[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

July 24, 2015 - 6:53 pm

Hi Corey

They’re great yields. Are these in Adelaide or from your clients in SE QLd??

Cheers,

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

December 18, 2014 - 11:08 am

Dan

Have you tried passing your query past a BA. Your parameters are very wide and its all about refining the requirements so you understand where to start looking.

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

December 18, 2014 - 11:00 am

That is a really interesting question!

Could could be seen as a repair (replacing like for like), as long as the previous lawn was ‘in a state of disrepair’ or as an improvement since lawn may not be regarded as essential (although usually is).

A further question would be, could you scrap the old lawn (from a depreciation point of view). I have never seen lawn included in a depreciation schedule.

I would dare say the ATO only considers items inside the house, rather than the property in its entirety. But worth asking the question.

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

December 14, 2014 - 3:06 pm

Hi Mark

Tony Neale who posts under ‘thecrest’ is involved with motels etc. Search for posts by ‘thecrest’ and you’ll find his details and link to his email. His signature block is

thecrest | Tony Neale – Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me

selling motels in NSW

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

December 14, 2014 - 3:00 pm

Hopefully one of the experienced legal and finance peoples out there can shed more light, but I would have assumed this bought you time, and locked in that rate for the 12 months worth of interest payments (great if the IR was looking to go north, but not as good if the IR was looking to go south).

Best to ask your accountant how they viewed it and the pros and cons of options.

• This reply was modified 9 years, 4 months ago by  ChrisA1.

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

November 28, 2014 - 6:49 pm

You also have to think about the ongoing costs of a unit – body corp fees. While some elements are cheaper, the strata fees can certainly bite into profits. Make sure you do your cost spreadsheets on any prospective purchase.

Thinking about capital growth, land appreciates, buildings depreciate. You can do more work (renos etc) on a house over a unit.

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

November 21, 2014 - 8:00 pm

Agree with Jamie

There would be many companies who project manage the development. The first step they would go through would be assessing if the project could be undertaken and costing the process.

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

November 20, 2014 - 8:32 am

Would you be self managing? What about PM fees. Are your ‘capital deductions’ maintenance costs?

I usually add $2,000 for incidentals (I just had to pay $500 for a few tiles to be fixed in an IP – always one off type costs).

Agree with Jamie – rates won’t stay this rate forever.

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

October 28, 2014 - 7:51 pm

Great comments by everyone above.

The only additional comments I would make is that it is best to separate the financials and the house hunting/buying processes. There are many great brokers on this forum who will step you through the refinance process, then when you are ready you can step through the buying process. There are also many great buyers agents on the forum who are experts in the areas they cover. The good thing about refinancing is that you keep the refinanced money against your PPOR mortgage until you need it, so it isn’t costing you anything until you need it.

Take it at your own pace, you need to be on top of your game to run with companies that take you through the whole refinance and buying process all at once (as Yale appears to be doing) (it is exciting yet draining each time you go through the process!).

I found this article (https://www.propertyinvesting.com/investing-rental-property/) a good little summary for rentals.

• This reply was modified 9 years, 6 months ago by  ChrisA1. Reason: Added website link

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

October 23, 2014 - 8:19 pm

Thanks knightm,

Very interesting graph indeed and great it came from a Departmental source. I also found it interesting that the Riverina and Far West are at the better end of the graph – agriculture is hopefully doing ok in these areas now….

I found it interesting that Newcastle is quite high, and Parramatta for that matter. Maybe coal and other industries traditionally in Newcastle aren’t doing as well now. I assume Wollongong would be in the Southern Highlands – Shoalhaven line?? (Even though Wollongong is quite different to Southern Highlands as a population group).

It is brilliant that these are Sept14 figures – I’ll be keeping this link for future reference!

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

October 23, 2014 - 8:07 pm

David Hall wrote:

If you were to buy your dream home at the vines (or elsewhere), you can rent it out for 6 years, and still legally claim it as your PPOR for tax purposes. Given you have a company house this would be very advantageous.

Not sure this is correct. You need to live in the property first, then you can rent it out, as long as you don’t own another property as your PPOR at the same time. If you have a company house, then you wouldn’t buy more IPs and stay in the company house?

