PropertyInvesting.com | mikeking | Activity

mikeking replied to the topic Going backwards need advice in the forum Hi Steve, Property only has

Tue, 05 Feb 2008 09:39:36 +0000

Hi Steve,Property only has to be less than 20 years old to claim depreciation on the building. But for any property you can claim depreciation on items inside the property such as the water heater, curtains, blinds, carpet, oven, light fittings. The ATO has a list of over 1400 items that you can claim depreciation on.I don't propose to be an…[Read more]

mikeking replied to the topic Company or Trust? in the forum Help Needed!

Sun, 03 Feb 2008 07:11:53 +0000

Hi Richard,On that note, can you refer a good property accountant?CheersMike

mikeking replied to the topic Going backwards need advice in the forum Help Needed!

Sat, 02 Feb 2008 05:42:09 +0000

Hi Steve,Several tips for you.1. The housing cycle in Sydney is at the bottom (I believe), so now is probably the worst time to sell, when in a years time, you may have a decent capital gain, if you wanted to sell then.2. Make sure your loan is Interest Only – that will reduce your monthly repayments3. If you don't have a mortgage offset a…[Read more]

mikeking replied to the topic Anyone had Lasik or Laser Eye Surgery? Please share your experience in the forum Forum Frolic

Thu, 17 Jan 2008 04:25:37 +0000

Hi,I had Lasik surgery done by Dr Rogers (Eye Institute) at Chatswood in Sydney 4 years ago. I'm 40 now. It cost me $4000 all up then. Was the best thing I have ever done. I had surgery at 1.30pm on a Friday, on Saturday morning I had 20/20 vision, and I haven't looked back since.I was told that I "might" need to wear reading glasses when I get…[Read more]

mikeking replied to the topic how did Steve McNight finance his properties? in the forum Finance

Tue, 15 Jan 2008 21:44:57 +0000

Hi Steve,Thanks for lettings us know your situation. I certainly wish your wife all the best and hopes she's ok. Also wish you well, looking after everything.cheersmike

mikeking replied to the topic how did Steve McNight finance his properties? in the forum Finance

Tue, 15 Jan 2008 03:30:24 +0000

Thanks for taking the time to reply Steve. Sorry for being sceptical, but I guess unless we know exactly how you did it, there's an "air" of incredulity about going from 0-130 (or 260+) with very little capital up front. From your **sigh**, I assume that many people are sceptical. I am only trying to understand the process you used,…[Read more]

mikeking replied to the topic how did Steve McNight finance his properties? in the forum Finance

Tue, 15 Jan 2008 02:48:28 +0000

I tend to agree with you cattleya, I think the method that trakka describes above using various trusts to fund the investments is unethical. I also suspect that finding positively geared properties is almost impossible in today's world, unless you have the cash up front for a sizable deposit.