This is something I am wondering also – I’m surprised it hasn’t been discussed more here.

As there is no new contract at the end of the wrap when title officially passes, I would imagine the new stamp duty couldn’t be due then – it must be due when the Instalment Sales contract is drawn up, at the start. However I am no lawyer (yet -…[Read more]

I would imagine that the new stamp duty would be due when the Instalment Sales Contract is signed.

That is, a wrapper would pay the normal stamp duty on purchase (calculated on the price at which they purchased the property), as well as the new stamp duty (calculated on the price they onsold the property at) – as long as their markup was 12%…[Read more]

More Sydnesiders here than I thought – thought this forum was dominated by Victorians!…

I’m in Beecroft, northern Sydney (by far the best city in the world! =PP)

-Nick

The CGT is calculated based on the number of years you rented the place vs. lived in it. In your case since it would be 14 years as PPOR and 1 year as IP you would only pay CGT on 1/15 of the gain. Mind you its not as simply as that, you would need to get an accountant to work it out, however it would be roughly that amount.

-Nick

You can’t use the FHOG unless you intend living in the property. However, your wrap purchaser can use the FHOG as part of the deposit they pay you. All they need to do is fill out your details under the ‘who to pay’ section of the form (in NSW)

-Nick

Can you explain where the loophole is, because I thought you had to have ‘entered into a contract for the purchase of a home’ to qualify – can 12 month year old kids enter into a contract to purchase a home?

I once spoke to an accountant who recommended I change my address with the RTA for a couple of weeks so I would qualify for the…[Read more]

I subscribe to a number of local newspapers which come in the mail… generally you need to approach the publisher for a subscription. If you are looking in Sydney then http://www.cumberlandnewspapergroup.com.au/ and http://www.fcnonline.com.au/fcnnetwork.asp?sydney have a list, and http://www.ruralpresssales.com.au/ seems to have a…[Read more]

I have found it quite interesting
-Nick

-nick

-Nick

Depending on what type of transaction you are looking at doing, it may not matter whether the population is declining or not. For example if you are wrapping there is a good chance that you won’t ever need to worry about…[Read more]

I have enjoyed immensely reading this post.

I am the first uni student who is willing to admit it I’m studing Finance/Law. I also work part time in a Stockbroking firm and have previously worked in Banking. Currently studying property and trust law which sounds a lot more interesting than it is!

-Nick

-Nick

Is that $1.05 million? Wow – well it depends on your attitude toward debt and how leveraged you want to be – if you used it for multiple property deposits then you certainly have the opportunity to make huge gains, but perhaps you could look at going for a 60 or 70% lvr on some higher capital growth properties (which might be +cf at…[Read more]

Very inspiring mate, and congratulations. I’m sure lots of people, myself included, would love to hear your story…

-Nick

Welcome to the forum.

I’m sure you will find most of what you need to get started in Wealth Guardian… although it is unlikely anyone will tell you the “right” way to set up a trust because there isn’t one!

Broadly speaking there are three main types of trusts (that I am aware of):
a) Discretionary trusts
b) Unit trusts
c) Hybrid…[Read more]

Why do you need to sell it? My advise would be not to sell it just because you have decided you want to go +cf… There may be room for a negatively geared property in the portfolio if:

a) There are high rates of potential Capital growth in the area (thus potential to borrow against it for +cf properties – remember you can personally…[Read more]

Lots of questions…all which generally have the same answer, that is – depends on your investing goals!

Kristine:

quote:what is a CGT Event

Put very simply, it’s caused by a change in legal ownership of an asset (shares, property…etc)

mcdeyess:

quote:Can I ask where your information was sourced?

Wealth Guardian is a good…[Read more]

Your question on structuring really depends on your current financial situation and your investment goals. However…

quote:company with a trust fund or just a company or neither

The three structures you mention:
1. Company as trustee – this is the best structure according to Steve’s Wealth Guardian because it allows asset…[Read more]

Make sure you have another reason for setting up a family trust other than to save tax – the ATO scrutinises people who don’t appear to have any other reason for it.

Maybe a better idea would be to distribute some of the trust’s income to yourself as well.

-Nick

i live in sydney and would be interested in meeting up…

-nick

Fantastic idea…It’s very disappointing to read about media coverage after it’s already happened!…

So while I’m at it…the Money section of the SMH this morning had an article on positive cashflow investing in which Steve was quoted amoungst others…

-Nick

The rent you receive most definitely must go into your super fund if it is owned by the fund. Since you can’t borrow to invest via an SMSF the tax (15%) you will pay will be income minus management and maintenance expenses.

