Originally posted by marliw:
Boy I’m really envious that you are only 25 and know about forming a trust structure – how do I do that by myself and is it complicated/cost much?
Marli

Suggest you grab a copy of Dale Gatherum-Goss’ ‘Trust Magic’ for about $99 it will get you started in the right direction.

http://www.gatherumgoss.com

Dale is based in…[Read more]

Hi TA,

I am sure you have done this already but the Foreign Investment Review Board is the government body that polices such purchases.

Check their website out for some more information. There are a number of downloadable forms that may be of use to you.

http://www.firb.gov.au/content/real_estate.asp

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

Hi MLV,

I assume Simon is taking an Easter Break and is on holidays.

As I understand it ASIC and Derivex are still in discussions (I do stand to be corrected) and my take on this is the longer the ‘discussions’ go on the less chance there is that Derivex will be able to market the loans.

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

Hi Mike,

Certainly speeds up the process as it maximises the returns on the assets you own either partially or outright.

If you were saving cash for a deposit you only get to ‘save’ that part of the dollar that has been left after the ATO and your spending hanits have taken their little chunk.

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

<u><i>Originally posted by ian_from_brisbane:</i></u>
And yes it is up on a hill just a short walk to the water’s edge.

No that isn’t a hill – that is the reef at low tide[biggrin]

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

Originally posted by ian_from_brisbane:
And yes it is up on a hill just a short walk to the water’s edge.

No that isn’t a hill – that is the reef at low tide[biggrin]

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

Originally posted by Ambo72:
On reading back on what I said originally, I forgot to mention that we actually had a contract for $175 which we had signed.

I assume you were the only party that signed the contract.

If this is the case and the vendor is yet to sign the contract it still means ‘diddly squat’ – a contract only becomes binding when…[Read more]

Originally posted by Ambo72:
We have had a house under contract for about 3 months,

The house is on the market for $185 K, but the vendor verbally accepted 175 000 on a 60 day settlement

The issue is, that we have just returned from holidays to find a contract in the mail,

Hi Ian,

I stand by my comments that you have let yourself down – there…[Read more]

Hi Bonnie,

From the WA tenancies Act.

42. Owner’s responsibility for cleanliness and repairs
(1) It is a term of every agreement that the owner —
(a) shall provide the premises in a reasonable state of cleanliness;
(b) shall provide and maintain the premises in a reasonable state of repair having regard to their age, character and prospecti…[Read more]

Hi Crusader,

The WA REA Tenancies Act is downloadable – forgot the weblink.

As Kay said this experience is the price of DIY property management. For me I prefer to let PMs do their job – I just manage them closely.

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

Originally posted by tancas:
I am thinking of selling my current PPOR.

I am wondering if we have to pay capital gains tax and on what amount – the sale price minus the original purchase price or the sale price minus the amount owing to the bank?

If the property is your PPOR it is CGT free – plain and simple.

In your case it would seem that you…[Read more]

Hi Ambo,

The agent is conning you and you have let yourself down too.

From your post you indicated that the vendor accepted a verbal offer. As you haven’t got anything in writing (until now) you weren’t even in the door. The agent and vendor were dangling a carrot while they sorted out the ‘issue’

Grab the contract – write your offer up at a…[Read more]

Hi Chincho,

From a servicing and equity issue the information you have provided is somewhat limited and as such it is difficult to accurately determine whether or not you have the capacity to borrow additional funds.

Even if you could I would question whether or not it is the right course of action anyway. By your own admission you cannot save…[Read more]

Hi Conley,

Give Patrick Thatcher a call. He is based in Subiaco and can be contacted on 93809533.

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

Originally posted by Mortgage Hunter:
There is no simple answer to this.

Work out your goals and devise a strategy then get to work is my advice!

Also be mindful of your budgetary limitations – I would also buy as well as I could as close to the city where long term history is on your side.

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

Originally posted by holo:
I have been toying with the idea of increasing the investment property loan to reduce the non deductible debt of our own home loan.

This strategy in itself will not reduce your non-deductible debt as the ATO will consider the redraw from your IP as being a new loan and as it is being used to pay down your home loan…[Read more]

Hi Marisa,

We just sold some full turnkey H and L in Merriwa. Estimations are that the rental returns will start around 4.5%+ and rental demand is strong in the area. Given that the purchasers are seeking growth the rent return is of secondary consideration.

We managed to secure land for less than the $150K you are looking…[Read more]

HI Cutegirl,

If you are going to be a successful property investor you need to approach paperwork with a ‘professional approach’.

Ensure all pieces of paper are filed appropriately, keep full and detailed records for the required number of years and engage a savvy accountant who will ensure you push the envelope while remaining within the ATO…[Read more]

Hi Steady,

Give Ed Chan a call http://www.chan-naylor.com.au

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

Hi Mcdirt,

Agreeing with PK – get three or four agents to quote the expected selling price. And while they are doing that get them to detail their sales plan and costs.

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