PropertyInvesting.com | petebell | Activity https://www.propertyinvesting.com/members/petebell/activity/ Activity feed for petebell. Sat, 02 May 2026 01:42:46 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 d1f4e5473afc8d8f9901330fa2fa8ade petebell replied to the topic Wraps in the forum Creative Investing https://www.propertyinvesting.com/topic/4380497-wraps-13/#post-4518161 Mon, 30 May 2005 02:28:59 +0000 Hi Paul,

So when do you have to pay the CGT?

Surely you dont have to include the ‘on paper’ capital gain on your tax return that year???

Pete

]]> e5ad5eb668563a18d7390cf002f50f12 petebell replied to the topic choices as to where to live and be wisel in the forum Creative Investing https://www.propertyinvesting.com/topic/4380512-choices-as-to-where-to-live-and-be-wisel/#post-4518240 Mon, 30 May 2005 00:33:35 +0000 Hello,

I looked into this and my feeling is that you can rent out your ppor, and RENT somewhere else, and still claim a CGT exemption. However if you BUY another ppor, then you can still only claim one property as your exempt proprty (you can choose to nominate which property gives you the best tax position). It looks like you bought another…[Read more]

]]> 026c94f416d8d32b907f38d2ce5a749b petebell replied to the topic $400k windfall, what would you do? in the forum Creative Investing https://www.propertyinvesting.com/topic/4380461-400k-windfall-what-would-you-do/#post-4517894 Sun, 29 May 2005 23:58:00 +0000 OK so far we’ve got:
1.debt free residential property
2.income via private lending
3.commercial property
4.buy ppor

Anyone done any of the following and would like to share their experience with:
1.Listed property trusts
2.Joint venture projects
3.Buy a block of units, strata and then wrap to the tenants
4.Developing vacant industrial land in to…[Read more]

]]> 4c9626288c15dc43e733131a8c2d84ed petebell replied to the topic Wraps in the forum Creative Investing https://www.propertyinvesting.com/topic/4380497-wraps-13/#post-4518159 Sun, 29 May 2005 23:34:35 +0000 Hello,

Any experienced wrapper can correct me if I’m wrong but I thought that the settlement date was 25 years or so in the future, or when they refinance whichever is sooner, therefore you dont have to pay the CGT liability until you have received a either 25 years of payments or settlement cheque from the refinance, either way you will have…[Read more]

]]> 765b5111ae1dddce288713ef8cf82762 petebell replied to the topic $400k windfall, what would you do? in the forum Creative Investing https://www.propertyinvesting.com/topic/4380461-400k-windfall-what-would-you-do/#post-4517888 Thu, 26 May 2005 01:34:33 +0000 what do you mean by mortgage backed private funding? 2% per month sound pretty good, where can these be found?

]]> 29cb5d3e3775cbf41cd0211e46a51512 petebell replied to the topic Next Step After Owning My PPOR in the forum Help Needed! https://www.propertyinvesting.com/topic/4380460-next-step-after-owning-my-ppor/#post-4517877 Wed, 25 May 2005 23:31:37 +0000 Hello Cutegirl,

You can get 90% and 95%lvr low doc loans, but watch out for higher interest rates…

Pete

]]> 6edbb6639e85d945f494ebfff39ad8ca petebell replied to the topic Strata storage units and carspaces in the forum General Property https://www.propertyinvesting.com/topic/4377156-strata-storage-units-and-carspaces/#post-4496488 Fri, 26 Nov 2004 04:27:53 +0000 Hi Aussie,

I definatley agree, I dont feel like a 7% return, nor do I feel like using heaps of cash to get a tiny return, but I also dont feel confident enough to develop a storage complex, but hey it might not be as hard as you might think…

I’ll have to think it through

]]> 494da036d86eb1ec3279626122647a3a petebell replied to the topic Frequent Flyer Mortgages in the forum No Subject https://www.propertyinvesting.com/topic/4376802-frequent-flyer-mortgages/page/2/#post-4494522 Wed, 17 Nov 2004 05:32:16 +0000 I thought there was some speculation at some point as to whether the ATO was going to put a cap on the amount of points that could be gained through business/investing activities (including credit cards and mortgages) where the points are used for personal use.

