PropertyInvesting.com | PC_Melbourne | Activity https://www.propertyinvesting.com/members/pc_melbourne/activity/ Activity feed for PC_Melbourne. Sun, 12 Apr 2026 07:28:00 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 aa66427df73c0250d29cec1ab0591902 PC_Melbourne replied to the topic 2 Investment Properties, not working so no income - where is my tax benefit? in the forum Help Needed! https://www.propertyinvesting.com/topic/4401427-2-investment-properties-not-working-so-no-income-where-is-my-tax-benefit/#post-4633650 Fri, 08 Oct 2010 22:07:06 +0000 Should clarify that family trusts are if the scenario is you run your own business for profit distribution only.
Can’t do that if your drawing a PAYG salary and is only a general tax minimization suggestion on overall income.
Again as I dont have enough info to be specific just offering up ideas.

All scenarios should be run through a proper tax…[Read more]

]]> 603b986cf177db6ea6d200e5b80d2a8b PC_Melbourne replied to the topic Melb Western suburs for IP in the forum General Property https://www.propertyinvesting.com/topic/4401435-melb-western-suburs-for-ip/#post-4633678 Fri, 08 Oct 2010 20:46:03 +0000 We targeted the western belt of Melbourne also as our investment spot from Newport –> Sunshine. That was approx 16 months ago, and back then you could still get decent property for $350-$600K. Today the prices have shot up somewhat. I think Sunshine might be your best bet.

For 340K you will find 1 bed apartments, real small 2 bed apartments, and…[Read more]

]]> aca7b4fd93052c3c15e689d08473a793 PC_Melbourne replied to the topic 2 Investment Properties, not working so no income - where is my tax benefit? in the forum Help Needed! https://www.propertyinvesting.com/topic/4401427-2-investment-properties-not-working-so-no-income-where-is-my-tax-benefit/#post-4633648 Fri, 08 Oct 2010 20:37:57 +0000 Hello there. You have not provided enough information to comment properly e.g. How much income does the household bring in, do you rent the investments and are they positive and do you accrue a healthy amount of savings interest?

This is not necessarily comments just for property. More so overall tax minimization.
Suggestions are still based on a…[Read more]

]]> 56e12f6c2335ba2c0de93104b7ebeb89 PC_Melbourne replied to the topic Newbie to Propery Investing with a 'what would you do?' question. in the forum Help Needed! https://www.propertyinvesting.com/topic/4401375-newbie-to-propery-investing-with-a-what-would-you-do-question/#post-4633303 Sun, 03 Oct 2010 20:22:43 +0000 We can tell you what we would do or specifically what we did in the same situation with roughly the same money.

– Buy a 1 Bedroom Unit, that is approx 10-15KM from a major city that is at least 50squares. = Buy this outright or as close to it as possible for $185K. The Unit you purchase should return a rental income of at least $180-220 per…[Read more]

]]> e1d593aab135b287a50ad999cdd1d835 PC_Melbourne replied to the topic Help/Idea/Thoughts needed in the forum Help Needed! https://www.propertyinvesting.com/topic/4401212-helpideathoughts-needed/#post-4631966 Wed, 29 Sep 2010 03:57:05 +0000 Hello there.
Sounds like we have a similar profile then. Same salary (yours is a little more) also in Melbourne.

Anyways we invested in property for the same reasons that you are doing it now.
To cut a long story short we now have 5 properties and pay 1% tax (well for this year anyway)
We opted for the western belt of Melbourne as the best…[Read more]

]]> b598d51dfa830e7574ac77f4768fe388 PC_Melbourne replied to the topic Lessons Learned this Settlement in the forum General Property https://www.propertyinvesting.com/topic/4401234-lessons-learned-this-settlement/#post-4632067 Tue, 28 Sep 2010 09:35:38 +0000 Hey guys.
Been away on leave.
email me if you want material. I have written up a bunch of notes to clarify property purchasing.
pcheung@customersystems.com.au

I will email you what I have.

