Hi to all,
I’m a new member, and wanted advice on a few things if possible.
Before I ask the questions, I should add that I am looking to buy in the Brisbane South suburbs, and am looking to renovate and sell, not rent. I feel I have a good head for searching out the right property and good at seting and sticking to a budget. I will be looking to do this full time, so would expect a good turn-around time:
1) As a private indidvidual investing in property, are there restrictions in the amount of properties you can own, or buy and sell in any financial year?
2) As a private individual, and with regards to GST/Capital Gains, what is teh most ‘savvy’ way of purchasing and selling?
3) Are there any tips you couild give me re legal costs and real estate costs
4) Should I always look at mortgaging the properties, or are there less risk/cost effective ways in some other way of financing?
5) Auctions – to buy or sell. Are they a genuine opportunity, or just another outlet for a real estate agent to make you believe they are?
6) All other general advice gratefully received!
Thanks in advance….[biggrin]
25 readers but not one reply?! Can anyone help?
Hmmm dont expect toooo much too quick.There are guys who will answer your questions but you have to be patient.
1.I dont think there are any limits on what you own and sell.The more the better .That way the government gets more tax out of you.
2.Ask a proffesional.Remember to get the most out of any investment you need a team of people.People you can get advice from,acountant,lawyer,parent,wife,sister etc.
3.You have to do your homework on figures.Ask your team.Accountant RE agent etc.
4.Financing property is up to the imagination.Read “Nothing Down” by Robert G Allen.
Its an eye opener.
5.Read # 4.
6.Read everything you can get your hands on.And do it daily.Evans,
they’re all BIG questions – and discussed regularly across various forums.
Do some research and you’ll be able to answer all of them yourself.
Cheers,
Aceyducey
Are you planning to be an “owner builder”? If so check out the qld building services authority for some info. My understanding if you are owner buildering (excuse the grammar) you can only hold a permit once every 6 years – might slow you down a bit.
Good luck
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