Forum Replies Created
Simple answer,
Use it to negotiate but confirm you have a water tight Insurance cover for the building that clearly protects you against that outcome.
Jaxon | Jaxon Avery – Financial Adviser
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Pleasure, any further questions ask away.
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Confirm with a quality accountant but any expenses incurred in that financial year, yes you can claim that year even if it covers X period in the future.
Kind regards
Jaxon Avery
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
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.
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Ok Purpleboar,
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 should be easily to clean up over a year or so
3. does your mother needs the funds or want them? or is the Property designed to go to you in your control as the equity isn’t needed by her?
Now moving forward you can do a few different things depending on the above answers and your long term goals (guessing its to get financially ahead)
Mate, I am more than happy to have a chat if you would like and play out the options?
Kind regards
Jaxon Avery
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
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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 all questions.
Kind regards
Jaxon Avery
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
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.
Kind regards
Jaxon Avery
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
I did send you a personal message on here with my details, happy to have a chat and instead of recommending someone, assist and teach how to find what your looking for.
Kind regards
Jaxon Avery
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Then you have answered your own question? just make sure you do some reading prior to settlement (due diligence)
-Check BC
-Rates
-Pest test
-Building Inspection
-Area sales prices
-Ways to add value
-etc etc etc (aka read a lot)
-have someone to assistKind regards
Jaxon Avery
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
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 but if you can buy with less units (e.g. 8 instead of 150) than you own 1/8th of the land, so in some cases you can buy units for less than the land value (happens more than people think)
Both options have their own benefits but if one is possible now and you are willing to put the work in and its means a smaller loan it makes a lot more practical sense from my eyes. (providing it fits your long term financial goals.
Kind regards
Jaxon Avery
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
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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 also cons.
one you clearly have a well established idea of both paths then you should see the benefit of each and know which fits you.
Happy to have a chat if you would like.
Kind regards
Jaxon Avery
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
All good or bad options depending on your long term plans/goals.
firstly each step should be part of your path and it will be.
each step should set up the next.there are good options in the west melbz area, good sub div options etc, the main thing is how it will affect your personal cashflow, how it sets you up for your next property and the long term goals and your strategy. (e.g. buy and hold, hold and reno etc)
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Good Idea Financially?
the simple way to work it out is
value of property now
cost to do reno
value of the property after.then that is a really clear and easy way to break it down, even get quotes for the job.
for e.g. a client of mine had a converted garage bedroom we did a $15,000 reno on it and added a private ensuite (shower/Toliet) the rental return went from $180 to now $300 per week so really good return in that specific case.
Kind regards
Jaxon Avery
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Hey Brad,
Realestate.com.au (I study the markets myself)
http://sqmresearch.com.au/ (a solid reporting tool)
https://www.corelogic.com.au/ (reports on everything property, sold prices etc)I do not use or know of a tool (bar the standard Realestate.com.au Reports that actually structures it in such a way that a report generates in depth proximities
Any further questions fire away.
Kind regards
Jaxon Avery
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
CRj please show one case scenario that is current with a 10%+ return. with No BC.
Kind regards
Jaxon Avery
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Yuol, more than happy to have a chat and play out ideas and go from there?
Kind regards
Jaxon Avery
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
I can answer all of this (bar the legal advice, but I can give general information to help inform you on different trusts)
more importantly what is the end goal???
because if its a $200k income PA from investments I would question if your on the most appropriate path there.happy to chat.
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
what do you want them to do?
also, contact every single company that works within that area, organise quotes/rough quotes, ask questions, the best way to find the right workers is to give them the smell test and create a bonus if your paying them day rates and give them a fair time to finish with a $200 bonus on that day.
could save you large money (day rate over the whole job)
also remember laborers are cheaper for general work.Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
30 acres = 120,000m2
2800 x $5000 = 14mil
$116 per square meter
=$81,000 for an 700m2 block.
this investment has no return bar the perceived return upon sale. but does seem cheap depending on the location of the land and a variety of things.
my simple answer is the Warren buffett, which boils down to investing in things that go up in value, but more importantly invest in things with on going returns.
your essentially buying dirt, now yes it can and will go up, but it returns nothing for the next ??years??
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Rajs I would say your very largely wrong. Houses are far far better from equity, cashflow however depends on the exact properties, as does equity (but houses have a far greater chance of getting the most equity build up)
plus you own legal right of the land, there are strict restrictions to duplex etcJaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
