Here is a very unique property I'm selling in QUAKERS HILL

Well done BV.
I thought all the buyers were on some sort of buyers strike where it would be easy to negotiate some 10-20% discount as the sky fell down and prices were crushed because of the huge over supply of properties and sellers who were on the ropes.

Your tale of more than 1 potential buyer surely doesn't fit in with the doom and gloom brigade predictions - must be just an anomaly and the graphs might need some tweaking :)
back to the books boys!
 
Well done BV.
I thought all the buyers were on some sort of buyers strike where it would be easy to negotiate some 10-20% discount as the sky fell down and prices were crushed because of the huge over supply of properties and sellers who were on the ropes.

Your tale of more than 1 potential buyer surely doesn't fit in with the doom and gloom brigade predictions - must be just an anomaly and the graphs might need some tweaking :)
back to the books boys!

Pieman

As you can see buyers are not on strike, not here anyway and as long as interest rates stay at current levels good and affordable properties will still sell quickly and especially in Sydney where rents are so high.
 
Cheers mate, now back on the hunt for more IP's :)


Hi Bill,


Not quite sure of your overall strategy here.


You say you weren't going to sell, but then did, and now you are back on the hunt....??


With sales comms and CGT to sell, then stamp duty and other closing costs to buy back in, what's the story ???


What do you intend to do with the nett funds - if any, from the sale ??
 
Hi Bill,

Not quite sure of your overall strategy here.

Hi Dazz

Basically I'm reducing non deductible debt and diversifying at the same time.
I'd like to think of it as a strategic move which will allow me to increase my portfolio size.

Yes I'll have all those costs you've mentioned but I have some old losses offsetting the CGT. The first property I sold will be almost CGT free anyway.

My other plan is to do a small development in my super fund which will increase my SMSF's cash flow and will help pay off the SMSF mortgage faster.
 
I also want to build a house on the back of my super fund property which will accelerate the repayment of my super fund loan.

Hi Bill

Remember if the super fund property is mortgaged you cannot fund the build on it using either the super funds own cash or funds obtained from any other source until the mortgage is discharged.

The ATO has recently stipulated this very clearly in its comments regarding limited recourse borrowings.

Cheers
 
Hi Bill

Remember if the super fund property is mortgaged you cannot fund the build on it using either the super funds own cash or funds obtained from any other source until the mortgage is discharged.

The ATO has recently stipulated this very clearly in its comments regarding limited recourse borrowings.

Cheers

Hi Mike
Ouch, this changes things for me.
Do you have a reference to the ATO document?
 
Bill

I don't think that the ATO have spelt it out in black and white as yet so that there is no confussion however if you read the following from Kris Kato (hello Kris great article) you will understand where the ATO is coming from and how they seem to see things.

http://www.evolvemysuper.com.au/str...purchased-under-a-smsf-limited-recourse-loan/

There are also other links at the bottom of Kris's article from other SMSF advisors (Arron Dunn & Grant Abbott) who also suggest the same thoughts.

Additionally you can also find a table at the following link summarising some of the other issues as well.

http://www.thesmsfreview.com.au/blog/summary-ato-thinking-smsf-borrowing-issues/


Hope this helps.
 
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