[andlimParticipant@andlimJoin Date: 2009Post Count: 18]

April 9, 2010 - 1:31 am

This will be my second IP (have 1 in Ballarat). We have managed to pay off our PPOR and currently have some funds available for another IP.

I have been looking at the west as it is generally more affordable and the area seems to be growing.

[andlimParticipant@andlimJoin Date: 2009Post Count: 18]

April 8, 2010 - 6:36 am

hmm… thanks for the comments. Would you say the same thing about Werribee or is it a 'safer bet' as it is more established, eventhough it is one of the adjacent suburbs.

[andlimParticipant@andlimJoin Date: 2009Post Count: 18]

March 31, 2010 - 3:26 am

It is a 4Br house, land size is approx 456m2. Asking price is from $340K to $360K

[andlimParticipant@andlimJoin Date: 2009Post Count: 18]

March 31, 2010 - 1:10 am

yes… there is a lot of new houses coming up, howver it looks like there is also decent growth over the last few years as well. There is a planned expansion of the nearby Weribee plaza and Tarneit is due to receive a new train station in 2014.

[andlimParticipant@andlimJoin Date: 2009Post Count: 18]

March 11, 2010 - 11:19 pm

Hi,

Just wondering how you would define a rooming house… if you have a house that has 7 rooms, and you get the 7  tenants to all sign the lease agreement would that be considered as a rooming house ?

[andlimParticipant@andlimJoin Date: 2009Post Count: 18]

February 18, 2010 - 12:10 am

Thanks again Mike for the report!

[andlimParticipant@andlimJoin Date: 2009Post Count: 18]

February 17, 2010 - 11:22 pm

thanks

[andlimParticipant@andlimJoin Date: 2009Post Count: 18]

February 17, 2010 - 2:57 am

Hi Andy,

Thanks for the post… I'm more comfortable if I am advised / consulted on any repair work before they are actually carried out by the agent.

[andlimParticipant@andlimJoin Date: 2009Post Count: 18]

February 8, 2010 - 2:20 am

Hi Mike,

Thanks for the report !

Cheers,
Andrew

[andlimParticipant@andlimJoin Date: 2009Post Count: 18]

January 22, 2010 - 3:20 am

thanks for clarifying

[andlimParticipant@andlimJoin Date: 2009Post Count: 18]

January 21, 2010 - 10:25 pm

Hi Terryw,

I also currently have another property that is solely under my name… does this mean that it will also be part of the trust ? (as there does not seem to be any distinction between between purchasing under my own name or under the trust)

Eg Current place of residence is purchased under Richard Smith 
      Investment property purchased under the family trust is also purchased under Richard Smith. How do we then   differentiate which property is purchased under the trust and which is not ?

Just seems to be a bit confusing to me. 

Also, if I am correct a trustee can be removed by the appointer / guardian of the trust…. what happens if for some reason down the road the trustee is 'fired' and all the properties are still purchased uder their name ?

Thanks

[andlimParticipant@andlimJoin Date: 2009Post Count: 18]

January 21, 2010 - 1:56 am

Thanks for the advise Jason.

[andlimParticipant@andlimJoin Date: 2009Post Count: 18]

January 21, 2010 - 12:10 am

Thanks for the reply…. thats what i thought it should be.

I 'assumed' that the name on the title would be ("my name", as trustee for "trust name"). However my conveyancer says that it is ok just to put my name down on the land title… with no reference to the trust at all.

If this is the case, and assuming that in future I want to buy another property under my name only, how does the tax office know which is under the trust and which is under my name ? 

There are also multiple beneficieries of the trust, of which I am one of them.

Does anyone else have any experience in this?

[andlimParticipant@andlimJoin Date: 2009Post Count: 18]

January 20, 2010 - 12:12 am

Thank you very much (again)  Mike ! We now know roughly how much our IP is worth.

[andlimParticipant@andlimJoin Date: 2009Post Count: 18]

December 20, 2009 - 11:58 am

Hi Mike,

Thank you very much for the report !

Regards,
Andrew