HI Kim,

Going to lock this thread and refer people to the thread in the correct forum ‘heads up’ so that the community stays ‘tidy’

https://www.propertyinvesting.com/forum/topic/13215.html

Derek
derekjones1@bigpond.com

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

Hi yuyu,

I have seen them $450 upwards and some firms will guarantee that they will find more to claim in your report than the fee.

Derek
derekjones1@bigpond.com

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

Hi Lostkiwi,

There are a number of brokers who regularly post here. I cannot speak from personal experience but others have made positive comments about them and their service.

Derek
derekjones1@bigpond.com

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

Now the Question:

Should we buy another investment property or pay off the block of land first?

Any suggestions?
Does anyone know a good financial advisor in Perth

Hi Ksaleem,

Be aware that most financial advisors will try to sell you a managed fund as that is how they get paid. If you have your heart set on investing via property then a…[Read more]

Hi Nessa,

There is nothing wrong with what you are considering, for many property investors this is how they got started.

Be aware that you will not be able to claim any costs associated with the new property as it is considered your principle place of residence (PPOR) and all rates, taxes, interest charges etc are not deductible.

I also…[Read more]

Steve made a comment at his launch the other night, that he had made far more money from capital gains, than from cashflow.

A closet growth focussed investor ?[biggrin]

Derek
derekjones1@bigpond.com

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

Locked this thread and moved the original question to ‘Legal and Accounting Forum’

Derek
derekjones1@bigpond.com

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

HI Antoinette,

Stamp Duty is a state levied tax and as such you may get a better response if you identify the state you are lookign to invest in.

WA certainly isn’t – stamp duty on property forms too large a part of the govt income. I suspect the same will be said for other states.

Derek
derekjones1@bigpond.com

Property Investment Support…[Read more]

Hi Julie,

Let me firstly say that I am not an accountant and as such you should check your options with your accountant before doing anything.

As Jo said anything sold within 12 months is liable for full CGT. You do need to be aware that the date of sale is not determined by the date contracts are exchanged but by the date the contracts are…[Read more]

Hi Kay,

Funnily enough the last peak in median prices roughly coincided with the peak in interest rates and the ‘crash’ started with forced sales caused by high interest rates and rising unemployment rates.

Derek
derekjones1@bigpond.com

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

Hi Marty,

Definately one for an accountant who is Trust savvy – there are different Trust structures, some of which are more suitable than others.

There is an article in October 2004 edition of Australian Property Investor that may be of use to you.

Dale Gatherum-Goss wrote a book called ‘Trust Magic’ that is readale and sells for $99 and is…[Read more]

Originally posted by Brett2:
I have heard people talk alot about selling of all their IP’s While the interest rates are climbing and buying when they reach their peak. What does everyone think of this stratergy?

Hi Brett,

Are you confusing prices and interest rates?

Either way this strategy is littered with high hurdles in your path.

Not only…[Read more]

Hi Dom,

Steve Navra is a financial advisor who advocates maximising the use of every dollar 6 ways through rent saved through owning your own home (or part thereof), growth in your own home, rental income from investment property, growth from investment property, dividend income from shares and capital growth from shares.

In a nutshell Steve…[Read more]

Originally posted by Domo:

Quote:
My accountant is suggesting to make my positive geared IP into a negative geared IP so that I can save some tax.

Hi Dom,

Your accountant is looking at things entirely from a taxation angle – that is what accountants are generally employed to do – and if you are paying more tax it also means you are earning…[Read more]

Hi GSSW,

The $750 should be reducing the amount principal amount on your home loan – so this figure should continue to reduce ny $750/month until the loan is either paid out or refinanced.

I am assuming the MISA account effectively operates as an offset account and as this is greater than your home loan it means there is no interest being levied…[Read more]

Hi GSSW,

I am not a broker so take what I say with a grain of salt.

My take on this is that even though your account is not incurring interest you are still required to make minimum payments of $750/month as per your original loan documents.

The upside of this is that the $750 will be all principle and as such you are not paying any interest…[Read more]

Hi Beancounter,

Asking $155K over agents valuation and you feel they are not working had enough – seems to me you want your cake and eat it too.

$155K overpriced is a big ask – so either you want to sell it or you don’t.

Derek
derekjones1@bigpond.com

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

Originally posted by Monopoly:
Emc I too enjoy my beauty pamperings, facials, manicures, pedicures, bikini/leg waxes, etc etc, and for me, they’re worth every cent; I feel (and hopefully to others, look) like a million bucks afterwards!!!

So – is this considered an investment in an asset or a renovation?

Derek
derekjones1@bigpond.com

Property…[Read more]

Hi Blondie,

Congratulations on your first IP – you are now in the game and ahead of all of those wannabes.

Without knowing the ‘ins and outs’ of your financial position or the property I would suggest that you are best served by increasing your equity level as quickly as possible so that you can progress your journey.

You will know if this is…[Read more]

Originally posted by Domo:
While negative gearing is associated with a negative attitude eg I don’t want to pay more tax.

I don’t necessarily agree with this for all negatively geared investors Dom – those that are only focussed on this aspect of their investments will, in the main, make poor decisions as their reason for investing is…[Read more]