Forum Replies Created
Elisey
That can happen.
Consider a new agent or go get them of there date and do something.
They are the ones getting all the money for no risk!
BluegrassJamie M
What is the main reason then!
BluegrassHi aturner
I am no finance guru, but with your tax levels positive geared is not the answer.
Granted you get depreciation (on positive geared property), but why would you want to put more money in your account to be taxed more.
I build investment homes for people and have done so for over 16 years.
In you position you should be looking for new – to be built house and land that will give you capital growth.
I would shy away from units unless they are in configuration of duplex, triplex or quads.
Have a look at the website http://www.raspinvestment.com.au on the page we answer your questions.
Regards
BluegrassElisey
Just remember that if you have to go $50.00 under market value at least you have stop the flow of cash out of your pocket and a percentage of the drop can be claimed on your tax.
Also make sure you are using the ITWV form so you get your depreciation back weekly if on PAYG.Novusprimo
Putting it out to tender will be time consuming and the only builders that will come back to you will be nail baggers.
You can work out the fair price yourself by asking the builder who quoted you to brake it up into sections.
What you are looking for is a meter square ‘m2’ rate.
The price also depends on whether you are building full turnkey or doing some items yourself.Site works will be a cost not m2. Is the land flat, have you got a soil test?
Garage, porch, alfresco, will be about 850m2
Internal will be about 1100 m2Example: 200 m2 home slab on ground will be a 205,000 – 215,000 subject to the inclusions.
If you are two story you need to add about $100 per m2.This is just an approx. as I do not know what the design looks like or the amount of valleys etc. in the roof.
Hi Michael
I have yet to see Westfield commit to that town centre! Your quote.
Michael you must have missed all these articleshttp://www.coomerainvestor.com.au/commercial/westfield-saves-up-to-94m-on-coomera-town-centre-infrastructure-costs/
Headline from the site: “Westfield Saves Up To $94m on Coomera Town Centre Infrastructure Costs”http://www.goldcoast.com.au/article/2011/03/16/299685_gold-coast-business.html
Open par. from the article: “WESTFIELD has emerged as a big winner in the state government’s proposed overhaul of infrastructure charges, potentially cutting the cost of the Coomera Town Centre by as much as $94 million.”http://www.skyscrapercity.com/archive/index.php/t-795274.html
Opening par from the article: “AFTER more than a decade of planning and controversy, the billion-dollar Coomera Town Centre has been given the green light, with the State Government signing off on the Gold Coast City Council master plan.The purpose-built retail, residential and commercial hub will have the Coomera rail station at its centre and is expected to eventually create 20,000 jobs and 10,500 new homes over the next 15 years.”
Coomera or Boomera as you call it is happening.
The new Tafe college ‘Government funded is completed and open, the roads have been widened and the land is being developed.I hope this allays your fears that Coomera is not happening.
If not do the web research yourself, there are pages of it.P.S. Here’s another
THE Coomera Town Centre’s massive retail heart could be open by 2013.Westfield, the key player in the long-awaited $1 billion precinct, will lodge a development application for its shopping centre in the second half of 2011.
Westfield spokeswoman Julia Clarke said the application would be lodged ‘some time after the middle of next year’, but she did not want to speculate on when construction would start despite Myer stating previously that it could be open in 2013.
NSW2011
Exercise your cooling off option NOW!
The building is a lemon, if it is 3 years old it will be a lemon tree by the time you stop spending money on it.
The agent is not to be trusted in this case. They would have known the condition.
If you want to give money away, I can get you millions of bank accounts to put it in.
Cooling off means that, you have cooled on the purchase, you see too many problems and you want to cool your heals and regroup.
BluegrassHello JCB123
There are two main areas of Redbank, the area closest to Goodna and the area closest to Springfield Lakes.
Going anywhere near Goodna is going to cause you heartache in the IP business.
Getting close to Redbank – Springfield, Brookwater etc. will in time make you very happy.
Redbank – Springfield is quickly growing with the major developments that are happening in Springfield, Brookwater etc.
Ad to this the extension of the Centenary Highway, round the back of Springfield, Augustine Heights, Redbank and you have a area, that despite it's not so squeaky clean past will outgrow it's positioning to Goodna and Collingwood Park.
Redbank is going to be five minutes drive to the new supper town of Ripley.Investing is about 'timing and growth'
If your timing is slow you miss the growth, if your timing is too soon you buy your growth!Ripley Info – http://www.abc.net.au/local/stories/2010/05/26/2909398.htm
Ripley Info – http://acnu.org/data/John%20Adams.pdf
Positioning of new Redbank – http://www.nearmap.com/?ll=-27.659356,152.883425&z=14&t=k&nmd=20100605Bluegrass
http://www.raspinvestment.com.au
R esearched A lliance S tock P rogramHi ccpat
There are a couple of reasons people ‘investors’ are fleeing Logan Central, but I believe that the main underlying one would be that they cannot see the property they purchased getting back to what they paid for it anytime soon, we are talking years!
Logan, Marsden, Browns Plains, Crestmead etc. were all sold out by Marketers, in other words people bought them from Marketing Groups, most likely from a seminar or telemarketing phone call to a presentation, at a price that had $40,000+ marketing fees in them.
