[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

May 25, 2016 - 3:22 pm

Chris Units, apartments, townhouses etc rely on property prices increasing. From my experience (30 years) these types of properties appreciate very slowly compared to houses unless they have something unique ie near the beach, large size rooms, large private open space, etc. But they are generally less effort to manage.
Buying a house with land that could be developed in the future (dual occ or multi-units) will see better returns in the long run.
A good strategy is buy a house that has development potential, claim PPOR for less stamp duty, live in it for 12 months or so, then move out and treat it as an investment property, then look at developing it. By doing this there is the advantage that if you sell within six years there is no CGT on the original house. Other suburbs to consider are Seaford, Noble Park North and North Dandenong.

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

April 14, 2008 - 6:31 am

From my limited observations property prices have not seen the escalations similar to Aust. Appartments and condo living is very common in KL and Penang and prices have risen marginally.  I think props with land have the greatest potential to rise.

However,  t he Malaysian gov introduced the Malaysia my second home scheme to encourage foreigners to buy property, live there and spend their cash.There are some concessions too.  Do a google search "malaysia my second home".  If you like the tropical climate, diverse cultures, friendly people, and very cheap living then its worth considering for retirees/ semi-retirees. For these reasons  I am considering buying a property in Penang or Butterworth and spending some time there.  

  

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

December 8, 2005 - 7:21 am

Hi,

Perhaps u need to decrease the cash required. Have u considered:depreciation, increasing the rent, decreasing other costs, refinancing.

The thought of loosing $15K would hurt, but as you said the unit is in a relatively good capitol growth area so u need time to increase the value.

hrm

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

December 7, 2005 - 6:27 am

26,

Outgoings are rates, insurance, water, body corporate ie. all the thing u normally pay with residental.

u need to check out the lease to make sure they are paid by the tennat.

As the prop is a going concern (has a tennant), my understanding is that GST is not applicable for the purchase. If u are registerd for GST ( u must register if income is above $55K I think) then u charge the tennant GST the u do the quarterly BAS return and pay the $ to the ATO.

There are probably are issues that u should discuss with your accountant. Get their advice before acting.

Other issues:
The return appear very good.

How secure is the tennant? Is his business successful?

The Increase PA of 5% appears gennerous.

Good luck.

hrm

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

November 29, 2005 - 6:21 am

“Dazzling” a new perfume so says my wife and it’s not gross!!!

hrm

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

November 29, 2005 - 4:33 am

Hi David,

I think that you have half of the formula: you’ve worked out what prices the house configurations could fetch….why not use the same source to get unit prices, ( or talk to local REs) then

Go see the local council and see if dual occ is feasible.

hrm

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

November 15, 2005 - 11:20 pm

Hi,

I think u can get the info from the State Revenue Office under Vic Gov web site. U can get a copy of title for a fee (less than $30 i think)from their website. U could have the info in minutes.

Good luck.

hrm

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

October 5, 2005 - 5:03 am

Hi Karlm,

Do a search on this forum, you’ll find some threads on DHA.

hrm

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

October 5, 2005 - 4:03 am

Hi,

I understand your concerns when buying some distance away. I have bought several properties sight unseen by using people I can trust: people who live near by, RE agents, building inspectors, etc, or recommendations from friends or people on this forum.

A good property manager is essential for sound sleeping at nite.

hrm

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

October 5, 2005 - 3:05 am

Hi Loanwolf,

You could search the RE sites on the net to give you prices of whats for sale, and some RE sites show past sales info too. You could do this for one and two bedders.

hrm

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

October 5, 2005 - 2:51 am

Hi,

Have you considered units in the Brisbane CBD. I think there may be some good buys.

hrm

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

October 5, 2005 - 2:47 am

Steve,

Cool looking house.

From the pics it would appear the the garage was converted in to the flat!

I would convert the flat back to a garage if possible and give the place a good lick of paint. This should be less than $10K, and
for a modern look what about rendering the front?

Other option: do the garage and lick of paint and possibly render, then rent out for a bit more $, revalue, refinance, then find another.

Consider the sell costs, CGT, refinancing costs, purchase costs etc.

hrm

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

October 3, 2005 - 2:06 am

Hi Celevia,

I have a dual key unit in Spring Hill, Brisbane. A dual key unit is basically two studio appartments with their own front door. I bought them as apair.

These unit were targeted for corporate customers on short leases. They are fully furnished. I purchased them for $330K, and they rent for $280 each per week.

Over the two years of ownership I have had about 14 weeks vacancy for the pair.

I assess that my property manager does an excellent job in getting the right tennant as replacement / repair costs have been low in comparison to a unit i had at the Gold Coast catering for uni students.

Lots of depreciation too.

hrm

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

October 3, 2005 - 1:37 am

Hi,

I too get regular alerts from Domain and others.

I have noted lately that they are using emotive (e.g realisation sale etc.)words to get our attention.

I don’t think there is anything wrong with the word liquidation.

hrm

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

October 3, 2005 - 12:54 am

Hi Bradshaw,

I think you and the wlfe are in a fantastic financial position.

Your super payments from 2011 looks great and you will have substantial equity in your properties too.

I concur with KP’s comments.

I would suggest that you seek advice from some Financial Advisors.

Good luck.

hrm

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

September 29, 2005 - 9:49 pm

Hi Skyboy,

I’m one for claiming all the depreciation I can.

This helps the cash flow but when you sell the amount of depreciation claimed on the property over the years is deducted from the original purchase costs to give your base cost for CGT calculations.

I think its better to take the deductions when you can (now) as the rules could change at any time.

hrm

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

September 26, 2005 - 3:53 am

Hi,

I had a creative tennant in my Maribyrong townhouse who attempted to convert the tandem garage into a bedroom.

Checked with local council who advide that it’s a no no due to building regs, insurance etc.

hrm

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

September 26, 2005 - 3:27 am

I agree that we should look after the tennant.

They are the backbones of our investments same as employees at work.

I treat all people as equals till they prove differently , no matter their colour, race , religion etc just like my staffie (he will lick anyone to death).

There will always be some scum bags around but they are a very small percentage.

Go on give your tennants something they never expected. It doesn’t cost much per year!!

Cheers, roll on Christmas!!!!!!

hrm

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

September 26, 2005 - 3:09 am

Ubique,

You have received several suggestions for the first property, but your responces do not appear to have covered any suggestions given, and

NOW you are jumping to another fire!!

No wonder you haven’t received any responces to your latest post.

We are here to help, but you gotta help yourself.

hrm

[hmackayParticipant@hmackayJoin Date: 2004Post Count: 197]

September 26, 2005 - 2:57 am

Originally posted by ozsparky200319117:

Hi Mortgage Hunter

I don’t think hmckay realises his wife & kids are a needless luxury! LOL

Sparky

Sparky,

I could be offended by the above.

Could you please expalain what you mean?

hrm