Hi Go Girl

Heatherton had a reputation to being a slum/druggies area like Dandenong, but not as bad.

But image is changing – a big developer (Mirvac ??) has been building on all the land around the Kingston Rehabilitation Centre ( near Cnr. Kingston and Warrigal Rds – south of Kingston Rd).

The Kingston Heath Golf Course is next door. – Along…[Read more]

Hi Leigh

The concept sounds great but I would be concerned about taking over a company owned by someone else. Even if you did all your due diligence there are still pitfalls. Several years ago I became aware of a situation where a company was taken over. Due diligence was done and everything came up clean, or so they thought at the time. So…[Read more]

Evelyn

Are you suggesting this as an alternative to transfer properties from an individual to their trust structure by wrapping the property?

Fantastic idea for those who want to protect their properties under the trust structure and not have to pay the stamp duty immediately.[]

Cheers
Nessie

What Stuart has said is correct.
Though I understand that if you borrow money to purchase your IP all the costs associated with the borrowings are spread over a 5 year period provided that the monies under the Mortgage remains owing after 5 years – that is you can claim one fifth of the borrowing costs each year for 5 years. These are usually the…[Read more]

Hi Leigh

No Section 32 is a common problem for us Victorian property investors. If the deal is good I get around it by telling the Agent that I am prepared to make an offer of $? subject to viewing S32. Have even offered to pay a $100 holding deposit so the Agent won’t sell or take offers from anyone else. If the S32 is not up to scratch then…[Read more]

Hi Leigh

No Section 32 is a common problem for us Victorian property investors. If the deal is good I get around it by telling the Agent that I am prepared to make an offer of $? subject to viewing S32. Have even offered to pay a $100 holding deposit so the Agent won’t sell or take offers from anyone else. If the S32 is not up to scratch then…[Read more]

Hi amni23

If I had to make this decision I would keep the car, buy a property and then claim part of the car expenses visiting the property.
My Accountant told me that once you have your first property, you can then claim more of your motor vehicle costs for looking for other properties. Keep a log book of the kms you drive and at the end of the…[Read more]

Hi Ishita

I have read this as meaning that the property is a residential property with office facilities.
I understand for a business to run from a zoned residential area the local council have to approve and so do the neighbours. Parking becomes an issue – particularly if office is medical – patients waiting – cars parked in street space the…[Read more]

Hi Red

To my knowledge a loss in any trust, be it Family Trust, Unit Trust or Hybid Trust cannot be distributed. The loss is carried forward for the next year.

What I do know is that if you have 2 Family/Discretionary Trusts and one makes a profit and the other a loss the Trust with the profit can distribute to the Trust with the loss.

Your…[Read more]

Hi Tas Investor

You are right. There was a post on this topic because I remember contributing an answer. I’ll be damned if can find it either, but I will keep looking.

The answer I gave before was along the lines of:
Yes, you can rent from your own Trust. I have been doing it for nearly 15 years. My Accountant set it up. You should discuss…[Read more]

Fullout,

Property was in Carrum Downs/Skye area.
Was not in advertised in this weeks local news so must have been sold.

Cheers
Nessie

Hi Fallout

Saw an advert. in the newspaper a few weeks ago for 45 acres of land on the outskirts of Melb – Eastern Suburbs – Price: $900,000
Equates to $20K per acre.

Dad will need lots of $ if he wants to buy 900 acres.

Cheers
Nessie

Hi Getting There

You need to find yourself an Architect who lives within the same Council that your property is located. He/She will know all the Council requirements and will be able to give you advice on what is and is not acceptable for your block.
You can obtain some information from your Local Council, however whether you can understand…[Read more]

Hi Fallout

I pay Landlord Insurance premiums yearly. See details in early note about the amounts.
I haven’t heard of any Ins. Co. accepting monthly or quarterly payments.

Cheers
Nessie

Hi Leigh

I always try to meet the Tenants before settlement. It is amazing what information you can find out when meeting them – like what their situation is, what their plans are, what they might need to help them stay in the property (this is really important)

eg: They don’t have good TV reception – get a repair man to fix the antenna or…[Read more]

Hey, I understand your gripes about Solicitors. I have worked in legal offices for over 25 years and can tell which ones are good and bad. The good ones will explain everything to you. The bad ones – well your comments say it all.

But using a Conveyancer ! – I don’t believe that a Conveyancer will be any better and a bad Solicitor.

This year…[Read more]

Hi WHJ

I’ll see if I can explain the answer you are looking for.

The Trust document should have 2 types of beneficiaries.

Specified Beneficiaries which is usually “the husband, the wife and any child or children of them”.

General Beneficaries which can be
1. parents, brothers, spouses, widows, cousins children and remoter issue and next of…[Read more]

Hi all

My apologies – I certainly did not have any intention of having a closed forum session with Sooshie on this topic.

As Sooshie is a Moderator of this forum and she had asked the question I wanted to explain – discuss this topic with her and determine what was the best way of advising everyone on the forum how to go about making money from…[Read more]

Steve

I was going to remain tight lipped because I thought that it was just me that had a problem with the game, but as others have made comments I have decided to make a contribution. I had played the game last year and was very confused then. But this time round I was totally frustrated even though I had a plan to follow.

I know and fully…[Read more]

Hi Sooshie

I am familiar with this so we should get together to chat. This can and is very complex. Have sent you an ICQ message.

Cheers
Nessie