lifestylez wrote:
Hi ATurner,I agree with JamieM you should not be buying property to reduce your tax bill.  Negative gearing only helps to lessen the cash LOSS that you make.  If you buy a property and it costs you $100 a week to hold, that is a loss, negative cashflow.  You would only accept this loss if the future capital gains for the pr…[Read more]

Would be nice though

Cheers

Jamie

luke86 wrote:
You could always set up an LOC secured against your existing home to fund the deposit for your new home. The LOC would then be paid back when you sell your current home, which could be after settlement happens on your new home.Of course you need to be able to service both the loans at the same time. And you also run the risk of not…[Read more]

duckster wrote:
Do you allow pets in the property good rent marketing point maybe you let dogs in back yard My tenant has a dog and I do not think they will be moving too soon as they know I know about the dog in the backyard as I found out about the dog when I got the fences replaced. They also know I do not mind the dog in the backyard .You…[Read more]

nguli wrote:
Well I will be steering well away from these guys then. Thanks for the heads up.Nathan

Ditto

Jamie

Good advice above.

Not sure if it helps but we were looking into purchasing some flooring from these guys as well – http://www.onlinecarpet.com.au/ Their prices seemed reasonable.

Cheers

Jamie

For anyone interested, Terry Ryder (and some REA) talking about the Hunter Valley – http://www.hotspotting.com.au/media/audio/Phil-Lawlor-LJH-Muswellbrook.mp3

Cheers

Jamie

SandraL wrote:
The best time to have a valuation done (subject to all the comments above and the banks willingness to do it), is when your property is looking it's best, which is right after the reno. So make sure you have completely finished the renovation (and don't have little bits here and there still to be done) and cleared out all…[Read more]

WomeninPropMelb wrote:
Bluegrass and Jamie M- I see a lot of different strategies for investing in property- some people do it for negative gear and some for returns.

I don’t have a problem with negative gearing (most of my IPs are negative). However, I still standby the notion that taxation benefits shouldn’t be the “primary” reason for…[Read more]

What are the description and images like on realestate.com? Also, there should be a little box that tracks the number of visitors to the link as well – that will give you an idea of how much interest the advertisement is attracting.

Perhaps call some other PMs in the area and ask them what their current demand is like.

Cheers

Jamie

Hi Jodie

I’m not sure of second hand but my brother-in-law owns and operates an online custom flatpack kitchen business. My understanding is that you either provide your measurements online or over the phone, they make the cuts in the workshop and then send to you with detailed instructions on how to put together. His website is…[Read more]

I never put too much thought into the residex growth indicators. The reports are excellent for their comparable sales data – to have a quick snapshot of sales of similar properties within the area is excellent for due diligence and negotiating.

Cheers

Jamie

Hi Natasha

It sounds bias but a decent investment orientated broker should be your first step. They can advise on your current borrowing capacity, finance structure and answer your IP related questions. Preferably you would want to go with someone who is an investor themselves and understands what you’re trying to achieve.

I don’t personally…[Read more]

walshy wrote:
HI JamieThe group gets an upfront fee from me and the lender that's given conditional approval is the ANZ and is the same package that I am on with my home loan – except 0.3 % better rate!   They do get a commission from the bank which looks to be same as previous mortgage broker got.  The renos have a max budget allowed of $…[Read more]

Jason700 wrote:
  However, I'd like to point out one majour problem and that is…If you are looking to rent it out immediately then it may take you some time trying to find the suitable tenants.  Time = money. 

This hasn’t been my experience. Since self managing, we’ve never had a property vacant – one tenant leaves, another arrives. This wa…[Read more]

Bluegrass wrote:
Jamie M
What is the main reason then!
Bluegrass

For me – it’s the long-term capital growth and the ability to add value to the asset. The tax benefits are just a bonus.

Investing in property purely for taxation benefits is flawed – because reducing your taxable income requires you to make a loss.

Cheers

Jamie

Hi aturner

Welcome to the forum.

You’re in an excellent position to start investing. A high income with relatively few expenses.

Firstly, I wouldn’t base your investing decisions primarily on the taxation benefits available. The tax benefits linked to residential property should be seen as a bonus (not the main reason).

The best advice I can…[Read more]

wade anthony wrote:
Hi guys n galsI am in the process of purchasing my new ppor, I want to change the existing ppor to ip. I have used the equity in the first ppor to lever me into the next ppor and just need some guidance with the best way of being able to claim as much as I can.

Convert the loan to interest only. You will be able to claim the…[Read more]

Good point – a depreciation schedule on a new property like yours is going to provide a tidy return. You could also look at submitting the ATO’s PAYG variation form (assuming you’re a PAYG earner) and claiming your property deductions each pay as opposed to one lump sum at the end of the financial year. This will assist with cashflow.

Cheers

Jamie

I haven’t heard of the group so can’t comment. You need to find out how they are paid. Is it via an upfront payment from you? Ask them if they’re getting a commission from the lender – you want to make sure that there organising the finance that’s most suitable to you (and not their back pocket).

I think a $40k reno on a $185k property sounds too…[Read more]