chrisaus wrote:
Guys,I have just purchased an investment property which is currently tennanted. I am in the market for a trailer/ute as I do all my own maintenance on the property and it's a real pain carting tools around with my 4d family sedan.Is the purchase price of a trailer/ute tax deductable if you have an investment property?

The…[Read more]

https://www.loans.com.au/Pages/Home.aspx

Ummm did loans.com.au just increase it’s rate from 6.59- too 6.69 ??? without RBA movement, or was it a special rate etc???

and it looks like they changed the “5 years RBA linkage” down to 3 years..wonder what else has changed?

HI,

You wil need to live in it WITHIN 12 month…so if the lease ends in 12 month time from the day you buy it…you may not qualify;
http://www.osr.qld.gov.au/eligibility-testers/fhog-decision-tree.shtml

Regards
Michael

narboz wrote:
Hi Terry, No, we will slowly build this with our own money.  But, Paul asked whether there was a chance of setting the farm up on a business/commercial loan.  cheersLInda

Hi,

For the farm type and size your after..it be def commercial loan. From the sounds of thing you dont have any solid exp in farming?? t without knowing you…[Read more]

narboz wrote:
HI, I am hoping someone can help me.We have found 60 acres that we would like to purchase.  We have made an offer of $630k.  We would like to borrow $460 against the property to pay the owners $400 and clear $60k debt, we would then pay the onwers the rest in 24 months.  To combine our debt with the amount of $400k would free up c…[Read more]

Tracey B wrote:
Wow, that was quick – thanks Michael.  I will email you later with further info.So can I just check – you're saying that even if 4 were with say NAB and 4 with another lender, only one would give 90% LVR and the other 80% LVR?

Yep…that’s cos the LMI providers will NOT insure more then 25% Risk per building. and since the…[Read more]

Great work Alistair- alwasy good to have a “visual” video.

The only negative is the voice over/talkers are very “flat”…

Regards
Michael

Tracey B wrote:
To the finance guys:  We are about to sell an 8 unit property and would like to understand whether purchasers may be able to borrow 90%.  These ones are on individual strata titles, have laundries internally, fully tenanted, in a city of 100,000.  Expected listing price will be $1.1M, offering the purchaser a 6.7 gross yield.  Wo…[Read more]

Hi,

1. Is your parents just going to borrow the money as it is ? ie a personal loan OR
2. Borrow against any property they owned as equity? ie a home loan

For them to be able to claim the tax deduction they need to meet the purpose test; and if the purposes is for “investment” then yes that’s fine…but in your case i would say it would be…[Read more]

Without knowing the addy- i can you;

1.It;’s zoned residential…but it be residential 2b or 2c
2. Being close to the uni-it’s 90% chance it;s a student accommodation/boarding house..
3. 7 bathroom= boarding house automatically
4. The agent most likely gets 4-9 separate rent…ie not one tenant

With any of the above 4 points…your going to have…[Read more]

melb15 wrote:
Hi Michael,
I think you were thinking I was the landlord but we are in fact the tenant in this case. So what you are saying is that we should be paying for most of this stuff right?

Liam

Hi Liam,

Sorry yes i was referring from a landlord’s point of view.
If you want to negotiate with the landord i would highly suggest you cut…[Read more]

melb15 wrote:
We’re about to sign a lease on a brand new warehouse/office. Downstairs is warehouse upstairs is the office. The place is brand new so it is like a blank canvas. We let the landlord know what modifications we required and they proposed the below allocation of who will pay for what. I just have two questions:

1. Does this…[Read more]

ferdinandch wrote:
Hi Michael

Sorry to inform you, that I likely to accept an offer from a solicitor who will charge me $750 fixed fee all inclusive if I use mortgage broker he refers. I apologise if you have done some works. I hope I still can ask some questions if I am unsure about smth.

Regards,

Ferdinand

Hi Ferdinand,

That’s fine. My…[Read more]

Terry- it’s a shame you dont do conveyancing work anymore, you are so knowledgeable in this field.

ferdinandch – Standard fees in Sydney are: conveyancer – $850-1000 + you pay for any report/search you require ie Sparta report/building report

Lawyer – they normally charge as a “package” $1,500- includes all required searches etc…

So $990 ALL…[Read more]

slowachiever wrote:
Great  topics ,I have just been tracing information myself for possible restructuring .I have found the same a few property groups I went to see , have been full on into tax benefits not interested at all about any positive gearing as it will attract tax .Although we do need to be tax effective in our property portfolios.But…[Read more]

Great Post Anthony!

Regards
Michael

Terry pretty much covered it.

LMI refund is possible and it happens; especially if the loan is discharged in the 1st year. It will be written in your loan docs and most of the major 4 banks allow prem refund; however it is case by case…if in doubt aks your broker/banker.

Straight from Genworth”

No refund is payable where:
separate…[Read more]

tjunction wrote:
Thanks Richard and Michael for your valuable responses.Michael: the other lender I found that was willing to do 80% residential loan, pulled out because the units didnt have individual laundries.  I havent heard of that one before….

That’s very common.
No individual landries 50% of the time means it’s part of a boarding…[Read more]

OK- yep you be able to claim the 1 bedroom from Nov- June. could be worthwhile, spend ~$700, should be able to get $2,000 back i would think.

Just note the things thats Deprecating the most is the “internal” (70% of the cost) .

$650 is on the expensive side for a Depreciation report…you could arrange a cheaper price ( more then 50% off) if…[Read more]

it’s 12 month before you get the 50% discount on CGT..

HOWEVER i dont think the original poster was asking about CGT — as a matter of fact i dont think he/she is selling lol

Amit – since it’s been your investment home for only ummm 1 -2 month? ( may – June) then what ever you get from the depreciation report it will be pro-rated 2/12….so…[Read more]