For crying out loud, I can't believe that people are still asking for feedback on this group.  Have you people not read this thread?

I think that Body Corporate payments attach to the property, not the property owner and therefore you probably don't have any legal obligation to pay it.  However, if I was in your position, I would just pay the money.  That would seem to be the decent thing to do.CheersK

Let me get this straight.  You want to embark on a venture that is going to make you a profit and put extra money in your pocket.  You are able to take advantage of a loophole in the tax system by living in one property for 12 months and thereby avoid paying CGT on that property.  And yet you are complaining that it's unfair to not be able to us…[Read more]

I think i3ravo is planning on being the developer, so from that perspective, it all looks great!  The comments all sound very favourable to you i3ravo!The problem may be getting purchasers to agree to your terms, which sound far more favourable to the developer than to the purchaser.CheersK

The property manager is your agent. that is, they act in your place.  Of course you are entitled to anything that is received by your agent in the course of them acting as your agent.I think I remember this happening once before on the forum (PM refusing to release documents claiming Privacy Act) but you are entitled to it, in the same way…[Read more]

Another problem (and no offence Vitale) is that market value is not always sale price.  Have a look at what properties are selling for, rather than what they are being advertised for.If you still think your property is worth as much as you think it is, then find out from the bank which valuers are on their panel.  All banks have a few valuers t…[Read more]

And this is where it becomes complicated.If you are renting out some rooms and still living there then, as Kenny says, you may lose your CGT exempt status.  If that is the case, your PPOR will be exempt only up until the time that you started renting it out – earlier this year.  You will have to pay CGT on any increase in value since the time y…[Read more]

nataliebranson wrote:
However, if you have 1-4 properties, this should be easy enough for one to maintain/manage/sell themselves. It is not that hard….

Until something goes wrong.  There are probably hundreds of posts on this forum about how managing a property yourself can go terribly wrong.  I congratulate you for being so proactive at s…[Read more]

Thanks KylieThat's a very clever tricky clause!  I have since found out that, while you can cool off in Qld, there is a cost penalty, albeit quite small.  I have also found out that you can use the and/or nominee addition, but there is a whole ream of paperwork, stat decs etc involved.  Your change of entity clause sounds much simpler.CheersK

Hi AnthonyThat was the deal that I gave you the details of earlier in the post.  Purchase price was $251,000 with a reno, subdivision and sale of the vacant block.K

Get the October Australian Property Investor.  There is an article on exactly this topic.CheersK

Come on ScottSurely you have been around long enough to know that agents don't act in the vendors' best interests; they act in their own best interests!  K

ouch!!  What an incredibly risky and silly thing to do for about 15 grand, which is probably all he would have made on the deal after stamp duty, legals and tax.K

And one more thing.  We settled today on the deal that I mentioned above and the total profit before GST was $117,000.  And this was a property that had been sitting on the market for about 6 weeks.  No-one else saw the potential. In fact it took us a while to realise just how profitable the deal was.  CheersK

Just on KYL's post, we also agree that building carries much higher risk, not to mention hassle and stress.  We recently subdivided and built three new homes on a development site and made no more money than if we had just sold the vacant blocks right at the beginning.  By far the majority of money in the deal was in the subdivision of the l…[Read more]

Beware of standard building inspections.  I know that in some states (NT for one) all a building inspection does is check that the building complies with Council requirements.  It doesn't check that things are in working order, quality of the build, salt damp etc.  I also recommend that you get your building and pest inspection clauses written up…[Read more]

Hi ajsc79I have my own little turf in Adelaide so I am not going to disclose where I do my deals.  One of the benefits of doing what we do where we do it is that there we have a really good relationship with the local real estate agents and I normally get the first call.  The lack of serious competiton enables us to sit back and really look at t…[Read more]

I'm in Adelaide also

Even if you didn't buy the property at a bargain price, there is still nothing you can do.  Your solicitor is right – what you sign up to buy is what you get.  If some of those things happened between the time you signed the contract and the date of settlement, then you would have some recourse, but you have no evidence of that.I wouldn't even b…[Read more]

ajsc79We have just finalised a deal, with settlement tomorrow, that we bought in January 09.  It was a relatively straightforward subdivision and reno of the existing housePurchase price   $250,000purchase costs   $10,000  subdivision          $20,000reno                       $45,000holding                 $15,0…[Read more]