]]> cf700b906536780e38f74c10eaa1951e PC_Melbourne replied to the topic Restumping and leveling a renovated home in the forum Value Adding https://www.propertyinvesting.com/topic/4401332-restumping-and-leveling-a-renovated-home/#post-4632666 Tue, 28 Sep 2010 09:22:27 +0000 Hey There,

My Neighbor just restumped thier entire 3 bedroom house for a grand total of $6200
I have no idea if this good, but I would err on the side that this is an awesome price based on the fact that I hunted for a tradie to restump just my water damaged bathroom. Of 3 official quotes the lowest price I got wuz $6000 (seriously water damaged…[Read more]

]]> acf10b6c849c73387bdde20eebb7fd46 PC_Melbourne replied to the topic Lessons Learned this Settlement in the forum General Property https://www.propertyinvesting.com/topic/4401234-lessons-learned-this-settlement/#post-4632064 Fri, 17 Sep 2010 11:06:43 +0000 Totally agree. Banks cannot be trusted on any level to assist properly from giving answers to processing paperwork to sending packages on time. It doesn’t help that the banks usually don’t talk to the buyer during settlement, they only want to talk to solicitors which complicates the matter even further.

This time round I spoke to a dozen…[Read more]

]]> 6eedf16d6a9da7721eaca09619631d03 PC_Melbourne replied to the topic investment software review in the forum Help Needed! https://www.propertyinvesting.com/topic/4401223-investment-software-review/#post-4632000 Thu, 16 Sep 2010 08:39:32 +0000 I bought PIA didn’t help. Never tried Posh
I ended up building my own property management system.
Would love to show you but have not worked out how to put images into this forum yet.

]]> 28a9976f12340846a72a91fde074a7d4 PC_Melbourne replied to the topic Keep? Sell in the forum Help Needed! https://www.propertyinvesting.com/topic/4400926-keep-sell/#post-4630144 Fri, 20 Aug 2010 07:03:38 +0000 Your math is too simplistic to make the judgement right now.

Things that I would do if I were you.
Check with a few agents in the area, and get feedback as to what your place will sell for.
Specifically nominate in your mind what you want for it if sold now and check if it is viable with the agents in your area based on todays market.

Get an…[Read more]

]]> 50a0cc8aa9b0a526357cd61bc5c50259 PC_Melbourne replied to the topic Construction vs brand new built home. in the forum Creative Investing https://www.propertyinvesting.com/topic/4399520-construction-vs-brand-new-built-home/#post-4622137 Tue, 10 Aug 2010 20:34:58 +0000 AndrewH wrote:
What is better/cheaper and if cheaper how much more cheaper. If i search for a peace of land Obtain a construction loan allocate builders/brick layers etc. Once its all built Sell it, and pay off the bank and keep the profit for the next investment.Am i missing something here?Whats the ups and downs I dont care about the running…[Read more]

]]> 5f1a038eb95ae4ed2314dfee73d86507 PC_Melbourne replied to the topic Company or Trust for Investment Property in the forum Help Needed! https://www.propertyinvesting.com/topic/4400837-company-or-trust-for-investment-property/#post-4629634 Tue, 10 Aug 2010 19:32:41 +0000 If your objective is tax savings, then buy it in your name, as your name is where the salary lands and where the income tax occurs.
If your objective is to minimize your tax, then focusing on expenses will do little to dent the tax you pay.

From what I understand, as long as the property is earning an income, the expenses are deductible on that…[Read more]

]]> 69c6b3665739214e7511df4e1d8f5f70 PC_Melbourne replied to the topic Advice sort in the forum Help Needed! https://www.propertyinvesting.com/topic/4400796-advice-sort/#post-4629451 Sun, 08 Aug 2010 22:02:36 +0000 Catalyst wrote:

PC_Melbourne wrote:
Well we only started last year. Can give you our opinions on these topics: 1) Using Investment Companies – Not a big fan. Heard stories of companies going under and taking investor $$$ with them. Generally prefer to be in control my own money and decisions. 2) Big fan of off the plan purchases (Plenty of…[Read more]

]]> 3bb3f0bf7903456a04f6a99e4878194d PC_Melbourne replied to the topic Does adding a pool add value? in the forum Value Adding https://www.propertyinvesting.com/topic/4400722-does-adding-a-pool-add-value/#post-4629077 Sun, 08 Aug 2010 03:04:34 +0000 We just crossed the same bridge for our property in Melbourne.
We were originally looking a simple water feature, but then we figured why not make the water feature functional too.
We battled with Pool vs Spa, but pools just wound up too expensive. The cheapest we could find after some serious bargain hunting was approx 20-25K for a small plunge…[Read more]

