Hi Laura,
I know years back (and probably still today) I recall Steve saying something like “What are you prepared to give up to reach your goals?” He was pointing out we all have 24 hours a day, and these hours are apportioned according to how we choose. It may be that your time is “full” which means you will need to give some thought re…[Read more]

Hi Jsoe,
If it is important to be in your sister’s name, then the CGT and Stamps will be the cost to do it. Keep a couple of things in mind re CGT:-

1. Have you owned it longer than 12 months, or not? (A 50% discount on the CG calculation if held longer than 12 months).

2. Consider whether to sell in this FY or next (and Sale is deemed to…[Read more]

Hi Kenif,
That sounds to me like a Body Corp thing. But do note that I have never owned a unit, so my thoughts are not from personal experience. Hopefully someone with experience might step up to correct me, or to add some value for you. Good luck with this – is the courtyard ground surface higher than the level of your floors? It sounds…[Read more]

Hi Valluvan,
I noticed no-one had “got up to dance” on this one, so I wanted to share a couple of thoughts with you.

First, I would think deciding what type of property you are planning to buy, and what financial limits you have should be sorted before choosing an area or a BA. Have you got these all mapped? Of course, the finances can…[Read more]

Hi Mick,
I think the basis of what you are seeking sounds quite sensible. One part I would question is whether your situation calls for a Growth property vs an Income property. It is fine to purchase for Growth, but often these don’t return enough $$ to cover costs, thus you are contributing from your own pocket to hold it. If your situation…[Read more]

Hi Dave,
You have just confirmed it, so what a good place you are in. It is smart to look elsewhere too (to test the water?) but there are ways of doing that without upsetting what appears to be a very solid situation. Here are a few more thoughts, just because…. ;)

Yes currently 60k after costs which I realise is a good position. And no…

[Read more]

Hi Dave,
If I am reading this right, aren’t you receiving $60k pa over and above costs? Or are there more costs after the mortgage? Rates? Insurance? Maintenance? Anyway, from what I think I am seeing, you have a 25 year income that exceeds your working wage. But, since you like your work, you will probably stick with it anyway.

To me,…[Read more]

Hi sbav,
I imagine books (and maybe even DVD’s or CD’s) might be OK, depending on the original supplier. Some companies might be OK for these to be onsold – some may not. Maybe contact Cherie Barber to see if her DVD’s may be onsold.

Really, it is all about “caveat emptor” in the end. And whatever the Latin is for “Seller beware” too.…[Read more]

Hi sbav,
I imagine books (and maybe even DVD’s or CD’s) might be OK, depending on the original supplier. Some companies might be OK for these to be onsold – some may not. Maybe contact Cherie Barber to see if her DVD’s may be onsold.

Really, it is all about “caveat emptor” in the end. And whatever the Latin is for “Seller beware” too.…[Read more]

Please check this out – FYI

https://www.propertyinvesting.com/topic/5040648-for-your-protection-read-this/

Benny

Hi Shehan,
I had held off responding, as I have absolutely no knowledge of Melton, nor Melton South. From your short description, it does appear to be a new development area. Even today, you are saying there is a lot of new development going on. Now, that could be good, or bad – for these reasons:-

If it already has some history (years of…[Read more]

Hi Belvede,
Just so you know, please do read this link:-
https://www.propertyinvesting.com/topic/5040648-for-your-protection-read-this/

As you will see, that is a course that has restrictions on its sale.

Anyone thinking of buying this item, also see that link and the warnings therein.

Benny

Hi Hilly,

Just adding in a little curve ball. If property management fees weren’t tax deductible would you still be giving above 5? Or is this tax deduction a big part of why property management is a way to go?

Just like in my previous answer (where I differentiate between 7 and 8) – one aspect is purely monetary, while the other ranks the “…[Read more]

Hi Hilly,
Good on you for having a go at quantifying something that is perhaps a bit intangible. I couldn’t easily answer you poll questions, so thought I’d throw a few ideas into the mix so you can ponder.

My results over time would have ranged between 4 and 10 on your poll. Had I bought anything out-of-state, I perhaps might have needed…[Read more]

Hi Cava,
If your income is regular, you may well have possibilities. In a nutshell, a $30k income might have some excess income left to fund a mortgage, especially if your needs are modest, and especially if these are to be for investment, where a rental income will pay for all of the mortgage cost and then some. How much you might be able to…[Read more]

Hi Klaus,
Wow, that sounds quite unfair and should be remedied. It seems like there has been some serious mis-communication happening. Now, I don’t have experience in this subject, but, since you are in Queensland, I would think your next port-of-call should be the RTA (Residential Tenancies Authority) to get advice and perhaps even some help…[Read more]

Hi Klaus,
Wow, that sounds quite unfair and should be remedied. It seems like there has been some serious mis-communication happening. Now, I don’t have experience in this subject, but, since you are in Queensland, I would think your next port-of-call should be the RTA (Residential Tenancies Authority) to get advice and perhaps even some help…[Read more]

Hi Jay,
I had a few more thoughts :-

The owners stuck to cosmetic reno’s modernized it, and it just sold for $580,000. This is a dramatic increase from 12 months – 2 years ago. This should give an idea of the potential for value adding in a cosmetic reno with my place due to it’s current value.

Check on the median values in the area – they…[Read more]

Hi Jay,
Seems you got a lot out of my thoughts – I’m happy, as that was what I intended.

You asked:-

Also, just wondering why you calculate the return off the total value. Wouldn’t you calculate the return off money owing aka your investment? So 480pw = $24,960, @ $380k investment = 6.5% gross return. No?

There are several ways of c…[Read more]

Hi Kristyn,
This is one demographic that is of very high importance – Steve outlines it well here:-
https://www.propertyinvesting.com/watch-out-for-this-simple-stat/

In essence, always buy in an area where Owners outnumber Landlords markedly. Because Homeowners don’t relish losing their house, they will hang on by their fingertips no matter…[Read more]