I wouldn't say it's impossible, and there are certainly people that do it. It really depends on how you value your time and what a satisfactory ROI is for you.Let's say you buy a place for $300K, spend a month and $20K renovating it, and sell it again for $360K (which I would think would be optimistic).Your costs would be:stamp duty $9KREA…[Read more]

James, I've just realised this is probably the same property purchase that you've posted about several times before, where problems showed up after building and pest inspections, and where there was a dispute about the date that you had to complete them by. Last I heard you were saying that there was no binding contract because you hadn't agreed…[Read more]

If it's cashflow positive, and not causing you problems, I'd almost always hold. I'd turn it around ask: Why would you sell?

Get another broker who'll help you do what you want to do, not what your broker thinks you should do.If your income will still allow mortgage servicability, take out a personal loan for your deposit on the next property.See if you can manufacture some equity in your existing IP by doing some improvement – add a garage if there isn't one, add a…[Read more]

Since settlement date is a moving target, I don't think that's going to give you an out. If it said "prior to 9th of February" then you would have an out, but I believe the vendors can delay settlement for up to a certain period (14 days?) without penalty. As long as the caveats are gone on the day that they're ultimately ready to settle, I think…[Read more]

With regards to the deposit, it would depend on what the contract conditions were with regard to the deposit; be very careful that you don't lose what you've already paid for breaching.You should definitely seek urgent legal advice. There's a big difference between a requirement for title to transfer without the caveats – which is what I suspect…[Read more]

Ask your solicitor, but I would assume it is dealt with like Council rates, being apportioned according to what proportion of the year each owner has the property, and accounted for at settlement.

Thanks, Jon, for your thoughtful response. I do agree that auctions may be a useful tool at the higher end; the disadvantages of auctions are less likely to be significant for these properties.I agree that people attempting to use building inspections to get the price down is dubious. I don't know why people think they have a right to buy a 50…[Read more]

Jon Chown wrote:
The question most often asked after an auction by people who refuse to go to auctions is.   How much did it sell for? to which, once they have been told the selling price, they usually reply.   Is that all, I would have paid more.   We all know that this is an outright lie and if it isn't, then they just missed out on an excel…[Read more]

Ian Landy wrote:
Just wondering how other people are passing on the added costs of the recent rises in Interest rates.

Um, we aren't.  Where did you get the idea that you can do that?

Ian Landy wrote:
Guess I just have to absorb the extra costs and hope I can make it up in rising Capital gains.

Yes, that's why we invest.

I'm with Terryw. What lilyhutch proposed is FRAUD. Not worth risking jail when there are legitimate ways to achieve tax deductibility.

I found this on their website:CHAN & NAYLOR PERTH Level 1, 251 Hay street EAST PERTH WA 6004Phone: 08 9467 7509Fax:     08 9221 5533

The difference between Marc's and my views depends on how significant your depreciation deductions are. I confess I probably under-claim depreciation so he may be correct. Does anybody know how significant depreciation deductions on a 20yo house would likely be?

Forget the things that stay the same – eg you'll get capital growth on the Canberra property CGT-free either way (provided you maintain Canberra as your PPR), and make the mortgage payments, either way.So, the things that change are (assuming 30% marginal tax rate):* you start paying $250 in non-deductible rent – after tax – $250* you start…[Read more]

Try and get 2 x $30K personal loans. Or 3 x $20K credit cards.

wealth4life.com wrote:
I have recorded that which was told to me and asked a question on a public forum

  No, you stated "his newsletter states he has been an accountant for 25 years when our research shows this is not the case at all". (The grammatically dubious question mark that you put after it doesn't convert this statement to a que…[Read more]

The difference between a big deal and a small deal is mostly numbers… Given that the majority of educated investments are profitable, why not go for a bigger deal? Good for you; go for it, and make sure you keep working the numbers and that the profit is there; my only caution would be not to assume that because you're "doing it" you'll make a…[Read more]

Do you want a valuation that you can use to refinance, or an appraisal for your own interest?

I'm not seeing the benefit for the vendor. I'm with Jon and SNM that this just sounds like any other RE agent, with a new marketing strategy. I don't get it.

Good on you, Ed, for your very calm and polite response. wealth4life.com, alluding that you've done research that shows that Ed's statement of >25 years as an accountant is untrue, without providing that research, is really unfair to Ed. He has no chance to reply and defend himself, and explain where your information is wrong (if it is) eg &q…[Read more]