Usually 10% deposit from you when the hammer falls and the Auctioneer says sold. Balance within 30 ,60 or 90 days.Get your finance pre-approved so you know what you can borrow up to and also what is your absolute maximum you can bid at the auction without getting into trouble due to finance.Ask the real estate agent for a copy of the contract and…[Read more]

As Elka stated "Does your question relate to a specific situation ?"Possible situations .Situation one:You have a property with heaps of equity but you do not have any cash for a deposit for the next property purchase.Solution one.:             Borrow money from house one as line of credit and avoid cross colaterisation.Pros – You now have money…[Read more]

get it from the sourcehttp://www.ato.gov.au/content/downloads/IND00133187n17290608.pdf page 15http://www.ato.gov.au/taxprofessionals/content.asp?doc=/Content/44609.htmworking out effective life of assethttp://www.ato.gov.au/individuals/content.asp?doc=/Content/25229.htm<$300 immediate…[Read more]

Yes. What might be a consideration is if the mining company has future plans to mine the land under the building.You need to know the term of the lease. They are 99 years to 999 years and can be less due to remaining time left.I know the power companies that mine coal in Victoria lease the surrounding land to farmer so they can mine the coal when…[Read more]

I am learning how to install and use Linux as I too am not happy with VISTA either. Linux ubuntu distribution comes with Firefox

To protect against this press the CTRL and the A key      and then CTRL and C key on keyboard and then select submitif you lose it you can  then CTRL and V key to paste it back in.

Because it is a company the 50% discount doesn't apply for owning it for over twelve months.As it is owned by a company your company would pay 30% tax on the $280,000 – $185,000 = 95,000 * 30% = $28,500 in the company tax return.$280,000 – 28,500 tax – 150,000 debt = $ 101,500 proceedsYou need to hold on to some of the proceeds say $30,000 to…[Read more]

Please accept my deepest apologies Tim.Duck

You may have to pay a congestion tax – Melbourne was considering implementing this for inner CBD car parks.Being Commercial you probably have to charge GST on the rent.Also there may be management fees for maintaining staff and toilets, Lifts, ectHard to resell is another problem.

The investor does receive a tax deduction however the investor may not be eligible for the first home owners grant as they may already own property. Also if the investor sells the investment property  they pay capital gains tax which the non investor doesn't pay due to the PPOR exemption. If the investor owns a lot of land in one state they also…[Read more]

Usually you have to pay for a marketing campaign – advertising costs – Hiring furniture for open inspectionsIf you are using a real estate agent you have to pay a certain amount of sales commission as a percentage of the sales price.Another cost is the holding costs possible incurred – being the loan interest while you are waiting for council…[Read more]

The reason for the LOC is to have a clear separation between your personal use (PPOR) mortgage and your investment loan for the deposit for tax purposes.  Also you can borrow the rest of the loan from another bank and then pay back the LOC and if you need to borrow it again it is easier to access the line of credit already established even if you…[Read more]

I would work on the figuresWhat  is rent  going to cost , What the likely cost of investment loan each week, what is the cost of  rates, insurance, ect each weekWhat is the likely rental income each week.Can you get a rental property to rent  to  live  in . This may be a harder task than you are aware of due to low vacancy rates.Work on the cash…[Read more]

Are you claiming building write down depreciation for the new property as for an example $345,000 building costs * 2.5% =  $165  a week depreciation benefit plus depreciation for fittings in the house. A good quantity surveyor would work this out for you. The building write off will increase the capital gains tax in the future but it might help y…[Read more]

You need to look at what the strata fees will be each year as this might bite into your income stream. The other worry could be that there is an over supply of serviced apartments in the CBD making it hard to sell in the future.Lenders can refuse to lend due to the lender lending too much already to this building this is known as over exposure by…[Read more]

Not an easy question to answerAre you planning to rent out the property?(yes to paying CGT) but if you are then you can't claim the cost of the reno , holding costs, borrowing costs on to the cost base and thus reduce cgt.Are you planning on living in the house?(maybe no to paying CGT) as CGT ppor /main dewelling exemption could applyAre you…[Read more]

Unfortunately the growth type seminars only occur just before or at the start of a property boom and the market at the moment is not in a growth stage. I did a seminar with Peter Spann that was a growth strategy that didn't require you to buy over inflated priced property from Peter. For a cheaper option . You could buy Peter Spann's books From…[Read more]

It really depends on your age and financial situation. Like do you live in your own home ?. Are you planning on having kids ? Are you planning on retiring through investment – what is your time frame?Do you like having lots of debt (negative gearing) or are you happier with less debt (positive gearing)?Do you like working  ?

unfortunately the law favors the tenant rather than the landlord. This is why your property manager should have started eviction proceedings as soon as the tenant was behind by 4 weeks to minimize your lost rent. Hopefully you took out Landlord s insurance to cover this loss of rent and any possible deliberate damage that may be caused by the…[Read more]

I did have a share market portfolio but sold it off at a loss in September rather than now in October at a much bigger loss. I then used the proceeds to reduce my debt down on my investment property  I am expecting the share market to continue falling until the all ordinary index reaches its long term growth trend. I think people will still lose…[Read more]