Yes agree with the boys!!

Wow this is an old thread!!We've just sold this property for $239K and it settles tomorrow.  Just to good a deal to walk away from!Amanda

Sounds great Linda, luv to meet for lunch.  Drop me an email closer to the time!  How was the book?

I recently started a thread about this topic:https://www.propertyinvesting.com/forums/getting-technical/legal-accounting/4321062

As you know Milly Ipswich is THE place to live, work and invest !!Anni, Glad to hear that you're coming back to the best side of Aus. 

Hi Anni,Where abouts are you?Things seemed to have warmed up a little now, but still a few frosts around.

I'm of the view that your investing "style" really depends on your personal situation, taking into consideration issues such as  time, cash flow and family.  What works for one person may not suit another.  Also as your experience increases you tend to broaden your investing style.  So I'd suggest you start small, keep reading and researching and…[Read more]

Hi Lisa,Glad we could help out.  Depreciation Schedule/Asset register……you've just given me an idea for another spreadsheet I can work on, or perhaps it would be better done in Access !!

We actually had someone terminate a contract under the cooling off period several years ago on a property we had for sale, so the .25% was deducted from the buyers deposit.  However we only got half of that as the RE agent kept the other half !!

It looks like this matter is sorted out now, but my understanding of the Qld finance clause is that the buyer  "must take all reasonable steps to obtain finance approval"  I suppose what is "reasonable" is open for interpretation?  Michael I don't think you could ask a finance broker to write a letter saying that your finance has not been appr…[Read more]

We have an article on our website that steps you through record keeping plus you can download our excel spreadsheet at:http://www.propertydivas.com.au/Downloads/Annual_taxation_reports.xls

Hi Simon,My view is that Q.1 would only be tax deductible if you were in the "business" of property development and bought and sold several properties.  Q.2 is a capital cost, (as is 3 & 4) and will be added to the cost base of the property when calculating capital gains tax if/when you sell the property.  Further reading : http://www.propertydivas…[Read more]

To help reduce the CGT  you can contribute funds into your super and receive a tax deduction.  Talk this over with your Accountant first to ensure you're eligible.

I'd first have a chat with your Council as they all have different procedures but the process is similar.   In the situation you're describing you'll still need to contribute to footpaths around both sides of the whole property, plus upgrade the existing driveway if necessary.  You may also find that even if the existing house has no storm wat…[Read more]

Hi Saima,Great advice from Marc by the way.  I grew up on a farm in western Vic so know the area quite well.  Its always worth a trip to visit your local Council to investigate whats happening in the area or visit their website http://www.mitchellshire.vic.gov.au/index.asp?h=-1,  perhaps also have a look at the updated ABS statistics online.Do yo…[Read more]

Springfield is located in the booming Ipswich growth region of SE Qld and is a new masterplanned community.  It is anticipated that Springfield will be home to 60,000 residents by 2026.  Recently the first stage of the Orion shopping centre opened and when complete this will be Australia's largest shopping complex.  The new University opened th…[Read more]

The following is an extract of a document off our website that explains further about subdividing:What is Subdividing? Subdividing is when a piece of land is split into two or more pieces (ie separate lots). The process is controlled by the local Council. Planning codes and procedures vary significantly between Councils and also between States and…[Read more]

"Your Investment Property"  seems to be produced by the same publisher as "Your Mortgage".  Shelf price is $9.95, but you can subscribe for 6 issues at $29.95.  Have a look in your local newsagent.  Similar format to API.

Hi Zayne,Yes we have several free templates available on our website and here's a link to the Annual Taxation Reports Excel spreadsheet.http://www.propertydivas.com.au/Downloads/Annual_taxation_reports.xlsCongratulations on your first IP.

If you're in Qld I can help just drop me a line.