Jump to content
House Price Crash Forum
Sign in to follow this  
GCS15

Markp

Recommended Posts

One born every minute Just didn't think they hooked up ;)

Just recently my wife was on a buying trip to the Gold Coast.

I called her two days later for an update. She told me "I'm the only one walking in and you can get anything you want". To my amazement she was talking about the local Land Agents Offices and not the Ladies Shoe Store or Fashion Shops.

What an excellent assessment of the Gold Coast property market, no competition and everything is for sale.

What I love about woman is their non statistical and common sense approach to property investment.

Cheers Ladies

FFS - The Gold Coast is notorious for ripping out of towners off. :angry: Well known for it's two tier pricing - one for locals and another for well suckers :rolleyes:

Buy it up Markp - you wouldn't be the first to be ripped off and I dare say you wont be the last - Clown :rolleyes:

Share this post


Link to post
Share on other sites

Malcom needs a good talking to :angry: On Social Security with 5 kids yet borrows $475k

I don’t pay any income tax. I am married with 5 children all of school age and receive about $30,000 total per year as a family from Centrelink. I own one block outright and have nearly completed building my first home on this block. (Currently we live in rented accommodation). I am paying cash for this construction. In addition, I have borrowed $475,000 on the security of this first home to purchase a block and build another home nearby. Construction on this second home is due to start anytime. I have a low doc interest only loan and have set aside sufficient funds to pay the interest during the construction period.

My plan was then to sell the first home when the second was completed and move in. I had a thought to build one new home every 12 months and keep moving. I filed a tax return each year for the past 3 years but did not have to pay any tax (all my funds are in unrestricted non-preserved superannuation) I am not sure what the best planning is. All the books I read either about positive or negative gearing base tax allowances as part of their calculations. I am 59 years old. My wife does not work. I have no income other than Centrelink. I work as a volunteer.

Any suggestions?

Thanks

Malcolm

Perth

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 338 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.