Hi Guru

I read your post at 1 this morning, and decided to go to bed rather than answer it. I did understand your question though (I think).

As you will be buying and selling within 12 months, the CGT will just be treated as normal income, so can be offset by other expenses in the trust etc. Even if it is CGT (ie 12 months hold) you can still…[Read more]

Or they might do it ‘in house’

Cheers
Mel

breakfree I’ve found the same. I’m about to check out his website at http://www.gatherumgoss.com

They hopefully will have it

Cheers
Mel

Hi James

Basically, if I really needed/wanted to sell my house, but didn’t need ALL of the money right away, and you were interested in buying it, could get a loan for say 80% easily, but had no deposit, we could possibly work out a deal.

For a $100K house (let’s add $5K for costs) you would need a loan of $80K plus cash of $25K to cover deposit…[Read more]

Yep, even in one of the brochures ‘advertising’ why Buyer Ranged (the Pillings system – what a w#$%) says that you get more lookers if you have a range. Then it’s up to the agent to try and squeezed that extra amount from the buyers, and to also squeeze you down.

When I see a BER now, I just take about $10K off the top of the range and believe…[Read more]

Hi kitdoctor, it is late, so forgive me if I don’t fully answer your questions.

1. We have had an LOC split into four accounts before, three to show the deposits for the three properties that were purchased, and the fourth to be a ‘miscellaneous expenses’. If you will have some non tax deductible debt, then definitely have separate…[Read more]

Wersonal Banker? That doesn’t make sense[][}]

Oh dear, it’s late/early. I should go to bed.

Cheers
Mel

Hi PropertyGure

I currently run a business that is small 20c lolly machines. Very low tech, screwdriver is all you need for maintenance.

The takings from any of my machines is a maximum of about $100 per month, with about 40% (really rough) profit in that. I have 79 machines currently, and whilst not being enough to live off, it ‘profits’…[Read more]

LuckyPhil, kindred spirit. That’s exactly (well, same sentiment[]) what I said to Shaun in an email!

Cheers
Mel

so my family don’t need to worry about money – ever

Cheers
Mel

Hi Celivia

I guess it’s a bit of a slang/jargon term for vendor finance.

Buy for $100K, at settlement, give vendor $80K to complete, title transfers etc., but now you owe vendor $80K. 100% financed. (I’m ignoring costs, but they can be part of the vendor finance bit).

Cheers
Mel

Looking to settle on an office purchase – part rental and part my own use. Rental will pay loan, my own use therefore FREE[].

Also looking to settle on one pos cashflow place that was offered and accepted waaay back in August. After that will definitely sit back and watch and wait.

Trying to add value to what I’ve got at the moment.

Cheers
Mel

Any number of 2 bed units in Queanbeyan three years ago. Selling for $33-$50K. Had cash, didn’t bother pursuing. Now selling for upwards of $140K and just under $200K mark. Not happy Jan!

Cheers
Mel

Hey C2

I think you and all the other guys have valid points. I have used that strateg before – although it was only a matter of killing time – my boss was a Navy witch (old, not highly ranked officer, bitter, a second wife, and just generally a kind of person). I only had to wait 18 months and she moved on. At that point I was in a place…[Read more]

Hi C2

The ato will decide if the loan is tax deductible purely based on what the money is used for. If you buy a car, or a holiday, not tax deductible. If the loan is to buy a PPOR, not tax deductible.

If the loan is used to purchase investments – shares/property etc. then it is tax deductible. It does not matter that the security IS a PPOR,…[Read more]

Yes, definitely a reference to the rugby. Although it does date quite quickly doesn’t it?

Cheers
Mel

C2, but how does one change one’s boss?

I know we could always kill them and hide the body, but to try and change the personality of somebody else is almost impossible.

There is always the option of ‘changing yourself’ so it doesn’t bother you, but there are some things that will always get through.

Cheers
Mel

Fudge

PAYE = Pay as you Earn – the pre GST terminology for PAYG.

mmerlin, are you sure SOB is shower over bath, I always thought it was…, never mind, I probably shouldn’t write that here[^]

Cheers
Mel

Thanks for that Kay. I must admit I got a bit discouraged this afternoon when reading a post, and I think I vented too[][].

I’m just hoping I’m not one of the opinionated, nitpicker types that people keep mentioning as their reason for staying away from the forum.[!][]

Seriously though, if you want to talk to this guy about loans, he’s the…[Read more]

Hi Swampy

Is your surname Marsh by any chance?

I’ve seen cheaper properties than that in NSW, but I must admit I can’t remember where, and I haven’t looked in a while.

Cheers
Mel