Agree with Steve, and of course the other posts that stress the concerns about the lack of infrastructure projects.  You cannot expect the population to grow in an area (which in turn forces demand up which in turn forces prices up) if there is no compelling reason for people to move to the town. 

Agree with the above posts – it takes quite a bit of time to find appropriate suburbs, and even more to learn the suburb inside out. 

You need to invest a lot of time in being dead certain of the demand for different dwelling types (eg 1 bedroom units vs 3 bedroom houses), the demand for different streets, and the demand for different…[Read more]

https://www.propertyinvesting.com/user/qlds007

I might be missing something, but I don't think the numbers work on this project. You would have to spend $160k to build, you've spent a fair portion of $50k on the subdivision (I'm guessing $25k+) and more on the interest on the borrowings…. only to sell at around $200k.  Not worth pursuing really…

Apologies if I'm missing…[Read more]

Hi Doug

What is your ultimate objective?  For example, are you trying to assemble a sufficient portfolio to live off in your retirement?  It might help to figure out your goal and work back from there, and only look at properties that will get you to your goal.

Just to throw it into the mix, I've had my plumber ask whether I need the gutters cleaned when I've sent him out on other chores.  I know I could have the gardener do it also.  If the gardener has a ladder and a hose, it's in play. 

The beauty of buying property in super is leverage.  Borrowing to buy an asset worth more money than you actually have, and then letting tenants pay it off.

$65k is enough to open a smsf and buy its first house (paying deposit, stamp duty etc).  The next one you'd need a little less (about $58k) because you would not be "setting up the smsf". …[Read more]

How small is the savings pile?

Any idea how much you have in super?  Worth finding out.  You can create your own SMSF (Self Managed Super Fund) and use it as deposits to buy property  

On the flip side, it could mean the street is lovely and quiet (nursing homes are not known for throwing rowdy parties as far as i know) which might be appealing to families…

It needs a window and a minimum ceiling height…

Logically you need to be able to fit at least a single bed, a bedside table and either a chest of drawers or wardrobe.  If all you can fit is a chest of drawers you could get away with calling it a baby's room, since there is no real need to hang their clothing.That said, you'd probably need space…[Read more]

taxdiva wrote:
My accountant feels SMSF's will drive the next real estate boom!

Maybe, but there'll be more rentals on the market which will eventually cause a tweak in the supply and demand of rentals and may result in the need to decrease rental prices or not hike them quite so much each year.  For people that get on the SMSF bandwagon…[Read more]

Sorry Y-Stress but your idea of setting up one SMSF per property does not save people money.  It actually costs people more money.  As Qlds007 has already pointed out, land tax pales in comparison to the annual fees associated with running a SMSF.  ASIC does not offer discounts.  You cannot avoid annual ASIC costs, and you cannot avoid the…[Read more]

Y-Stress wrote:
You may want to have 2 SMSF's so that each SMSF owns a separate property, this may be useful if you want to reduce the land tax liability on owning each property

http://www.ystress.com.au

A new SMSF per property?  The annual accounting and ASIC fees would negate what you are trying to achieve in saving on land tax. 

Hi there

Which state is the property located in?

Exciting times!  Bring on June 30 then!

By the way the price of these things which appear to essentially be mobile homes, is pricier than a solid brick home in the same suburb, and in additional to this you have to also pay rent to the land owner.  Massive scam.

Hi Dark Knight

Numbers don't lie… the stats at the rear pages of API mag tell the story.

In some places the performance of regional city fringe suburbs outperform the supposedly awesome "within 10km of a capital city" suburbs, in capital growth, rental yield and low vacancy rate.

No need to believe old fashioned nonsense about having to buy…[Read more]

Good to hear it is tallying now.

If you don't have a depreciation schedule on each property, look into that.  Lovely free money.  I use a company called BMT (Quantity Surveyors).  They will generally give you an estimate over the phone of how much tax deducation they will find you  over the phone.

Free money is good

$10k is a mysteriously round number.  Is it exactly $10k you're out, or a number near $10k?

If it is exactly $10k maybe it's due to a typo in your spreadsheet/calculations somewhere?

Maybe the $10k was spent on stamp duty?  Post your calcs if you like and we'll see if we can see any obvious gaps