great thread.

been looking to buy in redfern for ages, particularly great buckingham st. missed out and have finally bought in surry hills.

still studying redfern and hope to buy something there when the right deal comes along. may even look at a property in the seedier side with hope of CG when the gentrification process kicks in.

do you guys…[Read more]

thanks minimogul and spider,

kids are a little way away btw

looking at 2 properties in paddo atm – one requires a fair bit of work and the other no work – approx $150k between the 2 both in good streets. big call in some ways – eg no work one sounds goods but how do we add value to it, knowing that paddo capital gain will be flattish over the…[Read more]

hi guys,

just thought id bump this to top again and hope for a few more comments

cheers,

julie

hi spider,

i wish my budget stretched to $1.5mill – saw an awesome house not that long ago on forbes st, darlo for that price

really looking at entry level paddo – nice street, sub 150sq mt block, no carpark at sub $1mill pricepoint, possibly less depending on level of renovation required. of course this pricepoint in surry hills will buy a…[Read more]

thanks for the replies so far

hoping to hear more from others with experience or thoughts of the area.

between surry/darlo and paddo there must be a minimum of $200k difference for similar houses.

i guess what im really trying trying to determine is whether the extra $200k for paddo is justifiable long term or whether the feel is that…[Read more]

thanks for all the feedback

as im looking at a terrace house atm, i appreciate what heritage listings are all about.

having said that, i dont mind the conservative outside facade (thats one of the appeals for me) but internally im a 100% contemporary sort of person and plan to do major works to this place if successful(think dr who ). my other…[Read more]

what does a syd carpark cost? $50k?

what are typical outgoing costs and how much will a bank lend for and against a carspace?

also, whats capital gains like on carspots?

as you can see, i know nothing about them but curious?

regards,

julie

thanks liz for your contribution. my thinking was the same as yours from day 1. we are working towards getting something before 1 july as i know the laws will be changing surprised it was released like this in the first place to tell you the truth.

never thought we were were eligible for the $7k as hubby bought may ’00 interesting article…[Read more]

not saying anything really other than read that article in the daily tele and tell me what you think?

julie

Liz,

firstly, thank for taking the time to answer my question. i have gotten my husband involved in helping me respond

the reason i believe im not eligible for fhog is because we would fail pt 2 of the eligibility criteria – ie, my husband owns an ip purchased pre july 2001. the reason i believe im eligible for the first homeplus is because we…[Read more]

Liz,

im with you 100% in respect to the “owned and occupied” part but bear in mind this provision relates to the first home plus concessions which relates only to stamp duty concessions. the 7k on the other hand relates to FHOG which does not make the distinction from “owned” vs “owned and occupied”.

for this reason, initially it was my…[Read more]

Originally posted by Baloo:
We use a Macquarie CMT for our Trust account.

Hi markymark,

why macquarie CMT? would this be the best option for a smsf too?

julie

sadly, i think im between a 2-3 Somthing im going to have to work on

julie

hi gramyre,

this is a great post and i’m very keen to see the responses.

i think my situation is very similar to yours and plan to take a similar course of action.

wealth creation and tax minimisation being my 2 main drivers

good luck

julie

great pointers jason.

more of the cheque book renovator type myself but found your post most informative. might get a little more involved in future

julie

im with redwing

it is my understanding that the the fhog and First Home Plus (stamp duty concessions) are very independent and eligibility criterias are different.

best to visit office of state revenue website and read up on the 2.

julie

be careful with this 6yr rule for although it continues to apply, my understanding is that under the new mini-budget it will now be subject to land tax, hence not as attractive as what it use to be.

julie

Originally posted by mysta:
In Lewisham, the owners of a four-bedroom house knocked back a bid of $950,000 in October and put the property back on the market with an asking price of $995,000. It is now listed for $839,000 after it was passed in at $810,000 last month.

please tell me we are not talking about 12 The Boulevarde? If so, im thinking…[Read more]

thanks skippygirl for some real life experiences

regards,

julie

if i do a building inspection on an ip as part of my due diligence but dont end up buying the property, can i claim the cost of the inspection?

julie