I agree with Benny’s comments/thoughts above.

• This reply was modified 9 years, 6 months ago by  ChrisA1.

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

October 13, 2014 - 6:47 pm

Hi Dezability

Do you know of any Buyers Agents in the area who could bid on your behalf?

Not sure if you could put in your highest bid with the selling agent prior to the auction (although you would want to monitor that they don’t automatically use your bid s the opening bid).

Do you know what the property’s approximate value is?

Cheers

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

September 29, 2014 - 2:13 pm

Great interview Engelo

Very American interview by the interviewers, but I’m glad you identified the difference between US and Australia and explained the principals – trusting others, building relationships, spending time yourself (your first reno). Good first question for REA – not many would spend time giving info without a guaranteed outcome, and those that are, are worth keeping!

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

September 9, 2014 - 6:28 pm

Hi bla

There are many mentors depending on what you want. It sounds as though you are looking for general type of guidance.

A search on the forum brought up the following responses.

https://www.propertyinvesting.com/topic/4992248-which-author-mentor-trainer-strategy/
https://www.propertyinvesting.com/topic/4993666-tasmania-setting-up-structure-need-accountantadvisormentor/
https://www.propertyinvesting.com/topic/4992248-which-author-mentor-trainer-strategy/
https://www.propertyinvesting.com/topic/4992495-experienced-property-investing-advice-needed/

The best mentor is to read widely across this site. Also read the ‘strategies explained’ sections on the front page which go through the main strategies. Read widely and ask lots of questions.

There are also a lot of books on investing by Steve McKnight, Margaret Lomas etc etc.

Cheers,

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

August 27, 2014 - 8:10 pm

mmm sounds like a broker situation so the broker can talk the bank’s language on your behalf.

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

August 24, 2014 - 6:58 pm

Thanks for bringing so many valuable threads to one place Benny, you have helped a lot of newbies, and not so newbies.

Appreciate your time delving into the vault and for teaching others to fish!

Cheers,

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

August 24, 2014 - 6:48 pm

Invest remotely, yep I agree, stepping out of the comfort zone but the Sydney market for me is just not fitting my criteria at the moment. The first few scare the bejeebers out of me then you understand your new comfort zone, and it expands.

As you say, plane tickets bring everything so much closer, including your goals.

Analysis paralysis is sending me insane, and frustrating my partner no ends…

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

August 18, 2014 - 5:46 pm

Hi Ben

While not responding to all your questions, I am wondering about your statement that since you have lived in the property for 12 months, you cancel the CGT?? Since you have owned it for 12 months, you would pay 50% CGT, but not 0%?

If you then subdivide and develop etc etc the clock might start again re: values etc as new values would be calculated following the subdivision?? Not sure here, just throwing out things to think about.

Are you asking what structure to buy in? I thought that decision would have to be made prior to buying the property at all (as opposed to prior to developing).

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

July 28, 2014 - 3:43 pm

superAndrew wrote:

Ask them for a list of properties they have sold in the last 6-12 months and check if they are similar to yours.
Then you can get an idea if they know how to sell/market your type of property.

Talk to at least 3 different agents.

+1
and ask them how they would market your property (btw do you know if you would market your property towards the owner occupier or investor market). In selling my IP, I interviewed 4 REA and also asked my partner to go to open houses to see how they interacted with prospective buyers, and how they ‘sold’ the house. The Open House inspections were quite telling for us as one of my shortlisted agents was quite negative about the property during the Open House, while the agent we have chosen had a slightly more difficult place to sell and was quite creative in how he sold the property. In interviewing the agents, I also nneded to know if I could work with them.

Oh, and if you’re asking about the first step (actually finding the agent), I browsed RE.com.au to see who was selling in the area, then went about interviewing agents (as above).

• This reply was modified 9 years, 9 months ago by  ChrisA1.

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

July 28, 2014 - 3:35 pm

Great comments by Richard and being a fellow Bisbanite, certainly give him a call for his recommendations (the conversation could drift to good PPoR locations!). Reading other posts by Richard on the forum, I am also aware of the wealth he has generated through various property strategies. He may still have his API article that explained some of the strategies he has used to generate this wealth.

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'