]]> 28ef5d920c7b491e364beb130ec2228d PC_Melbourne replied to the topic Advice sort in the forum Help Needed! https://www.propertyinvesting.com/topic/4400796-advice-sort/#post-4629447 Fri, 06 Aug 2010 12:57:30 +0000 Well we only started last year.
Can give you our opinions on these topics:

1) Using Investment Companies – Not a big fan. Heard stories of companies going under and taking investor $$$ with them. Generally prefer to be in control my own money and decisions.

2) Big fan of off the plan purchases (Plenty of research and careful buying of course)
-…[Read more]

]]> 186fc7afacd44c497bb79c4c58965a99 PC_Melbourne replied to the topic Capital Gains Tax exemption in the forum Help Needed! https://www.propertyinvesting.com/topic/4400780-capital-gains-tax-exemption/#post-4629368 Thu, 05 Aug 2010 08:02:52 +0000 Technically if you moved out, and it has not earned a dollar since you moved out.
It has never been rented, and therefore never been an Investment Property.
As long as you have not purchased another PPOR then this one is still your PPOR? and therefore CGT exempt anyway.

If you don’t mind me asking. What is the suburb? I find it incredible that 2…[Read more]

]]> e847d31009ddcc5182bd3e2f00bd7483 PC_Melbourne replied to the topic Who to see first- Accountant, Solicitor, Financial Advisor??? in the forum Help Needed! https://www.propertyinvesting.com/topic/4400728-who-to-see-first-accountant-solicitor-financial-advisor/#post-4629104 Sun, 01 Aug 2010 12:37:57 +0000 domma55 wrote:
Thanks for the comments,I have a basic plan in that i'm after a 3 to 4 bedroom house in Palmerston, NT.  I have narrowed it down to a few suberbs which i have been monitoring for probably six months or so and know the areas well. I intend to make it my  PPOR.   I'm not interested in auctions at this stage.   I will be getting pre…[Read more]

]]> fb44303512481bc3494757229d9a6721 PC_Melbourne replied to the topic Who to see first- Accountant, Solicitor, Financial Advisor??? in the forum Help Needed! https://www.propertyinvesting.com/topic/4400728-who-to-see-first-accountant-solicitor-financial-advisor/#post-4629102 Sun, 01 Aug 2010 11:28:02 +0000 Pre Preparations
– Have Conveyancer
– Know that you can get finance.

When you make the offer, and assuming vendor accepts.
You sign a contract of sale – On the contract of sale you need to nominate your conveyancer.

Would be wise if you had pre-approval sorted in writing from the lender.

If you sign the contract on an established house, the…[Read more]

]]> b41707a8d8ca34525ac1ef1546c1f1a5 PC_Melbourne replied to the topic Landscaping to Add Value to Property in the forum Value Adding https://www.propertyinvesting.com/topic/4400586-landscaping-to-add-value-to-property/#post-4628207 Thu, 29 Jul 2010 06:36:32 +0000 Thanks guys. There are reasons to the madness.
The house is built on a new estate on a semi slope peak. Very muddy, and quite steep from the house to the boundary of the garden.

I had the option of doing a cheap landscape, but that would really just entail a fence with back garden that had a way steep slope. Whilst the cost of the landscape would…[Read more]

]]> b72037e5bfc9e25b53782f82889e01f7 PC_Melbourne replied to the topic Help for new member in the forum There really isn't enough https://www.propertyinvesting.com/topic/4400658-help-for-new-member/#post-4628637 Sat, 24 Jul 2010 09:38:36 +0000 There really isn’t enough info here, but starting numbers on a $250K property would be approx:

– Deposit – 20% = $50,000
– Stamp Duty – Varies by State – I’ll use Vics just for Jollies = $10,070.00 (Will also vary depending on whether you buy off plan or establshed)
– Conveyancing Fees – $400 – $600

Starting numbers to aim for is probably $62K…[Read more]

