Hi Dab,

If you grab yourself an accountant with property experience they will be able to provide guidance and assistance with the tax aspects of your journey. A word of caution some accountant are very negative gearing focussed and they see saving lots of tax as a great thing. In reality if you are saving a lot of taxing you are often outlaying a…[Read more]

Any expenses will be deductible for the period of time the property was tenanted.

Hi Donna,

Only you can determine whether or not a NRAS property suits you and your portfolio.

For me make sure the property stacks up without any NRAS benefits. That is, is it priced fairly in comparison to similar properties in the area, does it tick the infrastructure/location boxes required for good property, is there a demand for such…[Read more]

Hasn't she already done that?

Wasn't there a recent announcement to do with NDIS administration/centre being based in Geelong?

Things have slowed down.

Given we were running on all cylinders + a couple borrowed from other states a 'slow down' was probably inevitable. 

Mind you some figures will be reviewed upwards/downwards/sideways (you choose) over the coming months when more detailed analysis will be done.

I notice Commsec had WA GROWING by 7.6% during the last…[Read more]

Hi Dab,

Coaches, in my opinion, are over-rated. What is it that you want from your 'coach'?

Sounds like you have done a fair bit of thinking and that will place you pretty well for ongoing success. See if you can refine your thinking even further and you'll be almost able to drive yourself.

If you let us know which coaches you have identified…[Read more]

And the response from Federal Treasury.

http://au.news.yahoo.com/thewest/a/-/newshome/17499555/wa-not-in-recession-treasury/

My head hurts!

Hi Phoebe,

Amended R Codes come into effect in WA from 2nd of August this year.

Media piece – http://www.watoday.com.au/wa-news/the-rise-and-rise-of-the-granny-flat-20130501-2it7s.html

Another media piece – http://www.abc.net.au/news/2013-06-03/changes-to-wa-planning-code/4730278

And another one -…[Read more]

Hi Tanner,

Re: Commonwealth Games Effect.

Not convinced the Commonwealth Games will do much for the GC property market.

The event itself is only 2 weeks (or so) so those seeking accommodation only do so for a relatively short period of time, particularly in property terms. Any upswing will be created by construction and as I understand it the…[Read more]

As Scott has said the bypass solution does not work for all towns. For Berri, it could go either way.

From memory Berri is that type of town you would deliberately drive to so you could appreciate all that it had to offer. The question is would the loss of much of the passing traffic be outweighed by a desire to go to Berri.

Geez – that news came out of nowhere.

As Tom has said it will be interested (or not) to see what the knock-on effect will be across the country and what response we get from the state government who, I might add seem to have been quiet with this piece of news.

As for real estate – might mean some of the heat gets taken out of the market and we…[Read more]

Hi PDimi,

You haven't placed any restrictions on your initial question so I am assuming everything is on the table.

Not convinced the property market is poised for a surge – methinks more of the steady cyclical market type movements.

Have you considered looking at strategies which allow you to add value (capital growth). By extension the same…[Read more]

Hi Kser,

What sort of price and rent are you looking at?

Sometimes projects like this can have higher than normal body corporate costs, particularly if there is a lot of common property to maintain. 

Location wise the project ticks a few boxes.

Hi Dadul,

Remaining focussed when first starting out is often the hardest task – clearly you have managed to overcome this and your approach is admirable.

Have you spoken with a broker who will crunch your numbers to see how much you can borrow today?

With recent interest rates drops you may well find your capacity to borrow has improved too -…[Read more]

Hi KoL,

As I understand it any capital gains liability is determined by the date you sign contracts and not settlement date. 

I did find one source consistent with my understanding – check out this link

Note – I am not an accountant so double check this & as Jamie said make sure you speak with an accountant to determine which is the best option…[Read more]

Jay Sizzle wrote:
Either way, the agent has asked me for what the figure the valuer gave us on several occasions – which I have not done.

Don't understand why you wouldn't show the valuers figure. Think it through.

You want the place.
You have paid for a valuation.
The valuation has come in below vendors price & at a price you are prepared…[Read more]

Make sure you seek good taxation advice before you sell – there will be CGT and GST issues you will need to consider.

These two issues will erode your projected equity profits if not managed carefully.

Hi Cameltoad,

We do JVs in Perth and buy our blocks through agents.

The agents flick us numerous properties and many do not make the grade and the delete button gets a fair workout. I would suggest you speak to an active local REA anyway and just listen to what they are saying.

Not sure where your block is located,  what the current zoning is…[Read more]

Hi Jeremiah,

You need to have a budget too – have you seen a broker to establish your borrowing capacity?

No point using the process you have outlined if the suburbs identified are outside your budget limit.

Also look at where government and investment money is going to improve infrastructure. I have heard of people following Coles, Woolies,…[Read more]

Hi Kirsty,

No worries – understand the logic behind your decision.

If the situation changes and you want to revisit the PAYG option don't hesitate to drop me a PM. The offer stands.

Cheers