I have noticed when in WA recently that their is a lot of fencing that appears to be asbestos. Does anyone know what its made out of and is it costly to remove. It seems to be every where. Currently I am looking at WA property but the local agent seems a bit over relaxed about it. I was just thinking of any risk it may be to the tennant or…[Read more]
Hi Helen, Luckyone,
Q- What do they do?
They provide information about many different ways to invest in the property market. They provide support and motivation for you. They help you set your own plan for what type of investing suits your circumstances. The format is a one-hour mentoring call or mindset call on Monday night (recorded and can be…[Read more]
Often negetive comments are the result of a lack of knowledge of those offering it. If you have researched and conducted due diligence completely then you are armed to make an INFORMED decision. I myself recieve little support from family and friends regarding my property portflio (except hubby), so what!. When we purchased our first IP…[Read more]
It’s seems like a hard slog but it can be worth it!. We bought the classic “worst house in the best street”. A hard go but the time and money paid off. After 5 months we have an extra 50k of equity to now invest elsewere. Had the termite, strashed 3 layeres of carpet, bright yellow paint and multi-coloured tiles to overcome.- HANG IN THERE!! If…[Read more]
In the past when I’m looking at a property in a certain area I ask the local RE for a list of recently sold properties. They suscribe to a site that has the info (sorry I can’t recall the name). They will give it to you for free.
Also http://www.domain.com.au has a previous action results link within their site, although for smaller areas it rarely…[Read more]
Hi I ask these questions of my accountant all the time Note- I’m not a proffessional but I think-
* You must own the property for at least 12 months to claim a 50% CGT exemption.
* If the property is your PPOR for that time CGT exempt.
* if PPOR and IP it is pro-rated (as polar bear stated) to the proportion of the time it was an IP
You get good ones and you get bad, as they say a leopard rarely changes it’s spots. I’ve had a tenant call at 9.00pm to tell me, quite distressed that his dog escaped from the side fence and that he was an expensive pit bull (arn’t they illegal) and was quite “put out” when I reminded him that they rented under the contract of no pets allowed.
I too am looking at rural areas but assumed with a 20% deposit or equity in another property then location wouldn’t be too much of a problem. I will have to look into it.
If you have equity in another property you should be able to split the loan and add the new property to it at the same rate you are currently on.
Which Bank!!! ha ha
I,m sure the RE agent is quite comfortable with it. I wonder how little properties he/she manages.
Do holiday rental generally come with higher management fees? I only have residential IP’s and feel that the management fee level is OK
A neat little tool I found at the bookstore for getting a feel of a country town or to locate a particular street is-
UBD Australia Country Cities & Towns (Digital Mapping on CD-Rom) ISBN-0-7319-1320-5
Costs around $50.00
Also has some cool tools for working out distances between places within a town eg- distance between IP and…[Read more]
Being sorta new to investing in general, hense the “newbie” status, I think the key to any investing strategy is Education. My main motivation for starting my investment portfolio in property was the comfort that;
“Even though property can go up and go down, it can never actually become worth Zero.
In the future I intend to examine share…[Read more]
My understanding is that you pay CGT on the proportion if time the property is an “investment” ie 1 yr out of ten in your case.
So CGT= profit X 1/10th X your tax rate Divided by 2
Should give you an idea of CGT.