For example a frequent business traveller who clocks up 100,000 points pa from…[Read more]

]]> 4b9edd24a2b7862b3146859f085ae146 petebell replied to the topic Frequent Flyer Mortgages in the forum Finance https://www.propertyinvesting.com/topic/4376802-frequent-flyer-mortgages/#post-4494520 Tue, 16 Nov 2004 07:58:26 +0000 OK, I just went to the ATO website
http://www.ato.gov.au/corporate/content.asp?doc=/content/mr9739.htm
and it looks like the rumor I heard about points being subject to FBT (past a certain number of points pa) may not be the case. However, I think that at the end of the day, what you are really after is the best deal, and I think that revolves…[Read more]

]]> b205af03e59964ecb8ecb0c22a4a2f8f petebell replied to the topic Frequent Flyer Mortgages in the forum Finance https://www.propertyinvesting.com/topic/4376802-frequent-flyer-mortgages/#post-4494518 Tue, 16 Nov 2004 06:10:48 +0000 Appologies to those offended, I was merely talking about my experience with the Ansett frequent flyer linked mortgage, which then got onto the point (pun) that the points are rarely worth getting if you have to part with any extra cash, be they from a credit card or from a mortgage.

Whatever…

Pete

]]> b4963700161e94d09ed837229ac0e165 petebell replied to the topic Frequent Flyer Mortgages in the forum Finance https://www.propertyinvesting.com/topic/4376802-frequent-flyer-mortgages/#post-4494516 Tue, 16 Nov 2004 05:36:19 +0000 I am still of the opinion that dollars are better than points.

I would never trade dollars for points (by paying more than I need to)

The way I see points is that they are last thing to consider. ie all things being equal I will buy from the retailer who has points on offer, over the retailer who is not offering points, and ultimately this is…[Read more]

]]> 397e9ea08295efd7dbb4f0017c6b4c93 petebell replied to the topic Margaret Lomas in the forum Heads Up! https://www.propertyinvesting.com/topic/4372328-margaret-lomas-3/page/3/#post-4463365 Fri, 12 Nov 2004 08:42:46 +0000 Right, so I was half way there, it’s just the building depreciation that you have to pay back. Hmmm… at the end of the day any advantage you can get from the ATO I guess is a good one.

Thanks Scott.

Pete

]]> bf4df2af4e0303665074cefecaad0c35 petebell replied to the topic Margaret Lomas in the forum Heads Up! https://www.propertyinvesting.com/topic/4372328-margaret-lomas-3/page/3/#post-4463363 Fri, 12 Nov 2004 07:36:00 +0000 I went to see one of Margarets franchises and was very disappointed. They seemed eager to get some money off me for their program (which was basically using an offset account and a credit card) and then they monitor it and tell you that you’re “doin’ great!”
We never got onto the buying property side of things as they couldnt give satisfactory…[Read more]

]]> 84bd3d88f893cc3260438ee22926b976 petebell replied to the topic Interest Saved on Offset account in the forum No Subject https://www.propertyinvesting.com/topic/4376962-interest-saved-on-offset-account/#post-4495362 Fri, 12 Nov 2004 06:36:00 +0000 As I said, it is not income.

My question for you is why would you want to try and use interest earnt (or avoided) on cash in the bank, as extra assessable income in order to borrow more money, wouldnt you be better off to use the cash that you have?

This makes no sense at all…

Pete

]]> 9c3ac0f1332ee793ff5e54615efafe89 petebell replied to the topic CALLING ALL MORTGAGE BROKERS in the forum Finance https://www.propertyinvesting.com/topic/4376959-calling-all-mortgage-brokers/#post-4495352 Fri, 12 Nov 2004 05:56:46 +0000 Unfortunately Spanky, casual earnings are assessed pretty much across the board in the following way:

0-12 months =0% of your regular earnings.
12-24 months = 50% of your regular earnings.
24months+ = average of last 2 years of earnings.

The sort of lenders that would consider casual earnings are generally the non-conformers like…[Read more]

]]> 9d837b9192edcb34404bc5fd0e57c90f petebell replied to the topic Interest Saved on Offset account in the forum No Subject https://www.propertyinvesting.com/topic/4376962-interest-saved-on-offset-account/#post-4495360 Fri, 12 Nov 2004 05:43:28 +0000 Offset savings cant be regarded as earnings, because they aren’t earnings.

Pete

]]> 82dad092bfddd7d3652d1d3fc44462a3 petebell replied to the topic Frequent Flyer Mortgages in the forum Finance https://www.propertyinvesting.com/topic/4376802-frequent-flyer-mortgages/#post-4494510 Fri, 12 Nov 2004 05:16:08 +0000 Talking Credit Cards for a sec, I love my CC, it costs $49pa and I reckon I’ll get about $200 worth of petrol and vouchers this year.

The only time it is worth getting points is when you have to buy whatever it is anyway and you have found the lowest price. eg I would rather pay 95c/L for petrol with no points than 96c/L with points.

The…[Read more]

]]> 4c1b9dbd502c42905f26058a7eebbd06 petebell replied to the topic early pay out penalties in the forum Creative Investing https://www.propertyinvesting.com/topic/4376847-early-pay-out-penalties/#post-4494761 Wed, 10 Nov 2004 07:42:12 +0000 I have been wondering, when the wrapees eventually refinance, is it a refinance, or is it really that they bring forward the settlement of the loan that they have with you. Dont you as the wrapper actually own the property? ie it is your name on the rates notice.

