not_so_lucky wrote:
Thank you all!!!

I've contacted a few accountants and they all recommend I see a different person … or do they?

These are the people they suggested I see, are they al the same???

property surveyor
independent valuer
quantity surveyer
property valuer

One of them suggested this…[Read more]

grimnar wrote:
Sounds like a tough one…

Maybe talk to a property valuer, and see if you can get them to do a retrospective desktop valuation based on comparable sales, using data from 10 years ago.

It may be a long shot, but If yes then you'll get your valuation. If no, then you've only lost some time and the cost of a phone call.

But a…[Read more]

Jamie M wrote:

Terryw wrote:

RPI wrote:
One old boy I know, who has 10's of millions of commercial property, probably more.

His advice was to always pay down one.  Your own house first, then your oldest IP and so on.  This guy has been buying investment property for over 50 years.  The problem is the tight old bugger won't spend any of his…[Read more]

RPI wrote:
One old boy I know, who has 10's of millions of commercial property, probably more.

His advice was to always pay down one.  Your own house first, then your oldest IP and so on.  This guy has been buying investment property for over 50 years.  The problem is the tight old bugger won't spend any of his money.  He'll be dead in 10…[Read more]

If you want to find out who owns a particular property go to the land titles website in the state of the property. Cost about $10

Lawyers can't even estimate their own costs, so they wouldn't be able to help.

With tax you have to substantiate your claims. If you don't have receipts then I don't think there is much scope for estimating the costs. This is why it is important to keep all receipts for all properties for ever – even after you have died as your heirs will have an…[Read more]

Possibly, depending on a few things. Speak to your accountant before doing anything.

Nigel, that is exactly what happened with me. I've done one property deal where I lost money and it was because I didn't do any DD. Just let a friend build a project for me which blew out with costs and time.

Good analogy about the holiday brochures/websites too – much different when you actually get there.

Mikko wrote:
Just another thing, I salary sacrifice $120 into Super every week. Would you guys recommend continuing to do so? Or would it be more beneficial to me to save and invest the money elsewhere?

This is imposisble to answer and would depend on many variables:
1. Your age
2. your income
3. return in your superfund
4. your risk of going…[Read more]

Sounds like you haven't got a lawyer. Saving money on a lawyer will likely cost you a lot more in the long run.

What does your lawyer say?

ha ha funny people are like that. I knew a guy who spend about 4 hours ringing around to buy a camera and to save a few $$$. Then he went out to buy a juice shop and did not DD at all and just paid the advertising price too. Within months the business had failed.

learner101 wrote:
Hi guys – I have a similar question. I have a PPOR, Have just offered and am sourcing finance  on a second property. Initially it will be investment but plan to move into it in a few years when current PPOR will turn into a rental.Should this second property be under a trust or private name?

Trust owned properties do not get…[Read more]

No need to limit yourself to Brisbane.

Wow, I don't buy magazines normally but will have to get a copy of that one. Australia's No1 (both of em) property coaches.

There is a great aussie site out there with heaps of free excel spreadsheets – can't remember what it was called now

Nothing to lose in calling.

Inflexible.

Can achieve the same wit a trust with much greater flexibility.

Best to see a lawyer before you sign.

MosicLandscapes wrote:
All dd has been done. This is a good, sound deal. Just need to work out how to utilize VF (and if it is even worth it). Can I use VF to develop a block of land, paying any remaining money after all blocks are sold? 

Y
es it is  possible. Just borrow the deposit from the vendor. He will want to take a second mortgage over…[Read more]