A dentist was getting ready to clean an elderly lady’s teeth. He noticed that she was a little nervous, so he began to tell her a story as he was putting on his surgical gloves.

“Do you know how they make these rubber gloves?”

She said, “No, I don’t have any idea.”

“Well,” he spoofed,

“Down in Mexico they have this big building set up with a…[Read more]

Hi Bill

That’s ok, I’m really hopeless with emails. I used to be good when I was at work – it killed time, but now I jump on the net, and jump off again.

rickyw, just to clarify, the FHOG cannot be used for an IP. If you buy an IP, but never live in it, and then subsequently buy a PPOR, you can use the FHOG for that.

Cheers
Mel

John

Contact any one of the numerous mortgage brokers on this forum.

Alternatively, get a personal loan for $30K or higher if the bank will give it to you. This will solve the short term problem. Then you could look at refinancing with a bank, and without so much pressure.

But first, approach some of the minor lenders, and the brokers are the…[Read more]

I believe that it is a capital cost, unless you are ‘in the business’ of property investing.

Cheers
Mel

MillaD it depends on what you mean by immediate? If it’s ‘immediately’ after settlement, and more than 12 months since you signed the contract, then yes, half CGT applies.

Cheers
Mel

Redwing, you could also get around being ‘kicked out’ before you are ready by asking for a long lease when you first move in – ie 5 years or however long you want. If you then have say, CPI increases in rent, you should be doing ok. I know as a landlord I was more than happy recently to sing a 4 year tenant on those terms. I’ve also agreed that…[Read more]

If you buy an IP, and don’t live in it, and bought it after 2001 (I think that’s the date) you can still get the FHOG.

Bill, I don’t think that any of my properties are ‘cheapies’ (well, OK, one in SE QLD definitely is, but that was my first ‘learning’ experience). I’ve had awesome growth from some of them, and being a IP versus PPOR, I’ve had…[Read more]

Both can claim is my understanding, but as I said, definitely check with your accountant.

Cheers
Mel

Michael has some good points, but if I was a beginner investor with a bit of time, and only one property, I would definitely look at having a go myself. It is one of the best ways to learn what is actually involved in managing a property, and you have a better understanding when you do hand over your properties to a PM.

Of course, if you majorly…[Read more]

quote:Kinda. If we both move to SA and stay in rental accommodation ourselves, then technically we do not have a PPOR. So we can both call our existing houses PPOR’s as (at this moment) neither of them have been rented. Is that the jist of it?

Yes, and if you don’t buy a house to live in, you can both claim your houses as PPORs for up to 6 years…[Read more]

Hi Stu

It depends on how much money you have to start with – various recommendations I have seen range from $20K (but few recommend), up to $100K (most recommended that I have seen).

We started with $30K, because we knew that we could earn more $$ than it would cost to audit (about $1500 depending on your accountant, and how much you do…[Read more]

We pay for all of our water rates. As far as I know, they come to the owner. As part of our tenancy agreement, we can stipulate they pay all, or part, or none of the ‘excess’ water.

Cheers
Mel

I live at home with Mum and Dad[]. It’s way cheap!

There’s only one of my IP’s that I would have lived in, and it’s the one I just sold to my friend for below market value so he would actually buy a house. I was going to move in, but it’s a townhouse, and the yard is definitely not big enough for my dogs[]. The others are smaller again, or…[Read more]

Fibejebee

I’m unsure how it works if you both have a PPOR, however I think you can both claim it as PPOR when selling if you don’t buy another house to claim.

Does that make sense?

You can rent your PPOR for up to 6 years whilst still being CGT free. (But you can only have one PPOR at a time, except for a 6 month ‘changeover’ from one to the…[Read more]

Hallo Bill

Why the [?]

Rugby World Cup trophy.

Cheers
Mel

Hey SIS (keep thinking I’m talking to my ‘sis’ter)

I don’t think it’s that. Put your mouse on the link, but dont’ click, and look at what it shows bottom left.

*Edit* I see that your link does work now s.i.s

Seems to have double pasted in there somewhere.

Cheers
Mel

SIS, your link doesn’t work.

This one should
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=5667

Also, for renos, try the reno kings. http://www.financialsuccesssystems.com.au

Cheers
Mel

Scott

Don’t know any in sydney, but I’d try Dale Gatherum Goss from Melbourne. Lots of people travel to see him, including a few forumites from QLD.

http://www.gatherumgoss.com

Cheers
Mel

Haha[]

Paul – William Webb Ellis Trophy, affectionately nicknamed ‘Bill’

Cheers
Mel

LOL Sue[]

I think it’s because Arty and Pinky are hidden in their moving boxes – probably packed themselves by mistake!

Poltergeist is around, but I’m not sure where Muppet has gone – maybe to propertytalk.co.nz? Or maybe he’s upset with us Aussies cos we didn’t beat England and keep Bill in the Southern Hemisphere?

Cheers
Mel