Forum Replies Created
Our website at http://www.propertydivas.com.au has heaps of FREE downloads including an Excel spreadsheet to add up your expenditure and receoncile income etc.
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
Hi Craig,
We have been using Lido Paganoni from IMIC Pty Ltd for years and he’s based at Wooloowin. Can help you with Life, TPD, House & Contents etc.
(Tell him Amanda from Property Divas recommended him!)Also Richard Taylor, see post above is also a finance broker and financial planner.
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
Hi Lisa,
This site seems to be linked to the Reno Kings so I expect that one of them is perhaps a partner. I think $998 for a one day seminar is a bit excessive, but as Richard says do your research first.
You’re most welcome to browse our site for lots of FREE templates and resources to get you started.
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
“Ya cant trust a pig with watermelon ya know!”Earthling, many of us here on this forum, live and breath property, and donate our time and resources to help others. We are not here to steal your deal, but to offer assistance, free of charge, which can be difficult when we don’t have all the facts provided.
Asking the region was more to see if the land was located in SE Qld, where I have some contacts. Subdividing a block of land is a massive undertaking, which I know from experience. You can find some more details on the subdivision process by clicking on my website link below.AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
Hi Guys,
Well it has been a few years since I practiced in Tax Accounting but I do recall the 6 year exemption rule that applies to your PPOR as outlined above. I also thought that a taxpayer was required to make an election in his/her tax return about the exemption so please call you Accountant to verify.
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
Yes it is possible to slide a house sideways but it could co$tly
(My guess $20k plus) , probably best to speak direct to a house restumper in your area.Instead why not reconsider how the lot is to be subdivided. Talk with the Council or a Town Planner as maybe they will allow a “battle axe” driveway to a second house at the rear. It really depends on what the Council rules and laws are in your area, perhaps ask for a copy of the zoning regulations and have a read to see if you can come up with another alternative. A “battle-axe” driveway would probably need to be concreted the whole distance but it may be cheaper than moving your house.
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
Try contacting Xenia Ioannou from Adprop Pty Ltd, also known on this forum as “Dr X”.
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
Ok I’m a bit clearer now.
What is the Councils main arguement for not allowing blocks with a 25m frontage? If you can identify the issue they have it may be easier for me and others to answer.
Also I was referring to a private Town Planner and not the person from Council. Most private Town planners, Surveyors, Civil engineers etc. will help you with the DA application and lodge it on your behalf.
What area are you in?AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
If all else fails, why not do a property search yourself through RP data or ABR?
A street address search plus a title search should cost under $100.AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
Hi Celeste,
Great results and thank you for sharing. We can all learn so much from the efforts of others.
If anyone is interested we currently have a competition on our website (closes 18/1/2007) to win a book for the best property story…photo’s welcome. Here’s the link http://www.propertydivas.com.au/Index.aspxAmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
Here’s my 7 $mart $imple $olutions to get you started in property:
Step 1 Set your financial goals
Step 2 Prepare a Budget
Step 3 Determine an investment strategy
Step 4 Build your team
Step 5 Research
Step 6 Prepare a Feasibility Study
Step 7 Negotiate the deal and repeat!!AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
This doesn’t sound like the Richard Taylor I know ???????
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
Hi Earthling,
Generally most Councils will have specified in their residential codes the minimum lot size, but also the min building envelope. If the blocks you suggest are too narrow, it will be difficult for most people to build a home and have sufficient space around them.
Aslo for asthetic reasons most Councils don’t like to see a cul-de-sac that consists purely of long narrow driveways. I’d suggest you thoroughly read the Council planning regulations that apply in your circumstances, and then make a appointment with a Town Planner or Civil Engineer to discuss your options, as these people have the experience and may be able to suggest an alternative configeration or road design.AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
I’d suggest you ring the relevant department in your state:
For further information contact http://www.firsthome.gov.au or your Office of State Revenue:
ACT http://www.revenue.act.gov.au
NT http://www.nt.gov.au/ntt/revenue
SA http://www.revenuesa.gov.au
TAS http://www.treasury.tas.gov.au
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
Hi Catherine,
Well it looks like you’ve got your question answered but I thought I’d post this extract from http://www.propertydivas.com.au for you anyway.First Home Owners Grant
In order to offset the impact of the introductions of GST, the government introduced the First Home Owners Grant (FHOG) on 1 July, 2000.
