Thanks maximus.

I will look at Beenleigh as well.

Thanks for all your responses and suggestions.

Firstly I will be looking at Redlandshire and if I can’t find any, i will look at the Logan area.
Dince I live in NSW, reno is out of my reach.

Pusstes, would you mind telling us why your buyer’ agent selected Hillcrest.
Is it becuase of the yield , vacancy rate or CG ?

Thanks

RoyTas

You ca get those data from Property Investor Magazine, Property & Life Style (QLD) magazie and also from REIQ as well

aussierogue

Nobody likes ATO auditing.
Do you ?
Someone who had been audited, said ‘They (ato tax men) are bxxtxxd’. Even though you didn’t do anything wrong, you won’t feel comfortablw with them.

Sorry
correction

He also said most old houses (> 20 years old) will be in high category.

Thanks very much wilandel and tom1000000

I really appreciated all your advices.

Actually , the property is currently tennated and will be -ve geared.

Asking Price : $300K (been on the market for 8 weeks)
The agent said “since tennated and leased until Jan 2004, it is difficult to sell it to owner occupiers”

I offered : $265K
Owner said : $275K

I offered again : $267K
Owner said : $270K and all mine
I agreed : $270K

Land : 700 sqm (Level Block)

House : Brick Veneer (4BR, Main BR has ensuite and WIR,
other rooms has BIRs, 2nd toilet and 2nd Bath Room
Double Locked up Garage)
170 sqm floor area

Age : 7 years and 8 months, only 1 owner

Area : Leafy street and quiet, Cul-de-sac, mins drive to the bay and schools and shops

Lease : 230 $/week, owner did not increase the rent since it is good tennants.
if re-rented, 250$/week can be achieved.

I can not find any 4Br Brick Veneer house in Wellington Point for that price.
Even 3BR Brick veneer houses in the same and similar conditions and area
are selling for 270K – 310K range.

Any more advices please ?

Thanks

AD

My current strategy is to buy and hold

Thanks

111111

Hi Allyman

I am also from Sydney. Last year, I went to Brisbane and purchased an IP there.

There were a few holiday apartments (in Cairns) advertised in Property Investor Magazine
For instance, Cameron Birds’ How to retire wealty. Most of the properties he recommends, are -ve geared and +ve cash flow.

If I can find out that Cairns is definitely going to boom, I might travel there.

[]
111111

AD

****************************************
I am both of those and I purchase through a structure to minimise the tax and maximise the protection. Even if I had to pay max tax…..I’m still making money.
****************************************

I presume you set up a family trust to minimise the tax. I beleive it is to minimise the INCOME TAX.

In that case, you will be paying the income tax at 30% (ie. compayny tax rate) opposed to the personal income tax.

But, when you sell your property, what happens to the CGT rate?

I beleive there is no discount on CGT when the property was first purchased thru family trust.
(I mean you can have a 50% discount on CGT when the property was first purchased individually by your name.

This may result in a huge tax bill when you sell the property purchased thru trusts.

Is it right ?

[]

111111