Recent content by Kingsley_L

  1. K

    Finding an accountant

    Don't mean to hijack the thread, but does Warren service regions other than WA? I am looking for an alternate accountant too.
  2. K

    Is it a good time to buy a PPOR in Brisbane?

    That's true guys, with 500k, there are plenty of options. I will just have to look deeper. I am quite keen on south of Brisbane, mansfield/wishart is definitely a good option. With the Mansfield state high being one of the better government high school, close to gateway, M3, and garden city...
  3. K

    Is it a good time to buy a PPOR in Brisbane?

    Budget is around 550k. I am really hoping to build a house since the floorplan of most properties on the market don't really make sense to me. This gives me around 300k for land and 200k for build. I reckon this makes anything within 20km CBD out of my reach. I read the latest API and they...
  4. K

    Is it a good time to buy a PPOR in Brisbane?

    I am glad that everyone agrees now is the right time to enter the market. I bought an IP back in late 2013, another one early this year. So hopefully I didn't miss much opportunity in the past. Also, I know Logan is not the best suburb, especially for a PPOR. But I guess I still have to shop...
  5. K

    Is it a good time to buy a PPOR in Brisbane?

    With the current low interest rate, I am thinking of buying a PPOR in Brisbane, Logan to be specific because it is relatively cheap. I am thinking of buying land, then build a house. Alternatively, buying a cheap land with house, then build a new house after demolishing the original house. Is...
  6. K

    Converting electric cooktop to gas cooktop

    Well, I didn't include the whole story in my original post. But I am moving into this IP as my PPOR for a couple years. And I really prefer gas then electric cooktop. If in the future when I moved out and the tenant isn't happy to pay both gas and electricity, then I guess I will have to get...
  7. K

    Converting electric cooktop to gas cooktop

    Dear all, My IP currently has an electric cooktop and I am planning to change it to gas cooktop. Currently there is no gas pipes fittings in my IP. I was told by my agent that I may need approval from Brisbane City Council to ensure that's allowed. I rang BCC today and they transfer me to...
  8. K

    Question about stamp duty and depreciation

    Dear all, I am currently renting and own two IPs. Due to some change in circumstances, I have to move into one of the IPs I bought in March 2015. Just a few questions for you all:- 1) I paid the full stamp duty when I purchased this IP in March 2015. I plan to move in latest September...
  9. K

    Hong Kong Properties - Caveats

    Is this about inheritance related issues? I found the following links which might be interest of you. http://www.landreg.gov.hk/en/title/daylight.htm http://m.judiciary.gov.hk/en/crt_services/forms/probate_formc.htm P.S I was born and raised in Hong Kong
  10. K

    Planning for 2nd IP and PPOR.

    Hi Terry, specifically, what sorts of advices/questions should I ask my accountant about? Should I have a property in mind and also get the depreciation schedule before seeing my accountant? Thanks heaps.
  11. K

    Planning for 2nd IP and PPOR.

    Just a quick update. I got Bankwest to get me a valuation on my IP and it came out to be $400K. But he said I couldn't use the increased equity to fund my 2nd IP as the overall LVR is still above 90% (currently 91%). So I guess I will have to use the cash in my offset account plus the funds...
  12. K

    Planning for 2nd IP and PPOR.

    Really not much of a strategy I'm afraid. I am buying from this suburb because it is closer to the community that my parents will be happy to live in, shall they decide to move into this property in the future (7-10 years time). $450K can only get a rather "cheap and old" looking sort of house...
  13. K

    Planning for 2nd IP and PPOR.

    Agree. The 95% IO pre approval I got from Bankwest for the 2nd IP doesn't seem to allow me to include LMI. I will have to talk to the bank and see if I can negotiate to capitalize LMI.
  14. K

    Planning for 2nd IP and PPOR.

    Good question and I don't really know the answer. That was my first IP and I didn't know enough by then. I had 5% deposit and If I remembered correctly, 2% of the 5% went to LMI, 2% actual deposit, and the remaining 1% some other charges and fees. Maybe I will give my documents a good look...
  15. K

    Planning for 2nd IP and PPOR.

    Hi Redom, Thanks for your prompt reply. Just a bit more info about my financial situation:- Income: $82K annually Debt: $370K IP loan with Bankwest @ 4.91% IO 100% offset Credit Card: $16.5K limit with CBA. Always pay off in full. Rental income for current IP: $360 per week Rental income for...
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