Who is Eligible?
A natural person (not a company or trust) aged 18 years or over wo are Australian citizens or permanent Australian residents (Individual State Laws may vary)
Neither person, nor their spouse/defacto must have owned a home in Australia or previously claimed the grant in Australia.
An eligible property must be located in Australia, and may be either a new or established property that is self contained and fixed permanently (ie must have a bathroom and kitchen and not be a caravan or similar) and lawfully can be used as a place of residence.You must intend to occupy the home within 12 months of settlement, or make an application for occupancy within 12 months of completion of construction. You must also intend to occupy the premises for a continuous period of at least 6 months. (State laws may vary)
Frequently Asked Questions
Do I include the $7000 grant in my tax return? No,there is no tax payable on the grant.
Is the FHOG means tested?
There is no means test required to receive the grant.What kind of property can I purchase?
The grant is available for any single dwelling, duplex, flat, townhouse etc. that is fixed in place and suitable as a residence. The grant is not available for extensions/renovations to an existing building or for the purchase of vacant land.How do I apply
Application forms are available through an approved FHOG agent, a Solicitor, or from your Office of State Revenue (Refer on-line below)Can I use the $7000 as a deposit on a contract?
No, the grant is only payable upon completion of the transaction at settlement.Can I received the grant for an investment property?
Yes, provided that you occupy the property as your principle place of residence within 12 months of purchase, otherwise the grant must be repaidHow long is the grant available for?
At this stage no closing date has been made.How is the grant paid?
The grant can be paid directly in to your nominated bank account OR directly to the builder as part of the first progress payment OR in the case of an owner builder, upon receipt of the Certificate of Occupancy.Further Information
For further information contact http://www.firsthome.gov.au or your Office of State Revenue:
ACT http://www.revenue.act.gov.au
NT http://www.nt.gov.au/ntt/revenue
SA http://www.revenuesa.gov.au
TAS http://www.treasury.tas.gov.au
Finally, don’t sign anything before checking it with your Solicitor!!
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
Hi Adrian,
My advice is to start in your local area as it will be much easier to research, inspect and drive by any prospective properties, particularily if you have kids in tow!!
Look for an area that is growing in population, is undergoing redevelopment, has a history of good capital growth, has good transport/shopping/other infrastructure, good industry/employment opportunites.
Housing is a basic human need, so if the population is growing they need somewhere to live!!
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
Most properties will be around 4-5% now but it is possible to get higher with some creative stategies.
The rental yields are usually published each quarter in the API magazine in the back section.
We generally use:
Rental yield
Low 0-5%
Med 6-8%
High 8%+For vacancy rates
Low 0-3%
Med 4-6%
High 7%+AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
Toowoomba is still relatively affordable however a large number of investors bought up late in 2006 which saw the market flooded with rentals. I’d suggest you consider Ipswich, which is currently undergoing massive redevelopment and has the added bonus of the electric train.
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
Hi Mattlach,
To be successful in property you really do need a good system in place and reading forms part of Step 3 in determining your investment strategy.
Step 1 Set your financial goals
Step 2 Prepare a Budget
Step 3 Determine an investment strategy
Step 4 Build your team
Step 5 Research
Step 6 Prepare a Feasibility Study
Step 7 Negotiate the deal and repeat!!Don’t limit yourself with reading as learning is a lifelong process.
I’d suggest though that you start by reading from both “camps”. The cash flow + and capital growth (negative gearing) so you gain a thorough understanding of how property works before you jump in and buy anything. Any good bookstore such as Dymocks or Borders usually stock a good selection.AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
I’m with “kjs” on this one with a definate NO!! Money and friends/relatives just don’t mix.
This also turns the tables upside down on your relationship with your parents. They have always been the one’s to nuture and take care of you, and now they will have to answer to you each week and pay up rent $$$. You don’t need a crystal ball to see it will end in disaster, particularily if you later throw in a couple of kids.
Please don’t take this the wrong way as I think your heart is in the right place and its a very kind gesture.
Also to get past the tax office you’ll need to show that the rent is at arms length and market value. If your Dad does work to improve the place, then you get the benefit of the increased equity, but he’s done all the hard work, which could cause friction later.
I’d probably suggest sitting down with your folks and having a long chat and seeing what they also think about things, go through both your finances/Pension benefits etc. and see what other option come up. Not an easy one but I do wish you well.
AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
