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! 1 year 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)
1.Considering that long term goal is to get capital appreciation, which is a better type of property? An established property or new house and land package? And why?
The Devil is in the detail, its the exact property that mattes more than new or old.
2.Why are suburbs like Padbury, Heathridge, Duncraig and Craigie have negative annual growth…[Read more]
Suri sent you a PM if you want to chat,
So you have entered into an agreement and it sounds like they have got planning approval on provisions which is stepping forward.
Call them, clarify every step (to the end goal having the property to produce income)
then workout all associated costs.
call other companies for the same offerings.
find the…[Read more]
contact every builder within a reasonable distance, asking for quotes, some of these may even include these cost (rare but can happen)
Also you have completed pre approved plans? what went through Council exactly?
loan structures are different (you will generally need 30% plus for put down)
setting leases is more difficult but more lucrative (potentially)
yields are generally higher
Multiple options to get a tenant yes making the price competitive is a must.
have a clear strategy, understand the demographic and have enough CF to survive the time it…[Read more]
If legally you are on a payg as a employee, have been with the company on a similar salary and the business is through some trust structure or your not the sole owner.
then it should comply for you to be assessed as an employee, providing you do not personally have anything you would have to disclose that would decline you from the broker/loan writer.
So there are a few different options
1. She sells (Yes incurs CG for sale) unless she lived in it in the last 6 years?
If you move out of your home and rent it out, under the law, the property is still treated as your principal residence for a period of up to six years.
2. your situation for serviceability can be worked on and…[Read more]
Well one of the best property investors in Australia started out young on this forum.
I think age is less important than knowledge and understanding risk.
I purchased my first at 21 and wish I had of started sooner.
There are multiple books each with an extra piece of knowledge. but I would be more than happy to chat to him and answer any and…[Read more]
My pleasure Sid,
I actually sent you a private message with my details if you have any specific questions, if you write them down I am more than happy to provide some answers and even carve a clear path for you.
Then you have answered your own question? just make sure you do some reading prior to settlement (due diligence)
-Area sales prices
-Ways to add value
-etc etc etc (aka read a lot)
-have someone to assist
Sarah I agree with Benny in relationship to houses but before I even read your answer I thought it might be a larger step than currently possible.
So, I personally think if your willing to add value to an older property can get a good price on something you can easily afford this can largely set you up to move forward.
I am not a fan of units…[Read more]
Muzzo Benny is the man! knows his stuff so I would read and Reread anything he sends you.
I think the answer will be self evident once you understand your long term goals and workout the pros and con of both options and even some other ones, I would get quotes for both options, look at the growth potential, rental returns and other benefits and…[Read more]
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