]]> 9433a3e5ac18dba13609272177bb581e PC_Melbourne replied to the topic One bedroom Reno Help Required in the forum Help Needed! https://www.propertyinvesting.com/topic/4400334-one-bedroom-reno-help-required/page/2/#post-4626826 Fri, 23 Jul 2010 22:34:17 +0000 reddahaydn wrote:
Hey Guys,I'm looking at a major reno on  a one bedroom unit. I'm just wondering if anyone has done anything like this and some idea's on pricing and timelines?I'm thinkin this place will need to be gutted, new plaster, floor coverings, kitchen and bathroom and lighting.I will do painting and other odd's and ends. Is there any…[Read more]

]]> f292b801c2db0801924f5af59675b3bd PC_Melbourne replied to the topic Is my tax accountant charging too much? in the forum Help Needed! https://www.propertyinvesting.com/topic/4400654-is-my-tax-accountant-charging-too-much/#post-4628612 Fri, 23 Jul 2010 21:36:40 +0000 Sounds a bit high for what you got.
We pay about the same – $1500
But in that, he is doing returns for 3 companies, 2 individuals, 4 IP’s.
To us he is worth every penny, very consultative when it comes to our property plans, and most creative when it comes to strategic money handling. This fin year alone, he has helped us achieve a 1% income tax…[Read more]

]]> d0303ffcb10bbcc1f1b8e1e8faf0974d PC_Melbourne replied to the topic Off The Plan Purchase in Southbank Melb in the forum Help Needed! https://www.propertyinvesting.com/topic/4400646-off-the-plan-purchase-in-southbank-melb/#post-4628533 Fri, 23 Jul 2010 03:05:18 +0000 For $550K you could probably still find 3bed house townhouse in the western belt of Melbourne
Newport –> Spotswood –> Yarraville –> Brooklyn –>Seddon

Houses, Land, Good appreciation, low rental vacancies.

We are all for apartments, but for $500+ would be looking at either an old house on big land or new townhouse on smaller land.

Just an…

]]> c8f3a8268fef7c81ad67940509f0560b PC_Melbourne replied to the topic What to do? in the forum Help Needed! https://www.propertyinvesting.com/topic/4400622-what-to-do-34/#post-4628379 Tue, 20 Jul 2010 23:46:23 +0000 Just shared experiences sir.

1) One name is always simpler than 2. For us anyway.
2) CGT is applicable on all things sold, but CGT is calculated on the basis profit. With transfers, market value is difficult to ascertain, unless an official audit takes place with a standalone valuer. It is equally as easy to shop around for a valuer that values…[Read more]

]]> 608a958797f85e3aaab8bfef62dcb989 PC_Melbourne replied to the topic Home Loans - Whose Best? - Big Banks? Or Building Societies/Credit Unions???? in the forum Help Needed! https://www.propertyinvesting.com/topic/4400613-home-loans-whose-best-big-banks-or-building-societiescredit-unions/#post-4628340 Tue, 20 Jul 2010 21:27:02 +0000 propertymistro wrote:
Hi all,Great Forum! For a home loan, is it generally better to go with one of the big banks or with a building society/credit union?  Also, who generally are the most leanient lenders, in terms of the amount they will lend – big banks or building societies/big banks?Thanks in advance…

We have found pro’s and con’s with…[Read more]

]]> 728e8507b228603cfe8b559161fb3fd5 PC_Melbourne replied to the topic What to do? in the forum Help Needed! https://www.propertyinvesting.com/topic/4400622-what-to-do-34/#post-4628377 Tue, 20 Jul 2010 21:19:09 +0000 MattG536 wrote:
Hi, I’m new here and to the concept of IP…I know my wife has asked a few questions also (Libra76)  Q1 – Is it better to buy an IP in both names or just in mine for the TAX advantage (hers is about 15% and mine is 38%) I know it seems like it would be better in mine only up until when we sell the property and capital gains tax w…[Read more]

]]> 793ddd47e1917a32809e1af097233f56 PC_Melbourne replied to the topic Why do we shun student accomodation? in the forum Help Needed! https://www.propertyinvesting.com/topic/4400592-why-do-we-shun-student-accomodation/#post-4628259 Sun, 18 Jul 2010 07:55:46 +0000 the_kurniawans wrote:
Thank you PC_Melbourne. So your friend received no capital gain at all, even though I'm sure the rent should go up. Well, at least he's got neutral geared property, or a CF+ property?

