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Cameron, that question is so broad. what is the goal>??
Jaxon | Jaxon Avery – Financial Adviser
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Hey mate,
Look I could give you lots of useless/usefull advice, firslty what is the end goal? is it financial freedom as soon as possible?
If so, then you should be structuring your property movements to match that.
this would mean either renovate then revaluate your PPOR or look at 1 postively geared place or 2.
for e.g. I just bought a property for $121,000 in your state that is renting at 240 per week, around 60-80 profit per week after expenses, not even including tax incentives etc.Jaxon | Jaxon Avery – Financial Adviser
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Simple thing I do,
Ok firstly I only want positive cash flow IPs
So I work out the Rental return vs the expenses (loan, bc, rates, etc)
also your going to have to really study what your looking for, also finding things on alternative listing sites such as gumtree, cold calling real estate firms, other sites, cold calling etc.
then hustle, put multiple offers than if the numbers add up and the suburb is not based on one large aspect (farming/Mining)
Jaxon | Jaxon Avery – Financial Adviser
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Terry This needs to be a proper post on this website, this is so so so useful and informative.
I dont know if a post had been put up prior about this, but I would love to see this as a actual post on this page.
Such a great peice of information
Jaxon | Jaxon Avery – Financial Adviser
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Jay,
that may be the best option what you just stated above, or it may have a lot of sense to hold onto it and use the equity to build a larger portfolio than selling and buying.
Remember there is fees (as noted above) every time you buy and sell, and if you gain profit generally the government wants a cut.
Jaxon | Jaxon Avery – Financial Adviser
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I think there is a lot of mixed/different information, I hope below is a fair and respectful overview
-was the property purchase a good idea-ANSWER; depends on what the goal was. but if you get a deal on the purchase price (below value) and also have a high rental yeild in a possible growth area, your ahead of the curb
-should I sell or keep or restructure-ANSWER: the easiest way to work this out is, what is the benefit and cons of each option, selling incures various fees (bank/loan, Real estate agent/captial gains/etc,etc)
keeping the loan/property as is means youve learnt changed nothing, unless you know where your heading, which can be the best option under the right circumstance
Restructure-this could also be good if your saving more money due to the various rates, this likely in your case may not be overly useful as it can incure fees and seems you may not have built a large amount of equity.I would like to end by saying Corey, Ethan, Terry, Dean, Tony all have points that bear a level of reasoning that make sense in their own way.
but if you know each of their points and the value in each of their points, then that should mean you will understand which option fits you.I wish you all the best
Jaxon | Jaxon Avery – Financial Adviser
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please correct me if im wrong, but
your forcing the current owned IP to go up in value (purchase by a trust/etc and a bank will approve the loan providing you have 20% to reput into that trust loan, even if the trust strcture has no income? or how does that work)
is there any document or courses that provide this information? this is right down things I want to understandyou free the equity to put in PPOR and have the trust yeild the debt, you artifically created an inflated asset price and stil have control over the trust (the IP), and your PPOR and also have more options moving forward as part of the stratergy over what I stated as an option?
Jaxon | Jaxon Avery – Financial Adviser
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Corey I am intrigued by your idea, but can you actually break down how this is financially and strategically smart?
you do not “need” a trust to pay down the PPOR
also the new purchase is PPOR so stamp duty wont be IP amounts either way?
So because of trust taxation law your stating their are more options for the trust operations stacked against named holder ofthe asset.
am I missing anything mate?
Jaxon | Jaxon Avery – Financial Adviser
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Good Points benny, very diplomatic and level headed.
I agree, you have good points that yeild value!
and I feel I understand and see value in what I stated.Thank you.
Jaxon | Jaxon Avery – Financial Adviser
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haha we do think alike a lot, just this specific circumstance I meant there are a few situations were you are right, but in my opinion I prefer not selling. (but maybe what I think dosnt fit New2invest strategy.
Benny I respect we have different views, that property is returning 8%, its positively geared, that beats tax incentives! its better to make a dollar than save 30 cents, isnt it?
I ran the numbers and its more profitable doing what I suggested, your talking about saving money I am talking about expanding the portfolio and getting a income from the property every week at 20/80 LVR
Jaxon | Jaxon Avery – Financial Adviser
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mate this is really simple and If what you stated is true, which I find hard to belive $900 per week return on a 600k property>???
I would advise, keep it!!! its the financial best move,
1. restructure the loan on the current place to 20% so you can move all the equity into PPOR
2. have it sitting in offset/redraw till then on current place
3. simply set that new loan up at 20% and put cash into that new loan offset.Done!
I really disagree with Benny under most cirumstances, but maybe you do fit one of those. but Financially this would be really unwise to sell. If you want to chat further feel free to call or message me on 0431376130, more than happy to answer any questions mate.
Jaxon | Jaxon Avery – Financial Adviser
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Karen if you want I can do a full breakdown and scope for you, for a really resonable fee!
or just give you a free 5 minute overview if you give me the address.
Jaxon | Jaxon Avery – Financial Adviser
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Ok so I will keep you posted if you like on this
Cohuna, Vic
42 william street
Purchase price; $121,000 3b1b (house on 700m2 block)
tenant on 2 year lease at; $230 a week
going through settlement at the moment,
Looking at $45-105 dollars aftere expenses based on a few things.
Should be able to put 15-30 grand into it and have it reappraised closer to 200k.
Jaxon | Jaxon Avery – Financial Adviser
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Ethan made some good points to add on Jason.
Pros
you do it correct once, you can save and save againCons
Savy buyers can change the contract without you realising (adding/changing/etc)
time consuming and really you need to know a fair bit to do this safely
you need to have a Solicitor who is happy for this (most will be)Mate if your willing to oversea it all and take that risk go for it, If you dont want to deal with the extra stress etc than look at something like purple bricks with a set fee. or bargin prices w agents.
Ps. must be a nice 1b, I got a 2b2b at treetops that rents for only a little bit more.
Jaxon | Jaxon Avery – Financial Adviser
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No idea what your talking about?
tax for what? ATO TAX????? do you mean capital gains tax when you sell the property and make a profit>
Jaxon | Jaxon Avery – Financial Adviser
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Rebecca this falls under your local town planning (Council)
Just simply call your local town planning office, arrange to sit down and they will provide every bit of detail for you (may ve vague but at least it will give you a good idea)
I would assume (every council is different) that there would likely be a way to get that through
Jaxon | Jaxon Avery – Financial Adviser
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Hey mate Address?
Jaxon | Jaxon Avery – Financial Adviser
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Mate I by no means am a Commerical property expert but I do pride myself on a logical and well rounded thought process,
I use stats all the time and they are incredibly useful but
stats are past information. that is important to grasp and remind yourselfyour stratergy which for most seems to be financial advancement is based on good choices, so buy problems and sell solutions!
– property value; Under buy and your already ahead
– rent value; Under buy and your already ahead, plus add value (less common in commerical but relevant)
– vacancy; stats are very deeply going to shed light, also look at data forecast, SQM is useful http://www.sqmresearch.com.au/All the best
Jaxon | Jaxon Avery – Financial Adviser
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oK :)
Jaxon | Jaxon Avery – Financial Adviser
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Mate state custodians is 3.7% or 3.8% for IP
in regards to fixing, do what fits your stratergy
Jaxon | Jaxon Avery – Financial Adviser
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Email Me | Phone MeJPA Financial Services Pty Ltd
