Total Members: 158,056

Jake H

  • Jake H replied to the topic Bathroom Renovation in the forum Value Adding 11 years, 2 months ago

    Hi, 
    some builders might have a square meter rate you could use as a guide and then just add your p.c items( toilet, fittings)? Also make sure the waterproofing is legit and all works should come with a warranty of some kind also the builder will need to guarenteed their work for 2 years non structural 

  • I read a book by Jan somers and there was a “rule of 72”. Where you times the growth rate by x amount of years to equal close to 72 (70-74) and that is how many years it takes to double in value. Obviously it’ll change as the growth rate changes. Again I read it from a Jan somers book and it’s my understanding

  • Yep that’s exactly what I mean thanks heaps.

  • Hi everyone,

    Thecrest you said

    You mention $300 rent return on $200K = 7.5% gross rent return.

    What’s the math equation to work this out. It’s got me beat as to how you did it. Thank you

  • Jake H replied to the topic self employed and having trouble getting loan in the forum Help Needed! 12 years, 10 months ago

    Good idea but no it’s just me and him. The best solution is for him to keep me on the books for 6 months. Getmy loan then I’ll contract to him.

  • Jake H replied to the topic self employed and having trouble getting loan in the forum Help Needed! 12 years, 10 months ago

    ive worked for the same builder all through my apprentichip and in july i turn tradesmen and ill be contracting to the same builder. However there is an 80/20 rule that applies and i have to contract to another company 20% of my time. Although im guaranteed work every day the banks still regard me as self employed. i have enough for a deposit now…[Read more]

  • Jake H replied to the topic Aspiring investor in the forum Help Needed! 12 years, 11 months ago

    Hey matt are you sure you can get your FHOG on your second house?

  • Ok so at what point do u pay stamp duty? When it becomes an investment?

  • As long as you live in the house for a minimum of 6 months within the first 12 months you can
    Keep your govt grant and rent it out.

  • Jake H replied to the topic Aspiring investor in the forum Help Needed! 12 years, 11 months ago

    I’m young too and I research heaps of books about property investing. Join forums as youve done
    And talk to people in your area that are experienced. Get to know your area it’s not to early to start looking at houses. Start getting an idea for value for money so when you are ready you know what ya lookin for. Don’t be worried about asking a…[Read more]

  • Jake H replied to the topic Beginner in the forum Thanks for Everyones help. 12 years, 11 months ago

    Thanks for Everyones help. Its great everyone who obviously has experience gets on here n helps everyone out.
    So the big thing I’m understanding is there’s numerous options u can choose from and each has there pros n cons. I cant wait to get my first house but I’ve gotta wait until the bank will lend me the money as I’m self employed. Which is a…[Read more]

  • Jake H replied to the topic Beginner in the forum Help Needed! 13 years ago

    Makes perfect sense thank you. Again I’m really just starting out I’m going to research alot more before I do anything. Thanks for your help

  • Jake H replied to the topic Beginner in the forum Help Needed! 13 years ago

    Thanks for Everyones reply. They are really helpful.

    Xdrew, yeah I really wasn’t going to be a developer as such. Until I have a bit more equity and a bit more cash behind me or borrowing power I was just going to stick to the 200-250k mark (as you said). And work my way up from there. The “appreciation trap” is this a bad thing? Just waiting…[Read more]

  • Jake H replied to the topic Tax Breaks on Renos in the forum Value Adding 13 years ago

    If it’s an IP and your earning income on the property can you claim renovations on tax? Is it the same if your negative gearing?
    Also is it true there’s a difference between replacing what was there and improving? Where is the line? Isn’t any kind of repair work improving the property?

  • Jake H replied to the topic Beginner in the forum Help Needed! 13 years ago

    I’m not saying there different. I just meant
    I was going to try stay away from quickly
    turning over property for quick profit to avoid
    capital gains tax. Instead using the equity to invest
    more and build a property portfolio. Am I on the right
    track there? Yeah ill let the pros touch the electrics
    and plumbing but I’ve got enough experience on…[Read more]

  • Jake H replied to the topic Learing the ropes in the forum Help Needed! 13 years ago

    Finspec wrote

    At least one applicant will occupy the home as their principal place of residence for a continuous period of at least six months, commencing within 12 months of settlement or construction of the home.

    So does that mean if you fit the criteria You can purchase property, claim the FHOG. Rent it out for the first 11 months then move…[Read more]

Jake H

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