So when they “refinance” and pay you out, they are really getting a loan through…[Read more]

]]> df345ff74559a9bd641b1433f73cf866 petebell replied to the topic It starts now in the forum No Subject https://www.propertyinvesting.com/topic/4376900-it-starts-now/#post-4495043 Wed, 10 Nov 2004 02:21:10 +0000 Hi Matt,

I am in a similar situation, and thinking of wrapping. I live in Brissy and would like to share ideas. I can probably help you with your mortgage strategy as well.

If there is anyone else who would like to meet up, we could organise a bit of a gathering one weekend…

Pete

]]> 1a591dc5c98a87e4044747ccd56ca192 petebell replied to the topic BEST CREDIT CARDS in the forum No Subject https://www.propertyinvesting.com/topic/4376856-best-credit-cards/#post-4494790 Tue, 09 Nov 2004 08:40:34 +0000 I like the Coles Myer Source Mastercard.

Interest rate – dont care, as I have never paid any interest on a CC.[biggrin]
Application fee – $49 if you want it linked to fly buys, $1 = 1 point (13000 points = $100 gift voucher)[biggrin]. OR nil app fee if you dont want fly buys.
The bit I like is 62 days interest free.[biggrin]

Pete

]]> d337472a3ab98eed239d74e877d49e98 petebell replied to the topic Frequent Flyer Mortgages in the forum Finance https://www.propertyinvesting.com/topic/4376802-frequent-flyer-mortgages/#post-4494507 Fri, 05 Nov 2004 02:25:24 +0000 I considered refinancing to bankwest (I think) a few years ago, purely because of the frequent flyer points program it was attached to, but after I did my sums the extra interest paid because of the higher interest rate would have bought the same amount of air travel anyway. I would rather have the cash instead of points. Ansett then went broke…[Read more]

]]> 91a69595532eaa63cda0203be594f637 petebell replied to the topic New property in the forum General Property https://www.propertyinvesting.com/topic/4376819-new-property-2/#post-4494591 Thu, 04 Nov 2004 04:39:02 +0000 For you or for the vendor???

You’ll be about $16,000pa in -ve cashflow, and thats before management, rates etc.

Think carefully…

Pete

]]> ab09415767ba39f7e1bb321426c5b259 petebell replied to the topic Serviceability will limit finance? in the forum No Subject https://www.propertyinvesting.com/topic/4376818-serviceability-will-limit-finance/#post-4494586 Thu, 04 Nov 2004 02:23:19 +0000 Hi Michael,

The general equation for figuring out if a property will add to your servicability or detract from it is this…

Assessed annual rent – Assessed annual interest

(Rent received x 80%) minus (amount borrowed x interest rate+2%)

For example.

If you found a property returning $11,000 pa, you would have an assessed rent of $8,800pa.…[Read more]

]]> 1901acbc7483a9b1a06e44ac6f71e9a0 petebell replied to the topic How RICH ! Do You Want To Become ? in the forum General Property https://www.propertyinvesting.com/topic/4376244-how-rich-do-you-want-to-become/page/5/#post-4491436 Thu, 04 Nov 2004 01:20:34 +0000 Thanks for the encouragement Phil,

Good to know that someone with runs on the board thinks Im on the right track, and thanks for the opportunity to test your book, got your email and will start reading it tonight.

[biggrin]

Pete

]]> f8698a30d771f0eb94c49d8ea61e0a45 petebell replied to the topic Investing in the lower end of the market in the forum General Property https://www.propertyinvesting.com/topic/4376803-investing-in-the-lower-end-of-the-market/#post-4494524 Wed, 03 Nov 2004 07:54:53 +0000 Generally you can only borrow about 65% of the pp on these, and then count only 60% of the rent, if you have no cash these will be really tough to buy.

Also as it is an investment only property, FHOG’s doesnt apply, so for a $100k pp, you will need probably 45k in cash, (35k deposit and 10k to close)

Pete

]]> 27e7abed22d96fd784dc742891c8d2e1 petebell replied to the topic How RICH ! Do You Want To Become ? in the forum No Subject https://www.propertyinvesting.com/topic/4376244-how-rich-do-you-want-to-become/page/5/#post-4491434 Wed, 03 Nov 2004 06:34:21 +0000 Fortunatley, I really mean that, they got the whole thing first go, and I am now 100%. I put on about 30kg after the op from the steroids I was put on. That day, I won the lottery, in health terms, everything works, no ongoing sideaffects, but as you say, gets the focus real sharp, real quick.

