Lets look at what you have been offered if it is a permanent rental!
Here is what I was quoted which is essentially 8.5% + GST + a bunch of other fees: – For standard it should be 7.5 + GST
Rent collection commission: 5% + GST – Should not be happening
Management fee: 3.5% + GST – Shoiuld not be happening
Letting commission: 1 weeks…[Read more]
Hello again Bonnie
Finding a reputable Finance Company is no different to finding the best baby sitter or motor mechanic!
They are everywhere, but as you may have seen there are some companies that are always on here.
They are still here after a few years and they do not get too many complaints (written here).
I do not know these companies, but…[Read more]
The standard rate is 7.5% + GST, plus post and petty’s, inspections and one weeks rent for every contract signed.
There is better rates available if you shop around.
I know of a few good companies, where is you IP?
As builders we recently went through this scenario with someone from the army.
That fact is the amount of money you save by getting the 1st home owners grant pales into the background compared to the benefits you receive from the government as a defense personal.
What we did was give back to the client the $6,000 we had allocated for…[Read more]
There is no need to buy reports.
Deal with a finance company and a builder that has done there research.
Set up google alerts on your computer for BIS Shrapnel, they are recognised forecasters for property. They have good and bad reports.
Also have a look at property investment websites, as they have often have news!
Another site that…[Read more]
As Richard stated, they are as sure as god made green apples a marketing company is telling you what is best for you.
Deal with a reputable finance company that knows how to protect you assets and therefore give you the best option to create some more wealth.
The more people you talk to the more confused you will get.
Talk to…[Read more]
Your confusion will only get greater the more people you to talk too.
Find a finance person who knows the industry (some do not) and listen to them.
Once you have the info, do not look around too much for what you believe to be the right property as this will increase the confusion.
If you send me an email I can give you a name of…[Read more]
The only question is, why all of a sudden is it being sold?
Does the owner need money or does the building have a structural problem and the owner is trying to reduce their exposure!
Hello again wblack <moderator: delete advertising>. There are lots of positives and a couple of concerns when buying an IP. The positives always out weigh the concerns, but just get the concerns answered. The biggest concern is 'will I rent the property out'? Yes you will even if it I below what you want, the property is rent-able Regards
I would be looking at a lot of things before buying on a block of units.
Condition of the exterior of the building
Age of the building and how high it is
What can go wrong, e.g. if there is a pool what is the condition of it, what is the condition of the balcony railings etc.
Who is managing the unit
Subject to your income and weekly budget the more you can afford to use of your equity up to 20% of the investment property IP the better your life becomes.
Remember that the bank will offer you the opportunity with a 10% deposit of the IP, but they will also consolidate the loan into one. Meaning if you fail on one you fail on both IP…[Read more]
Yes tax relief is depreciation amongst other things and you can claim it weekly if you set yourself correctly. A tax form call a ITWV is available on the tax website.
Your questions are best answered by a finance person. Another company you can look at is australianpropertyonline for advise. This company is not mine but the owner is very…[Read more]
Talk to a Property savvy investment finance person.
Your thoughts are good ‘insofar’ that you are looking to invest.
Be aware that if you are purchasing a older building the depreciation ‘tax relief’ is limited as opposed to buying new even though you are looking to develop the block.
We are builders and sell a lot of investment property…[Read more]
Cash flow positive property is only going to make your tax more.
If possible always buy new.
EG if you buy new at say 400,000 and you and your partner earn over 140,000 your new taxable income would be approx. 106,000
Qualified investment finance people can give you an exact figure.
I can help with all your answers.
Bluegrass replied to the topic Advice on investment property which has been paid off! in the forum Hello Want to Invest
Use the 8 years, 9 months ago
Hello Want to Invest
Use the equity to do a spruce up on the IP and gain a bit of depreciation on it and go buy a couple of new IP’s.
You are in a good position.
Make a consideration of a display home with a guaranteed rental return for a period of three years and another property in a different location.
We can help with your sums.
Get the right advice from a finance company who know investment finance.
With your income you had better watch you do not increase your threshold by paying into an old fibrosis home ‘which will b e very short on depreciation’.
My suggestion would be a new home that is close to cash neutral and whilst your wife is still in work,…[Read more]
There are a number of criteria to deal with when looking for a good working IP.
As land holders and builders we look for the following:
Schools (Primary and Secondary plus the draft plans for more)
Shops (Local corner store and centres)
Public Transport (Trains and bus routes)
Close to Main Roads ( not close enough to be driven mad with noise…[Read more]
Hi EveryoneWe have been away for a while, but the News is only getting better, Bowen is warming and getting hotter!We have sold five house and land in the last two weeks.The sale price was $408,000 and HTW valued to the dollar as and investmetn property.The developer is a special person who cares about a positive result for his landBluegrass
Did you all know that the capital growth in Bowen 'the town' has enjoyed a 20% growth per year for the past ten years!Email me and I will send the article that has been researched to back up the statement.I only sell stock in great areas and this is one of two I believe in at the email@example.comBluegrass
Hi rekooh01Bowen is the unsung area of North Queensland and on the coast looking at the Whitsunday's!We are selling a lot of product up there at the moment.If you hold interest in more info. please send me you email address and I will forward you our info package.RegardsBluegrass
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