had a call from my builder – despite the blocks being titled and settled it seems there is no power supply up there yet. the expense of hiring a generator during construction will be about $3k. anyone else stumbled upon this one yet?

and what is the deal with this marmion ave… is it being worked on or is it just pencilled in? not another…[Read more]

the stupid thing is.. no gas supply up there. alinta apparantly wont lay the pipes because there is no exisiting demand. so how abouts… we all build 30,000 homes and install fully electric appliances, THEN lay some gas pipes – that’s make sense!!

“as close to its last rates notice price as possible”

to what end is this? in WA rates are all adjusted at settlement anyway.

had a flick thru that pay off your mortgage in 5 years book a couple of days ago… there is some odd stuff in there i must say.

ha ha – reminds me of grade 7 when we had a class banking system and use to be able to buy auctioned items that people brought in. me and a couple of other guys somehow secured ourselves as the bankers and it was on for young and old… counterfeiting, theft from the safe, passbook fraud, you name it. the teacher must have had suspicions about how…[Read more]

“If you sell and clear $70,000, you’d get a guaranteed 7.5% pa compounding return on that money by paying down your mortgage”

it’s not quite that high – it’s only the real interest rate i.e. the amount above the base rate, as the deflation of the other mortgage is a real benefit, not to mention the deflation of the PPOR mortgage. this is probably…[Read more]

“Many people followed this kind of logic during 2002 and 2003 in Sydney and Melbourne. Many of those people have had, or are facing a “personal financial disaster”.”

Well that was then and we are in the now. My advice may have been different to a sydneysider in 2003, however with the market at or near bottomed and rents arguably on the up, I cant…[Read more]

Daniel Lee – I would be wary of taking up camp with a bunch of property bears. people have talked property up AND down for years and I can’t think of a time that it hasn’t been substanitally cheaper to rent than to buy AT THAT POINT IN TIME. if I had rented for the past 25 years it would have been a personal financial disaster. if you really…[Read more]

when you put your money into ‘super’ do you think that means putting money into shares? to sell a Perth property prior to the stamp duty cuts when it is generally accepted that the market will come back to life and into a choppy and possibly topped out stock market could produce very disappointing results.

please no… not more magical ways to make millions in property thru options, no money down, secrets of the rich, blah blah blah

forget fleetwood – their order book is shut, I have been on the order wait list for 8 months and don’t expect a phone call for a year or so. possibly years I suspect.

I was involved with a business that was focussed on helping people with bad debts get out of that situation thru sensible means and turn their life around by investing. The biggest problem was finding suitable candidates! we were shocked to find that people in financial trouble were not nearly as abundant as you would expect. in fact most people…[Read more]

Originally posted by Chief Wigam:
LIke Giddo, the original poster, I have a block of 680 sq.m and have a builder quoting me $10000 per square to build 3 townhouses of 18 squares each. The numbers I have tell me to pass over this deal. Is it the builder’s quote that is breaking this deal? Can anyone assist here? I see others building similar…[Read more]

there are a couple of other options, the biggest being live in, which is what i suspect most buyers intend to do after talking to the other buyers at the land sale. the other is beach house, the other could be a furnished let.

but yes the rental returns wil be interesting to see…

I wonder if it would help to have an entity (family trust, co, husband or wife or something) lodge a caveat over the property? one more hurdle for the fraudsters to overcome.

one of the experts tipped it as the next big thing, which makes sense with the marmion ave and freeway extensions and the sheer size of the develooment and on going demand for housing. the block price still sounds pretty cheap to me and the area has a big future. not to mention one of the nicest beaches in Perth. nothing is garuanteed but I think…[Read more]

od course with the recent revelation that the CGT compliance section of the ATO is in disarray you may wonder whether you want to bother decalring it at all!!! [blink]

like with all tax things its up to you how far you push it. I agree for a one off I would let it slide, however the GST guidelines are quite specific in saying a one off property transaction is caught under the system.

I think the news is worse, however you should speak to a tax accountant. It could be that you are entering into an enterprise and should register for GST. 1/11th of the profit (approx) will be payable as GST. the balance would then go in your tax return as normal income… CGT would not apply as that only applies to the realisation of a passive asset

do you really want to invest in an area that you have no idea about? intimate knowledge of a market allows you to buy well and make a profit regardless of what the newspapers say the median has done or will do

“an agent told me exactly the opposite story: they can save me some money if i buy using an agent”

they are either lying or misrepresenting the developer… remember that an agent works for the seller, not the buyer. They are obligated to seek the highest possible price for the property and have no interest in saving you money.

similarly, a…[Read more]