I didn't challenge it as it was part of a restructuring of our portfolio, not to withdraw equity as we didn't need it. Lately we have been buying undermarket properties and renovating them. We do most of the work ouselves as we love it. Both (hubby and I) work fulltime but not for much longer. 

I don't know the rules in your state but in NSW auction conditions still apply after the auction (7 days?) so i doubt they will take your offer with conditions. They usually list for sale with a price attached after the property is passed in. It will be higher than the reserve. You will have more competition now that it's on the open market. Why…[Read more]

Hi, I would seriously look up Nathan Birch. He started looking at real estate books when he was 13 or 14. He made his first million before he was 21. He had no help from anyone. Left school, worked 2 jobs and started.I'd send him an Email. He's a wonderful guy who goes out of his way to help people get started. If he's got a seminar lined up in…[Read more]

In my experience they just do a desk top eval.The value is that- the value of a typical house like yours. The low one would be if your house needs work. The high one if it has extra features. If you need a better value I think they need to go in and actually look at it. We bought a place for $218K We totally renovated it with new kitchen, bath…[Read more]

tonnygarden wrote:
I would like to say two things to you; if you don't know anything about the real estate market then you should hire a real estate agent; secondly, real estate is a very good sector for the investment purpose. If you invest at the right place then you will definitely get some profit in the…[Read more]

Only have $5K cash would worry me. If one property is empty for a month or you need to replace a hot water system or the like, you're in trouble. Do you have an offset account. I don't like useless cash sitting around while you're paying interest but an offset account can help with that. That way the money is saving you interest but is sitting…[Read more]

mellissac wrote:
Based on getting $385 a week The unit is costing us about $90 a week on an interest only loan. Im guessing with principal we would be at about $150 a week. Is this alot for a negative geared property thats probably gone up about $100,000 in 3 years?

So it's cost you $90pw for 3 years. That's $14,000 and you've increased in…[Read more]

Yep- light sand, oil based undercoat/sealer then paint. Providing they are attached well (ie not coming off the wall).I'd remove them and regyprock for a better finish. Depends how much you want to spend and if it for a rental or PPOR.

As mentioned a positively geared property is one where the rent covers ALL the outgoings. Some people like to convince themselves that a property is positively geared by only counting the interest on say 80% of the loan (what they borrowed) and not including the deposit (which still comes at a cost) and purchase costs. I count ALL costs.But a…[Read more]

Hi found this so you can claim the exemption. NOTE-this is for NSW.Also if you are in NSW there is a tax free threshold so you likely wouldn't have to pay anything. Absence from your former residenceWhat is this concession? If you move out of your principal place of residence (your home), and move into another residence that you do not own (for…[Read more]

streamlineinvesting wrote:
The issue with purchasing regional property is typically there is no capital gains, but I do not see how it matters if the property is paying for itself. If you find a true positively geared property, then with some management on your part, it will simply pay for itself, and need no financial input from yourself after…[Read more]

Hi, do you need a unit that expensive? If you want newish I guess you'll pay for that. Will you be able to buy a newish unit for $380-450K? Just trying to compare apples with apples. Compare what you'd be renting with what you'd be buying first. I thing the rent would be lower and the costs (by the time you add strata, council rates, water rates,…[Read more]

Interesting and some great points.  I definitely need to exercise my willpower muscle haha. Especially when it comes to dieting. Thanks.

Do you own property? If the answer is no then No you can't claim. If the answer is yes you may be able to claim it as education relating to your property portfolio.

Hi Jye and Tahnee, You make some good points. Sounds like you're on the right track. Are you wanting to do a buy reno sell strategy? It's a great way to build up some equity but in order to "make it" you need to hold too.Be careful not to be too limiting when you reno too. It's great to know a target audience but an area doesn't only have one…[Read more]

Check that you CAN live in it. Many have limitations on who can. I've read horror stories where people have bought assuming they can live in it. You know what they say about assuming!!!Also check if the fees would still be payable if you were to live in it. Do NOT take the RE agents word either. Get your solicitor to check.

Also what name the loan is in makes NO difference to CGT. It's who owns it (as in who is on the contract).

3. I just cross it out.My hubby hates paying full price for anything. When we first got married I wanted a sewing machine. They had a deal on- if you bring in your old one you get $50 off (that was a bit nearly 30 years ago). Anyway he said- look I could find an old one, bring it in but you'd just have to take it to the tip. Yep- they gave him the…[Read more]

That is correct. The rent is considered income. She could transfer her half of the IP to you.

Tracey B wrote:
When purchasing I always ask myself:  Will this purchase take me closer to my goal or further away?

Good point Tracey. I'm the same. Unfortunately when people start out they do not have clear goals as to exactly what they do want to achieve and by when. I know I bought my first property because I thought it was a good idea. I d…[Read more]