Intrigue wrote:
Owe look I just got a fax from 'who knows'They offering me for today only 7 night accom in Thailand (Phuket, Koh Samui and Pattaya)I note at the bottom of the offer 'this accommodation also includes a 90min presentation'… Now these sorts of presentations I have read about…I wonder where they got my fax number.. Do people go…[Read more]

wickl wrote:
Hi All,

Settlement for our first home is tomorrow. We ended up accepting the property with a tenacy agreement for 8 months as our own lease is not up in our current place until a similar time.

Couple of questions:
1. Is landlord insurance a must? If so, any recommendations of good products?
2. Is anything we do to the property…[Read more]

Hi Brinky

Welcome to the forum.

Firstly, all the best with your investing journey – starting out young is the way to go.

You can avoid CGT by never selling! CGT is also not applicable on a principle place of residency (something to consider when purchasing your first property).

The most simplistic explanation of CGT is that it’s the tax…[Read more]

Hi Broke Investor

Are their public transport options nearby? Do you suspect that the rental market your targeting would prefer a car space? If so, you’ll be restricting yourself to a small pool of tenants without vehicles (students come to mind).

Also, the next person to purchase the property after you is likely to have similar reservations -…[Read more]

eric_agape wrote:
My friend told me if I refinance my existing place and cash out for the deposit of new place, the difference of increased loan amount is not tax deductable.i.e. If the existing loan is 200K, after refinance and turn it into IP with 300K loan. The interest of 100K loan is not tax deductable. I can only claim the interest from…[Read more]

Hi Icg1977

Welcome to the forum

Can’t you just hang tight for one more month?

You’re best bet is to contact the SRO – but I’m sure you already know what they’ll say.

Cheers

Jamie

scotty8911 wrote:
Thank-you Catalyst for your reply. Are the properties CF neutral before the reno’s or after? And, what do people mean by ‘crunching the numbers’? It makes a little sense but would like some clarification.Thanks

Hi Scotty

I take it from Catalyst’s comments that after he/she adds value, he/she is able to command a higher rent -…[Read more]

I would have thought that the accountant that submitted the PAYG variation would have asked about the title details before submitting the form? As Terryw mentioned, you might be in a position where you have to pay back tax.

Cheers

Jamie

Jake H wrote:
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

Hi Jake

Welcome to the forum.

You’re at the right place. Keep asking questions and carrying out your research. You’ll be offering up your own opinions in no time!

All the best with the…[Read more]

Hi Mark

I was looking into Nowra mid last year – there were some good posts from Devo (I think that was the username) on the area.

I’m not 100% sure if Nerriga road is complete yet. You’d have to suss that one out.

Best of luck with whichever option you choose.

Cheers

Jamie

Sounds pretty expensive. Is their a swimming pool?

To put it into perspective, I have a 3 bedroom townhouse in a complex of about 16 that costs $450 per quarter and a 2 bedroom unit in a complex of 20 that costs about $300 per quarter.

When I was searching for an IP up in Logan last year I was surprised at how expensive the body corporate fees…[Read more]

Hi

Welcome to the forum.

There’s been a few posts about Destiny and Margaret Lomas of late. If you do a search you’ll find a fair bit of info.

Cheers

Jamie

Hi Mark

Are you looking at off-the-plan in Canberra CBD? There’s a couple of developments that look tempting (one in Braddon and one near Glebe Park). Once complete the decent yields and high depreciation should see these units achieving neutral cashflow (or slightly negative).

I’d be tempted to grab something locally (ie. Canberra) – it’s a…[Read more]

Catalyst wrote:
Look on RE.com and see what the rents for the area ARE.

That would be the first place I’d be looking.

What are comparable properties in the area renting for? How long have they been on the market for?

Can you provide a point of difference such as allowing pets?

I suspect your problem stems from the price you’ve got it listed…[Read more]

Hi Matt

If the property is purchased as an investment – it will attract stamp duty. I’m not aware of anyway to avoid that (happy to be corrected though).

Stamp duty is generally added to the cost base when calculating CGT. So you will receive the deduction when selling.

Some states are a little different. In the ACT, we’re allowed to claim…[Read more]

Hi Scotty

One method that I like is purchasing a PPOR at the beginning. Something that can be renovated to add value (it doesn’t need to be a major overhaul) – it’s amazing how much value simple renovations such as new paint/flooring/refaced kitchen can add.

After you’ve carried out some renos – have the property revalued by the lender. I…[Read more]

ladyo wrote:
So I took her advice and put in the application for a private ruling in November 2010 but still awaiting answers. Anyone know how long it normally takes for the ATO to issue a private ruling from time of application?

Got to love dealing with bureaucracy – call them asap. The earlier you call the ATO in the morning the less time…[Read more]

His $25k could stretch a bit further than that if he was able to take out a 95% + LMI lend.

Cheers

Jamie

scotty8911 wrote:
Thanks heaps guys for the reply’s, its good to get some hands on advice from other people playing the game. One last question I have, is there a rough set of guidelines for doing your due diligence? I know it includes doing your research on the area, owner occupiers vs. investments, people per household, infrastructure plans,…[Read more]

Catalyst wrote:
Get out there. Look at properties. Make a choice and move. It may not be the most wonderful property when you look back on it after years of investing but you're one up on the person who reads for 5 years waiting for the "perfect" property.

Catalyst makes a very good point. You don’t want to cop the dreaded “analysis paralysis”…[Read more]