Bluegrass, will it? Most reno is non-structural/aesthetic hence has a quicker depreciation timeframe. Could always be money for jam.

You will find that most investors will rely on a 'professional' for their conveyancing. It is generally not worth their time to do all of the legwork (esp when it forms part of the cost base). It may pay to do a short course at evening college (if one is available) to make you aware of all of the responsibilities, the requisitiions that you are…[Read more]

It depends upon how much you want to pay for the property. What the property is worth, what other similar properties are worth? Is it better or worse than these properties.

To start in the industry you will need to get a certificate III from Tafe or OTEN. Best place to start is often in residential working for a local real estate agent as a receptionist. Duties will include answering phones and directing queries to sales/leasing staff, preparing the weekly available properties lists and some other duties like taking…[Read more]

Two little areas to consider:How will you split the water bill (or other bills), esp when you have tenants coming & going/vacancies?Will $50 per month cover the cleaner's costs? You will need to consider how often you will have the cleaner attend, the duties of the cleaner (bathrooms, common areas, bedrooms etc).Any consideration for lawn mowing?

You are buying a property with a higher and better use than the current improvements, you will not be buying a 'bargain' but you will be buying a site with development potential. It is to be expected that other properties adjacent to yours may be developed before you do any works to the site. You could make enquiries with council with regards to…[Read more]

Once you are living together you would most likely no longer qualify for the FHBG, so you may have to make a move sooner rather than later. Also the FHBG starts to taper down from Sept 09 so there is more pressure to make a purchase asap to take up any benefit.

Sounds like a good buy D even though the area is a little rough around the edges, esp around 'blood alley' but areas do change over time.Plenty of other good spots even slightly further afield esp around Kingswood/Penrith. Still on the rail line & access to major shopping centres.

If it was not income generating, then there is no point submitting an amended tax return for those years. What you can do now is offset all  of the holding costs against the sale price ie selling price less (purchase, stamp duty, rates, land tax, insurance, grass cutting etc). This may reduce the amount that you are to pay for capital gains tax…[Read more]

Ben, sorry to rain on your parade but… if a room is not a habitable room as defined in the Building Code of Australia, then it cannot be used as a living space. The main requirements for habitable rooms are: ceiling height of 2400mm, adequate lighting (10% of floor area to be glazed/borrowed light), adequate ventilation (5% of floor area to be…[Read more]

This is a question which would relate to your tax situation:If you have substantial savings available to enable the outright purchase of a property then you should consider your risk profile – ie do you put all of your eggs in one basket or do you purchase 3 or more properties with that equity hence spreading your risk? How much do you borrow…[Read more]

check the ATO website but it would include having the services connected in your name, being registered to vote at that address etc

Do an online title search – it will cost you a few $ but if you are interested in the sites a worthwhile expense. Your solicitor does one when you purchase as well as just prior to settlement.

Local knowledge is one thing however there is something called the net nowadays. Most tenants find properties this way, so location for the agent is no longer an issue – it is the signboard & Domain.Using a single agency gives you a little discount on your management fees as well as simplicity in recieving one statement for all properties. You may…[Read more]

Still in the same general area, possibly a shade cheaper but with just as much (or more) demand – somewhere around Greenwich/St Leonards/Crows Nest ie close to either RNSH/North Shore Private Hospital or the Mater Hospital. It would provide an alternative to the few hotels in the area (Greenwich Inn & Ibis).Best size – depends on who your research…[Read more]

That'd make for an interesting read Terry.

Jaffa, that is incredible. How dare you lie to an RE professional. They are caring & sharing people with families to feed. The mere fact that you have admitted in an open forum that you have misled this individual shows how sorry about what you have done and you should rush out and fess up about it. I am certain that no REA would intentionally…[Read more]

Research is your only way out here. Go past each of the agents on a Saturday, pick up their listing sheets, check local & regional newspaper adverts and check out the competition. It won't give you a vacancy rate but it will give you a fair idea of how many vacant properties there is on the day. As for determining the vacancy rate, you will need…[Read more]

For many inner city Sydney properties, I'd be expecting sale within 10% of the guide otherwise, the agent is not being honest (ha ha) with the punters.

Forever (or until the ATO changes its mind).