Yes, this used to be a problem. Some time ago when I did the research either the entity had to be set up, or there had to be the intention that the entity would be set up.I have a feeling now, that at least in Vic, so long as there is no financial gain in the nomination, it is not too much of an issue.  Not sure about other states though.In any e…[Read more]

Thanks for the question.The short answer is… 'yes', as interest rates come down, the conditions for a revival in the property market become more present.This is simply because people can buy more house for less money, and the difference between what it costs to rent and own decreases.Add to this the government's stimulus package for first home…[Read more]

There are definitely benefits of further education, and both the CA and CPA programs offer the opportunity to sharpen your accounting skills.I'm a CA, and even though I don't work in the industry as such any more, the ability to think through a financial issue in a logical and probelm solving manner is of great help.Gaining a professional…[Read more]

Hi Howardcm,Thanks for making your post.I'm not a great fan of doing a value add project on a unit in a complex, as external visual appeal contributes significantly to the emotion of the target buyer.For instance, if you reno the villa then you are probably adding value to the unrenovated ones as much as your own, as you increase their quality by…[Read more]

Great tip, thanks Luigi.Have you considered carpet? Or perhaps putting a floating foor on top of the old boards?Cheers,

Hopefully someone will step forth with a good word?

Good points. In regards to nomination, if you don't specify 'and/or nominee' at the time of purchase then to transfer later may result in double stamp duty.Regards,

Hi,The forums at PropertyInvesting.com enjoy a good search ranking with Google.Therefore, companies where their name or reputation is questioned will seek to protect that and engage their lawyers to threaten to take legal action unless posts are removed.We are in a difficult position, as we want to be an information source for the community, but…[Read more]

Hi James,
Thanks for your post, and thanks Terry for replying.
I receive a lot of requests for help and further information about trusts, so with this in mind I've drafted up a reasonably comprehensive answer that I hope helps members.
==========BUYING PROPERTY==========
Most people who buy property use a portion of their cash reserves to fund the…[Read more]

Hi James,Thanks for your post, and thanks Terry for replying.I receive a lot of requests for help and further information about trusts, so with this in mind I've drafted up a reasonably comprehensive answer that I hope helps members.==========BUYING PROPERTY==========Most people who buy property use a portion of their cash reserves to fund the…[Read more]

Be aware that Dean & Elise are working on Reno Toolbox II. It is still about 3 months away at the earliest though.

Hi,You should be able to buy the game from http://www.powwowevents.com.auThe -ve cashflow cards are there for those who want to speculate on growth. In the US, it is much easier to buy +ve cashflow properties, so why would you -ve gear? Things are different here as property prices are a lot higher relative to rents.That said, I made my fortune on the…[Read more]

If memory serves me correctly you have a number of years in which to live in your father's house and still be able to claim the RROP exemption against your own home. Quote from the ATO website: see link If you do use the dwelling to produce income – for example, you rent it out or it is available for rent – you can choose to treat it as your main…[Read more]

Hi,Normally when doing renos as a business, there is no capital gains as the entire profit is treated akin to business income (that is – like salary for businesses).When doing renos as a private investor you could probably do one or two every few years, but after that you would have an argument with the ATO to say you were not in the business of…[Read more]

Hi,If you're in WA and are looking to do renos in central Vic I have to ask why!?!If it's because properties look cheap then I would caution you to watch out against false economies. Trades in central vic can be hard to find and can be expensive. Furthermore, if you are trying to manage the job remotely then you will face additional time and…[Read more]

Gosh.That's a complicated and tricky question.Let me get this right… you want to buy a property off the plan using a deposit bond, and then you want to assign your right to purchase to a third party and then get them to take over your deposit bond, or get a new one?Hmmm.A couple of thoughts:1. Make sure you can assign the right to purchase in…[Read more]

Hi,Sites of this kind with a good tenant usually attract strong bids from institutional buyers.I would call the agent (and commercial agents in the area) to ask what yield similar properties have sold for.That said, agents are telling me commercial yields have softened over the past 6 months, but that there is not the volume of sales to confirm…[Read more]

Coming back to the question again….Who knows where the government is at with policy issues. I would have thought that Trading Emissions is a higher priority though, at least until interest rates rise further or we get closer to the next election.I am in favour of tweaking the tx rules on NG. My suggestion would be that you can no longer offset…[Read more]

Hi,I disagree about the deductability of interest on land.Provided the land was bought for investment purposes – that is, with the view to making a profit – then why wouldn't the interest be tax deductible?To quote from the tax ruling 6. The deductibility of interest is typically determined through an examination of the purpose of the borrowing…[Read more]

Hi,It's good to ask questions and I always encourage it.First up, with the start of the latest RESULTS program, a lot of my time is being spent writing materials and answering questions of late. You will notice though that I did a short 5 min video about my thoughts on the current property market.I'm also making good on some long awaited promises…[Read more]