PropertyInvesting.com | reidpg | Activity

reidpg replied to the topic Which Block to Sell - Perth Forumites please help! in the forum No Subject

Fri, 21 Apr 2006 11:02:01 +0000

From the responses it looks like Wellard would be easier to sell than Nilgen. If you are happy with the profit on Wellard it may be time to lock in the profit even if it leaves something there for the next person.

If its an emotional decision then choose one and then toss a coin to confirm – seems odd but you’ll soon realise which one you want…[Read more]

reidpg replied to the topic FHBG vs. Tax Deductible Interest in the forum Help Needed!

Thu, 20 Apr 2006 08:14:12 +0000

Sound like a good solution Terry. I missed out on the FHOG because the first place I bought was an IP and it still hurts me. Have to think if the government is going to give you money to buy a property then “grab that cash with both hands and make a stash” – some old Pink Floyd lyrics there – ok i’m showing my age!

reidpg replied to the topic Using IP equity to pay off PPOR in the forum Finance

Wed, 19 Apr 2006 09:14:49 +0000

Here are my thoughts – however its best to check your own solution with a good accountant/lawyer that specialises in Property…

– The things about tax deductability for IP is on my undestanding is that you can only claim the deduction on the mortgage interest costs on the mortgage before it is first rented. So if the property is worth $250K you…[Read more]

reidpg replied to the topic Using IP equity to pay off PPOR in the forum Finance

Wed, 19 Apr 2006 03:11:47 +0000

I think it would depend how you have set up the mortgage on the IP. If it was set up as a line of credit and you have paid some off then there is no problem redrawing to the original LOC. If you want to remortgage then the interest on the new additional amount would not be tax deductable.

Phil

reidpg replied to the topic Tax planning advice in the forum No Subject

Sun, 16 Apr 2006 11:09:10 +0000

Andy,

Sorry cant help you in Perth. Although Trust deeds are pretty standard. It was simple for my account in Sydney to arrange to set up a Discretionary Trust and Trustee Company (would recommend that as you can then control what the trust invests in rather than Trustees). Two resources you can have a look at…[Read more]

reidpg replied to the topic to buy family home or investment property in the forum Help Needed!

Sun, 16 Apr 2006 10:54:40 +0000

There are a couple of things that occur to me here:

1/ If you buy a PPOR and live in it for a period of time (6 months/2 years?) then you can move out and rent the property and its still your PPOR for CGT purposes for 7 years and hence no CGT is payable when you sell provided you havent bought another PPOR.

2/ You potentially could use a…[Read more]

reidpg replied to the topic Westpac and Defence Force Housing in the forum No Subject

Wed, 05 Apr 2006 09:33:52 +0000

DHA is a balance of risk and return – low risk and low return. But then – no maintenance, prompt payment, a good tenant and a long term lease – but is it worth the double digit management fee?

Steves point about Superfunds is a good one. No real harm having a small exposure to this in a well balanced super fund.