Mabbott

There are fellow forum contributors that has invested in USA. Contact Westan and Alvin, they have bird-dogs that can refer positive cashflow deals (mostly in state of NY) to you. However, it depends on your personal preference and also your financial situation. Do a search on USA investing and see what comes up.. Also, get your hands…[Read more]

Hi

thanks for the interest post. Too bad that I cannot join the meeting or the trip to US cos of work commitments. However, I am currently focusing on TEXAS market. I am focusing on two large cities (Houston and Austin) who has experienced good population growth for last 3 years and also provide strong employment opportunities. However, I…[Read more]

Thanks Del and Will

I am actually going to the info session on Tuesday night, but just before that, I was wondering whether anybody will recommend a website or magazines or books that I can read up regarding the property market in the USA (e.g market performance, settlement process, negotiation terms)?

Cheers
john

Want to join financial…[Read more]

Amit

Would the loan process become easier if I am purchasing property via trust strcuture (incorporated in NZ) and taking out loan in name of trust? Also, can you recommend some reliable accountants in NZ that will assit me in setting up the best structure for purchasing IPs in NZ?

Cheers
john

Want to join financial independence before 31…[Read more]

thanks everybody for your replies,

I was wondering can somebody recommend whether it is a good idea to purchase IPs in NZ using a hybrid trust (incoporated in Oz) or is it better to keep Oz investments completely separately from NZ?

Also, can somebody recommend a reliable accountants that will assist in getting the correct structure for…[Read more]

I am contemplating investing in NZ market, just wondering what expenses are payable by landlord in terms of management (e.g. electricity, water usage, gas, sewerage, rental management fee of how much % and any other statutory charges)?

thanks
john

Want to join financial independence before 31 years old, currently 25

Steve

Let me try to understand this theory. Rather than me trying to second guess what the potential tenants want (which can differ from individual to individual), I offer them the basics (which is 160/week as what the rental appraisal says) and then offer them extra benefits (provided that the property is in a livable stage)?

thanks
john

Want…[Read more]

Just while we are on the topic of acquiring a +ve cashflow properties in southeastern corridor on Brisbane, I recently bought a property and made it from -ve cashflow to +ve cashflow but asking my rental manager to rent out each room individually (managed by rental manager and also bought landlord insurance). Sometimes, you may find that in a low…[Read more]

MW

I’ve also just went to the masterclass in Melbourne. I suppose whether you are keen to reduce your tax bill. The reason being I am currently working and purchasing properties via trust structure. In order to reduce my tax bill, I am currently purchasing properties in trust name but the loan is taken out in my name, as the corporate trustee…[Read more]

Just to correct myself, the numbers should be:

* 10K rent
* interest payments of 6K
* annual management cost (insurance, body corporates, rates) are 4K
* depreciations are 4K
* repairs are 3K

Cheers
john

Want to join financial independence before 31 years old, currently 25

Coastmike

What’s happening with this property is that the loan is taken out on the trust name and I am the guarantor of the loan. the numbers for the property are:

* 10K rent
* interest payments of 6K
* annual management cost (insurance, body corporates, rates) are 4K
* deductions are 4K
* repairs are 3K

Excluding the interest payments, the…[Read more]

I’ve set up a hybrid trust to purchase my first IP in QLD. It is cashflow positive but if after applying the rental expenses against the rental income, the trust incurred a loss of $3.5K for FYE 30 June 2005. I am the sole director of corporate trustee and if I elect not to roll forward the tax losses to next year, can I apply it to my other…[Read more]

thanks everybody for their replies.

So I’ve heard about negative gearing and I thought the losses can be claimed against your own personal income. If the trust is not possible to distribute losses, why would anybody purchase investment properties via trust structure?

Thanks
john

Want to join financial independence before 31 years old, currently 25

If you are looking in any states apart from SA, Residex provides a report that says about the median property price growth over 10 years, 1 year and 3 months period. Also, they publish the data by postcode but it is easy to convert to suburbs. Each report (for each state) costs around 70 cos i’ve just bought one for QLD

Cheers
john

Want to…[Read more]

Considering I am doing the reno for 2 bedroom units in Beenleigh, is there any weekend auction market in Brisbane that sells the following at wholesale prices:

1) kitchen benchtop
2) shower screen
3) vanity unit
4) toilet and cistern unit
5) cooktop packages
6) door handles for kitchen cabinet
7) timber or vertical blinds

but i am unsure whether…[Read more]

thanks everybody for your reply, I have got a few more questions:

1) if the old fittings is worth $4000, how much can i claim it as write off

2) if I don’t replace the exisitng fixtures, I will not be able to rent out the room individually, cos the existing tenant has not been taking good care of the property, therefore can it be regarded as…[Read more]

Just to add to that, I was wondering whether renters in Beenleigh area prefer carpets or floor boards?

Cheers
john

Want to join financial independence before 31 years old, currently 25

RedHaven

I am intending to rent out each room individually to either working professionals or welfare recipients, all utility rates will be included in the rent..

Cheers
john

Want to join financial independence before 31 years old, currently 25

Just another interesting situation. I’ve tried to contact a few insurance companies and brokers, but they are not open to the idea of renting out each room individually. They will not provide any insurance even if the property is managed by rental manager and a bond is collected. I was wondering does anybody knows of any insurance companies…[Read more]

thanks everybody for your reply. I have checked with REIQ and residential tenancy governing body in QLD and they say as long as the property has less than 4 bedrooms, myself and property manager do not need a license to carry out this activity. However, I am keen to learn about the lease option with the right to sublet? Can somebody please…[Read more]