Hi Kaloni,

I too would recommend an excel spreadsheet – cheap, simple and easy to use.

Irrespective of which program you use the key is ensuring you maintain your records as the invoices and rental statements come in. This way you do not have an onerous task in front of you at the end of the financial year.

You are now running a ‘business’ and…[Read more]

Hi all,

Have just received a Perth property comment. Anyone want a copy then drop me an email and I’ll happily forward you a copy.

Derek

derekjones1@bigpond.com

Hi Chefman,

I understand where you are coming from. I like to control as much of my own destiny as possible and that is why I contact and pay directly for the valuation myself as I like to know the valuer has looked after me – rather than the bank.

For example I recently got some revaluations done so that at best I can buy something else or at…[Read more]

Originally posted by melbear:
The ‘sting’ I believe is that any building depreciation you claim over the term of your ownership, is deducted from your cost base when selling, so you pay CGT on this cost.

Cheers
Mel

That is the ‘depreciation sting’. Like Mel I prefer today’s $$ in today’s pocket – and the CGT bill can be offset at time of sale…[Read more]

Originally posted by MortgageHunter:

There have been a few occassions when I have accidently left this valuation where a client can catch a glimpse of it…..

Simon Macks

Gee – that’s very clumsy of you Simon []

Derek

derekjones1@bigpond.com

Hi Redwing,

The process I use is to get ’em in and sign the dotted line and bugger the fine print.

But in all seriousness – it must be said from the outset (while wearing my suit of armour) the Club advocates a long term, growth based approach, which is the antithesis of Steve’s cashflow approach. But hey each to their own.

I spend a great deal…[Read more]

Hi David,

The only point I would add to Simon’s comments is that a bank (and it’s staff) are hamstrung by their lending rules. These differ from bank to bank and as such you may find that you run into a ‘brick wall’, for a whole variety of reasons, earlier than otherwise may have been the case with another lender.

I would also recommend you…[Read more]

Hi Redwing,

My figures were about a ‘quarter’ out and I noticed The West (7/2/04) indicated vacancy rate had dropped from 4.5% in September to 3.8% in December.

Highest vacancy rate in the metro area (Dec 03 quarter) was 5.1% Perth Central down to 1.4% in Armadale.

Derek

derekjones1@bigpond.com

Hi all,

An interesting thread – and as often is the case there are some divergent thoughts being posted – makes for an interesting world. Apologies in advance for the long post but I am trying to cover a fair bit of territory here.

Please note – I am a Support Member with The Investors Club so disclaimers apply and I have no intention of ‘adve…[Read more]

Hi KB,

Hmmm – an interesting dilemma and one that many people are faced with from time to time. At least you have made steps to achieve your goal.

I wonder if you and the family have ever sat down and truly discussed what is important to you all. It is possible that what your family is currently doing is working against some of your goals. If…[Read more]

Hi David,

WA has a very centralised population base with 1.5M+ living in the Perth metropolitan area (inc Mandurah). The next biggest towns (Kalgoorlie, Bunbury, Geraldton, Albany, Busselton) each have 20K+ (but no more than 35K people. You then move into the 10k to 20k towns of Collie, Esperance, Broome and Karratha. Thereafter you are starting…[Read more]

Hi David,

In addition to the ‘generic’ sites already mentioned many REA also have their own website which often includes properties not listed above.

The state based real estate institutions http://www.reiwa.com.au and http://www.reiq.com.au host their own websites with links to member REA. I am sure Real Estate Institutes in other states do something…[Read more]

Hi David,

Congratulations on wanting to create your own destiny – the challenge is for you to move from the ‘wanting’ to the ‘doing’ phase of your journey.

Asking questions is a good step and I would also recommend you do some additional reading to develop a more ’rounded’ picture of property investment as there are other ways to invest that may…[Read more]

Hi Karan’s Friend,

“i have a really annoying problem which i’m sure a lot of you face!!! ok, i have no investment properties, only my PPoR. I have just started a new job in the highest tax bracket!!!
is there any way i can avoid soooooo much TAX???
This tax man is killing me, so please help me before I am buried!!!”

“what i forgot to mention…[Read more]

Hi Penguin,

My recommend is;

1. Learn as much as you can about investing but set yourself a timeline to do something.
2. While learning start to clarify your goals and preferred style of investing.
3. Ask lots of questions to further clarify what you want to do and how.
4. Determine borrowing potential and buying capacity. (You may not be…[Read more]

Hi Fixit,

Some thoughts for you to consider.
1. How long have Harvard been in business?
2. How many investment properties does your ‘consultant’ own?
3. How long has your consultant been investing?
4. How does your ‘consultant’ earn their money?
5. What will they get out of each and every purchase?
6. What service do they offer?
7. How much does…[Read more]

Hi Itsamoorey,

Your investment team need not be located in the local area.

Sure you may find an ‘expert’ in your local area but with modern technology and communication infrastructure it isn’t essential to do a face to face all of the time.

Don’t restrict yourself unnecessarily.

Derek
derekjones@bigpond.com

You will be of use to someone in the future and even by asking questions you add to someone’s learning experiences.

The silliest questions are those not asked.

Derek

derekjones@bigpond.com

Hi all,

Bear in mind that many (all?) QS had made common interpretations based on a previous ruling TR 2000/18 and used this ruling to guide their depreciation claims contained iwthin their reports.

It was a tribunal decision that overruled the previous ruling (Woodward Case) relating to the classification of switchboards, kitchen cupboards…[Read more]

Hi all,

Having some knowledge of Norseman – I wouldn’t recommend this particular property as it defies the most basic investment property rule “never buy the best house in the street”

But seriously Norseman is a single industry town and relies very heavily on the mine there, the Aboriginal support ‘industry’, has a number of tensions in the town…[Read more]