I know we got stung by extra 1% medicare levy last year the amount of tax is still based on your adjusted earnings but they factor in losses and super etc to decide if you qualify to pay the extra. We should be just under this year if I have my end of year figures right.
JPS25 replied to the topic Anyone used “Inspect My Home” for building/pest inspection? in the forum General Property 8 years, 3 months ago
Hi yes I have used them twice once on the south side of Brisbane and second time on the Sunshine Coast both inspectors did an excellent job. Didn't go through with the first property due to the inspectors report but did purchase the second property. They do have different inspectors in each of the area's they cover.
Thanks everyone looks like its BMT then.
Hi Shahin yes had problems with the one out in Coopers Plains Qld walked away from it due to the bad building inspection report I received that was the beginning of Jan, then tried for one already built in Annerley Qld but missed out to someone else. This one is in Meridan Plains on the Sunshine Coast Qld…[Read more]
JPS25 replied to the topic Investing in Chinchilla? Specifically Chinchilla Park development? in the forum Help Needed! 8 years, 5 months ago
Matt as Trickeymickey says do some more research. Don;t take the word of a developer or selling agent. One look at realestate.com.au and a word with the estate agents in the area will tell you what true rents are. They do vary a lot in Chinchilla depending on whether it is leased to a company or rented to families moving into the area. Also the…[Read more]
Hi Matt we have 2 properties in Chinchilla both were house and land packages I can't answer your first question as we put in 20% deposit + costs using the equity from our own home. Rents vary depending on how many are available for rent at any time. So far we have been one of the lucky ones but have seen some sit for weeks going unrented so do be…[Read more]
It also has to be a different solicitor to the one you are using for the purchase of the property if that is what the loan is for
I have to do it every time for the loan based on the equity in our home. The main 80% loan is fine but I always need an independent solicitor to sign off that I am aware of my responsibilities as a guarantor as I owe…[Read more]
JPS25 replied to the topic WARNING: Dual Living/ Granny Flat unapproved Duplexes- Brisbane City Council Enforcement Notices in the forum General Property 8 years, 8 months ago
I agree with The Fox I have seen quite a few house's being advertised as dual income in order to attract double NRAS Incentive they are taking the plan of a 4 bed house and putting in a dividing wall to make it 2 dwellings. I don't believe this is legal but somehow they are being approved by some of the consortiums out there.
I guess my instincts were right, he was waffling on about how he wasn't there to sell properties but to help people get into investments all the usual set up a free consultation. Both of us had to be present etc etc. Well Paul is away 4 weeks then we are off to Asia for 2 weeks so fat chance of that. So then he said as I knew a…[Read more]
JPS25 replied to the topic WARNING: Dual Living/ Granny Flat unapproved Duplexes- Brisbane City Council Enforcement Notices in the forum General Property 8 years, 9 months ago
Glad my daughter and her boyfriend have decided to see some common sense and move. They are renting a 3 bed that shares electricity with the guy who lives below, there is also a couple in the 2 bed section next door but they do have their own meter. All 3 are tenanted they always thought the guy downstairs should not legally be there…[Read more]
We have just had to pull out of one at Coopers Plains had finance and valuation was good, it was the building that let us down.
Really disappointed but its back to searching all over again. Would still like an Nras one to compliment the other 2 IP's that we have out in Chinchilla. They are at the point were they are paying for…[Read more]
JPS25 replied to the topic QLD mining regions (Bowen & Surat Basins & Gladstone): Willing to help anyone with questions in the forum Help Needed! 8 years, 9 months ago
Hi Josh, is Chinchilla a good place to invest now. I remember you indicating back pn 2011 that is not good to invest there. Could you please advise why you would not invest there? Thanks in advance
I can't answer your question as I am a novice but we do have 2 properties out in Chinchilla, both are doing well
Contract withdrawn this morning so glad I put the clause in to favor us not them regarding Building Inspection
If nothing else I have learnt a lot about body corps etc that I didn't know before
Not sure if I am off units altogether now but may stick with house's from now on at least you know it is just the one property that has to pass…[Read more]
Well got the drainage docs this morning by email.
No drainage pipes along the side that concerned the building inspector at all
Very much doubt they would be able to put them in now apart from the cost that whole side is an easement for the electricity
I went back this afternoon for another look at this section and it really does need more…[Read more]
Yes went yesterday got there early and no builders on site. I did manage to speak to a resident of block B (the 4 story block) that was finished before Xmas and asked if he had any problems. He said he did have something with the toilet but they were on the scene straight away and had it all fixed up. I did use my time to check around…[Read more]
Valuation came out at purchase price
Builders defects that are putting me off
I admit they are only just going back in after xmas break and the blinds did still have to go up so maybe I did have it looked at early by the building inspector. Saying that I asked the agent if it was finished he said it was so what can I say there own…[Read more]
We had the same situation with our PPOR offset before paying it all off. We do also have an offset connected to our IP investments but as I don't earn much and the IP's are in Paul's name I have a high interest online savings account where all our access money goes. That way Paul still gets full tax deductibility on IP's but we also earn…[Read more]
I just had a look and wow seriously. Are you sure the builder has a licence to build?
Do you know how expensive it would be to fix the storm water pipe and they didn't put drainage on the balcony?
People that do not understand NRAS will generally knock it. General stock (particularly those in Brisbane) are…[Read more]
The builders were Waltons you would expect better from a big company such as this
I have agreed to meet them on Monday to discuss but they are in no doubt that we are on verge of walking away
$380 for report is priceless
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