Total Members: 158,076

Ash

  • Ash started the topic VIC Stamp Duty reduction/concessions in the forum Help Needed! 6 years, 11 months ago

    Hi everyone,

    I have a couple of questions regarding whether I would be entitled to any stamp duty reductions for the purchase of my next property.

    My situation: currently own 1 property in Vic which has been an IP since day 1 so no stamp duty concessions were received. I still live with the folks in the family home.

    I’m looking at hopefully…[Read more]

  • Ash replied to the topic Cost of a new small kitchen in the forum Value Adding 8 years, 3 months ago

    Corey are you able to please clarify how much of the kitchen you did yourself? Was $2.5k the cost of the cabinets etc and you installed it yourself or were there professional installation costs on top of this? I might be looking at doing a kitchen reno myself in the near future so curious to know approximate numbers

  • Ash replied to the topic Werribee or St albans? in the forum Help Needed! 8 years, 4 months ago

    Out of curiosity, what makes you suggest Braybrook?

  • Ash replied to the topic How do people buy multiple properties in the forum Help Needed! 8 years, 4 months ago

    Makes sense. Thanks for explaining that guys!

    Richard Taylor – do you deal in Melbourne too or only Queensland?

  • Ash replied to the topic How do people buy multiple properties in the forum Help Needed! 8 years, 4 months ago

    $90k in 3 years isn’t bad at all! If you don’t mind me asking, how is your current property performing in terms of growth?
    That’s exactly what I’ve been finding recently too. Especially in Melbourne recently there has been very good capital growth but rents have not kept up and as a result yields have decreased.

    Going to one of Steve’s events…[Read more]

  • Ash replied to the topic How do people buy multiple properties in the forum Help Needed! 8 years, 4 months ago

    Is it possible to find properties which match this criteria in Metro areas or just regional? I have been looking at Metro areas and yields seem to be much lower than that. Or am I just looking at the wrong areas? haha

  • Ash replied to the topic How do people buy multiple properties in the forum Help Needed! 8 years, 4 months ago

    Is it possible to find properties which match this criteria in Metro areas or just regional? I have been looking at Metro areas and yields seem to be much lower than that. Or am I just looking at the wrong areas? haha

  • Ash replied to the topic How do people buy multiple properties in the forum Help Needed! 8 years, 4 months ago

    Very interesting thread as I am new to the whole concept of drawing down a line of credit (equity loan as described above). Just to clarify in the above example am I right in saying that the OP will effectively take out a loan of $350k for the second property ($200k + $150k equity he already has)?
    So he is ultimately obtaining 100% finance for…[Read more]

  • Ash replied to the topic capital gains on PPOR turned rental in the forum Help Needed! 8 years, 7 months ago

    Given the property was your PPoR it should be exempt from CGT under the 6 year exemption rule

  • Ash replied to the topic How to select find and select positive cashflow area/suburb? in the forum Help Needed! 8 years, 7 months ago

    You may want to look into “OnProperty.com.au”. There are various podcasts and other resources on positive cashflow property

  • Ash replied to the topic Young potential property investor in the forum Help Needed! 8 years, 7 months ago

    Hi Mark, do you know how the $90 per week is being calculated? If it is simply taking average rental income less interest expense (at 80% lvr and current market interest rates) the property could very well end up actually being negatively geared.

    If it is not being accounted for above you may need to consider other holding costs such as…[Read more]

  • Ash replied to the topic Capital gains/general investing strategy questions in the forum Help Needed! 8 years, 7 months ago

    Wouldn’t the 6 year exemption rule apply if it was initially my PPoR though? Or am I missing something

  • Ash replied to the topic Capital gains/general investing strategy questions in the forum Help Needed! 8 years, 7 months ago

    I have a couple more questions relating to CGT which might be easier to explain with an example.

    If I bought a house for $400k, spent the first 2 months renovating it (while the house is vacant) which cost me $20k and then immediately got it revalued for say $460k, then got tenants in and then sold it 2 years later for say $500k, what would be my…[Read more]

  • Ash replied to the topic Capital gains/general investing strategy questions in the forum Help Needed! 8 years, 8 months ago

    Thanks for your input guys.

    Terry: are you suggesting that if I employed strategy #1 the proceeds may be classified as assessable income even though the property may be CGT exempt?

  • Ash replied to the topic Capital gains/general investing strategy questions in the forum Help Needed! 8 years, 9 months ago

    Terry – that is what I was asking. In the case of being audited, how do people generally prove they lived there in that time? Would being able to reproduce bills showing electricity/gas/water being used along with having mail redirected to that property be considered sufficient evidence or do the ATO require some sort of other evidence?

    JacM -…[Read more]

  • Ash replied to the topic Capital gains/general investing strategy questions in the forum Help Needed! 8 years, 9 months ago

    JacM – thanks for the reply. While I had considered some of those entry/holding/exit costs, I hadn’t considered other such as mortgage early exit fees and some legal fees. I might need to do a bit more research into how much these are likely to cost while analysing potential properties. Would you happen to know roughly how much these costs are as…[Read more]

  • Ash started the topic Capital gains/general investing strategy questions in the forum Help Needed! 8 years, 9 months ago

    Hi everyone. This is my first time posting on the forum!

    I am currently looking at purchasing my first IP in Victoria and had a few questions. I am 24 years old, have saved enough for a deposit and currently live at home with my parents.

    I will be investing for capital growth, in particular looking to add value through renovations. I am looking…[Read more]

  • Ash became a registered member 9 years ago

Ash

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