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  1. devank

    Inefficiencies of PMs

    Just wondering if your PM is as hopeless as mine? Here is a email communication happened with my QLD PM over a week period. Agent: Please advise your instructions for the lease renewal of *No, Street name*, Edens Landing. We recommend a 6 month term at the current rental prie of $380.00...
  2. devank

    Facing a war

    It is a depressing thought but a war seems very possible the way US & Russia are behaving. Sorry about bringing this up. I grew up in a war-torn place so I can't stop worrying about it! Now, if that happens, what can we do (financially) to protect our families? Would buying a property in...
  3. devank

    Refinancing cost ? Where to allocate?

    Hi, Recently we refinanced a loan (say IP1) to extract equity as well as make the LVR from 80% to 90%. Here are the numbers. Loan Paid Out= $290 K LMI = 6K Registration of Mortgage = $162.90 Registration of Discharge of Mortgage = $162.90 Title search fee = $27.90 Surplus Funds = 59K New Loan...
  4. devank

    Missed depreciation - Is it ok to add following year?

    I made two small mistakes in last tax return. 1. Did not include the depreciation component in 2012/13 tax return. IP was bought late June 2013. I didn't include in the 2012/13 tax return as there wasn't any rental income but there is a small depreciation amount belongs to last financial year...
  5. devank

    What are the ways to delay Trust distributions?

    My understanding is that, all income needs to be distributed in the same financial year. Just wondering how we can postpone trust distributions to go into next financial year? Can we buy shares (or term deposit) in the Trust's name and then later sell it when ever we need to money to be...
  6. devank

    Woolies or W3ightW@tchers or Contracting

    Hi, I would like to get some opinion of others who have similar interests to me. I have been contracting for last few months. So far so good. Decent rates. Fun to work with different clients at the moment. I got almost a verbal offer from W3ightW@tchers for a permanent role. 15 min walk...
  7. devank

    Arrogance vs Confidence

    {Edit: split from this thread} Few random thoughts: :D Difference between 'Arrogance' & 'Confidence' - Is it in the eye of the beholder? Do we need little bit of arrogance needed for financial/career success? Personally I don't mind a bit of arrogance if that person is really good at what...
  8. devank

    Invest like Warren Buffett: Free ebook

    I'm good at 'collecting' books :rolleyes: Here is another. Invest like Warren Buffett: How a newspaper delivery boy earned 58 billion dollars
  9. devank

    Separating expenses from net rent

    I'm refinancing a loan to extract equity. Extra equity is going to be placed in an offset account. This fund is mainly going to be used for future deposits. At tax time, I was going to simply divide the interest charged based on the amount borrowed against each property. I was also planning to...
  10. devank

    Somebody please hit my head hard

    Why? Because I want to do PhD! That would take away three years of investing. Few Facts: Age now - 39 IPs - 2 mil assets with 85% LVR and 5K negative cash flow. We can survive on wife's full time income + little bit from tutoring at uni. Will it improve my earning capacity? I don't...
  11. devank

    Diversification Vs Repeat what you are good at

    Almost all financial planners suggest 'diversification'. Successful property investors would say "Repeat what you have done". Does anyone feel above two are kind of contradictory? When do you say "Ok... my exposure to property is enough. Now time to look at other vehicles?"
  12. devank

    LVR - 80% Vs 90%

    I'm aware of financial benefits of going 89% such as - more money for deposits - more deductions However, I'm beginning to think 80% may not be bad either. Few reasons: 1. No LMI. 2. No strings attached. Can move anywhere anytime. 3. Relaxed valuation 4. Better rates 5. SANF 6. You can always...
  13. devank

    350K to 800K in 6 years

    Have a look at this property I was watching this property. In 2007, a UK resident bought this property 350K. I believe the $$ was lower at that point. Then his needs changed so he decided to sell it after year. Sold it for the same price... but the $$ value was higher so he didn't lose much...
  14. devank

    Granny flat sensibility check

    Hi, I have an IP in Ashtonfield (NSW). It is valued around 440K now. Currently returning $440 per week. I gave it go with a rough 'configuration' (pls see attached). Do you think it can work or is it too crowded?
  15. devank

    Michael Yardney Sydney Event Sat (15 Mar 14)

    I'm planning to go. Is anyone interested? I can send a free ticket. Let me know if anyone is interested.
  16. devank

    Chinese wealth flowing into Australia

    This is taken from a SBS page. Nice feel good article :) What is luring China's wealthy to invest in Australia - and what does it mean for the national economy? By Primrose Riordan
  17. devank

    NBN inhouse wireing

    NBN fibre equipment is placed a box outside the garage (ground level). I would like to place the NBN connection box in the linen cupboard located in upstairs. This is where the phone ( & ADSL) connection is now. Connections to all rooms (via RJ45) starts from here. NBN guys are saying...
  18. devank

    Pre-Paying interest ? Your portion only

    I'm in a situation where my annual leaves (more than 3 months) paid out just before the end of financial year. There is also 6 months termination pay but I believe it is taxed at lower rate. That means I would get 21 months worth of pay coming in this financial year but less than 1 year worth of...
  19. devank

    Aha! Moments

    Have you had a "Aha" moments? Be it spiritual or investments. Many people claim that they had an 'awakening' moment during a spiritual activity or 'aha' moment when reading 'Think & Grow Rich'. I had a religious upbringing and still have religious surroundings. Never had a awakening...
  20. devank

    SMART Goals

    This video explains the SMART goal settings in a simple way
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