Steven replied to the topic Had a conversation with my tax accountant about Melbourne property in the forum Help Needed! 1 hour, 32 minutes ago
The suggestion given today is that with Melbourne CBD never have a shortage of Overseas Uni Students, especially Chinese Overseas Students, rental increase has been solid for years and the demand for such “student accommodation” will not die down any time soon.
So the option of “buy a ‘student accomidation’ and then rent only to Chiense…[Read more]
Steven replied to the topic Potentially considering a deal, seek assistance from experienced investors in the forum Help Needed! 3 hours, 2 minutes ago
A few questions.
How high is vacancy rate would you consider to be “very high”?
While I understand what you say when you said “If you are looking to build a strong portfolio you need capital growth”, but how do I avoid the situation of “I buy the next property and then I run out of money” if the ROI is not satisfactory?
I mean capital…[Read more]
Steven replied to the topic Had a conversation with my tax accountant about Melbourne property in the forum Help Needed! 4 hours, 34 minutes ago
Some of the opinions she offered, such as “buy apartments rather than House” and “people are starting to not prefer big land as generations go on”, are quite against many suggestions I learned from experienced property investors.
So I am interested in hearing from experienced property investors as what they think of opinions…[Read more]
Steven started the topic Had a conversation with my tax accountant about Melbourne property in the forum Help Needed! 5 hours, 7 minutes ago
I thought I’d share a conversation I had with my tax accountant.
The tax accountant has been servicing my parents for over 20 years. Previously I used to do tax myself but since I now have investment property of my own, I prefer to have an accountant to do my tax so naturally my parents made referrals.
The accountant, having nearly 30 years of…[Read more]
Steven replied to the topic Potentially considering a deal, seek assistance from experienced investors in the forum Help Needed! 9 hours, 17 minutes ago
Forgot to mention a few more things:
I had a look at the map, locationwise, it looks OK. 3 minute drive to regional city’s shopping centre. There is also a train station within 5 minutes drive away, which connects this city to capital city. Nearby schools are also within 5 minutes driving distance.
One thing that raises another question mark in…[Read more]
Steven started the topic Potentially considering a deal, seek assistance from experienced investors in the forum Help Needed! 9 hours, 36 minutes ago
Question for experienced investors who happen to be looking at this forum.
Came across a property that is listed as a distress sale. It is a 3B2B property with over 600 SQM land. When I rang the Agent I was told the property is “fully renovated”. Not sure how much to trust into that.
Also was told the vendor are going through some financial…[Read more]
Perhaps this comes off as something silly, but are stamp duties considered as cost when calculating CGT?
For example, if I buy a property at 1M, and at 5.5%, this comes of to 5.5k stamp duty.
Suppose if I sell that property for 1.2M, then is my CGT based on 200K (1.2-1 = 200K) or based on 145K (1.2-1-stamp duty = 145K)?
Steven replied to the topic Impact of Chinese Property Buyer Restrictions on Australian Real Estate Market in the forum Help Needed! 2 weeks, 2 days ago
If Australian Government truly wants phase out overseas investors, they can do what Canada government did… by charging 15% or more foreign buyer tax….
Don’t think Australian Government would resort to doing that any time soon.
The area is Vermont.
RE.com says median price is 555K, but if I drill down into “sales history”, I can see similar sized units gets sold ranging from 500-700K. The 2 most recent sales all hit up to 700K, while the rest just really…[Read more]
Thank you very much for the good explanation.
To answer some of the question you asked. No, truth be told, I was pretty sure I bought above market value.
I myself was actually not so interested in buying that property (it is the 2 bedroom unit I spoke about in another thread), and back then in October-November last year, my family was…[Read more]
No, I did not request for the valuation.
I simply spoke to my broker about refinancing my investment loan from my current bank to a lender which he has contact to for a lower interest rate. (my current bank offers 5.1% IO while the lender — which is not a bank — introduced by broker is offering 4.4%)
The property was purchased for…[Read more]
As part of refinance process, my broker obtain a valuation report from Heron Todd White.
The report shows photoes being taken both outside and inside the property only a few days ago and a valuation figure that suggested within the past 8 months or so, the property is now valued at 50K above how much I paid for it.
I was like “wow”, that’s…[Read more]
Thank you very much Corey
The broken has assured me at least for the past 4 years, they have not increased the interest rate for this product. He also explained that not everybody gets exactly the same interest rate. For example, user A may sign up with this product with a rate of 4.5%, and user B may sign up with this product at a later time…[Read more]
I attended the workshop earlier this week. It was 2 hours instead of 3, and I agree, she is a great presenter.
She didn’t dive too deeply into the how to execute her strategy part, but that’s expected as the amount of details will probably take hours of days to cover.
I didn’t sign up the $6K course though, not because I think it is…[Read more]
What does “honeymoon product” refer to? When you say a product is “honeymoon product”, are you refering to packages with ridiculously low interest rate in the beginning and the rate will hike after a short while? Does that mean the concern raised by Corey does not apply to Horizon product offered by Resimac?
The amount being…[Read more]
I just looked at the document I was given. The product is called “horizon <= 80 LVR Standard Var & Loc Inv”.
Are you able to tell the nature of such a loan by looking at this product name? Does it look like one of those “lender special” loans that will experience rate hike later on?
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