Just remember Sweet, property isn’t the only method of investing. To have such enthusiasm is great, but if the numbers don’t match up, you may be better to put your cash in a term deposit until the day they do.

All the best,

Mark.

Regards,

Mark.

Some mighty fine points there – Thanks for the response….
Thankfully it is a mining town in question, and it has just committed to another 30 Years Lease with the land owners.This makes it a bit more appealing. Have sent out the feelers to try and learn more.

Have a great weekend,

Mark [biggrin]

From what Ive seen and heard, with all of the attention heading upwards to Maroochydore and Noosa etc., there still seems to be a few bargains to be had at…[Read more]

Congratulations – You’ve got some exciting and memorable times ahead of you.
You both must be so happy and proud.

Buying your first house at 23 says a lot for your character mate,
there’s no doubting you’ll snap up that second one well before your 30.

All the best to you both,

Mark. [biggrin]

Sounds like apartments may come under the Commercial Property umbrella, and therefore require the 30% deposit.
From what I’ve seen, even in times of spectacualr increases in property prices, apartments tend not to be great in the capital growth stakes, but with a 30% deposit they tend to be positively geared. Just remember what it is…[Read more]

Not 100% myself, but I’m going to have a stab in the dark…..
I don’t think this would really be that different to a normal transaction

I’m guessing if they sold the property on the day they took possesion for it, they’d have to pay CGT on $999,999. I’m sure if they stuck the 30 years through they wouldn’t mind sitting on it for…[Read more]

Currently in a similar position also. These are a few of the things we’ve considered.

If you sell the block of land with a house on it after 12 months of living in it, it’ll cut out the CGT.
You’ve already paid the Stamp Duty on the land, and there’s a big differnce between this value and that on an established property.
If you sell…[Read more]

I’ve considered this option also, but remembering what myself and my friends were like when we were that age has somewhat deterred me from it.[biggrin]

Mark

Good to hear I’m on the right track and have been reading the right books. Still got a whole lot more to learn though.[biggrin].

Thanks for the article. Might have to read it a few more times to make sure it sticks, but I’m sure I won’t be the only one to get something from it.

Have a good one,

Mark

Don’t stress too much, I’m still trying o figure that one out myself [biggrin]

Regards,

Mark.

Thanks,

Mark.

Some of my mistakes;

Not having a plan,
Finally getting one and not doing anything to make it happen,
Not trusting my own instincts and research,
Buying lots of shiny things [biggrin]

Finally snapped out of it one day though…

Some of my wins;

Both myself and my wife worked 7 day weeks for a year to save for a deposit on our PPOR,…[Read more]

Thanks!

Good luck !

Will go and check it out. [biggrin]

Quick question about trusts etc…

I’m looking into establishing a Hybrid Disc. Trust, possibly with a Corporate Trustee added later, and am curious about deductable expenses, ie travel to IP’s etc. Can the trust claim these if you are a listed trustee?

I’ve focussed too much of my time previously on establihing a company, only to find…[Read more]

Might want to remember you are still purchasing a property to make money. If the market cools and prices fall, yes you can guarantee your client won’t exercise the option and you’ll be able to bank their fee for it, but will this cover the capital loss in the property purchased that you still owe?

During the downward trends, it may…[Read more]

Not too sure about your neck of the woods, but in the NT you cannot get rental insurance on commercial properties…

Something to think about anyway if it is a smaller business occupying the premises.

Good luck with it all,

Mark.

Any recommendations on where I can find out more about trusts etc or books/articles to read?

If I remember rightly, he made enough money from his first deal to avoid having to go to uni and to begin his career..

Mark.

You’ve landed here, so you’re doing something right. [exhappy]

I’d recommend to keep reading, researching, saving and always keep an eye out for potential deals.

The Rich Dad series of books by Robert Kyosaki are awesome. Start with Rich Dad, Poor Dad and then move on to Cashflow Quadrant. By the time you’ve finished these you’ll have…[Read more]

If you are happy with the research you have done,…[Read more]

All the best for these and your future ventures.

Mark

Depending on the detail you would like, there is a huge range of Software Packages available. A relatively basic package, from stores such as Harvey Norman, should set you back approximately $100. These should give you a rough idea on how the finished product will look from different elevations etc..

From there you can go up, up and…[Read more]