Total Members: 158,997

TheShoulderGuy

  • Hi there folks!

    Luke here looking for some direction, clarity and forum wisdom.

    My Sister and I are both married with (pre-teen) children, in our late 40’s and have mortgages over PPOR and investment properties.

    She lives in Mackay and I in Brisbane.

    All spouses work in (self) employment not significantly affected by COVID…

    My sister and I…[Read more]

  • TheShoulderGuy posted an update 9 years, 5 months ago

    Getting back into the property market.

  • TheShoulderGuy changed their profile picture 9 years, 5 months ago

  • TheShoulderGuy replied to the topic Pre Conference webinars in the forum Heads Up! 16 years, 6 months ago

    Anybody?????

  • Thanks Steve, a quick call to the local council revealed that it is an ''unidentifed easement" most likely for access to storm water pipes as these just touch the southeastern corner of the block. So will need an Engineers Report and a Survey Plan to ID who owns the easement…. most likely local council. Councils preferred access to the easement…[Read more]

  • Thanks Rodeo, not sure what easement is for, easement comes up on a property data website but is not mentioned on council property development website so will contact council for a clarification. Just hoping that it wouldn't impact on any subdivision potential or building potential. Thanks again

  • TheShoulderGuy replied to the topic Negative Gear or Cash Flow positive in the forum General Property 16 years, 8 months ago

    Trakka, how do you approach the vendor with your vendor finance option?? Is it something that you just ask the agent whether the vendor would be interested in it?? Do the banks finance based on any standard LVR??Love hearing about your success.Cheers

  • TheShoulderGuy replied to the topic Purchasing Commercial Property in the forum General Property 16 years, 8 months ago

    Thanks again Scott, I have asked for a copy of the lease and will get check out some of the finer details and will be sure to check all the points you and Trakker have suggested.Hopefully the lease checks out in my favour.Cheers

  • TheShoulderGuy replied to the topic Purchasing Commercial Property in the forum General Property 16 years, 8 months ago

    Thanks Scott No Mates, The space is zoned commercial so would that reduce some of that risk? Tenants in the 6 unit complex are long term with good solid history. Floor space is small at 58m2. There is a small bond in place $1600. Lease is 3 x 3 with renewable option but outgoings are not included.Does this information raise any further eyebrows…[Read more]

  • TheShoulderGuy replied to the topic Purchasing Commercial Property in the forum General Property 16 years, 8 months ago

    Thanks guys for your input. Great stuff.Leased until Oct 2009 at approx 8% yield.Tenant is a hairdresser in a boutique strata titled complex with Doctors, Physios pharmacy etcWill use your tips to gain further information.Just wondering how are these properties valued?? What makes up the purchase price??Thanks agin for your help

  • TheShoulderGuy replied to the topic with $260k-$300k which area in Brisbane would you recommend? in the forum Help Needed! 16 years, 8 months ago

    Congratulations Kylie.Nothing like doing it in the real world and achieving success. Would love to emulate your success one day.Good on ya

  • TheShoulderGuy replied to the topic Buying a house in a Family Trust and renting back in the forum Legal & Accounting 16 years, 8 months ago

    Thanks Terry, so those loses made after deductions etc would be then held in the trust and be offset against any capital gain in the future??? So as an example of a strategy then, if you were to rent out your PPOR for lets say an 8% yield and purchase another Property under a trust structure pay market rent and then any loss made after deductions…[Read more]

  • TheShoulderGuy replied to the topic Buying a house in a Family Trust and renting back in the forum Legal & Accounting 16 years, 8 months ago

    Thanks Terry and Tammy, I am a little confused. But would the rent that you are paying into the Trust be tax deductible? If so to whom or to what entity would this deduction apply? The trust would run at a loss I guess as loan and rental expenses would be greater that market rent paid by me. Thanks again

  • TheShoulderGuy started the topic Buying a house in a Family Trust and renting back in the forum Legal & Accounting 16 years, 8 months ago

    Is it possible to purchase a property in the name of a Family Trust structure and rent back off the Trust. That rent being tax deductible?? What would happen you then did some renovations? How would they be treated from a deductibility/depreciation post of view? I thought I read this somewhere in a McKnight publication?? Hmmmm

    Cheers

  • TheShoulderGuy started the topic Buying a house in a Family Trust and renting back in the forum Legal & Accounting 16 years, 8 months ago

    Is it possible to purchase a property in the name of a Family Trust structure and rent back off the Trust. That rent being tax deductible?? What would happen you then did some renovations? How would they be treated from a deductibility/depreciation post of view? I thought I read this somewhere in a McKnight publication?? Hmmmm

    Cheers

  • TheShoulderGuy replied to the topic how did Steve McNight finance his properties? in the forum Finance 16 years, 9 months ago

    Steve , also sorry to hear about your wife's ill health. Property Investing will and should always take a back seat when personal health and family are involved. Hope all works out for you and yours. Bit harsh I thought to criticise someone on their success. Funny how we tend to think that they (the wealthy or successful) must have done something…[Read more]

  • Thanks for contributing. I have certainly gotten something out of your comments and will take it on board.Cheers and happy investing

  • TheShoulderGuy replied to the topic Macquarie (global limit) LOC in the forum Finance 16 years, 9 months ago

    Who then is best to structure loans going forward. My Broker? My Solicitor? My Financial Advisor? Are you proficient in these areas Richard? Thanks mate

  • TheShoulderGuy replied to the topic Macquarie (global limit) LOC in the forum Finance 16 years, 9 months ago

    Thanks again Richard, PPOR currently with ANZ LOC. Would you suggest talking with them to discuss as would be 1st IP. I am keen on a debt reduction strategy asap. I think interest rate MB quoted for Mac Bank LOC was 7.68% in early Dec 2007 but extra costs of doing transactions with Mac bank would increase the costs of doing business. Yes?Cheers

  • TheShoulderGuy replied to the topic Macquarie (global limit) LOC in the forum Finance 16 years, 9 months ago

    Thanks Richard, is it too much to ask what other lenders you are thinking about to keep loans separate and at a lower interest rate??Thanks heaps 

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