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    Buying an IP in Self Managed Superanuation fund

    Hi Steve, When we convert our super fund of $500K from the "accummulative" phase to the "pension" phase we have to withdraw a minimum income of 4% of 500K or $20K/year (income from the house + cash). I think with $500K in super fund we only can buy a 1-br serviced apartment for under...
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    Buying an IP in Self Managed Superanuation fund

    Hi All, We have about $500K savings in a bank Superanuation managed fund (CFS). We plan to setup a Self Managed Superanuation fund (SMSF) and transfer this money to it. We will then buy an IP (+ stamp duties & other costs) to the amount of $450K (leaving $50K bucket in cash). Rental income (-...
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    From FHOG to Capital gain tax

    I've found most of the answers to my questions at ATO website. The Capital gains tax property exemption tool is very useful: http://calculators.ato.gov.au/scripts/axos/axos.asp?CONTEXT=&KBS=CGT_AND_REAL_PROPERTY.xr4&go=ok
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    Wealth package with CBA

    Sorry friends for the late reply, CBA verdict : Either to have the 1st year honeymoon rate at 5.99% then 0.5% discount on subsequent years or 0.7% discount from the start. I went for the 1st option but unfortunately the transaction fell through. There are unapproved structures in the...
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    Men are Happier

    Single men should stay single. They are too demanding. I've made the biggest mistake to turn a single man into a married one. :o Huey
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    Should I buy an IP in Pyrmont, Sydney ?

    Many thanks everyone, I sold a 2 br unit in Canberra 2 years ago. The money left over after expenses & capital gain tax is only enough to buy a 1 br unit (my 1st mistake)! Since then I have been keeping the money in a term deposit. The return is not much after tax (my 2nd mistake). My...
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    Tenants paid 4 months in advance !!

    For a a couple in their 50s it's most likely a 10 week oversea trip. :) Huey
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    Should I buy an IP in Pyrmont, Sydney ?

    Wow! You scare me off! I inspected a large 2 br ens appt on the ground floor in Pyrmont last year. I saw a big crack on the outside wall near the front door and 2 small cracks inside the appt. The asking price was $395K, rented for $400/wk. I gave it a miss. Thanks heaps. Regards Huey
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    Should I buy an IP in Pyrmont, Sydney ?

    Thanks everyone for the inputs, I don't think I can get an appt at the World Tower for $400K. I don't know much about Meriton appartments but I bought a Mirvac house in Newington, the Olympic Village 4 years ago. It's beautifully designed & finished. I'm very sad to rent it out. Tenants...
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    Should I buy an IP in Pyrmont, Sydney ?

    Thanks for the info Ani, I will scan thru the areas you mentioned. I used to live in Kensington, Kingsford, Maroubra, around the University of NSW where I studied. They are pretty expensive now. I thought for the same price it's better to get a place closer to the city. Regards Huey
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    Should I buy an IP in Pyrmont, Sydney ?

    Thanks Y-man, I've done some homework & registered with Domain.com.au & some agents but still don't know enough. I need to do more research. I'm 3 1/2 drive from there so only went to 1 open. It's on the groundfloor & it's not very good. Regards Huey
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    Should I buy an IP in Pyrmont, Sydney ?

    Is Pyrmont a good area to invest? As I can see people living there can walk to the city so I assume it's quite easy to get tenants. I don't know much about future capital gain in this area. Has the price been softer in this area and is it possible to get a good 2 br appartment for $400K...
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    No sale no fee?

    Hi Pete, Some agents in Sydney told me that I had to pay for advertising either sale or no sale. Their fees are negotiable. Regards Huey
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    Asset Protection - Registered Mortgage

    Sorry about my bad English. In addion to that I've mixed up words very often in the last few years. The word "assess" used to come up many times everyday in my last job so it's not a surprise to me when it comes up wrongly in my writing. I've been worrying about Alzheimer's disease. :o :(...
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    Asset Protection - Registered Mortgage

    Hi BH, I came across an article few months ago about type of asset protection for your PPOR via an internal debt between you and your family Trust. You need help from an accountant who knows this procedure and your bank officer to set it up. You need to borrow the market value of your...
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    Wealth package with CBA

    Thanks Richard & Lukentel, I'm waiting for their response. Cheers Huey
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    Wealth package with CBA

    Thanks Lukentel, I will go for 5.99% 12 Month Discounted Variable Rate & will try to negotiate a better rate for our existing loan. The problem is that I can't threaten anyone. My total loan will be approx 750K for 2 IPs and the bank is still willing to offer me more & more. It's pretty scary...
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    Wealth package with CBA

    Thanks Rolf
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    Wealth package with CBA

    I'm in the Wealth Package with CBA. It allows me a 0.5% discount off the standard variable rate or 6.25% 1st year guaranteed rate. Does anyone know what I can do to get a 0.7 % discount? Many thanks in advance. Regards Huey
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