]]> 762d00e49f52dcee473613685628d064 petebell replied to the topic How RICH ! Do You Want To Become ? in the forum No Subject https://www.propertyinvesting.com/topic/4376244-how-rich-do-you-want-to-become/page/4/#post-4491430 Wed, 03 Nov 2004 04:56:36 +0000 To me, being rich is not a financial goal it is a life goal, something that you cannot attain by owning heaps of houses, it is a deep satisfaction that you what you are doing/ have done is valuable. That may come from the relationships that you have built over the years. It may come from giving to charity, it may come from buying the rainforests…[Read more]

]]> 2dc2fb613ed4cdcb16f1f436c74a61ed petebell replied to the topic Regulated Loan in the forum Finance https://www.propertyinvesting.com/topic/4376784-regulated-loan/#post-4494442 Tue, 02 Nov 2004 09:48:21 +0000 Hi Intrinsic,

Yes a regulated loan is “regulated” by the UCCC, (Uniform Consumer Credit Code). Unregulated refers to loans for Business or Investment purposes.
There is a certain level of protection available to consumers under the UCCC, for regulated loans. If you are borrowing for business or investment purposes, it is assumed that you know…[Read more]

]]> 75cef455dc023bb3777fd24103218460 petebell replied to the topic CGT if I sell in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4376437-cgt-if-i-sell/#post-4492638 Tue, 02 Nov 2004 03:45:28 +0000 Thanks Julia,

Love the name, BAN TACS

Ps. Been to Beachmere, got a client there…

]]> a296107d3a84e818e545be95674450be petebell replied to the topic questions for the bird doggers.... in the forum No Subject https://www.propertyinvesting.com/topic/4376696-questions-for-the-bird-doggers/#post-4494106 Tue, 02 Nov 2004 03:02:05 +0000 Hi all,

Another question for the Bird Doggers, do you only find property deals or do you also find wrap clients? or both?

In my profession I come accross potential wrapees, but dont have the ability to wrap them myself at the moment.

Anyone with suggestions on how to turn this into a deal?

[biggrin]

Thanks

Pete

]]> a72f6ee58e255e4b01946d247e7d07d3 petebell replied to the topic looking for partner in doing lease options and wra in the forum Creative Investing https://www.propertyinvesting.com/topic/4376528-looking-for-partner-in-doing-lease-options-and-wra/#post-4493298 Tue, 02 Nov 2004 02:52:48 +0000 Hello,

I also live in Brissy, and am interested in Wraps, but havnt done any yet. I also have access to potential wrap clients and finance.

PM me.

Pete

]]> 8ce211c3a39e5950b7e43b9a8579c85c petebell replied to the topic looking for partner in doing lease options and wra in the forum Creative Investing https://www.propertyinvesting.com/topic/4376528-looking-for-partner-in-doing-lease-options-and-wra/#post-4493297 Tue, 02 Nov 2004 02:51:40 +0000 Hello,

I also live in Brissy, and am interested in Wraps, but havnt done any yet. I also have access to potential wrap clients and finance.

PM me.

Pete

]]> ae820edb739db97f16afbfb6c85e3a66 petebell replied to the topic CGT if I sell in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4376437-cgt-if-i-sell/#post-4492636 Mon, 01 Nov 2004 02:31:25 +0000 Hi Julia,

so… If I buy my PPoR, live in it for 2 years, rent it out for 2 years, then sell, having not bought anywhere else, the gain is CGT free, is that right?

or do I need to move back into it for 12 months?

Thanks

Pete

]]> aa460b7a217adc6ad9a72a3d37b095c0 petebell replied to the topic Innovative ways for a deposit in the forum No Subject https://www.propertyinvesting.com/topic/4376487-innovative-ways-for-a-deposit/#post-4492952 Fri, 29 Oct 2004 01:42:05 +0000 Maybe Yack, but you have completely left out all the closing costs. Remember that the more you borrow (% LVR) the more you pay in closing costs. If you were to borrow 95% on a $250k purchase price, you are up for around 2.5% of the loan amount in LMI, which is about $6k, plus stamp duty on the LMI, plus stamp duty on the purchase (which varies…[Read more]

]]> c76213f591df8c1620e3fcf91bbfb97e petebell replied to the topic Wizard Head Start Shared Equity Loan! in the forum Finance https://www.propertyinvesting.com/topic/4376663-wizard-head-start-shared-equity-loan/#post-4493940 Thu, 28 Oct 2004 04:33:17 +0000 it is available for owner occ only,
every 1% over the purchase price equates to 10% of the growth, ie borrow 104%, you lose 40% (or keep 60% – depends on how you look at it) its definatly not for everyone, but will suit some borrowers. there is also a 100% loan where you dont forgo any of the growth, but again only for owner occ. interest rate is…[Read more]

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