount to spend on a depreciation schedule. It will give you amounts that can be depreciated far in excess of just the carpet.

Barbara, you need a Quantity Surveyor to prepare the report for you on what you can claim – it should certainly help come tax time, and may not be as absolutely critical to have…[Read more]

Perhaps I did not word my post as well as I intended.

I think Michael is still very much a little kid, and very much acts as a little kid, doing what they do. At a young age, it is just play, nothing sinister.

But at Michaels age, people decide to take it the wrong way – plus because of who he is, they immediately see $$$ signs. I’ve heard…[Read more]

Vivarto, this is something that I have been looking at doing in some of my properties – but I’d look at doing the whole ‘home theatre’ bit, and would purchase rather than lease. Cost about $8K wholesale, value about $15K. Would look at borrowing the money as part of the mortgage (IO of course), and so it really doesn’t cost that much per year,…[Read more]

Let them bring on the margin calls. I will have no problems. If I refinance to get my free property, it’s hard to see how I will get into trouble when I’m leaving 20% equity still untouched. I also do not need to ‘spend/invest’ that money I have pulled out. It can sit in an offset account until there is something I do wish to buy that will…[Read more]

Mike

You won’t get any extra tax back as the others suggested, and if you try, the taxman will come down on you like a tonne of bricks.

However, I noticed that your IP is P&I. While you have PPOR debt, I would definitely change that back to IO, then you’ve got an extra $92pm to go off your PPOR. An extra $1000 per year would certainly make a…[Read more]

I don’t think it’s only a killing when you sell. I refinance to grab that equity for other investments, and can ‘effectively’ have just got a property for ‘free'[]

Cheers
Mel

kkowalsk I disagree. What if the market is over supplied? There are 20 places for them to choose from. You know that they’re going to leave within a short period of time, but you don’t know exactly when.

You have a tenant that wants the place within a month, for 12 months, but if they can’t have it, they’ll go somewhere they can, and you’re…[Read more]

Westan, I didn’t think that a corporate trustee added asset protection. I thought it just separated the properties more fully from your own holdings.

We have a corporate trustee, and my reasoning is that it’s a lot easier to change the directors, and therefore who controls the trust without having to change all the mortgages/titles as you…[Read more]

I like his music!

You’ve got to wonder about his childhood though – I think he is a Peter Pan and that’s why he created Neverland in his home. He really does not sound like he has grown up, which is dangerous when he wants to play with little boys (as little boys do) – cos he isn’t one anymore!!

Cheers
Mel

Yeah, I read most of the AFR while I was waiting in line at the supermarket. What did I get wrong in my post?

In regards to the story not finished, I was talking about what will unfold in the next few weeks/months.

I agree that Henry was a tad (OK, a LOT) greedy, but he did have some good concepts in his teachings. It was all ‘too easy’ though…[Read more]

Hey Guru

I don’t think all have closed. It’s interesting to note that the recievers were called in by a company that was owed $7m or more by NII. The company that is owed the money is also owned by Henry Kaye, so it looks like he called the receivers in on himself!! It might be a way to avoid paying back the refunds that ASIC told him to…[Read more]

redwing, check the tenancy rules in your state. I know in ACT that if we have ‘no reason’ to ask the tenant to leave, we give them 6 MONTHS notice. If we or a family member wants to move in, or we want to renovate, we have to give them 2 months notice.

They only have to give us the 21 days, but it’s a heck of a lot harder for us to get them out…[Read more]

‘Nothing Down for the 90s’ ? Written by Robert G. Allen of ‘Multiple Streams of Income’ and most recently ‘The One Minute Millionaire’ fame.

I thought it was a good read (been awhile though – I like his book ‘Creating Wealth’ better). It’s very American, but if you take out the strategies that don’t work here, it still gives good ways of buying…[Read more]

Welcome wirrumbirra

The 11 sec sol is a filtering tool, that is telling you what your rental yield is, and is a good indicator of whether or not a property will be cash flow positive. If int rates keep rising, it will not be such a good indicator.

Your CoCR is a totally different beast, and this is where you can do your own subjective analysis…[Read more]

I don’t think I’d go for an equity deal with a bank! The figures I saw said that they covered 30% of the purchase price (say $30K for a $100,000 place), but took 60% of the value down the track (say $120K to your $80K if the property values at $200K. You pay in $70K, and get $80K back – no thanks!)

Cheers
Mel

Edited after seeing Craig’s…[Read more]

Josh, if you haven’t already, check out Mortgage Hunters posts in this topic:

https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=5731&ARCHIVE=

Cheers
Mel

Hi Guru

First joke is easy, and quite funny too!

And you’ve seen me, so you know I’m blonde[]

Cheers
Mel