Is the property you already own in joint names. If it is this can cause problems if the LOC is in one joint owners name while the equity is owned by two owners. I had to go to a solicitor and have the implications of this explained to me.Although a LOC would seem to be fair if it gave you usually up to 80% LVR this requires the bank to value the…[Read more]

Another option is to install a heat pump replacement hot water system.which has a federal gov rebate of $1000 towards the cost of installation.

Air conditioner and wardrobe is an improvement. You can claim depreciation over the effective life of each item.As long as the property is available to rent (ATO wording) on the rental market you have an investment property that you can claim depreciation on.Because you are improving the property beyond what condition you purchased it in it is an…[Read more]

Get an electrician to check the wiring.The best electricians I find are in the local paper and they like doing small jobs where as yellow pages electrician are too busy to look at a small job I had a light doing this and it was found to be rats had eaten the power cable between the light switch and the light in the actual wall. Rats seem to like…[Read more]

The rental income you earn is regarded as income so when you fill in your tax return you fill in a section called Net Property Income / Loss

If the Net property income is positive you pay tax on it

If the Net property income is negative it is subtracted from your other assessable PAYE income (WAGE and extra earnings)and then you will have less…[Read more]

The rental income you earn is regarded as income so when you fill in your tax return you fill in a section calledNet Property Income / LossIf the Net property income is positive you pay tax on itIf the Net property income is negative it is subtracted from your other assessable PAYE income (WAGE and extra earnings)and then you will have less…[Read more]

Development is not an easy starting point for a beginner. What are you going to sell it for. The market determines the selling price. If you go over costs you can make a loss.Do you have a team of professionals. Do you have a plan drawn up. Do you have an Architect, Builder, Solicitor , ectWould suggest reading some books of development of…[Read more]

karen. wrote:
I wouldnt be considering this is we weren't positive if we wanted to keep this house long term or not.  Alot of things changed in our plan when we discovered I am pregnant again.We have never sold a property before so are unsure how much $ we would actually walk away with.Details:- prop jointly owned 50:50 between me and my…[Read more]

I know of a person who had built a home like this in the late 80's and used old wooden power poles he had acquired from somewhere that I can't remember.

I am not concerned at all. I do not care if no one takes a closer look at this sub division or does. Its information that someone may find useful.I am very familiar with the background of this area so I know it is a once in a life time sub division. They will most likely not be allowed in the future to release any more land via sub dividing the…[Read more]

Welcome to the forum !What you have to be aware of is that with investment property it doesn't have to be in darwin necessarily. It seems from what I saw that Darwin is quite expensive if you buy a house.You may need to look else where as stamp duty has to be paid if you buy a house and mortgage insurance.$18,000 based at 90% LVR is $180,000Most…[Read more]

due to being able to nominate the PPOR for CGT exemption even if you are using it as an IP as long as you do not have another PPOR that is being claimed for CGT exemption at the same time.http://www.ato.gov.au/individuals/content.asp?doc=/content/36887.htmI am not sure if you are able to claim interest costs, expenses incurred as tax deductions in…[Read more]

Neil gives talks at the active property investment meetings in North Blackburn the next meeting is on Monday 1 FEB 2010seehttps://www.propertyinvesting.com/forums/property-investing/general-property/4330579

Hire a quantity surveyor . Not sure on the garden but Painting, Kitchen Appliances, Curtains, Ect can be depreciated but knowing the effective life of each item is difficult thats why a quantity surveyor is good as they work it all out and hand you a depreciation schedule that you hand to your accountant.easier do do without a tenant as getting…[Read more]

you need to decide which property you want to have the main dwelling capital gains tax exemption. As you can have the original property as your main dwelling for 6 years after you stop living in it. But you can't do it to two or more properties at once. If you move out and do not keep the CGT exemption on it you need to get a valuation done to…[Read more]

What you are after is referred to as no doc loanhttp://www.canstar.com.au/interest-rate-comparison/compare-low-doc-home-loan-rates.html.But  I am not sure what LVR you can get.http://www.echoice.com.au/mortgage/home_loans?pn=/info/home_loan_types/no_doc_home_loan.htmlbut sometimes they are referred to as low docsee…[Read more]

This gives more explanation of what it means.http://www.accreditedbroker.com.au/debt-servicing-ratio-and-surplus-income.html

I have seen a shower in a holiday house I stayed in that has a deeper base so it acts as a shower but also can act as a shallow bath for young children.Don't know where you get a shower like this though. Other possiblity is a shower in a bigger bath.

maviblue wrote:
Hi all The recent a post prompted me to ask the following… (post: https://www.propertyinvesting.com/forums/property-investing/help-needed/4330490?highlight=PPOR%2Cto%2CIP) Can I claim the interest expense on the whole loan(s) when I convert my PPOR into an IP when I also use some of the equity as a deposit for another IP?…[Read more]

Yes It is known as claw back of commission                                However Look into whether any lenders on your mortgage brokers panel support loan portability This allows you to transfer the security of the loan when you sell to the next home purchase – the next reno project via transferring the security rather than ending the loan and sav…[Read more]