First thing – Welcome to the forumWell what you need to do is get your finances in order.What I mean is do not go out and buy the most expensive car brand new on finance and after spending five years paying it off you have a car with the value of about one fifth what it originally cost you. Or buy a 3d television, ectI would recommend buying books…[Read more]

If there was a bond it is in a special trust account that is used to hold the bond. So it needs to be assigned to you as an interested personThe tenant may leave if the property has been sold . They sometimes do that not realising the new owner wants to rent the property. If the property is rented through a property manager contact the property…[Read more]

It is very hard to change the structure once you have purchased a property without incurring stamp duty and capital gains tax.I was in a similar situation and sold my negatively geared property and had to kick a tenant out as negative gearing also affects centre link and  family office payments as they deem the lose as income to work out your…[Read more]

A joint venture or finding a money partner is a possible option.

Was the subdivision already done when you purchased the investment or did you sub divide it.If you sub divided it you need to work out the vacant land value originally so you can work out the capital gains implications of selling the vacant land. Also you need to factor in holding costs if no rental income has come from the vacant land as this can…[Read more]

Welcome to the forum Megsy35

Megsy35 wrote:
Hi, I'm new to all of this and would like an opinion on our current situation. We live in the suburbs, have a small mortgage on our current residential property. Can we then negatively gear the suburban residence?

No !You stated you have a small mortgage against this property. If you rent out the…[Read more]

I was told that banks do not like to lend to trusts. However a company owned by a trust can borrow, however the director goes guarantor for the company loan, which you would have to declare to another bank that as a director you have guaranteed a loan for .company XYZ. And with these new credit laws you have to prove you can afford the loans/

I think the problem lies with the council requirements.Like for exampleMinimum distance from street frontageMinimum driveway wide for common propertyMinimum land space for each dwelling for recreation rather than buildingWhere is the sewerage going  to run from the dwellings – uphill doesn't work !Stormwater where does it go ?Turning circles for…[Read more]

What is your goal for property investing.Is your goal to get a small tax refund through negative gearing ?Is it to increase your income through positive gearing ? (this might apply if house one has a low loan)If you rent out your Main residence you need to get it valued or deem it to remain your main residence through applying the six year CGT…[Read more]

Steelar,Give these a look over.http://www.buymyplace.com.au/http://www.dwelling.com.au/selling/http://www.buyitprivately.com.au/Home/http://www.propertynow.com.au/http://www.refrealestate.com.au/for-sale-by-owner.htmhttp://www.owner.com.au/seller_handbook/the_basics.cfmhttp://www.sellhousenow.com.au/http://www.diysell.com.au/

You can either get the property valued when you move in and have a record of what the sell price was when you moved in.As you have moved in you actually create a capital gains event by changing from investment to main residence.The valuation is one method and gives you a record. THe main thing is to keep records for the life of the asset !The…[Read more]

Provide a statement at the end of the financial year that lists income and dispersments.Renew the lease before it expiresIf the tenant has not paid the rent send them and landlord a letter stating that eviction will commence in 14 days if payment not received.Looked at web site code. You need to change the meta name description from home to your…[Read more]

Amanda,I suggest you ring a few insurance companies or insurance brokers and state that you need building and contents insurance with no one living full time in the house due to it being renovated. A lot of insurers won't insure if no one is living in the house. I have used land lords insurance to cover this but it is the building that is i…[Read more]

1. Paying off debt faster will reduce your LVR loan to value ratio which means you can either borrow against equity you have built up or cross secure two properties together for one big loan and get a lower LVR across the two properties (not recommended to cross secure as if you sell one property you have security problems with the lender and you…[Read more]

Does it have built in wardrobes ?Make sure the toilet has been flushed as it may contain the contents of the last person who used it during last open day.The advert states secure car parking does it have parking in the back yard or garage or carport? does front lawn still  have a bald spot of grass at 45 degree angle to front driveway ? Maybe…[Read more]

Go to a good solicitor and get a defacto financial agreement that states how much you own of your property before you have your partner move in.This would protect both your financial interests.Your Partner could then sell  his property and use this for a deposit . With what is left over you could buy an investment property with a good deposit in…[Read more]

If I was you I would hang onto the house if it is not in the way and rent it out to help cover holding costs. Then apply for sub division as this will take some time to get approved by council. Also when you subdivide the bank will not be happy that the land value has decreased by 66% on the secured loan. You will have to talk to the bank and most…[Read more]

You need to build a team of experts as you can't do everything.Private Town PlannerArchitectBuilderLandscaperAnd then you know what costs are going to be incurred before you even buy the property so you will know if you are going to make a profit or a loss. Also you have to allow for unforeseen cost blowouts. I have not started developing yet.But…[Read more]

http://www.rookiedeveloper.com.au/deal_cruncher.html

Take a look at this one

However you still have to do research on what it costs to sub divide, construction costs, ect

You may want to consider the d-day course also

http://www.rookiedeveloper.com.au/deal_cruncher.htmlTake a look at this one However you still have to do research on what it costs to sub divide, construction costs, ectYou may want to consider the d-day course also