Hi, we’re moving to Phoenix in April but have numbers of contacts over there and could put you onto some realtor friends of ours. Private Post me if you’d like us to make contact on your behalf.

Mick
http://www.propertyinvestingusa.com

Jessica, as well as CGT there will be GST payable on the sale of the new properties. To offset that if you are registered for GST you can claim back all GST on payments made. You'll need to speak to your accountant about all this. Be prepared for lots of stretching on your investing journey!

We’re Aussies and have just completed and sold our first “fix & flip” and let me say our rehab was not half hearted. A new roof, an addition (room) totally rebuilt, new doors and windows, new wiring and plumbing, new kitchen and bathrooms, new flooring throughout, new stucco (rendering) swimming pool restored, resurfaced, in short not much was not…[Read more]

Mark, we have a couple of different Trusts and they work really well for us. Before you get too far into it realise that in NSW and Victoria Trusts don’t have any Land Tax thresholds so IP’s owned by Trusts automatically incur land tax bills unless it is a Corporate Trust. Yhis is something we discovered after receiving our first $2.5k land tax…[Read more]

Steve’s USA Power Pack contains some great information in regard to taxation but as always you need to discuss this with your accountant. Forget it being U.S. income, it’s just Foreign income and your accountant should be able to clarify this for you.

Again, check with your accountant as they are the tax experts! Trusts do not pay tax but all profits need to be distributed each year to the Trust’s beneficiaries and then they are liable for income tax on the amounts received. Put simply, any money given to the beneficiaries by the Trust is added to your income and then taxable at the applicable…[Read more]

I believe we will see an interest rate drop next month of at least .25% and another the month after. The RBA will finally see they have been living in lala land and maybe even Julia and Wayne will see our economy, the real economy (not resources) is in a very bad way. This being the case, over time people will feel freer to spend and things may…[Read more]

I’m of the opinion the RBA raised rates too much too quickly. Remember pre GFC when the rest of the world were reducing rates our RB increased them again by .25%! I do agree it does leave us room to move if another crisis occurs but will our crisis, if one occurs, be because of all the uncertainty at home? Every month is the same, economists…[Read more]

Joe, how many units are in your block. If you have 3 and there are only 6 in the block you may be a quorum and you can threaten to change Strata managers. It’s unheard of to be charged for too many complaints, they get paid to manage the property already. Check Fair Trading in your State for Strata rules as you may be pleasantly surprised. Don’t…[Read more]

We have just been doing a dual occupancy with this problem. The hydraulic engineer has designed a 17,600 lt tank system to deal with the water. It is costing around $15k to install. It was a bit of a process to get council approval but we did eventually get it.

Mick

Some interesting thoughts! Having just arrived back from 7 weeks in the USA and doing some property deals it is obvious that nothing is impossible. Most American home owners would not believe the bubble could burst up until the day it did. We asked people about this!
The major differences between us and the USA are the resources boom (I thank God…[Read more]

We've a couple of properties in Dysart and one which has an inground pool is becoming vacant this week. BMA won't take leases on properties with pools so we've booked in to fill it in this weekend as it becomes vacant. Hopefully we can rent it out fairly quickly and possibly to BMA.Here's hoping!

Shel, your question re +geared compared to -geared and tax is simple. Do you invest to make money or lose it? If you lose you can save tax, if you make $ you will pay tax after deductions which can be many. To not want +geared property is craziness!

Wow, $7,400 for a deposit bond sounds incredibly expensive. We've used them numerous times in NSW and they were only hundreds of $ not 000's! Shop around and get some prices first and then make your decision, that's my advice!

The late settlement is not that uncommon these days. Request to speak to whoever is the most senior person or at the top and refuse to speak to anyone else. Threaten to move banks and demand they pay the penalty. We've had this happen before and didn't have a problem getting them to pay it. It was another bank but I'm sure the Big 4 are all pretty…[Read more]

What do you mean by there is no Body Corporate in place, is there a Strata Manager and Strata fees to pay or not? Normally in Strata situations, a big part of the Strata fees are building insurance as the buildings are joined together, sinking fund covers things that were and/or get damaged in common areas, repainting of exterior doors, facias,…[Read more]

Interesting Badger, last time I'll bother on this topic as it is meaningless. Keep knocking and we'll just keep on successfully investing and making the $'s.The saying is certainly true, "ignorance is bliss!"To any unsuspecting readers of the thread, do yourself a favour and get educated if you want to succeed purposefully rather than depend on…[Read more]

Badger,I wonder if you went to school and if you did, what for? If you have kids do you send them to school and if so, what for? To do a trade or become a professional, education is always part of the process. If all we need do is count on dumb luck we may as well take a loan of a couple of hundered thousand dollars and buy lotto tickets or go to…[Read more]

Good advice Alistair. The RESULTS program is all about education so a person can go out and do their own deals anywhere and have someone you can bounce these deals off before committing. It's a great program that I'd recommend to anyone!

Did the course a few years ago but have done no options deals. At the time part of the process involved access to RPData which was too pricey and way beyond us. We have since gained access to it for NSW but use it for our property purchases, not options.