Hi Terry,

Thanks for that – your post also reminded me that last time the valuer was asked to go out again and value the property in question.

We (the valuer and I) had a good laugh about it and I suggested to the valuer that maybe the bank didn’t think he got the right figure last time and that maybe he should comply and add a couple of extra…[Read more]

Or Ed Chan at http://www.chan-naylor.com.au

Derek
derekjones1@bigpond.com

Property investment advice and researched property in quality locations available.

Hi Spanky,

Notwithstanding the previous comments I recommend you read the Fred Johnson Story (Jan Somers – Story by Story).

Fred details major and significant events in Australia and/or the world in the last 50 years when people believed that it wasn’t a good time to buy property. Fred bought and continued to buy and ended up very wealthy…[Read more]

Hi Allison,

Just a few random thoughts that may (or may not) help.

You will need to be careful to ensure that your father is paying market rent for the property as the ATO may otherwise consider the property to be a true ‘investment’. Obviously this throws other considerations into the melting pot but it is, nonetheless, food for thought.

Once…[Read more]

Originally posted by Mobile Mortgage:
Try these following lending institutions, they have a low Doc construction product, in no apparent order,
Adelaide Bank, ANZ, Bank west, Commonwealth Bank, Stgeorge, Macquarie Bank, Westpac.

Or – even better – ring one of the brokers who frequent this forum and get them to do the leg…[Read more]

Originally posted by JasonBourne:
You can avoid CGT altogether (if your living situation allows) by calling one of the houses your PPOR & selling it – quickly I imagine. Then you can move into the other house and call that your PPOR and sell it with no CGT either. But you may have to do this over a period of time & you should definitely talk to…[Read more]

Originally posted by Micasa:

I purchased an old house, which I demolished and then developed two houses on the land. Initial cost for the house/land $210000 + $30000 for demolishing, clearing and some extras. Build two houses for $255000. Property value after one year is approximately $340000 per house. I owe the bank a total of $370000.

CGT…[Read more]

Hi Kathy,

I am an unashamed believer in holding long term so I am somewhat biased in my comments.

There are a couple of issues you do need to consider when determining what is the right course of action for you.

Initially there was a purpose for buying this investment property. If this purpose is still valid and the property is meeting the aim…[Read more]

Hi Squeaker,

Suggest you visit http://www.gatherumgoss.com and purchase a copy of Dale’s ‘Trust Magic’ ~$99 but easy to read and informative.

Also receommend a search of the legal and accounting forum to see what else is suggested.

Derek
derekjones1@bigpond.com

Property investment advice and researched property in quality locations available.

Hi esshole,

Such a post would be deleted and or edited as advertising is not permitted in this board.

Derek
derekjones1@bigpond.com

Property investment advice and researched property in quality locations available.

Hi MH,

DHA housing has the attractiveness of ‘security’ as you identified in your post. I prefer to work in the open market as I believe that there are greater gians to be made.

There have been a number of discussions about the worth (or not) of DHA property. I suggest you use the search facility located under the forum boards button on the top…[Read more]

Hi MH,

At this stage of your investment journey it is important that you know what you are trying to achieve through your investments and how you will utilise the ‘profit’ in the future.

Having a clear understanding of why you are investing and what your are trying to achieve will then help you determine where your property will be, what…[Read more]

Hi HC,

The OSR (NSW) uses the same determining factors when identifying a property as a main residence or not. The following is an excerpt from the ATO CGT Guide.

IS THE DWELLING YOUR MAIN RESIDENCE?

The following factors may be relevant in working out
whether a dwelling is your main residence:
a) the length of time you live there – ther…[Read more]

Originally posted by terryw:
Banks usually will not accept your valuations – often even if done from a valuer on their panel.

Hi Terry,

Is this a recent development as I have used this approach in the past without a problem. In getting the valuation I have ensured the valuer is a panel valuer and that they make the val suitable for financing…[Read more]

Hi Marisa,

Without knowing the ins and outs of the Mandurah difficulties the Nullaki difficulties were all related to a major backlash against development by the locals who valued their pristine wilderness. The struggle to get planning approval and the never ending delays associated with that was the reason for the financial difficulties.

The…[Read more]

Originally posted by Marisa:
If you want to be one step ahead…. try Nullaki Peninsular, 28 km from Denmark, is a development to watch in the future. Waterfront blocks up to 100 acres are on the market from $350,000.

Nullaki is one of those areas that on the surface sounds so attractive – lots of acres near the ocean but forget any ambitions of…[Read more]

Hi Nemo,

If there is a lease in place then that will determine how much rent can be charged and if/when there can be an adjustment.

So in terms of your calculations you will have to get a copy of the agreement but for now rely on the market rate of the day.

Derek
derekjones1@bigpond.com

Property investment advice and researched property in…[Read more]

Hi all,

Only regurgitating a brief article in a recent paper which said that Walpole was going ‘gangbusters’ – well at least the one property quoted as an example had.

Walpole is a little small and is heavily reliant on tourism for income and a number of CALM officers living and servicing the area.

The school has had declining number in recent…[Read more]

Hi Byron,

As I pointed out earlier – not a commercial investor but I was under the impression if a property is purchased with lease agreement in place then you as the new owner are locked into the previous agreement.

Is this the case? Your previous post indicated that this isn’t the case.

Derek
derekjones1@bigpond.com

Property investment…[Read more]

Hi Ref,
I have edited your orginal post (month – foortnight) to assist others who may care to comment.

There are a few immediate possibilities that could be worth considering. Some of which may, or may not, be relevant or appropriate.

1. Rent something cheaper.
2. Sell the car and use public or a cheaper form of transport.
3. Convert IP loan to…[Read more]