Hi Jas.The answer to that question depends on the structure of the family trust and whether the properties in the family trust were purchased under your name. If your name is not on any of the Title's of the properties owned in the family tust then I would suggest you would still be entitled to the First Home Owners Grant as it can be argued that…[Read more]

PS: The figures stack up nicely and you know the Investment Property modicum: "It is always best to own the worst house in the best street".I hope this has been of benefit to you.Kind regards,

G'day OB 1It sounds like you are wanting to do an 'Option to Buy' agreement young paddo-wun!Option Agreements are great when drafted correctly, for both the Vendor and Purchaser, however, the biggest hurdle one usually faces with Option Agreements is finding a Vendor who not only undersatnds how they work but, more importantly, wants to utilise…[Read more]

Hi PropertyBee.Looks like I misunderstood!You have placed a 'Letter of Offer' to the Vendor via the Real Estate Agent. If that is the case then THERE IS NO CONTRACT. What you have done is simply put a letter of offer to the Vendor without it being contractually binding on you or the vendor. Once the vendor accepts your "Letter of Offer' THEN a…[Read more]

Hi Propertybee.Contract Law 1.01 "a contract is not binding until consideration has taken place." What is consideration? It is defined at law when money (SUCH AS A DEPOSIT) is paid to the Vendor (seller) in consideartion of the purchasers offer. A contract will NEVER be binding on you the purchaser until, at the very least, you have paid a deposit…[Read more]

Hi Kris.Be VERY CAREFUL with asbestos. It is not considered dangerous as long as it is intact however, should the outside cladding be damaged in anyway leading t the possible release of asbestos particals then you as the owner are up for some significant liabilty issues and expenditure.To safely remove asbestos it is a mansatory requirement to…[Read more]

Hi Propertybee'Cooling off' is a legal right all purchasers have in Australia to retract a contractual offer to purchase real estate without the penalty of losing our deposit. The 'cooling off' period allowed does vary from state to state (QLD 5 clear business days, Vic 3 business days, SA 2 business days, and so on). What you have to understand…[Read more]

G'day Dan and welcome to our Forum. I am sure the community will appreciate your continued input.

Quick addition to last post.Have you considered Adelaide's southern suburbs?The SA Govt is now widening the Southern Expressway (making it 2 way), the train line is now being extended all the way to Seaford and there are huge levels of expenditure on infrastructure down south. Port Noarlunga is presently the single fastest growing area in Adelaide…[Read more]

Hi AMitchell.Adelaide's complexity and demographics are changing fast. We have just recently had our $700 Million Northen Expressway, that takes you from slightly north of Gepps Cross (off Pt Wakefield Rd) out to the Barossa. People no longer need to travel up Main North Rd to get to areas like Gawler, Willaston and beyond. There are also 'fringe'…[Read more]

G'day Bythebay.You have the trifecta with affordabilty, location and great tenants – don't let go of that one in Corio! I used to live in Hoppers Crossing and Werribee and 30 years ago Werribee was a Shire and my collegues thought I lived in the boondocks! I bought my first block of land in Hoppers for $4000 in 1979 and my first H&L for $34,000 in…[Read more]

Ok Stringray, I read about your Housing Price Crash on the link and I was suitably unimpressed how lacking the article was in fundamental economics – something I have a undergraduate degree in. I have read, heard and been dictated to this kind of dribble through the 80's when I had an 18.4% mortgage. I heard it from these armchair experts in the…[Read more]

Well said Jamie and it's great advice!Kind regards,

Hi Sofia.Why do you want to manage all these properties?Are you and your family aware of the relevant licenses which may be applicable in your state?Do understand how the Residential Tenancies Tribunal in your state functions?How often can you do inspections?How far behind in rent can the tenant be before you can commence recovery and…[Read more]

G'day Gordie.There are potentially huge opportunities for the Australian Investor into the US property market but, as we in the legal profession say, "caveat emptor" or "buyer beware". If you read my few points above you will see some of the key advantages in the US but it is also frought with danger. If you are interested in learning more I have…[Read more]

Hi again Steve.The best advice I can give you, based on what you have said in this forum, is to not talk to your Accountant about your investment aspirations. Accountants are mostly glorified number crunchers and most are not qualified to give comprehensive levels of investment advice and maintain a fiduciary duty of care to the clients. Case in…[Read more]

Hi Judi.Let us not forget the reality of what has transpired in the US economy – the single greatest balloon burst since the Great Depression. The US economy is going to do what it has always done after every great economic depression and recession it has had- they will drag the economy from bear to bull again and the value of their real estate,…[Read more]

G'day Steve.Have you explored NOT selling your current PPOR and doing the figures on borrowing against your equity, holding on to your PPOR and get continued capital growth, then when you turn it into your IP you can start writing off your costs against your tax through variation and depreciation? Unfortunately, my experience is too many people…[Read more]