Recent content by Befuddled

  1. B

    Does Brisbane still stack up?

    house and land OTP...is still OTP
  2. B

    IP portfolio that performs regardless of market movements!

    Inspired :) Very well done sash 1. What's your approach for purchasing interstate? Say you have your eyes on one. Do you fly down to have a look then reassess or are you happy to make offers sight unseen? 2. Did you ever use buyers agent when buying in a new area?
  3. B

    Rescinding Property offer for existing apartment unit

    Hypothetically, if there is a subject-to-finance clause in the COS (and assuming no penalties for that), would you be able to avoid the 0.25% penalty if you invoked that instead of the cooling off period clause?
  4. B

    Loan Contamination

    Almost impossible to work out as there are 2yrs+ of mixed use. Going back to the milk & juice analogy (or milk and urine :eek:)... What you're saying is start fresh. Go to the bank and swap the milk/juice cocktail for jug of milk and jug of juice, completely separated. Pay off the orange...
  5. B

    Loan Contamination

    Thanks Jess. I did say it was messy :(
  6. B

    Loan Contamination

    My missus is in a tricky/messy situation. The figures below aren't exact but portrays her situation. A few years ago she purchased IP1 for 500k. Instructing her broker to get her the best rate possible, she acquired a loan larger than the purchase price of IP1 by getting her mum to cross her...
  7. B

    GST on rent

    Thanks everyone for clearing it up
  8. B

    GST on rent

    Thanks Terry (yes we went ahead with it :))
  9. B

    GST on rent

    Ok just to clarify because it's still not entirely clear to me. I won't get slapped with a 10% GST bill for the purchase right?
  10. B

    GST on rent

    No. Solicitor said it was fine. Seemed to conflict with ATO page on going concerns though. Does it make a difference if it was a sale of property only and not a business?
  11. B

    GST on rent

    I recently purchased a commercial property under personal name. The property has long term tenants who continue to rent the place. There are no lease contracts in place and we'd like to keep it that way. I am not registered for G.S.T and am not required to at this point (Total rent is not...
  12. B

    Journey so far - $75k salary (average), 5 years, 10 properties

    Great story, very inspirational! Did you purchase all your properties under trusts or do you have some under your name?
  13. B

    Will you choose Parramatta for property investment?

    I thought we're talking about Parramatta, which is clearly allowing high devs. Don't get me wrong. I bought an OTP 2.5yrs ago and another right next door in Harris Park 1.5yrs ago settling in a couple months. But, like you said, I don't think there are any offerings of that nature now that...
  14. B

    Will you choose Parramatta for property investment?

    Nothing wrong with it, except when there's an oversupply that $650 rent potential might become $600 or $550 with no short term prospect of either rent growth or CG.
  15. B

    Will you choose Parramatta for property investment?

    I don't see this as a pro. High elevation = more lifts = high strata. The strata would most likely be 2k+ minimum per quarter. There is a difference between market value and valuation. I think you're referring to market value. Valuation is what banks use to assess how much they will lend...
Top