Forum Replies Created
Ok I'm starting to understand. In lieu of what I want to do. Wat do u suggest I do??
Thanks guys and Yes Shanin that is exactly right. Terry I didnt think that would matter where the money was coming from? Im just trying to do the best tax effective thing with that money. Can you pls explain. P.S Ill have that money to you next week.
Hi I can recommend a very good NZ accountant, I think he is a aussie, so knows the Tax system very well over both countries. Ive been using him for about 10 years. Highly recommend
Christopher Raynal
Director
Ace Accountants N.Z. Limited
#1991, PO Box 106910, Auckland, Auckland City 1143, New Zealand.
Telephone 09-973 4407 (+64 9 973 4407)
Fax 09-973 4408 (+64 9 973 4408)
Email [email protected]
Website http://www.ace-accountants.co.nz
MSN Contact [email protected]
Skype Contact craynal
Hi Urilla, a friend of mine is a builder and developer in the Eastern Suburbs and does what you are after, ill probably get him to do my proposed development im working on now.
Use my name as a reference and im sure he will look after you.
Cheers
Dean McInnes
Warren Tonkin
J.F. Tonkin & Co Pty Ltd
0410 626 127
Hi TerryW and Richard
My friend wants to buy and live in the front house, $400K is all he can afford so he can help me by putting dollars in while I develop the 2x Townhouses at the back. Do u mean to divide the land into 3 as there is 2 Townhouses behind the main front house? This is a new equation for me so just try to get my head around it. Also how much and how long does this sort of structure take to setup.
Many Many thanks for your help.
Cheers
DM
HI Rob, yeah im aware its on a busy street which is a little concern, but other than that location looks really good and deal stacks up OK, these are the figures thus far below.
I do know they have another coming up in a few months in North Perth, so maybe best to wait for that as it might be a better street and then I can have my finances better sorted. Im really keen on Perth as well, I have a property each in NSW , VIC and QLD mining town so Perth would be a good diversifier next in the portfolio as I think its ready to go again. As mentioned I think I need to do some more research on the area as I know very little, more of a hunch than anything and being 3kms from town in any major CBD is hard to go wrong with, but I will do some due diligence.
Initial deposit $140,000
Construction $323,000
Total investment $463,000
Est. final market value $565,000
Est. Capital gain $102,000
Rent return (average) $510/week. $660/week with furniture
Yield 5.8% to 7.4%
Return on Equity 70%
Development profit 22%
HI Rob, do u have access to your API articles, would love to seem them if possible.
Where is your project in NSW?
Cheers
DM
Thanks Jamie, I have spoken with Derek tonight.
Hi Rob i couldnt see anything about there East Perth Offer. The proposed development is in Loftus Street if u know it.
The only thing im concerned is if teh built in equity isnt there on completion. I met someone who has done a few with Bob Andersen and he has had a 50-50 strike rate with available equity on completion.
I welcome any other comments. Appreciate your feedback
Cheers
DM
Is there any way to avoid paying overpriced properties as its pretty hard at times to exactly know what a property should be worth/valued at?
Cheers DM
Ive had this one for quite a while and reasonably happy with it, so no complaints from me.
Cheers
Dean
Talked to a agent and seen similar houses for that price on the market. Plus the house will be of similar quality to our PPOR which we had valued for more than that. $525 is being realistic/conservative.
Wandoan
Hello All
My accountant eventually setup a hybrid land trust ($3300), i really still struggle with it all, but just trust my accountants judgement. I just bought land in QLD and plan to put a house on it, it will be positive cash flow.
I have a wife who works part time and 2 kids, combined salary just under $150K and plan to buy more IPs down the track
I had drama's getting residential lending through CBA and eventually got commercial lending after alot of headaches
But I want to know some more, like teh tax implications, especially for my wife who wants to claim Tax Benefit A & B as I thinking being the lower income earner the asset i belive is in her name. what impacts will it have on us both
Why wuld he choose a hybrid trust and not like a family unit trust with the kids? And is this still going to work OK well considering the extra bank charges I have to pay including a considerable higher interest rate, all these costs and extra difficulties with the trust have been considerable.
I would like to know the pro's and cons of this for my own understanding. Can this be explained to me please as my accountrant is difficult to get a hold of and it be good to get unbiased opinions.
Many thanks
Dean
Hi John
Which estate was this in? and do u have an deals left, im considering all options at this stage before making a final decision.
Many thanks
DeanOK, my accountant is setting one up as we speak and thought it was a little on the high side at $3K…thanks
How Much would you expect to pay for a trust, roughly?
Thanks guys, I trust my accountant is pointing me in teh right direction, but I want to know waht im doing though rather than just agreeing and sating yes. Ill try and find your prevous posts thanks Istvan051, hopefully that will help also
Hi Richard, can I also please see your interview, like Brokota, im trying to start a portfolio so I can eventually quick work (5-7 years) and live of the income from these IPs. Trying the find the best way is hard so any help would be great as im researching hard.
Cheers
DeanIt does sound a little hard. I thought it was a relatively easy way to get in and learn a bit more about IP while having positive cashflow.
My aim is to quit work in 5-7 years and have income from IPs to live the life I want. I thought of doing a few of these sort of properties and then selling one or so to pay back some of the debt and buy more over time (thats my exit startegy), but the capital appreciation just might not be there quick enough to make this a worthwhile investment. So i might have to look further abroad, I just wanted to get some valeuable opinions as I want to make sure im doing teh right thing.
Cheers
DeanI have a spare ticket as well from Friday-Sunday, any fair offer will be accepted
Cheers
Dean[email protected] or 0412224821
