Recent content by joatmon

Hi I use O'Neil Real Estate in Kelmscott. They are very ethical and professional. I have had experience with other RE agents with great disappointment. Joatmon

Hi all Am looking for a simple yet effective software for monitoring the income and expenditure for my IPs. Have done lots of research and would like to investigate the Property Manager Pro software. Most information about this software stops around 2009. Does anyone still use it? Is it...

Hi everyone I'm just about to buy another IP (not that the banks were particularly helpful) and will require putting in about $50K of cash that currently sits in an offset account attached to my PPOR loan. Is there a way of making the extra interest I now have to pay for my PPOR loan ($50K's...

Hi I recently had an interesting conversation with my MB as I'm applying for a loan for another IP. I currently have an equity loan against my PPOR which is used to pay for the 20% deposit + costs on each IP I buy. This time my MB recommended that I don't add the new deposit to my existing...

some more info Thanks Terrry I have a friend who is an IP developer. He is going to show me the ropes i.e. help me find a suitable property, show me his set up, introduce me to his tradies, RE agents, accountant etc, mentor me through the subdivision process, - all for a small fee. So I...

Hi Is the fee for using a buyer's agent tax deductible? Thanks joatmon

Thanks RumpleElf As I expect the property to be positively geared, we are putting it in the name of the lowest income earner. We don't want to set up a trust at this point, so sharing the ownership of the properties should provide some asset protection (if only some). joatmon

My simple question is: Can I claim the capitalised interest for a property owned by my spouse? :eek: Background: I currently have 3 IPs (purchased in my name) and have my eye on a potentially neutral to +vely geared property (#4). As my wife currently works very hard for no pay (i.e. at...

I have just been given a 1.0% 'permanent' discount by WPac:D. I was on 0.8% discount but have recently gone over the $1M in borrowings with WPac, so I rang them directly (not thru MB), complained about the recent 45bp increase, extolled my loyalty as a customer etc etc. The bloke at the...

Hi everyone Does anybody have any ideas about IP costs still sitting in the equity loan (earning interest) after the IP becomes a PPOR? Is this a difficult question?:confused:

Thanks Leikela and Sash So do you think it's worth paying for a depreciation report for the property even though I can only depreciate plant/equipment? Can I just guesstimate the value of the plant/equipment and give the results to my accountant? The IP will become our PPOR in a year or two.

Hi all I understand that IPs purchased before 1985 are not subject to CGT when sold; nor can they be depreciated (is that right?). What if I buy an IP this year that was built before 1985? Can I claim depreciation on the buildings or plant/equipment; will it be subject to CGT? So is the...

Jonathon, I have more than one IP at the moment but I didn't want to confuse the issue. Sorry for being unclear:o I am about to purchase another IP (which we will turn into a PPOR in 1-2 years time). There will be a mortgage on the IP and I will also fund the purchase using funds in an...

Hi everyone, I have searched the forum extensively without finding an answer to my question. I am about to buy an IP (cost 700K) which will become our PPOR in the next 1-2 years. I will obtain a mortgage (say 550K) against the IP property itself with about another 150K coming from spare...

Hi Housplz I have an income of $65K and currently own 3 IPs and 1 PPOR. My first IP was purchased in 2001 with a lower wage than today (relatively speaking). My total property values hover around $1.7 mill (all 4 properties) with a mortgage of $800K (around $900k equity). Admittedly we've...