Forum Replies Created
Fullout,
If its any interest to you GE mortgage solutions have a 40 year P/I loan.
Regards
Alex[8D]Hey All,
Heres another point maybe Terry is dirty coz Steve’s book sells better than his.
REgards
Alex
Cool Leigh
Congrats[
] and happy travelling!!!!!!!!Alex
Hi Leigh,
WHich property was it in Nhill???
Regards
Alex[8D]
Just sent the email now……………Hey guys,
Went thru about 5 brokers and that was the best they could get me.
Thankfully the default drops off my rating mid next year so for me its a starting point.
cheersAlex[8D]
Picja1,
Dont mind at all..8.85% at 85% LVR
Alex[8D]
BTW,
If you have credit cards pay them down and drop the limit, i have found these affect your servicability heaps.
Alex[8D]Hey Clown,
Take it from someone who is there at the moment. I have a major unpaid default from a few years ago and never thought i would get a loan from any lender. But i am settling on a houe in November. the tricks are to have a good deposit, establish a good savings history,(in january i made a decision to put 10% of my pay in a savings account and not touch it ita amazing how fast it can accumulate) and have full disclosure with the lender. if you try concealing anything from them and they find out there go your chances.
hope this helps
Regards
Alex[8D]Hey Guys
Well this is my situation. With settlement due on my first IP in November, I have spent thousands on books seminars etc, Which i knew i couldnt claim as i hadnt owned an IP yet. As i have set up a trust structure to buy Ip’s in i can now reimburse myself for the cost of the books seminars etc.
This is the understanding i have gotten from my accountant and a book on trusts i read.Still its best to check with a professional on the matter.
Hope this may help some ppl…regards
Alex[8D]Hey ppl.
I am a plastererand while the money is good the job stability isnt. i have been meaning to get into investing for a while now but didnt really have the confidence to get out of my comfort zone.
But thanks to all of you and especially Steve, Dave and the rest of the team, I managed to get out of that zone and am just waiting for my first IP to settle in Nov.
Kind regards,
Alex[8D]Hi Guys,
Just wanna add some thoughts to this. I am a plasterer working in the western suburbs in Vic. In the caroline springs, Deer park and Melton areas they have so many people lining up to buy new blocks of land to build on and sprc homes that they dont have a waiting list any more, what they do is they actually put all the names in a hat and pull out a lucky few. The demand is still there for people looking for homes. The builders we do work for have a huge backlog and they cant build estates quick enuff.
To me that doesnt seem like i bust is imminent.
People still wanna buy houses.Regards
AlexSteve
You could rent it out to the bereau of meteorology,
they might get some predictions right by replacing their weather balloons with your weather caravan!!!!!!!!!11Alex [8D]
Hi peeps
well the way i see it is if you dont claim depreciation you pay $12125 in CGT when you sell.
So overall CGT would be $12125If u claimed $7k depreciation at the marginal tax rate of 48.5c in the dollar then you would save $3395 in personal tax per year over the 5 years
ie $3395 x 5years is $16975 in personal tax savings over the period.So CGT would be worked out on $85000
ie 85000 x 50%= 42500 After 50% discount
$42500 X 48.5%=$20612.50Therefore we have the scenario.
No Depreciation claimed
we pay CGT of $12125Withe depreciation claimed
We pay CGT of $20612.50
We save in personal tax$16975
Overall tax paid is $3637.50
So technically you would be better off by $8.5K claiming depreciation if you were in the top tax bracket.
Then you have the situation as Rod said that fixtures and fittings dont get deducted from your capital base.
how does that look to u guys?Must stress tho , see your accountant
regards
Alex[8D]ps sorry about the long post
oops forgot the most important thing!!!!!!!!!!!!
KEEP’S THE TENNANT HAPPY
Hi all
Mm 2 cents worth.
I think its much better to leave rents where they are for a stable/longterm tennant.Then when they do decide to move on then increase the rental rate to the market value or whatever price you want.Maybe ask your tennant that you need to increase the rent but in return you will do some improvement to the property. Kill 3 birds with one stone. increase capital value, increase cashflow for banks to see, added depreciation.
Regards
Alex[8D]
Hey Loiuse,
the best place to find out would be to send an email off to the state revenue office of victoria explaining your situation and get your answer straight from the horses mouth.
their web site is http://www.sro.vic.gov.au
regards
ALex[8D]Hey Captain,
Like a few people here i am pretty new to investing. I have been a member of this site for the last 5 months and just in the process of purchasing my first property.
My way of thinking is that i dont take depreciation costs into account in my number crunching.
To me thats the icing on the cake.
I prefer to see positive cashflow before depreciation rather than after.Well thats my 2 cents worth.
Happy hunting Cap,
regards
Alex[8D]
] and happy travelling!!!!!!!!
