Tara,

I agree with Terry’s point.

Why sell? You can always just redraw and use those proceeds to invest.

Tax deduction is still available and you are not uprooted from your home.

Regards,

Steve McKnight

Hi Corey,

Lots of questions here – what I plan to do is address them in the next newsletter that I write.

However, for the time being I can say that there is a pre-GST lease in place until 2004.

I have purchased the property in a trust / company structure, which is registered for GST.

Loan is with the NAB based on either 70% or 80%LVR (still…[Read more]

Hi,

Re: Qld property

I had to cut a chq for $18,000 for stamp duty on 21 units I purchased in Qld for $530,000 before settlement – which is not until October!

This was news to me as in Vic. stamp duty is payable on settlement.

Just another reminder about the different laws in different States and the everlasting education as a property…[Read more]

Hi,

I understand the nature of this uncertainty and cannot provide any hard and fast rules, except to say:

1. There is no tax law that specifically deals with wraps, and as such the information available is subject to opinion based on other the nearest legislation and case law.

2. In tax you need to establish a reasonably arguable position.

As…[Read more]

Simone,

It’s true… it is difficult to comment on what you are doing wrong when you don’t provide an outline of what you are doing.

However, if it is of any comfort to you, I look for properties in regional rather than CBD areas.

The question is not ‘do these properties exist’, rather it is ‘where do they exist’.

Try searching the Internet at…[Read more]

Good morning,

WOW! This forum is only a day old and already there is plenty of great information. Thanks to everyone who is already contributing.

As far as the role play for this first post goes, here are the answers to some of the questions that have been asked so far:

Light Industrial?

When I inspected the property in the early afternoon…[Read more]

Hi Mark,

Congrats. You are the first one to the forum.

This will be a good exercise for you since you haven’t purchased property before and I think you are on the right track.

To answer your questions…

Asking Price

$50,000

It is currently tenanted on a month to month basis at $120 per week. Tenants have good references, but there is no…[Read more]