Total Members: 158,364

Old School Skata

  • Old School Skata replied to the topic Outer Cairns in the forum Help Needed! 18 years, 5 months ago

    I have a unit in Cairns at the moment – purchased in July.

    I am avoiding units now and focussing on houses and generous land sizes. There are a lot of new units to come onto the market in the near future and i believe this will have a negative impact on prices for units. Yields over the last 24 months have dropped from 9% to low 6% – very low.…[Read more]

  • Old School Skata replied to the topic Depreciation on Townhouses in the forum Legal & Accounting 18 years, 5 months ago

    Much appreciated Scott for your detailed reply. Appreciate your input. This will help with my rough figures come prepurchase analysis.

    OSS

  • Old School Skata replied to the topic Depreciation on Townhouses in the forum Legal & Accounting 18 years, 5 months ago

    Nickleben,

    Thanks for your reply.

    I understand the need to engage a QS but was wondering what results other investors have with them. ie how much write off.

    Ball park figures will do. I understand the numbers will vary according to age, cost and quality of townhouses.

    Any numbers people can throw at me would be appreciated.

    OSS

  • Old School Skata replied to the topic when are you ready to buy IP in the forum Help Needed! 18 years, 9 months ago

    Nice work inez.

    I use the same lender. I explain to the lender what my plans are, provide them with figures and sales figures on other properties in the area for renovated homes. Bank gives me finance and line of credit and when the work is done, i apply back to the bank and ask for a variation on the loan limit. Bank then commissions valuer…[Read more]

  • Old School Skata replied to the topic Brissie seminars in the forum Help Needed! 18 years, 9 months ago

    I contacted Steve Navra’s office about this any seminars in Brisbane to which they said probably but have yet to confirm dates – i am pretty sure they said probably middle August sometime. Their announcement should be made soon check online at http://www.navra.com.au

    OSS

  • Old School Skata replied to the topic when are you ready to buy IP in the forum Help Needed! 18 years, 9 months ago

    That is one way.

    You could look to make some improvements to your home that will add value. Ideally you do not want to spend a dollar that will make a dollar – rather spend a dollar that will make $3. you will need to research this as to what will add the most value (will the work you do add value?)

    Eg Buy house worth $180K. you could paint it,…[Read more]

  • Old School Skata replied to the topic property trusts in the forum General Property 18 years, 9 months ago

    Funny how people think shares are through the roof. Y -because the market is at an all time high? how does the current ‘market’P/E ration, div yields, eps growth compare to the historic figures.

    Anyway back to property trusts. I have holdings in a few listed property trusts. I have gone for the larger capitalised trusts as long as price to…[Read more]

  • Old School Skata replied to the topic Get out of debt first or invest? in the forum Help Needed! 18 years, 9 months ago

    what is the problem with paying for mortgage insurance? For the price of mortgage insurance (approximately 1% of the property based on a 10% deposit of a house $150K) you have $15000 plus all your legals and other costs to enter a property, why wouldn’t you pay approx $1500 to save you time in saving the remaining $15000 for a 20% deposit.) You…[Read more]

  • Old School Skata replied to the topic Can I make an offer? in the forum Legal & Accounting 18 years, 9 months ago

    ….which is why you should ad onto subject finance as arranged by myself as purchaser to my satsifaction – i love the interpretation of “satisfaction”…can be very open…don’t like the letter the bank wrote me, i am not happy with 6.78% i was after 6.77% …

  • Old School Skata replied to the topic Can I make an offer? in the forum Legal & Accounting 18 years, 9 months ago

    i have just signed a contract for a place (finance approved) but the agent made mention of a 5 day cooling off period from the date of signing if i change my mind for whatever reason. I am pretty sure a fee was charged on this being 0.47% (QLD).

    Speak to your local Real Estate Insitute office – REIQ here in qld

  • Old School Skata replied to the topic To live off equity or not to? in the forum General Property 18 years, 10 months ago

    I have been following posts in relation to the LOE with interest as i believe there is potential in this strategy.

    Most of the examples people have listed here show that growth is x% and you drawdown a certain percentage of that, Interest is at x% so your net position is …….

    Um if you still own the properties, don’t you have other expenses…[Read more]

  • Old School Skata replied to the topic trust in the forum Legal & Accounting 18 years, 11 months ago

    you can’t negative gear directly if you personally loan funds (ie if you borrow from a bank) to the trust to purchase in income producing property as the property is held for the benefit of the beneficiaries (even tho this may be you as well). However, i believe if the Trustee decides to pay you interest for the use of these borrowed funds, then…[Read more]

  • Old School Skata replied to the topic Leaving Assets to a Trust in the forum Legal & Accounting 18 years, 11 months ago

    Terry

    Thank you – this was probably the topic i enjoyed the most so i guess the results showed.

    I am 3/4 of the way through it – Currently enrolled in Investment Planning 2 (distance ed) and have yet to do Financial Plan & Construction (last topic). My plan is when i have finished my current project in Weipa i will probably return to Financial…[Read more]

  • Old School Skata replied to the topic Leaving Assets to a Trust in the forum Legal & Accounting 18 years, 11 months ago

    Just a follow up here

    Completed the Estate Planning Course the other week.

    Received 100% for assignment
    and 99% for exam…

    …and do you think i was pleased….[biggrin]

    OSS

  • Old School Skata replied to the topic Do you really need a company/trust? in the forum Legal & Accounting 18 years, 11 months ago

    Lee,

    In regards to the public liability on your properties, i believe each policy will only cover events occurred on that particular property.

    Scenario 1 Eg tenant in house 1 trips over steps and goes through a plate glass window which makes a hell of a mess of tenant. In this instance you may be covered by that policy. However if someone else…[Read more]

  • Old School Skata replied to the topic unused land in the forum General Property 18 years, 11 months ago

    APerry,

    I have engaged the use of a professional (Building Services Firm with Architects, Engineers, Town Planners).

    Ok here is the info to date
    Upon speaking to Council Town Planning, i was informed i could build buildings with a roof over it on up to 50% of land content. This was fine as existing buildings total approx 225m. Council informed…[Read more]

  • Old School Skata replied to the topic Australia’s Best Cashflow positive Suburbs in the forum General Property 19 years, 1 month ago

    Plffrrrp!!

    Hey look, i admire you for asking this question, but honestly… do you think people are going to handover their months of research for other people to go and steal their deals?

    If you want info like this, subscribe to a stockbrokers newsletter

    How about you tell us about the deals you are looking at, give us the street address,…[Read more]

  • Old School Skata replied to the topic Leaving Assets to a Trust in the forum Legal & Accounting 19 years, 1 month ago

    Terry,

    I used to work for one of the 4 pillars as a Financial Adviser from 1998-99 and started studying the old Diploma of Financial Planning, but resigned when the job remained at that time a ‘sales job’ – you know sell product – managed funds and poor ones at that, super, insurance etc and not so focussed on providing workable solutions for…[Read more]

  • Old School Skata replied to the topic Leaving Assets to a Trust in the forum Legal & Accounting 19 years, 1 month ago

    one more thing…

    I forgot to highlight if you pass your PPOR to a Testamentary Trust or natural person – there should not be any CGT payable by your estate.

  • Old School Skata replied to the topic Leaving Assets to a Trust in the forum Legal & Accounting 19 years, 1 month ago

    Before we start it is important to recognise that death does not always constitute a disposal of an asset for capital gains tax, but it does constitute an acquisition for beneficiaries.

    Testamentary trusts are established by someone’s Will when probate (when the proof of the Will is obtained) is granted. It may be of benefit in your example of…[Read more]

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Old School Skata

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