Can someone please give a few examples of things that were advised that saved  money?Where to buy things? What to buy? or are we talking, "no don't do that do this instead"?thanks

What state are you in? In NSW the council valuation is a land only valuation. No-one would want that higher as it increases your land tax bill.

I have self managed one IP that came with tenants, with no issues. My main concern is about sourcing tenants. How do you source your tenants?  Where do you advertise etc? How do you get info about rental defaults etc.

sportz43 wrote:
Hi there.Great forums, first time writerI bought a IP in Melbourne's south east in my own name, settled in March 2010, now getting ready for doing my tax with a new accountant for the first timeHave educated my self reasonably well in depreciation and deductions but seeking relevant real time advice from informed others.1.Is t…[Read more]

Better to buy on Christmas Eve (get a bargain) then renovate. Work out what you can do yourself and what you need to get help with. The most important thing (well other than a cost estimate) is to do a timeline. Some things take a while (bathrooms, kitchens) and you need to get them sorted first. Get a list of recommended tradies ready before you…[Read more]

Yes but when you sell the shares you can't claim the $2,000 as a tax deduction anymore. You can only claim on an investment. If you don't have them anymore then it's not an investment.Gets messy.

Margaret you are better posting this as a new topic. This is a post about tips.

Good advice above. To add- how hands on do you want to be?  How much spare time do you have?Developing takes time and effort. Buy and hold takes a lot less effort. Is your goal to retire/semi retire early? Maybe retire and develop? It is hard to say what will suit you without knowing more basics.Keep reading. But read more than the "how to get #…[Read more]

Rosebud94 wrote:
Hi I am  from Perth and  just in the process of working with a buyers agent from Momentum Wealth to secure my first IP. I have found the process to be pretty good. Just waiting on their due diligence report at the moment before making final decision.Good luck.

Due diligence report? Do you mean the people (Momentum?) who are fi…[Read more]

I've used a buyers agent in the past when I was too busy. It's difficult to keep a good eye on more than a few areas. So I paid a buyers agent to find me a property in an area I was unfamiliar with (but had done enough research to know I wanted to buy in that area). Do your research though to find a good one. All buyers agents are not equal. Let…[Read more]

Hi Rusty you certainly are keen which is great. I'd suggest taking a step back before jumping in head first without knowing what you are jumping into. You haven't yet made up your mind which strategy to use. Sure you can use many strategies but you can't become an expert in all in a short time. Options are great HOWEVER it's not always as easy as…[Read more]

Sorry that did sound a bit harsh. Being in an investment state of mind I always count 100% + purchase when calculating out of pocket. If you have the money invested somewhere else (even in the bank) that is in effect costing you money. If you have $80,000 sitting somewhere it could be earning $300 a month so that IS a cost to you. Good luck. Some…[Read more]

You need to do more research. Where can you buy a place for $60,000? That's the purchase that will cost you $300-400 a week in interest? I think you have your figures wrong. I wouldn't buy a unit. They are EVERYWHERE and rental demand is not strong in Albury. If you bought an ex housing commission place ($130K) and did a quick reno (paint, carpet)…[Read more]

I "would" look at removing the wall. No use replacing carpet etc if you are going to move/remove a wall. Also it sounds like it will better suit the layout of the house. To carpet a basic 3 bed house is about $2500 for a cheap carpet.What about floorboards for the living areas? I like them. I do like carpet in the bedrooms though.  If the small…[Read more]

Well done. As mentioned don't over capitalise. At this stage I would look at the wall being removed. Put in a kitchen and paint. Garages etc can be done later. Be very careful about early access. The owner may decide he sold too cheap after looking at the reno and how much it's worth and not want to follow through with settlement. In this…[Read more]

I know a few but it really depends on where you want to invest. Just my opinion but with a "national" service do you know who you will be dealing with? Who will be sourcing your purchase? I llike the personal touch. Speak to the BA, let them know your specifics etc.

If you live in property B it is your PPOR so you pay no CGT if you sell. Your partner however is not living there so he will pay CGT on his half. This could change if you haven't been living there the whole time. But if you liced there from the start then rented it for less than 6 yrs you still don't pay CGT.If you sell after 12 months the CG is…[Read more]

Why? Are you going to use them? A better question may be- does anyone know a good buyers agent. What area are you looking at? What's your criteria?

Investing in Bali can be tricky. I know of people who have lost lots of money by not having contracts drawn up properly and trusting a "friend". The laws of ownership have recently changed for foreign ownership. You really need to do your homework on this. As mentioned the language barrier is a problem.

saurin_83 wrote:
Response to Catalyst, I am 27 years old plenty of time for retirement, I have read this book from Michael Yardney (how to grow mulmillion dollar portfolia in spare time) through this book I understood that over the time when I reach to retirement age I can use my equity as living cost (which would be tax free, ofcourse more…[Read more]