Well I was really referring to the base price. With Stamps it would obviously be a tad more money.
I understand it rents for $200 PW
The…[Read more]

]]> 4e80aa306231ed80feae3ae991a510ac PC_Melbourne replied to the topic Why do we shun student accomodation? in the forum Help Needed! https://www.propertyinvesting.com/topic/4400592-why-do-we-shun-student-accomodation/#post-4628256 Sun, 18 Jul 2010 05:18:46 +0000 the_kurniawans wrote:
Hi PC_Melbourne,Which apartment did your friend own? You can message me personally if you hesitate to mention it in the forum.

Yeah, I found it. Called Unisity in Footscray Melbourne. i think it sits near a campus for Vic Uni.
I also looked at getting one of these, but when I saw how many were being advertised it scared…[Read more]

]]> 796803583416475ac29caf33410151e3 PC_Melbourne replied to the topic Why do we shun student accomodation? in the forum Help Needed! https://www.propertyinvesting.com/topic/4400592-why-do-we-shun-student-accomodation/#post-4628255 Sun, 18 Jul 2010 05:13:49 +0000 Dunno the formal name for it. Heres the link –

http://www.realestateview.com.au/portal/search?rm=search&P=1&ptr=r&con=S&portalview=residential&portalsection=buy&sub=footscray+VIC+3011,&sur=&prl=0&prh=0&pt=&bel=1&beh=1&bal=0&bah=0&view_alert_email=

Its the Grey Building with a Red Line Design through it on Gordon St in Footscray Melbourne..
By my…[Read more]

]]> 47578c0d24c2a2768fe8d117496322b1 PC_Melbourne replied to the topic Why do we shun student accomodation? in the forum Help Needed! https://www.propertyinvesting.com/topic/4400592-why-do-we-shun-student-accomodation/#post-4628252 Sun, 18 Jul 2010 04:49:52 +0000 One of my colleagues has Student accommodation in Melbourne.
He paid 138k for it 2-3 years ago.
Today he can pick-up the same sized unit in the same building for $130K – 135K
It got cashflow positive fairly quick though, and he has no intention of selling it as yet, but its certainly not growing in value real quick.

]]> 3911df08510638c494c7448869ada265 PC_Melbourne replied to the topic Are Destiny Financial Services the real deal? in the forum Help Needed! https://www.propertyinvesting.com/topic/4400591-are-destiny-financial-services-the-real-deal/#post-4628236 Sun, 18 Jul 2010 00:12:11 +0000 We met with the last year also with the Melbourne office, and found that the fees were too high for the service provided.
Ended up doing all research, math and decisions ourselves. Much clearer for it.

]]> eca14b501b4c9883b01b26b9e9f04188 PC_Melbourne replied to the topic How do you go about your research? in the forum Help Needed! https://www.propertyinvesting.com/topic/4399379-how-do-you-go-about-your-research/page/2/#post-4621116 Sat, 17 Jul 2010 04:14:34 +0000 PC_Melbourne wrote:

brisbaneJosh wrote:
Great comments PC_Melbourne.  Your approach seems pretty similar to the approach I would like to take!  Certainly a lot of good advice on this thread for Hendrick2.Good on you for giving it a go….Just a couple of quick questions if you don't mind!1) What level of deposit were you putting down for e…[Read more]

]]> 5cfd01578e786f6f9ae819567edf52c5 PC_Melbourne replied to the topic How do you go about your research? in the forum Help Needed! https://www.propertyinvesting.com/topic/4399379-how-do-you-go-about-your-research/page/2/#post-4621115 Sat, 17 Jul 2010 04:02:07 +0000 brisbaneJosh wrote:
Great comments PC_Melbourne.  Your approach seems pretty similar to the approach I would like to take!  Certainly a lot of good advice on this thread for Hendrick2.Good on you for giving it a go….Just a couple of quick questions if you don't mind!1) What level of deposit were you putting down for each?2) What finance s…[Read more]

]]> 916924a6c11d56d39bf40179b983a32a PC_Melbourne replied to the topic How do you go about your research? in the forum Help Needed! https://www.propertyinvesting.com/topic/4399379-how-do-you-go-about-your-research/page/2/#post-4621114 Sat, 17 Jul 2010 03:56:05 +0000 Intrigue wrote:
PCMelbourne….. what is this PAYG Variation = 1% tax?

