Hi Karen,

Thanks for your post and welcome to the PropertyInvesting.com community.

Sometimes there is no need to sell, since that will trigger sale costs (such as real estate agents fees) and also capital gains tax will be payable.

An alternative idea may be to renovate (spend the $4k) and then seek to have the property revalued and…[Read more]

Hi,

I’ll have a stab at your questions…

quote:1) Does anyone know if we pay land tax on vendor finance deals in NSW?

I don’t know specifically for NSW, but in Victoria there is a form that the client signs to say they have beneficial owndership. The effect is that because it is a residential house, there is no Land Tax payable. I suggest…[Read more]

Sooshie,

Love the story… a free wealth assessment in the comfort of your own home.

Did you ask how many properties he owned?

Thanks for the contribution! Great post.

Bye

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

OK – for some time now I have been contemplating a policy that covers the issue of selling second hand product on this forum.

First let me say that this site was never designed to be an information product type ‘e-bay’.

However, I do respect your right to sell second hand goods.

What I suggest you do is put it up for sale on E-Bay with the…[Read more]

Hi,

Sounds very interesting.

You’d want to think about rules for getting money out if someone no longers wants to be a part of the set up.

You’d probably set it up via a unit trust.

The success of the venture would depend on attracting people who were like minded.

But it’s different and I quite like it as a concept.

Bye

Steve…[Read more]

Hi,

My policy is this:

Blood is thicker than water and it’s hopeless to try and clean up blood with plastic money… it only causes a bigger mess.

Unless you can come to a commercial understanding, don’t mix them. Friends are worth more than money.

Bye

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

Looks like you are either going to hold off, or alternatively buy Rick’s product.

My Wrap Library has been so popular that it has sold out.

I plan to do a major edit and then release a 2003 edition. Hopefully it will be ready by the end of March.

I respect Rick as a fellow investor. We both see the benefit itn wraps but approach the…[Read more]

Hi,

You ask:

quote:How does it feel to have wrapped 40 properties

OK, I guess. It was hard work to set them up but now they are in the cashflow stage, it is quite simple. You just need to be on the ball when some people fall behind.

quote:I need to know how it feels when the wraps are all bedded down. Do purchasers ring 3 times a week with…

[Read more]

Hi,

You can usually glen this information from rates notices. Just ask the purchaser for a copy, or you might like to call the council. They may or may not tell you depending on what their privacy policy is.

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi Oscar,

What happened on the weekend?

Bye

Steve McKnight

**********
Remember that success comes from doing things differently.
**********

Hi,

Insurances over a property investment include:

1. Mortgage insurance- payable depending how much yuo borrow. Paid once at the start of the loan.

2. House- covers the building from fire etc.

3. Contents- if you are providing furnishings then you might like to have them covered. Might also like to consider insuring glass breakage,…[Read more]

Hi,

My experience is that the valuation fee is part of the application fee. This is then payable at the time of settlement when all the money is being divvied up.

Bye

Steve McKnight

**********
Remember that success comes from doing things differently.
**********

Hi,

The answer is to start looking.

Maybe you could get some stats for median house prices of your state branch of the Real Estate Institute where you live.

Alternatively go to the REIA… they sell data for all States.

Bye

Steve McKnight

**********
Remember that success comes from doing things differently.
**********

Hi,

For more info on wraps, visit:

https://www.propertyinvesting.com/strategies/wraps

Bye

Steve McKnight

**********
Remember that success comes from doing things differently.
**********

Ok,

I’m no lawyer… but my understanding (at least in Vic. anyway) was that you could by a property ‘and or nominee’ with the intention of setting up a company and there was no double stamp duty. This avoids the need to incur a cost before beginning.

However I know this flexibility is not available in Qld… the structure must be set up first.…[Read more]

Hi,

Thanks for your post and welcome to the community []

Please note this is NOT financial advice.

If you wanted to invest indirectly in property then you might like to explore the idea of listed (on the Stock Exchange) property trusts.

This would allow you to invest in property and also have liquidity if you decided to sell.

Alternatively,…[Read more]

Hi,

quote:A bank is a place where where they lend you an umbrella in fair weather and ask for it back when it begins to rain

What a gem of a saying! And how true.

My advice… don’t confuse a lifestyle decision with an investing decision.

If you want to own a home then that is an emotive decision, not an investing decision. The reverse is…[Read more]

Hilary,

Please e-mail me the details and I will post them here for all to see.

Thanks,

Steve McKnight
steve@propertyinvesting.com

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Remember that success comes from doing things differently.
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Hi Sooshie,

Hope you’re enjoying this heat [8D].

I gave Brent a project to do a few weeks ago which was to look at foreign investment in:

*Australia
*US
*Canada
*UK

He is currently doing the research and we hope to publish the information on the site by mid Feb.

Cheers,

Steve McKnight

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Remember that success comes from doing things…[Read more]

Hi,

Welcome to the community and good on your for having the courage to make a post. Thanks also for your kind words.

I have the time for one quick post…

Re: loan provider…

You may find that your existing lender will be happy to help you out, but I would certanily shop around.

The equity that you have allows you to redraw against it to…[Read more]