Hwd007

Yes – if you under or over estimate your taxable income the tax office may penalise you.

Your idea sounds like a bit of cash flow juggling… I guess it sounds ok but what happens if you don’t really have anything to spend the $2,600 on? You don’t want to put yourself in a position where you have to find things to do just to ensure your…[Read more]

Hay, hay, hay we’re getting off the topic aren’t we???? []

Stamp duty is added to the Cost Base when working out a capital gain (Section 110-35)… that is…you work out a capital gain by…

Sale price – index cost base = taxable gain

Topic ideas

Thanks everyone… keep them coming.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Hi Xenia

I totally agree with you. I would use the equity as you are suggesting (otherwise its an underutilised asset). I think Steve would agree with us… or perhaps I need to listen to FastTrack again.

Steve???

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

You aready know the answer to that one AD… ProSolution

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

If your gross rental yield is high enough then the property might qualify by itself.

Two points:
1. Most lenders only take between 75% to 90% (one at 100%) of the gross rental income.
2. All lenders will calculate serviceability based on P&I repayments at a benchmark rate (a benchmark rate is the current interest rate plus a margin).

Here is an…[Read more]

Hi Helen

No I haven’t used them – I prefer to do the work myself.

I have referred clients to them before and I know them reasonably well. When I started ProSolution I went around and spoke to about 10 buyers advocates – these were the best in my opinion (in terms of experience, qualifications, professionalism). My suggestion is look for someone…[Read more]

Hi TJ

Yep, the banks will count pension income towards serviceability (provided it’s ongoing). However, the pension isn’t that must is it? Their maximum borrowing capacity would not be that great.

However, the main thing this person will need to prove is genuine savings. That is, they will need to demonstrate that they have been able to save 5%…[Read more]

Hi Helen

You might want to check out:

Janet Spencer at http://www.buyersolutions.com.au/; and/or

David McRae at http://www.david.mcrae.net/.

They are buyers agents that I would trust.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Hi Choc

I would also suggest reading:

1. Streets Ahead by Monique & Richard Wakelin.
2. Real Estate Riches by Dr Dolf De Roos.
3. Get a copy of Steve’s FastTrack tape.

These are good resources that will give you a good overview of property and strategies.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Hi PB

Why don’t you post some of your numbers on the forum for people to comment…

quote:I have played around with variations on LOC, P&I and Fixed loans and I get various degrees of success.

The decision to go P&I, interest only, fixed is a very personal one and really depends on your investment objectives, risk profile and personal…[Read more]

Hi Everyone,

I guess it’s my return now…

Ok, up until just a year ago I was working for a Big 4 international accounting firm (Deloitte) in Corporate Finance preparing company valuations for mergers and acquisitions. After doing a bit of reading (e.g. Robert Kioysaki) I decided that being an employee was not the way for me to become f…[Read more]

Ok, I think I might have found the answer…

If you go to Baycorp Advantage’s website to it FAQ – “What is on my credit file?” (see http://www.mycreditfile.com.au/help/faq_personal.asp?CountryID=1&UserTypeID=11)

It says:

quote:
What is on my credit file?
Information about you and your credit history including:

– Personal details such as: name:…

[Read more]

Congratulations Ish!

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Two things:

1. Land tax – go to the State Revenue Office website for more information e.g. http://www.sro.vic.gov.au.

2. Mortgage insurance – can range between 1% to 2.5% of the loan value depending on LVR (e.g. above 1% if LVR is 85%, about 2.0%/2.5% if LVR is 95%).

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Hi Jumbuck

If you have purchased well then ‘demand’ should have a greater impact on your property’s value rather than inflation or deflation.

Remember that housing is a commodity – everyone needs one. Even in a deflating market the quality areas and assets may still benefit from some capital growth.

But who knows where the economy is going to…[Read more]

I can understand how you can have unlimited finance from a serviceability viewpoint – so long as your average rental yield is high enough.

But doesn’t unlimited finance require unlimited deposits?

I can’t understand how you can have unlimited finance with a limited amount of deposit.

My only thought at this stage is to build this requirement…[Read more]

Hi PB

Just a couple of points (you may already be aware).

Commercial finance (this might be classified as commercial because it’s a B&B business) is more expensive than residential finance so perhaps the best way to fund this deal is out of your line of credit. Commercial properties have some great advantages over residential properties but the…[Read more]

Hi Smirkyy

Yep, sure can…

Check out Janet Spencer at http://www.buyersolutions.com.au/

Or David McRae at http://www.david.mcrae.net/

These are both honest and professional buyers advocates (no other reason for me referring – no kick backs or anything like that).

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

My vote is IP, IP and another IP!

Enjoy the Carlton lifestyle while making money from property investing… can’t get much better than that.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Thanks for your feedback guys.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au