Hi All,

Could also be as simple as a PAYG Variation – need more details to be of any use.

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Originally posted by Mig:

So basically the deal isnt so viable anymore…

Based on your comments and research I believe you have covered all bases and should be ‘congratulating yourselves’ rather than feeling blue. The processes you have employed to date have identified issues with this property and thus increase your chance of long term…[Read more]

Hi Michael,

Try this link – Julia is an accountant and makes a number of comments in this thread that may be of use to you.

https://www.propertyinvesting.com/forum/topic/11683.html

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Hi Land,

Not sure who told you you couldn’t borrow anymore money – a bank employee? If so, contact a good broker (take you pick from those that regularly post here) and see what they say as they collectively and individually can/do have access to a number of lender’s loan products.

Some lending policies are a little more relaxed than others and…[Read more]

Hi Mark,

Minimising land tax can be accomplished by purchasing the properties under different arrangements.

Eg some in individual names, some in joint names and/or in different trusts.

Particularly in the case of different trust structures the annual running costs of a trust (among other things) would have to be matched up against the tax and…[Read more]

Hi Mike,

Try the following document;

http://www.sro.vic.gov.au/sro/srowebsite.nsf/taxes%20rates.htm?OpenPage&charset=iso-8859-1#duties

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Hi Kp,

I must admit I am primary school orientated where the focus is on ‘the basics’ – but in answer to your question coverage of financial matters is very scant in the curriculum although it does make some token appearances from time to time.

The curriculum is pretty crowded in most schools today but there is a drift towards offloading some…[Read more]

Hi Ronulas,

I certainly wouldn’t sell unless you have a much better use of the money (in investment terms)

It seems to me you have made a sizable capital gain and the ‘cost’ of this profit is a reduction in the cashflow. So what – the property is still paying for itself and if, as you suggest, it continues to grow everything is good – isn’t…[Read more]

If I didn’t scare you off last time, then BE AFRAID, because yes (your worse nightmares have come true) I’m a school teacher!!

So pretty please with a jellybean on top, concentrate on your exams and then GO FOR IT. Good luck with your PI RESEARCH, SAVINGA AND action. Spend some money to link with Rick Otten, maybe if you become a spotter he’ll…[Read more]

Hi Cana,

A SMSF cannot own the house that you are residing in and as such it will always be out of the reach of your SMSF. Nor can a SMSF purchase investment property from you that you currently own – which is what G7 was explaining.

By way of comparison a SMSF can own the commercial premises that you operate a business out…[Read more]

Originally posted by AusProp:
has anyone else not received their newsletter or is it just me? I am wondering if this may be why there aren’t many posts.

It is probably just a West Australian thing John – I am still waiting too.

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Hi Xquis,

I would be very concerned if you were buying a unit that small as an investment. Lenders have a great aversion to financing such small places and therefore you would be using more of your cash and/or equity as a deposit than is typically required.

Because of this you could well experience difficulties selling the property later on if…[Read more]

Hi Cana,

It depends on what you are trying to achieve via property investment.

There are people here who would spend their $300K on a couple/few cashflow positive properties. Generally speaking these people are pursuing a ‘cashflow’ investment vehicle based on rental income.

Equally there are people who would be happy to put in some cash in…[Read more]

Hi Greenjoy,

Not sure of your exact situation but you certainly can wait until later on in the year.

Be aware that QS do get busy towards the end of the financial year and you may get caught in the rush and incur small delays.

The second point is that the depreciation report can be used to complete a more ‘aggressive’ PAYG variation (if…[Read more]

Hehehehehe

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Originally posted by Broche:

working it out I should be positive on it for about 5 years , then look for a sell, picking up 8% compound growth, so I see it that i will be positive for 5 years then sell for 50k profit, looks relativily low risk.

Hi Broche,

As others have said check out the body corporate costs – they can be high,

I wonder…[Read more]

Originally posted by noddies:

Replies on this site are intended as general information only, as any specific investment solutions/advice must only be given in accordance with the requirements set out in the Financial Services Reform Act 2001 and the ASIC guidelines as set out in PS175.An appropriate professional should be consulted for specific…[Read more]

Originally posted by JoD:
The agent insisted there were other buyers waiting, but I never know whether to believe that, so went with my gut and refused to offer higher.

You could always counter with – they’ll now have a chance at this property then and you’ll still earn your commission without any problems. I expect the under offer/for sale sign…[Read more]

Hi Julie,

Welcome back – given it has been around for ages I am surprised that so many accountants do not know the situation.

No doubt it is a case of information overload for those accountants who, for various, reasons cannot or do not focus on property.

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never…[Read more]

HI Lukis,

Too long.

Things change and you could be up for significant break costs if ‘things changed’.

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.