Good one, Matt !!

Benny

Hi Blackhotel,

I purchased 3 x houses in 2008, 2009 & 2010 on the Gold Coast (Ashmore). Yes great rental return but absolute crapppppppppp growth.

The timing of your purchases was unfortunate – I would have thought this was just a year after the peak of the market in SEQ. Since 2008, Brisbane has pretty much stood still. I suspect the GC…[Read more]

Hi Steven,

The important lesson I was hoping to reinforce — via my own experience — is that it is better to buy something that is already established and second hand, and do some minor cosmetic makeover, rather than buying something that is brand new.

You said it – and I can think of a number of ways this is true. Can you add to my lis…[Read more]

Nice work Steven – congratulations !! And yes, having a bit of extra income helps when early into paying a mortgage. A bit of extra Equity from day one is always good to have.

Well done,
Benny

Hi Steven,
The difference is that the place is newly-developed, in an area of (likely) low-cost new houses. It is likely to an “outer fringes” property and surrounded by similar new houses. Since it is a larger block, it could be that they got the land really cheap (what was its past history??? not an ex dump I hope) and the developers are…[Read more]

Hi Dave,
I can’t help with the Super thing at all – just a passing thought re the opportunity though:-

As I read it, you have already gained $125k from the Sale, and were allowing a further $125k to be set aside to pay CGT. Given that it is likely that the CGT owing could be far less than allowed, would a cash amount nearer $180k (rather…[Read more]

A lot like the Internet itself, there will be some interest right upfront of course. Then, over time, as the concept becomes “less new” and there are more examples of “it really works”, you will see more take up the new ways. It took the Internet at least 10 years to gain acceptance by the masses.

It will be many years yet before it becomes…[Read more]

Hi Dave,
I’m with Corey on this – I think you need assistance with calculating your tax bill. From the little I can see, it seems to me that you think your Capital Gain is the Tax to be paid. That is not the case, and you don’t appear to have allowed Buy and Sell costs either which would have impacted on your Gain.

As such, I think you…[Read more]

Hi Russell,

Does either neighbour have a block large enough that you might buy 200mm of land from it? There might be cost involved e.g. fencing, but if it allows a second build, and one neighbour can help for a decent price, it might be worth it(??)

Benny

Hi Debbie,
In case you weren’t aware, propertyinvesting.com itself works with a finance group to get really good deals. I don’t know what they are right now, as the recent APRA changes may have changed things. Suffice to say that Steve mentions he can source a great rate based on the size of the membership of pi.com.

Go here to check it…[Read more]

Hi Asou,
I just checked, and I found that you and I had chatted previously – soon after you joined us – here:-

https://www.propertyinvesting.com/topic/5006256-doing-a-12-investment-property-on-my-first-home/#post-5006261

In that post is the link I was going to provide you, thinking you were new here. You might have read it back then, but…[Read more]

Hi Asou,
I just checked, and I found that you and I had chatted previously – soon after you joined us – here:-

https://www.propertyinvesting.com/topic/5006256-doing-a-12-investment-property-on-my-first-home/#post-5006261

In that post is the link I was going to provide you, thinking you were new here. You might have read it back then, but…[Read more]

Hi Asou,
Welcome to propertyinvesting.com – and good work for seeking to understand a bit more by ASKING. One major thing that we need to develop is the ability to separate opinion from fact. And, right off the bat, I can put the lie to these guys:-

However, after seeking advise from my friends and colleagues. They suggested I should not…

[Read more]

Hi Asou,
Welcome to propertyinvesting.com – and good work for seeking to understand a bit more by ASKING. One major thing that we need to develop is the ability to separate opinion from fact. And, right off the bat, I can put the lie to these guys:-

However, after seeking advise from my friends and colleagues. They suggested I should not…

[Read more]

Hi Asou,
Welcome to propertyinvesting.com – and good work for seeking to understand a bit more by ASKING. One major thing that we need to develop is the ability to separate opinion from fact. And, right off the bat, I can put the lie to these guys:-

However, after seeking advise from my friends and colleagues. They suggested I should not…

[Read more]

Hi Retals,
Terryw, a contributor with a wealth of knowledge, has laid out a scenario that exactly fits your situation (i.e. you have paid off your PPOR, but now want to move out of it and rent it). Go here to find an introduction to his topic…[Read more]

Hi David,
Well, you never know – someone reading this might be willing to pay to know where this cashflow gem is, and you may be able to gain a spotter’s fee !! :)

Benny

Hi David,
Just looking at the numbers, to me this looks like the ideal “buy and hold”. As such, there would be little to gain in strata titling. I haven’t done it myself, but had previously read it can take ~$20k to strata one unit.

Is that number correct? I don’t know – but, if it is, the values on your units don’t seem to justify such…[Read more]

Hi Stevan,

Before purchasing secondhand, please read this (including the attached link).
https://www.propertyinvesting.com/topic/5040648-for-your-protection-read-this/

Benny

Hi Lisa,
Thank you for the information relating to Cherie’s course. It is as well that purchasers are made aware of the limitations of purchasing such goods secondhand.

I have referred to your post in a new topic that will reside in the Buy Swap and Sell forum -…[Read more]