drop me a line at solored@solo.com.au.

Ross.

There would be no cap. gain as it would be your primary place of residency. But their may be a time limit that is to say if you did the reno in 4 weeks then sold the tax man would call any profit income and tax the lot…..

Companies have no Cap. gains reductions.

Ross.

It’s great to here all of your stories.

I wonder does anyone know if this thread is the longest?

Will it ever stop…..hope not…

RED…

You could do a JV, but would have to be at arms length, has anybody done this?

Would love to know how this turned out.

Ross.

Sounds good….lets have a look.

100k prop. @ 80% LVR. 80k owed @ %6 IO = 4.8k pa.

Refinance other prop say 30K

Now…..100K prop. @ 50% LVR. 50K owed @ %6 IO = 3K pa.

So the diff is 1.8K pa or $34.61 More income per week

But we forgot about the 30K’s interest….
30K @ %6 = 1.8K subtract the extra income you are back where you…[Read more]

Jan Somers has some good boks for newbie’s

check her website out.

http://www.somersoft.com.au/

Latter,

Ross

We have borrowed money in our Discretionary Trust, no prob.’s, you have to go guarantor and supply a copy of the deed as previously stated.

My question would be this?

If Hybrid Trusts are the way to go, could you change the deed of an existing Discretionary Trust i.e. add the new sections to make it a Hybrid Discretionary Trust??

Ross.

I’m Ross and am married to Raelene we have two boys, Rhyan, and Rhiley (The R’s). We live on the Gold Coast and I work in the waste industry while mum stays at home. I’m sure I’ve got the best of it, as you mums out there would agree. Ho and the dogs Lucy the Dalmatian and shadoe a jack Russell.

We started in 1996 and have five…[Read more]

One thing to keep in mind is that if you have property (or land) in the trust you will have to pay land tax on the total value of your holdings. There is no threshold as for individuals.

Are you sure about this, I was under the understanding that a trust was treated the same as an individual??

Captial gain is paid at your personal tax rate, on the whole gain before 12 months or on 50% of the gain after holding the investment for more than 12 months.

Capital gain for a company is 30% on the whole gain.

Hope this helps.

Regards,

Ross.

How about :

1. ” Act Positive and Grow Wealth ”

2. ” The 11 second Rule ”

3. ” How to start you own supper fund using
property”

4. ” Live rich retier Wealthy”

Thanks,

Ross

Good intro, appealing to most peoples dreams

By the way how did you wife fair with here boss???

Ross.

We are Going to build in the coming months (first time building an IP), this is the best way I know to get property at wholesale price.

We may hold on to the home, as it will be positive….

But would like to try and sell it as a house and land package before building.

Has any one out their done this? Seems that you need to have a b…[Read more]

I’d prefer to focus on the road in to Logan from the M1…..Paradise Road…..even stranger….

Ross.

“Beaten paths are for beaten Men”

In our experience of Logan we have had close to 0% vacancy rate.

All properties have been purchased with existing tenants bar one, which was rented before we finished renovating it.

I posed this question to our friends, who on the whole have had the same experiences.

If you…[Read more]

“Money magazine recommend the Woodridge area a few months ago”

Remember when you see things in the papers and mag’s you can be sure that the boat has left.

We have multiple properties in Logan and as yet “touch wood” have not had any trouble. Our friends have properties in Logan also, between us we would have 35+. They also have…[Read more]

I wonder who put him on the path out of the rat race?

Ross.

“The greatest power that a persn possesses is the power to choose”

Enjoyed the forum this year, gained a lot of insight into the world of creative investing.

As for the coming year, hope I can do one better on last year’s effort of three positive properties.

Happy 2003 to all.[]

“A mind STRETCHED to a new idea never goes back to its original dimensions”

It properly depends on your situation.

If you go for capital appreciation you usually need some level of gearing (before tax). New properties or renovations. Tax advantages.

If you go for positive income (before tax) there is no gearing. Older properties, small if any tax advantages.

A mix of…[Read more]