Originally posted by Knowitall:
I also offer the estate agent cash if he can get me a cheaper price.

It is illegal to for an agent to receive a payment from the vendor and the buyer. REA are employed to act in the interests of the vendor not the buyer.

This is all a piece of fiction.

Derek
derekjones1@bigpond.com
0409 882 958
Property…[Read more]

Here are some comments that may be of use to you.

https://www.propertyinvesting.com/forum/topic/16406.html

Derek
derekjones1@bigpond.com
0409 882 958
Property investment advice and researched property in quality locations available.

Hi Pinny,

Just because one person says that selling assets is a ‘good thing’ doesn’t make it right for everyone and for every property. While Steve has suggested that people do some ‘selling off’ there are many worldly wise property investors who prefer to invest for the long term.

Without meanign to sound rude or arrogant I would recommend…[Read more]

There are, as far as I am aware, no further developments since ASIC got involved and pending the outcome of those discussions i will lock this thread too.

Derek
derekjones1@bigpond.com
0409 882 958
Property investment advice and researched property in quality locations available.

Hi Pinny,

The critical questions that need answering are what did you want from this property when it became an IP and secondly what would you do with the proceeds of the sale?

I assume that the property is in a large or capital city and there the area has sustainability – in otherwords do not jump at shadows and ride out this patch of herd…[Read more]

See

https://www.propertyinvesting.com/forum/topic/16494.html

Derek
derekjones1@bigpond.com
0409 882 958
Property investment advice and researched property in quality locations available.

Originally posted by Fin:
In previous places I’ve rented it has always been calculated simply by:
Weekly rent is $400.
4 weeks per month = $1,600 per month.

Your landlord is right (although being a little pedantic about the extra little bit) – using your 4weeks/month means there are only 48 weeks in a year and as we know there are 52 weeks in a…[Read more]

Hi Tracka,

I would go direct to the architect and ask if their plans are for sale either through the house owner or through them. Copyright can be a little problematic and I am not sure where the plans stand in terms of copyright.

For me I would consider them in the same category as wedding photos – you pay the photographer and the photographer…[Read more]

These comments were originally posted by ‘Ian From Brisbane’ – I have moved them here and deleted the other repeated thread to keep things orderly.

Derek

Hi!

I don’t know Sydney locations well at all, but from what you’ve said, I’d rather choose a better location than a better building, especially if getting tenants is not going to be an…[Read more]

Hi Dazzling,

If you are talking residential I would agree with PK’s comments.

The irony of it all is that we have to give 60 days notice and the tenant only has to provide a 4 week bond. And the reckon landlords get all the advantages.

Derek
derekjones1@bigpond.com
0409 882 958
Property investment advice and researched property in quality…[Read more]

I recommend Jan Somers & Peter Spann stuff – it all helps you to develop an understanding of property investment.

Some of the stuff will be read more than once (it is in my house anyway) and will prove invaluable in the long run.

Derek
derekjones1@bigpond.com
0409 882 958
Property investment advice and researched property in quality locations…[Read more]

Hi CR,

I prefer to keep things simple – I have an excel spreadsheet that tracks income and outgoings for each property.

Come tax time I take the sheet into my accountant and give him the information.

Derek
derekjones1@bigpond.com
0409 882 958
Property investment advice and researched property in quality locations available.

Originally posted by jcls79:
Well, I’ve got some ideas (with budget of $5K) to increase it to 200/week but want opinions of fellow forum contributors:

1) pave backyard so as to minimize maintenance by tenant?

Negligible benefit for a tenant.

2) replace old A/C unit at each room with central A/C that saves electricity bills

An evaporative unit…[Read more]

Hi Leo,

Just remember land tax is levied on the unimproved value of the land so you need to only look at the land value from a tax issue.

As well as having different ownership structures you can also buy property beyond your state’s boundary. Research threshold levels and various ownership structures and you can minimise land tax.

It is also…[Read more]

Originally posted by Hugo:
Before I read your book I thought negative gearing was great because I did so well from it with my PPOR. It was only after I read your book that I realised you have to make a loss in order to get a tax deduction. I now realise it only worked for me because I bought at the right time and the place appreciated so much in…[Read more]

Try this thread for some thoughts on a range of books.

https://www.propertyinvesting.com/forum/topic/6845.html

Derek
derekjones1@bigpond.com
0409 882 958
Property investment advice and researched property in quality locations available.

Hi Hugo,

I have to agree with Padmaa – why make something more complex than it needs to be.

From a strictly financial situation you would be better off living in your house.

The downside of this arrangement is that your soon to be wife will be the only one eligible for tax relief as it is only her name on the property titles.

The other keep it…[Read more]

Originally posted by aranieri:
I purchased Steve’s first book a couple of months ago and I was suprised at the common sense approach and the 11 second second solution. I felt this was the strength of the book and its property investing philosophy. However, in practice, locating properties using the 11 second formula has ended up in remote mining…[Read more]

Hi Mant,

Just adding my congratulations and a few thoughts – some of which have already been stated but are worth repeating.

Congratulations on your purchase – however I would be wary of throwing all of your hard earned into a single industry town. Without knowing where your property is this may be an irrelevant comment.

The second property may…[Read more]

Use google to find the various calculators that can be found on the web Eg. Victoria Land Tax (etc) and you’ll get the information you seek.

Just be aware that land tax is based on the unimproved land value and not the value of land and building.

Derek
derekjones1@bigpond.com
0409 882 958
Property investment advice and researched property in…[Read more]