you need to see an independent lawyer, pronto!

Q. What suburb did you buy in?
Q. is the land registered and has construction started?
Q. did you buy a house and land with TWO contracts or one? ie separate land contract and separate HIA construction contract.

Also, it doesn't sound like you purchased through a buyers agent, but a…[Read more]

as everyone has pointed out already, the properties purpose is for you to live in it until at which point it becomes income producing from an arms length transaction. Therefor you will NOT have any tax deductions until you rent the property out. You cannot rent the property to yourself. Some investors use convoluted trust structures…[Read more]

by looking on the councils website you should have access to the town planning code which will guide you when looking to build dual occupancies and multiple dwellings. From here you will know if the project will be code assessable or impact assessable. Code assessable means you shouldn't have a problem as long as the dwelling is…[Read more]

I use $2000 – $10,000 deposits for development sites, get the DA through (ranging from $3000 – $15,000) and…[Read more]

if you plan to pass the property on to your kids then a family trust may assist with this. If you are self employed or have other sources of income outside of PAYG then a trust could minimise your tax if you can put profits into there to soak up the losses and depreciation (if there is any).

As Jamie said, a good accountant will help…[Read more]

for all of our clients we strongly recommend using a mortgage broker when looking to borrow to invest. More than often a bank lender does not understand investing or understand what you're trying to achieve. Your property investing team must be on the same page as you and get all the numbers!

Sorry for the push Jamie, but Brad, even…[Read more]

What's your strategy for the property you are considering fixing?

holding property in your SMSF is designed to allow an investor diversify their assets for retirement. Putting all of your eggs in one basket defeats this purpose. However, many people still choose to do it. You will need to ensure you have a very thorough understanding of property and your investment strategy.

Also, it will depend on…[Read more]

The available equity can be used as you wish (well, within reason obviously). How much of your equity you use as your deposit is up to you and will depend on your desire to pay LMI (loan mortgage insurance). A 10% deposit towards your new property could be achievable so you may only need $35,000 plus purchasing costs (stamp duty, legal…[Read more]

Jamie has the equity scenario down pat for you, so I would like to comment on your strategy. 

1. Interest: Your calculation seems a little high, you could would not be paying that much. However allowances/considerations for increases is advised as rates are quite low at the moment. 

2. Return: Your gross return is not even 4.5%. that…[Read more]

you will need to assess the Body Corporate fees and the sinking fund. 

it would be worth conducting a risk analysis for yourself first. This will allow you to identify what you perceive as high risk and allow you to stay away from those strategies to start with. Secondly, identifying an investing strategy to assist in buying structures to allow for asset protection and also future tax minimisation. 

You…[Read more]

In this instance I would be saying bad luck, you paid them to get it right, maybe it can be reimbursed from the legal fees you paid for not performing.

1. For Investment Purposes:
Your next move will really depend on the research you have done on the area and the property. No doubt you believe the area and property will provide a good return and or capital growth, otherwise you wouldn't be buying it. if this is the case you could get the repairs quoted and negotiate the amount by the quote…[Read more]

it was done a lot in the mining towns where this difference was huge, buyers can see through it pretty easily by analysing the current rentals on the market and comparing them to what the property is receiving. if theres a difference, they will factor that in to their negotiations. 

Often the psychology can work better in the opposite.…[Read more]

your solicitor will be the best for this. Sometimes a breach of contract can be found on very minor technicalities when issuing the contract for example. However 18 months later it can be hard. 

OTP contracts are generally executed fairly well as developers dont want buyers to be able to change their mind half way through. the sunset…[Read more]

If you can exit from the body corp management agreement that may be in place since it was only set up about a year ago you could use the two lot scheme that came into effect in QLD a year…[Read more]

Just being a sceptic for a moment, if you have had several valuations and are in the middle of the building process yourselves which ensures bottom dollar build rates and the val is still $44k short, is it the best investment? maybe the land could be sold and your friend could research better areas to invest?

