Forum Replies Created
Hi,
Thanks a lot for your informative response. I will enquire at a few agencies to compare rates, it seems the best bet.
I don't think I'd ever attempt to find my own tenant, I'd always outsourse to an agent. Its just the management of the property that I would be happy to do. This is because the property is fairly new, and nothing, as yet, has needed to be fixed. The only expenses so far are council, water etc.
Thanks for your help
Thanks for all the advice. I would usually avoid property managers and do the work myself, but am heading overseas to live.
Thanks again
Hi mate,
Thanks for the reply. Properties are in Adelaide
Any recommendations of good agencies would be very much appreciated
Thanks
5% seems low in comparison. The property I'm talking about is in Adelaide, not far from the CBD.
Personally, I think the agents are making a killing. The property is only 10 years old and would require little maintenance. I'm going to try and negotiate down as much as possible.
Thanks for the help all
Hi PP,
It is a property 5 kms out of the city (Adelaide). So I will negotiate on that basis. Anything else? I guess easy maintenance since the property isn't very old and is in good condition also.
I have looked at rates with other property managers, but it all depends on the rent they can actually get. I would guess sometimes the agencies that charge a higher % would be able to achieve a higher rent. Also, is it better to sign up to an agency that has a big rent roll?
Thanks
Great thread! I need to refresh my economic knowledge. But if the world was to go into recession, what effect would that have on interest rates? I think it will reduce the rates to entice investment, is this correct? I guess this is what has happened in the US.
I agree that the Australian economy is growing very strongly, but you can't ignore whats happening in the US and the ultimate effect it may have on us.
Does anyone have any forecasts for interest rates?
In my experience, Real estate agents don't earn their fees and are slack .
If you call them, they'll get your details, put them on record. This will tell them the demand for housing ie. How many people looking to buy. If you check out the site, they won't actually have this record.
Or they are just slack.
Great for Adelaide. Had a bit of a look at the market in general, but looking at a property in Brompton at the moment, not far from Prospect Moose. The property I'm looking at is a standard 3 br house about 350sqm 7 yrs old. The suburb does contain lots of old houses, and there are many new houses in the area being built – will this increase the value over the next 5 years or so? It is about 10 mins drive from Adelaide city.
You'll pay less tax if the gain is declared a capital gain rather than revenue because if held for more than a year you will receive a 50% discount on the profit(unless your a company).
It doesn't matter if it is your only source of income, but if you're in the business of buying and selling properties. Is it a one off? or have you done this a few times in the past year or 2, do you intend to do it again over the next 2 years?
If it is a frequent act, then you would be declared to be in the business of it. In this case the income and expenses would be declared to be ordinary as opposed to CGT
Is it possible to put up a sound proofing wall outside the property?
I understand it takes about 2 weeks
I'd suggest to do it in your individual names, setup a common law partnership. Businesses generally go for the company structure to get the 30% flat tax rate. If you hold a property for longer than a year in your own names (rather than a company), you will have access to the 50% discount on the capital gain (not available for companies). This may result in a lot of tax savings in the long run, given that most property investments are negatively geared, the advantage of the 30% tax rate isn't that much anyway.
Over 15 years the property value growth will be a lot, and thus that 50% discount may come in very handy.
Thanks a lot for your advice. I was a bit over confident in my rent estimate. I think it is more like $275 a week for a property priced in the low 300's.
Anyone in Adelaide who can shed some light on the current market?
Thanks again
I think its a decent idea. Although doesn’t the gold coast already have an oversupply of apartments.
Sounds similar or like an alternativer to a care facility – I guess without the care but everything else provided. Older people don’t want to worry about the complexity of costs, and thus will be a good alternative to a care facility. I guess when they get older, and need care they can simply move out.
Hi again,
Thanks for the great replies!!!
I thought 6% was decent. It is from SA, and most properties (houses) close to Adelaide offer 5% or less, but I guess you get the capital growth with that. I will ask other agents, good idea!!! Im sure there must have been capital growth, I think the agent must be wrong about that. Is there anyway I can see what the property last sold for? I know it is public record, and you have to pay, but is there anyway I can get it for free? Or do I get this info from the agent?
Thanks
