Whoa !! That is one helluva move on the part of the Govt. And I wonder if this outcome was planned for, or simply an “unintended consequence”?

It is easy to see in hindsight what might happen, when you are looking. Or do Govts over there farm their decisions out to “advisers” like we seem to do here? Then, when things go wrong, they can…[Read more]

Hi Thomas,
and a big welcome to you. Your question has me scratching my head, but lets ask a few questions of you, and see where that leads…..

First off, I guess I need to ask “How did you hear this? e.g. Did an Estate Agent say this? And what were their exact words?”
See, I have never heard of a house being Subject To Council Approval.…[Read more]

Hi Sundipb,

As I am not an adviser, the best I can do is to slap on my “reasonable man” hat to see if some thoughts might be valid (they WILL need to be checked with those that really know, but hey, if what I say is Reasonable, maybe the ATO might see things the same way?)

You have owned the property for 9 years, and will be needing to…[Read more]

Hi Zen,

I guess having a business in buying real estate these costs maybe deductible.

Yes, OR if you already owned property in New Zealand or interstate, then necessary trips CAN be deductible too. i.e. You ARE already receiving income from there, and a trip needs to be made to ensure the income continues (e.g. inspections re maintenance…[Read more]

Hi Zen,

I guess having a business in buying real estate these costs maybe deductible.

Yes, OR if you already owned property in New Zealand or interstate, then necessary trips CAN be deductible too. i.e. You ARE already receiving income from there, and a trip needs to be made to ensure the income continues (e.g. inspections re maintenance…[Read more]

Hi Zen,

I guess having a business in buying real estate these costs maybe deductible.

Yes, OR if you already owned property in New Zealand or interstate, then necessary trips CAN be deductible too. i.e. You ARE already receiving income from there, and a trip needs to be made to ensure the income continues (e.g. inspections re maintenance…[Read more]

Hi Peter,

So just going to paint it when it settles bit of touch ups.Agent said if i left it the way it is ill get renters in straight away!

With a bit of water under the bridge, how did it all go? Interested folk would love to hear from you…. ;)

Benny

Hi Bjoern,

Though you may be correct with the “numbers” (i.e. if you save interest via the Offset it has you paying a bit more Tax as you have less Interest expense), to me the MAJOR advantage of an Offset Account is the flexibility it provides you!!

It allows you to keep the original Mortgage untouched while “paying it down” via the Offset…[Read more]

Hi Busybee,

I was offered in new ‘Waterford County Estate’a new Duplex Property just under $700K.

Wow !! Must be paved with gold !! Or I am mis-understanding something…..

Before I go too far, let me clarify something – you see, I took your comment above as meaning that you are buying ONE of the two Duplex properties. If, in fact, $70…[Read more]

Here’s a time capsule from Scamp (from his first post in May 2008)
“Don’t invest into property : The australian market is CRASHING !!
Can’t you see that 9 times annual wages per house is not sustainable and that the bubble is already bursting?
It’s more than evident that the market is 50% overvalued. Take this from a seasoned property i…

[Read more]

5% to 8% commission from builder/developer per property;

200% to 300% of what a Real Estate Agent gets for selling a property? Sheesh !! Nice work if you can get it (and can find someone else who wants to pay for the excesses!!) A spruiker for sure.

Benny

Hi Colin,

I have had clients tell me that bank staff have told them that redraw and offset are the same thing.

That is a HUGE danger then….. How do we reach the masses to warn of things like this?

I have dealt with many Bank people over the years – the major problem is that the good ones are moved out and upward, and “juniors” are shifted…[Read more]

Since this scenario is a common one, I wanted to “bump” this subject back into view.

Many banks talk to people of Redraw, and “Yes, no problems, you can just borrow the money back again if you need it!” In our ignorance, if we don’t check with others who KNOW, (like Richard, PLC, Terryw, or Catalyst above), then we really can create a rod for…[Read more]

Hi Scott,

Keen to understand if this is a realistic option to consider for positive geared options.

This totally depends on WHAT and WHERE the holiday rental property is. e.g. if Gold Coast, then holiday times can command a good rate BUT it can languish through the rest of the year, unless you have the time or ability to manage an airbnb style…[Read more]

A further hint for your mate, DM – if the spiel is about buying a new property (OTP or newly built) then there are FAR better ways to make it in property investing than that.

And, if they are willing to fly him “for free” to somewhere else to buy, then warn him to RUN A MILE as quick as he can, ;)

Benny

A further hint for your mate, DM – if the spiel is about buying a new property (OTP or in a new estate) then there are FAR better ways to make it in property investing than that.

And, if they are willing to fly him “for free” to somewhere else to buy, then warn him to RUN A MILE as quick as he can, ;)

Benny

Thanks Terryw,
I Googled the authors’ names and up came the book on Ebay. Looks just like I remember it. And thanks too, for the warning about LOC’s.

http://www.ebay.com.au/itm/H-GILL-S-THERRY-HOW-TO-OWN-YOUR-HOME-YEARS-SOONER-/371417618753

Even today I think it is worth the few bucks one might pay to get it. I am sure they had many…[Read more]