Out of interest what are…[Read more]

Advice is always worth what you pay for it. A good property investment advice firm will be able to assist you no matter how or what you want to…[Read more]

Ie: have the numbers or emails of reliable trades…[Read more]

However each local market needs to be assessed…[Read more]

Considering it is your PPR than your tax advantages are great! paying less interest is not necessarily a bad thing should you only have IP's to offset. You could further invest with a good strategy or look at buying a new PPR. 

Mould is an issue that sometimes never goes away (permanently anyway). Not that its a…[Read more]

Ask…

1. Will you take photos on the inspections, if so, how many, of what and how often. 
2. You will need to set a schedule in your calendar of your expectations from the manager so you can keep them…[Read more]

The body corp is not the worst, it all depends what you get for that. Assess the condition of the complex, the amenities, gardening and maintenance, sinking find val etc.

As for the cold feet, everyone gets them and no one can tell you what to do when you get them. I always ask if cold feet have stopped you from doing a lot of other…[Read more]

It depends what you want to achieve from property in the long term. However if a property sits in a good market and your research leads you to suggest that the market in the future wont be as good as now than yes you should definitely take advantage of it. 

My question to you would be what have you done to research and come to an…[Read more]

Have you done any property investing development at all? Building or even being involved in a 6 story development is no small feat if you haven't.

To be involved in a JV, it would depend on the level of debt you have on the land. if it is owned outright (or nearly) you would be in a good position to enter into JV discussions. If your…[Read more]

Yes of course, all part of the problem and solution. My experience and understanding shows me that many people refused to listen to some advice (not from me but others) and purchase based purely on cash flow with conducting no risk analysis whatsoever. This caused many investors to pay well above the odds (which I or none of my clients…[Read more]

Good comments, firstly i would recommend to have a read of this blog post of mine about the QLD coal industry http://www.ppiqldtour.blogspot.com.au/2012/10/whats-wrong-with-coal-industry.html . It is again my opinion however it highlights many of the fundamental issues facing the industry that were really all highlighted mid this…[Read more]

Nathan has a point, if the unit has not seen growth since 2001, why? and what would change in the future for growth to occur? however your ROI could be quite good of you rented it out. as your equity is also quite good, the rent could increase your serviceability (potentially). I would recommend you do a full cost analysis on each of…[Read more]

cheers

Their is a possibility of separating the water meter (I think) however it will depend on where the meter is located. if it is near the house (unlikely) it…[Read more]

As we invest all throughout regional Qld, we are always traveling around!

Cheers

You bring up a good question as many people would look at my strategy in a negative way due to the action that has happened in Emerald lately. 

Firstly, the article was written many months prior to release so the market had not changed so much. However, I was asked to produce a long term strategy. For me personally, whether someone…[Read more]

I would be looking at 3 beds too. the extra space is/should be, quite cheap to add on. 

I would suggest doing some more homework on small developments. To be frank, if you are not familiar with what headwork charges are than keep doing your research into everything. 

You will also need to think about the strata title, creating a…[Read more]

Have you thought of NRAS? 

My thoughts are…[Read more]

if you bought the house a number of years ago, and assuming you haven't accessed any equity that was there, I would look at renting it for break even point which shouldn't be much over $600 per week or so? That's if you can achieve that really. Its the hard part about a small town like Dysart, when it stops, it just stops!

Depending…[Read more]

Has anyone on this thread even bothered to do any due diligence as to the detrimental effects of this process, not only to the environment (it poisons our very precious deep water table) but it…[Read more]

On another note, we finally have seen NRAS stock in Emerald. With a proposed market rent of $600 or so per week for the houses, this could be great…[Read more]

I have had a look at Emerald recently and seen that the rental prices have dropped from the lofty heights of $950 per week and now look like $700-$750 (which by the way is still a good rental yield).
I understand those prices may not have been attainable for a long period of time but as I am looking to buy again I am…[Read more]