Most of these properties are well built and most will still have some depreciation attached to them.
If you are really wanting to get into the IP business ‘and who does not’! may I suggest you either talk to a builder and have a home built for you or check the web and have a look if there are any home and land packages available.
N.B. As of the 1st of August the Qld. Government is giving away $10,000 to anyone that purchases a new home and there are some builders adding more to help keep there subbies in work.
Always remember that when purchasing an investment property, it is about the figures, not where you believe you want to own a property.
Look at the house as a ‘Brick Money Box’!Bluegrass
P.S. http://www.raspinvestment.com.auHi Leehom
Usually the internal depreciation runs out at around 7 years and the external 25 years.
So you have some of the external left.
Internal, the best thing to do is renovate what is there.
Do the carpets, curtains, paint, fans, lightfittings etc. and then get you QS back in.
You will be pleasantly suprised at what can be achieved for not a lot of money.
Use the equity to pay for it and then up the rent because it now looks new!
Regards
BluegrassHello B2 Luck
We can help with all of what you needs are in both finance and property.
The advice from Jamie is spot on so run with him first his is the best answer for all concerned.
We have property all over australia, some negative geared cash positive, some negative geared negative cash flow.
Bluegrassfree wrote:Good Morning AllAs the subject suggests, all the savvy investors can you please advise how do you manage time, specially with 2 kids, 8years and 13 months.
How do you set up your day?
What do you do differently?
When do you get time to see properties?
Sorry got to go 13 months old needs breakkie, has been unwell and so is the 8 year old both down with fever.
Regards
FreeHello Free
I cannot answer the kids thing, but I can answer the investment thing.
Investing in property is about the figures and figures can be done on the web.
Look at an investment property as a Brick Money Box with depreciation in a growth area and you will have a lot more time on your hands.
I have sold/built over 30 properties per year for over 16 years and 80% of those have been purchased on the figures sight unseen.
Bluegrasssaqib wrote:Hi All,I am planning to buy my first property but not sure where should i start from, I can afford a mortgage of $180k and i have $80k in savings to use for the property, so i am looking for proeprty around $250k mark in Qld. Can anyone tell me which areas are good to buy (less property price)and where property prices will go up in the future or atleast stay the same!
I heard properties in the area of Coomera Gold Coast is going down and i read in different articles that its best to buy property their now .. what you guys recommend ?
I am just confused i work in brisbane city but wont mind travelling 1hr-2hr to get to work. As having a own property is much better than renting one!
Please suggest!
Thanks
Hello saqib
Whilst you indicate that you believe owning is better than renting, there are many that would no agree with you.
I have a number of clients (that I have built homes for) and they are still renting.
The reasoning is they can live where they want and the investment property can be where timing and growth area or about to be.
Coomera on the east side of the highway is one of the best opportunities in SEQLD at the moment.
Have a look at http://www.raspinvestment.com.au in reference any questions you have on Investment Property.
If you email me I can do a Property Investment Analysis report for you which will indicate you will be able to buy more property for your dollar in the investment field opposed to owner occupier.
BluegrassHello tminets
Yes the company has been around for a long time.
They sell new property to those that want to listen to there spin.
If anyone is offering guaranteed rent for ten years (and is not the defense force housing scheme), you are the one paying for the guarantee.
We build houses for mum and dads and investors and we could not offer anything like this.
Be careful of the spin doctors (companies that are one stop shops and want to come to your home and show you how you can buy a property).
Deal direct with the builder.
BluegrassHi Dloy
It about building a bigger bank account using other peoples money. Easy really when you have an open mind!
Love you signoff comment
BluegrassI agree with Jamie M, 4% is low when there is some good stock in the market at the moment and the yields are all over 4%.
In fact the NRAS product I wrote about is 6.84% and gives you another $60.00+ per week in you account.
BluegrassAs both Jamie M and JacM state, there are a number of ways to go about this.
With you total gross income being so high, your thoughts on 90% would seem founded.
As your safe input is considered the least amount you could put into an IP, can I suggest the NRAS product.
I have done some sums on our NRAS calculator and the following figures (they need to be confirmed by a licensed finance consultant) are the outcome.
NB, the product is in Queensland, we are looking at a parcel of land at Soldiers Road, in Berwick but it is a good time away from being sorted.The house purchase price is $370,000
Your contribution is $37,000 + costs
Your expected tax deduction using depreciation and NRAS deduction is approx. $9,400
The result is that this property will put approx. $63.00 in you bank account weekly.Disclaimer: This is only an example for the purposes of research.
I know others are against the NRAS system and so was I a year ago.
They (the government) have finally figured it out and there are people close to us that are all having a good experience from it.
BluegrassHi Bonnie
All you really need to do is get and asset and liability (A&L) form completed and then you are not stabbing in the dark.
BluegrassHi David
If you call BMT you should be able to get the report for $440.00, that is all our people pay. N.B. New property only!
BluegrassHi again anhie
We just put a lady into an Investment and see is earning 45,000 gross with a property worth 329,000.
Anything is possible if you try.
Well done, keep you mind open and away from seminars!
Bluegrass
