1. Try the web for properties for sale in the area of a similar nature to what you will build for their asking price.

2. Get estimates from a builder or project builder (this is probably the cheaper option)to build on your block

3. Don’t forget to add for the completion of the property – driveways, carpet, blinds, light fittings,…[Read more]

I am self employed & so lucky enough to not worry about the outcome of all this. However, I do try to keep up to date & like Foundation have tried to read all that I can obtain on the topic. I frequently debate the idea with family members which ends up heated & getting us nowhere.

I suppose the question I have is, everyone is…[Read more]

Just the laugh I needed – LOL

EXCELLENT!! (Still laughing!!)[laugh4][laugh4]

Courage is not acting without fear but acting despite your fear.

I will try & clear up the GST question for you. When buying a commercial property with a lease, the lease can be seen as carrying on a business in that you are the landlord deriving a “business” type income. There is no GST on businesses being sold as a going concern however, in order to continue the business of deriving rent you…[Read more]

I am not 100% sure on this but I think you will find you don’t pay stamp duty on the property but on the share transfer of the company. Given the company still remains the owner of the property but the shares in the underlying company are changing thus stamp duty is payable based on the company’s holdings ie how much cash, how much…[Read more]

We live about an hour south of Sydney & we started in invest interstate. We could not handle the distance in trying to manage the property & so reigning our properties in to within a hour travelling time.

Courage is not acting without fear but acting despite your fear.

Some things to look for would be three phase power, height of roller doors, accessibility for trucks (ie make sure there is no retaining walls, bins etc to hinder turning circle), thickness of slab, whether it has a mezzanine of whether one can be installed etc

Just some ideas, hope they help.

Courage is not acting without fear but…[Read more]

Maybe put in the offer anyway, although the vendor knows what the valuer has said does not mean they will change too much & might just be happy to take the money & run.

Good luck

Courage is not acting without fear but acting despite your fear.

Try approaching the local council to get details of who owns the property. As for how much they paid, some regions have that info available on the internet. If it is in Canberra or the South Coast of NSW try http://www.allhomes.com.au

Kim

Courage is not acting without fear but acting despite your fear.

I am going through this at the moment but we are now both in agreement to sell. I asked my solictor the same questions. Basically, you can’t engage a real estate agent to start marketing the property without all parties signatures on the sales agreement.

I have requested a sales contract be drawn up by my solictor, however the property…[Read more]

Do you have any equity in the property that would let you borrow for your business venture & keep the property?

Kim

Courage is not acting without fear but acting despite your fear.

Firstly, I would have to find out just how risky option two is. What I mean is, what is the average number of weeks it would rent out for at the higher rate. If on average this would still give a negative result, I personally would be looking to sell while it is still your PPoR avoiding the CGT.

I would then put the extra money into your…[Read more]

Kim

Courage is not acting without fear but acting despite your fear.

Courage is not acting without fear but acting despite your fear.

I hope the Sunday paper was right. I am waiting to list an investment property & it will obviously make a big difference. Our local paper said today we is not confirming. The other problem I see for me is that it won’t start straight away.

Kim

Courage is not acting without fear but acting despite your fear.

I am proud to say that by no later than Christmas we will have my husband as a full time property investor. We started playing in the property market on, ready for this, Sept 11 2001. Very weird I know but thankfully we are doing well unlike the tragedy in USA.

We are both currently running our own businesses as well as doing property…[Read more]

There are a lot of highs & lows in real estate but I suppose this is what keeps us going. The only advice I have for you is to educate yourself. Talk to as many people as you can & ask them you they use as their accountant or solicitor etc. I always find word of mouth is the best way.

Good luck on your journey.

Kim

No amount of money can replace a potentially broken family life or the damage to your children. Start talking to agents…

Good luck

Kim

You have proven for me that you can have positive cashflow & capital growth in major cities – thanks.

The other point I would like to make is who said anything about 100% finance? Imagine if you had a deposit & purchased with 80% finance?!?!? Not everyone likes LMI.

You should not sign a contract without finance, like Dr X has already warned.

The agent will charge you GST because they are running a business which is supplying a service being the property management. So, they will charge 8% of the $240/wk (which…[Read more]

Give me some more info.. Do you mean the rent includes GST or do you mean your agent is charging you GST I am not sure where the GST fits in

Kim

He moved into our PPoR in Sept/Oct 1996 & promised that by the time I moved in in Nov 1996 he would have my additional kitchen cupboards & laundry cupboards installed. Now this should be easy given he is a cabinet maker.

Well last month I got my laundry cupboards because dear husband bought a dirt…[Read more]

Maybe your PM can help out. My PM in SA put us with Millennium Underwriting Agencies but I am not sure if they cover all states of Aust. It costs me $223 if that helps.

Kim

http://www.realestate.com.au/cgi-bin/rsearch?a=o&s=qld&c=13421931&tm=1121045331&id=102366033&f=0&p=30&t=res&ty=&snf=rbs&ag=&cu=&fmt=&header=

http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2004873562&n=

Kim

Body corporate fees cover all common areas & common costs which would include the building insurance, maintenance of the grounds, fire regulations such as blankets & extinguishers etc etc etc. There is also the body corporate management fees to hold meetings, collect & pay the above bills, similar to what a real estate agent would do…[Read more]

I would love to help you but need a bit of an understanding what is going on. Is the rent you are to receive $165/pw including GST? If that is the case, is it a commercial property because residential properties are not charged GST.

Let me know & I will try to help fill in the gaps.

Kim

I understand your point & the debate got heated with the ATO. If I find more documentation, I will post the link.

Kim

I had a friend who tried to get an IP loan while on workers comp & got knocked back. The lender said that unless you could get a letter from the insurance company stating how long & how much you were going to get it was no go. Their reasoning was that if insurance deemed you not to be injured etc, payments could stop ASAP.

Maybe one…[Read more]

The ATO advised that they are looking solely at the loan obtained from the financial institution. They did not mention accepting any agreement between the husband & wife.

One that is hot on my list at the moment is CGT. I know this is an age old problem but my specific issue is with the claiming of the capital write off (2.5%) & what impact this has on CGT. I was advised recently that even if you don’t claim the 2.5% write off that you are perceived to have claimed it when it comes to working out your…[Read more]

Sorry if I confused you, sometimes I confuse myself – ha ha

What I was trying to say is, not all property deals are positively geared unless you put in a cash deposit & hence borrow less. If by not putting in any cash, the deal is now negative, how many properties can you afford that are losing you money each month????

We have an industrial workshop in those old red bricks & to top it off, the owners/builders thought that since it was only an industrial property they didn’t clean the bricks properly. The first thing we did when we had the spare cash was render the place. Mind you that was a few years ago & we are still arguing over the colour to paint…[Read more]

Let me see if I can start answering some of the questions for you & I am sure the others will fill in the gaps for me.

Q1/ Guarantors are becoming more common these days as property prices rise & first home owners struggle to break into the market. Mum & Dad guarantors are coming back to help out. With regards to your wife being…[Read more]

Q1/ Yes you can claim two lots of insurance in one financial year. The ATO allows you to claim the expense when you pay it so long as you are not prepaying years in advance

Q2/ I am not sure if I completely understand this question. Do you mean that the equity in one property is enough to support the loan & thus you are releasing the…[Read more]