TC62 wrote:
Just sounds like all the same <moderator: delete language> you get from all those east coast wealth creation companies like ABC, Premium Finance Services, Ironfish, Optima Equity Solutions that fly you interstate to flog you one of their investment properties. BTDT, not interested!CHEERS!TC

Not exactly the same. Your examples fly to…[Read more]

maz_lc wrote:
My question about the return is regarding negative gearing, you can't claim more than you pay on tax, so if your rent is to low you are not earning income, you are spending additional income. So then there isn't room to claim on deductions such as wear and tear. 

What????

It's Timeshare. I went to a presentation and got a "free" weeks accom. You also had to go to the 90 min presentation at the resort. It cost me $90 to register. I got a "free" week in a lovely resort on the Gold Coast for a week with my kids. Booked the presentation in one morning. Went, listened and said no thanks and went to the beach.I went to 2…[Read more]

You get it to see if there are pests. Or more importantly damage from pests. Termites can be hard to spot and damage can cost tens of thousands of dollars. It's a safeguard. Same as a building inspection.

Jake H wrote:
  Catalyst you said I wouldn't have to negative gear it if I do a good Reno, but I thought it was good to negative gear as you got tax benefits. Or am I misled? But your method of using equity to accumulate property is really what I'm leaning towards. Do you think though by doing this way I would be wasting money on interest?…[Read more]

Link us the property then you will get an answer. Maybe the price is wrong/the photos are bad/it's not worded properly/it's in a poor location/it's too small??? Anybody's guess.As mentioned your repayments have NOTHING to do with it. A RE agent asked me "how much rent do you want?" I said $1000 a week. She said "WHAT!!". I said yes what I want is…[Read more]

So you are paying all the costs and your parents get half the capital gain??? That's very generous of you. Unless getting finance is a problem you'd be better off buying something yourself and getting ALL the capital gain.

lextsy wrote:
Once the external granny flat has been removed application can be made to have a legal duplex or lower granny flat approved.(apparently your not allowed 3 kitchens on any 1 property) 

6.6% is not CF+. Don't buy it wishing you can change things that may not eventuate.Application to get the lower granny flat may not be easy. To…[Read more]

Jake H wrote:
You can purchase property, claim the FHOG. Rent it out for the first 11 months then move in and live in it for a minimum of 6 months and keep the grant.

Yes. As long as you move in "within" the 12 months THEN stay for 6 months.

Jake H wrote:
At the moment I plan to buy an old house. Renovate it pretty quick and start renting it out and negative gear it and just wait on it until I can do it again. Does this sound like a good idea?

Well yes except for the negative gear bit. If you do a good job on the reno you should be able to achieve neutral to positively…[Read more]

Costs to buy are Stamp duty (check website below) + solicitors fees (including searches etc) $2000 + bank fees $1000? max.http://www.acgol.com/stamp_duty_calculator.shtmlPersonally I think all this CF+ vs CF- is crazy. You'll drive yourself mad trying to decide what to buy and end up with nothing. No-one likes paying money out of their pocket but…[Read more]

What I'd do differently is to keep it. Sold it too early as I was like a lot of newby investors who know they want to get into property but don't know anyone that does it. Bought a great place at a good price but listened to the media hype in the height of the boom talking about how Sydney market is about to crash, interest rates are going to go…[Read more]

Read this thread. There are others on Somersoft also.http://www.somersoft.com/forums/showthread.php?t=60889 

As mentioned any can make the offer. It's only when buying you both need to sign.If it's a deal that has to be signed in order to secure it quickly your brother can fill it out with his name "and nominee". Your name can be added when it goes to your solicitor.But normally you would organise a time to sign with your brother.

I don't know about it having to be professionally cleaned but it needs to be in the same condition you expect it to be returned in. You can't lease out a place that needs cleaning and the lawns mowed then expect the tenants to leave it clean at the end. Agents take photos (or should) of the ingoing condition. Are you happy to have it left like…[Read more]

What is your purpose of joining a club? to buy property through them? To network? To get information?  Where are you located? There are other small groups that meet regularly. If you state your city people may be able to offer alternatives.

Welcome. Reading lots is a great start.Have you been to any seminars? You often meet people there. Find out if there are any meetups in your area. Networking is a great way to see what others are doing and get ideas to cement your own strategy or to find out what strategy you don't want. There are many different vehicles in property. What is your…[Read more]

Corie wrote:
haha…….Yes I am biased but that's because I know how good the REI(Real Estate Investar) tools work and how much time they can save you!You are right, you dont have to buy in rural areas but the problem with finding +ve geared property in a capital city is that it takes a lot more time and your negotiation skills have to quite…[Read more]

Great info above. Also it sounds like it may be a serviced appt. Check that and if so check management fees and how they are leased etc.

Corie wrote:
Hate to sound biased but the best way to find positive geared properties is using Real Estate Investar. I just performed 2 searches, 1 with a minimum rental yield of 8% returning 94 results and the 2nd with a minimum of 9% yield, returning 32 results. Even with an 8% rental yield you are doing well. These searches combined took me…[Read more]