Great low price point, good returns, some risks but overall very good deals.
the main thing is going to be, structural, flood zones, location.
the demographic is lower class, so sourcing quality tenants having good insurances and having a good relation with tenants or good managers who will.
Benny’s ideas are great, are you putting a 14 day pest building and finance clause?
I would also use this as a tool to accept a close offer and then if your aware there are some concerns (most older dwellings will have such)
this can be a great bargining chips
you offer 1.1m they come back at 1.18m you setlle at 1.6m then you use the pest…[Read more]
Best thing, call every contractor within the radius appropriate for the dwelling.
Get them to give you a real idea, then ask what there day rate is and offer a bonus to complete within a fixed time frame.
could save big $
Vish the devil is in the detail,
I would pick the financially better deal, so if you could buy a property worth $500,000 for $300,000 then that trumps the area code.
the exacts of the deal far out-way the exact area.
Does that make sense?
Now I have sold properties with Ceilings under 2.4m for older dwellings, they cannot be classified as bedrooms and technically are not to current code.
now I would want your insurer to confirm they are covering this (if your renting)
I would want to be appear this is and isn’t an issue.
The main thing is your going to have to raise it to get it…[Read more]
There are no differential standards for buildings on the basis of when they were constructed, or how many units they contain. However, compliance with the Building Code of Australia is not retrospective. Under the Environmental Planning and Assessment Act 1979, a building only has to comply with the Building Code of Australia at the time of…[Read more]
Really for expenses its just what you will have generally, yes you can add and allocate extra costs but its all personal preference.
So main ones are
-Rates (land and council)
that’s about it from my perspective, depending on property etc.’
So you workout income – expenses = yearly return.
then yes…[Read more]
42 Cohuna Street Income breakdown
Name Expenses Income Weekly Total Yearly Total Total
Rental Income 240pw 240 12480
Mortgage Repayments 110 110 5720
Rates 24.9 24.9 1,294.86
Home and Landlord 13.59 13.59 707
Management Fees 21.13 21.13 1099
Total Income $240 $240 $12,480.00 $12,480.00
Main place of residence
You can avoid paying CGT if you sell a dwelling that’s considered your main place of residence. You can only ever have one main residence at any given time unless you’re selling your old main residence and buying another. In this case you’re entitled to an…[Read more]
Joe if its your first Sub Div,
go into your local town planning office, try sit down with a planner and learn,
usually a private certifier can do the whole process for you and will be worth having until you learn the in and outs of the requirements.
I say this is the simplest way to get started and get an idea of costs.
Really simple Terry, I am not a lawyer and do not claim in any way to give any legal advice, as to explain what a trust is, explaining some trust have tax incentives (of which you have to seek accounting advice) or general comments in relation to the fact there are different trusts all falls under general, given advice as to what someone should…[Read more]
To disclose in case it already wasn’t, please seek legal advise obviously for specifics
for myself I feel the above advice is appropriate for me, you should obviously seek legal advise for your own situation as there are many variables, the above is merely an overlying simplification and is not professional advise.
Adam every step you make should serve a purpose,
now for me the only real benefit is you can change a family (discretionary trust) ownership and payments at your own discriection, this is huge value under the right setup and I feel mainly pointless really while building a portfolio.
to be honest why pay for a complex or even simply trust…[Read more]
Adam every step you make should serve a purpose,
now the only real benefit is you can change a family (discretionary trust) ownership and payments at your own wants, this is huge value under the right setup and mainly pointless really while your building a portfolio.
to be honest why pay for a complex or even simply trust structure if it does…[Read more]
Jaxon replied to the topic first home buyer advantages after having an investment property (NSW) in the forum Help Needed! 3 months, 2 weeks ago
you or your spouse (including de facto spouse) have never held a relevant interest in any residential property in Australia prior to 1 July 2000
But if you own a property your not compliant, its only on the first purchase, did you receive stamp duty waive off your IP?
(to be fair the wording on the NSW website isnt that clear)
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