If you can forecast the expenses on your investment property portfolio then you can apply to the ATO for a PAYG variation.
For instance on our properties i listed all expenses, forecasted all negative gearing numbers + all depreciation for this financial year.
All numbers…[Read more]

]]> 5d209ca248d18dc14222b0ea6fad5b11 PC_Melbourne replied to the topic Caveats in the forum Help Needed! https://www.propertyinvesting.com/topic/4395629-caveats-2/#post-4600587 Thu, 15 Jul 2010 20:55:24 +0000 Hello There,
This scenario happened to a friend of mine last month.
If your absolutely sure that he has no grounds to your house, then this is what she did to solve.
– Spoke to bank, found out about the Caveat, and was as suprised as you
– The bank advised her to to write a stat dec and submit to govt office (Sorry I cannot remember which office…[Read more]

]]> 6b9d46977e518ebf3e11b974edcc4277 PC_Melbourne replied to the topic How do you go about your research? in the forum Help Needed! https://www.propertyinvesting.com/topic/4399379-how-do-you-go-about-your-research/#post-4621109 Thu, 15 Jul 2010 08:13:13 +0000 Hello Hendrick2,
Replying a bit late, but I hope I can help. We were in your position in Feb of 2009. We had a whole bunch of money tucked away with the intention of doing something, but could never work out how because everything was all too hard. Below is our process:

0) Initially found Internet Listings & went to see properties for a month,…[Read more]

]]> e4d0d73be03a5312001345aa30b05fb1 PC_Melbourne replied to the topic I need to access equity, but i dont meet the banks loan servicing requirements, to get a Line of Credit in the forum - Sell your PPOR so you get https://www.propertyinvesting.com/topic/4400547-i-need-to-access-equity-but-i-dont-meet-the-banks-loan-servicing-requirements-to-get-a-line-of-credit/#post-4628009 Wed, 14 Jul 2010 21:29:10 +0000 – Sell your PPOR so you get financial relief without paying CGT
– Work with another lender, non banks work well for not so strict valuations.
– Apply for the PAYG Variation to get more money in per pay. That always helps.

]]> df71d06d556bc8e925255a0b63a33555 PC_Melbourne replied to the topic WealthScore.... How Did You Go? in the forum General Property https://www.propertyinvesting.com/topic/4390643-wealthscore-how-did-you-go/page/7/#post-4573214 Tue, 13 Jul 2010 10:24:15 +0000 3321. I guess thats quite good.
Don’t believe it in the slightest though. With that much liquidity, i’m sure we would spend stupidly and squander it in a few years

]]> 9e3b1c1b8aad10339018a8d8a65b62f9 PC_Melbourne replied to the topic SERIOUS HELP NEEDED PLEEEASE in the forum Help Needed! https://www.propertyinvesting.com/topic/4400535-serious-help-needed-pleeease/#post-4627917 Mon, 12 Jul 2010 04:14:41 +0000 We were in your position Feb of last year, and bought our first IP aswell. I had to research like a dog to understand what was happening.

Suggested Research & Reading
– Buy copies of API Magazine & YourInvestmentProperty Magazine. Motza pearls of wisdom there.
– Internet Lookups on getting finance in general are very helpful or ‘Finance…[Read more]

]]> a7349894ac84ae4f5701da65b758839a PC_Melbourne replied to the topic SERIOUS HELP NEEDED PLEEEASE in the forum Help Needed! https://www.propertyinvesting.com/topic/4400535-serious-help-needed-pleeease/#post-4627915 Mon, 12 Jul 2010 03:43:06 +0000 Is the house owned in both names or just one of you?

Financially speaking, if you both earn 40-50K per annum, that would be approx $90K PA, you should be able to afford another property.

We were in your position not so long ago. We have about the same income as you guys do, and are settling on our 4th property next month ish.. (Whenever it…[Read more]

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