This is not correct. You can't  claim because you "intended" to rent it out. You can only claim if it was actually AVAILABLE for rent. By your description it was NOT available for rent so you cannot claim. An example of being available but not rented would be if it was listed as available for rent but was empty waiting for a tenant. 

Yes as long as you have an income producing asset. You can also claim talking to someone (adviser etc) about your assets.

Check the ATO site to see how far you can go back and change anything.   I think it's 4 years.

tenant viewing session??? sounds a bit bizarre. You can't do anything about it if they vacate. It's nothing to do with you. You have nothing to say about the tenant until you actually own the property. You can't MAKE them stay. The vendor can't give you permission to access the property so it can't be put in any contract. The tenants have rights.…[Read more]

3.58%. haha. That's laughable. I wouldn't touch it. I wouldn't even look at a property under 6% unless it had potential to value add. Good explanation Matt!!!

Why is a mate paying market rent when you are living there? or do you mean he's paying normal rent for a room?Market rent would be the amount you would get if you rented the house out. I think you are too honest. I'd also double check the CGT with another accountant as you were living there so it was/is your PPOR.Out of curiosity I'll ask my…[Read more]

Not for me. Harder to rent, harder to sell. Price will be lower to compensate, as will rent.

Who is suggesting these properties? Are they under market value? What is the yield? How much will you be out of pocket each week? Which one has the best CG prospects? Can you value add on any? Or are you talking off the plan?Do the numbers, that will help you decide.Yes there are thousands of properties to choose from but not so many good deals.…[Read more]

I only know a little bit. The thing is if you decide to sell you limit your purchasers to investors as there is usually a long lease (10yrs + option to extend sometimes). Rents increase with CPI but any I jhave looked at have been under market rent after a few years. So your sale price is lower to compensate for this. Check what fees they charge…[Read more]

fredo_4305 wrote:
Im tossing up between QLD and Melbourne at the moment but can't make a decision lol

Why have you picked these? Do you think that's where the next boom will be? Or other reasons?I'm still buying in Sydney and will keep doing so while I keep finding bargains. Also I think prices are still rising.

Nina_10 wrote:
Can anyone tell me if they have invested with property manager groups and how effective they are. I have been given a choice of 3 properties to choose from and not sure which way to go. 1.Melton Vic. 2.South Yarra,Vic. 3.Zillmere, Queensland, (they are all off the plan properties). I am first time property investor, so would…[Read more]

I think they can be a pain. One more thing to break down, leak etc (nd that's without the insurance worry). Maybe ask a few real estate agents whether the demand is there and would it increase the rent. If not get rid of it. I'd advertise it on Ebay (dismantle and take away yourself type deal). Easy for you. Just buy some grass to cover.

Get on the committee and send a letter to all owners through their addresses (some may not live there).Speak to the strata company about costs and find out why fees are rising so rapidly. You get to vote on strata costs. Maybe they were in deficit and are trying to catch up? Maybe there was a big ticket item that needed addressing? You need to…[Read more]

Yes that's exactly right.Numbers are VERY important. I know when I bought my first property I had no idea how much it was even going to cost me each week. I just knew I wanted to buy houses. Luckily it was the year before the biggest boom Sydney has ever seen.Plus research into the area- infrastructure (or likely changes to infrastructure),…[Read more]

Great points Sue. To add- when looking at a property factor in ALL the costs and work out how much it will cost you to hold. Lora- don't pay market value. Look to make your money on the way in. As far as property in good condition. Sometimes you can save 10% off market value because things "appear" to be not in good condition. Eg a coat of paint…[Read more]

Charles 1 wrote:
Careful buying CF+ve now that interest rates are rising. Many suggest they will go up another 2 per cent in the next few years – that kills your positive cash flow and you end up with minimal growth

You are under the assumption that all CF+ properties have no CG- Wrong!!!

Even BA's don't have a crystal ball that can guarantee CG.  No BA will "guarantee a % CG. All they can do is give you past figures, reasons for buying there etc.Make your money on the way in. Not on 'hoping" for capital growth. No-one predicted Sydney would be flat for 7yrs. You are not realistic. I can give examples of buying 20% under market…[Read more]

illuminati wrote:
Also, just have to be very specific about what you're looking for, sometimes its hard to explain to a 3rd party why one property is appealing over another very similar property.

Agree if you are looking for a PPOR. An investment not so much. It should be about the numbers not whether it's appealing. I purchased through a BA.…[Read more]

I recommend Jacque at-http://www.housesearchaustralia.com.au/   Lovely lady and very knowledgeable. I like the personal service that some of the big companies don't offer. AlsoAlan at http://www.propertunity.com.au/     Covers Newcatsle and surrounds also.

You're kidding right???? You are about to buy a place and you don't know where it is or even how to spell the suburb?  You will "supposedly" get $490 rent???  Who is going to lend you nearly 100% of the cost? What if the bank evaluation is 10% lower when it comes time to settle? Do you have enough cash to complete the deal? If not you just threw a…[Read more]