-Nick

Any entity (including individuals, trusts or companies) that are carrying out a business and that have annual turnover in excess of $50,000 a year must register for GST. Otherwise it is optional. For more info check out http://help.abr.gov.au/content.asp?doc=/content/17576.htm&placement=ABH/OTH/GPO&usertype=BC

You become registered…[Read more]

I’ve spent countless hours building cities with this game and you’re right – it is cool. As technology has improved it has more realistically represented urban development as it is in reality. There are lessons for property investors in terms of the ‘what constitutes a good area’ question. A good area in Simcity, for example…[Read more]

If you are looking for capital growth then the kellyville/rouse hill area still has some way to go in my opinion. However, there are many conflicting views about the area – I listened with interest to John Edwards from Residex who is convinced that the terrible infrastructure, small blocks of land, bad housing design and lack of…[Read more]

Check out http://www.financewraps.asn.au/
http://www.positivecashflow.com.au/
and of course https://www.propertyinvesting.com/strategies/wraps

-Nick

“Be courageous enough to act immediately…and never be afraid to dare” – Mark Fisher

Why not just try out some ads in local papers. They cost all of about $20 per week and you will immediately get the answer to your question It really depends on the demand for this type of finance in the area you are considering.

-Nick

“Be courageous enough to act immediately…do not be afraid to Dare” – Mark Fisher

The 11 second solution says that if you take the rent, divide by two and multiply by 1000, this is the maximum you should pay for the property. So in answer to your question it’s the purchase price not the amount borrowed that’s important.

-Nick

“Be courageous enough to act immediately…do not be afraid to Dare” – Mark Fisher

For buy and holds, there are ways to reduce vacancy in your own properties that many landlord’s don’t consider doing.

While vacancy should be a minor consideration for b+h properties I personally would prefer to focus on cashflow because I know there are ways – both on the property side (eg. improvements) and on the tenant side (eg.…[Read more]

Grace – I don’t believe registration is required.

Look forward to seeing people there. Look out for me – I’ll probably be the youngest guy there

-Nick

“Be courageous enough to act immediately…do not be afraid to Dare” – Mark Fisher

Awesome story and a great inspiration for all us other youngsters (im 20) to get going now!

I look forward to reading more of your posts in future.

-Nick

“Be courageous enough to act immediately…do not be afraid to Dare” – Mark Fisher

I want to throw in my 2 cents about how cool it would be to have a Sydney social group. I know they have something similar going in Melbourne and Brisbane so COME ON Sydney people!!!

-Nick

quote:An eligible home must be occupied by the applicant(s) as their principal place of residence within 12 months of completion of construction or settlement of the home

-Nick

I use a spreadsheet that I have put together, which has both a buy+hold and wrap deal analysis sheet… I find it easy to use, but then I made it so maybe it takes some getting used to…

Anyway if you would like a copy email me at walkernick@optusnet.com.au

Cheers
-Nick

I am also a Uni student who is starting a property portfolio.

quote:I’ve heard of the First Home Buyer’s Grant, but would that apply to non-residential properties such as a vacant block?

The FHOG only applies to owner-occupiers. I have done a lot of research here and found the system to be quite unfair in that, if you go on the…[Read more]

All I know is very low vacancy, rapid turnover of cheap properties, and not many that are +cf left.

-Nick

quote:all th loans which I have gone guarantor for have not shown up on my CRAA…..
My loan applications are though

What is the difference though? Does your CRAA look different if its a loan application vs an actual loan??

-Nick

You’ll find some discussion about unlimited finance at https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=1635

Cheers
-Nick

Henry Kaye seems to have taught his NII telemarketers some good sales skills too… I attended a free seminar on the weekend, and was offered a form to fill in for a free consulation with a senior manager at NII, as well as a free 6 month subscription to Wealthcreator.

On the advice of people on this forum, I decided not to go for…[Read more]

I have been looking in the Maitland/Cessnock/Kurri Kurri area outside of Newcastle and it has seen phenomenal growth over the past year especially in the low price ranges…it’s very hard to find positive cashflow properties there anymore. However if you are looking for capital growth, the Hunter area has good prospects because of…[Read more]

The best way to make a complaint about the police is to write to or call the Ombudsmand or Commissioner of Police.

-Nick

Oops – didn’t check that post before I pressed send!! They valued it significantly below the purchase price

-Nick

Can I just say I’m really enjoying reading about the different people on this forum! Great idea this Leigh…

I’ll keep mine short, but I’m Nick, 20 years old and studying Finance/Law at university in Sydney. I almost purchased my first property (b+h) using my parent’s equity for security about 2 months ago. Luckily for me, the…[Read more]

thanks for your responses. they confirm the sentiments that i was having during the seminar…

the example given was the more ambitious one presented in the seminar – the other example was to charge $100 more rent and offer 5% of the equity…

the thing is, the presenter was saying that these equity leases easily make sydney property…[Read more]

You legend! People like you make this forum so great

Thanks
-Nick

Thank you for replying, it’s really appreciated.

Just to clarify – when you talk about the percentage premiums, are these percentages on the entire mortage amount – or just on the amount that exceeds 80% LVR?

Terry, I look forward to hearing from you on Tuesday. My email is walkernick@hotmail.com if that is more…[Read more]

Thanks for posting up that list, it was an interesting read!

Being 19 and having many friends that rent, I know a lot of people with terribly uncooperative landlords.

Remember that just as we are learning how to get the best deal for us, tenants have every right to negotiate a good deal for them. While it is true that the title of…[Read more]

Well done that’s a fantastic achievement to get the ball rolling so to speak.

Are you talking about the mid north coast of NSW?

Regards
Nick