Thanks Terryw. Now, what would be my best bet to get the valuation for the property One in February 2008 which is acceptable to ATO. An indicative valuation from a real estate agent???Cheers

Thanks for your help Christian.

Guys, I have a reverse situation: Property One – Purchased in Dec 2006 and I lived their with my partner until Feb 2008;Property Two – Purchased in Jan 2008; and moved-in in Feb 2008 Now want to sell the Property One. What would be my best option? Use Property One as PPOR until its sold (as CG is higher there) and start using my current res…[Read more]

Very interesting read. I hope situation in Victoria is bit better then Qld.

The Govt grant may cover the stamp duty & other costs but if the location is not attractive there won't be much of capital growth and a small cash flow positive investment can become a break-even capital investment if you can't find tenants quickly as noted above by Jadamo76 (also see properties for rent in Point Cook – which was a hot area for…[Read more]

Sorry, didn't see the 'regional' bit. Bigger can be better depending up on how the relationship works. I have a relationship with this Agent who manages my few properties and atleast another 10 referred by me (of my friends/ clients).

Subject to sale of my house – won't work unless you are offering a price which simply exceeds owners expectations.

If your investment property is in Melbourne Metro area I may refer you to a major property agent (I know her personally) and they will look after you very well and I believe will be cheaper over all. Email me if interested.Cheers

2007 Holden Viva – a small car but does what I need.

I agree with Terry and real estate agents will raise their dispute with the vendor separately perhaps a civil court case in this case.

I have seen such syndicates run by the accountants of some wealthy individuals which works well so long it is run by a trusted advisor. usually they have run such syndicates under a company name to avoid/ minimise individual liabilities. You can also borrow against the property if you can't find enough investors and the proposed LVR is low with…[Read more]

Location, location, location !!!. And this is what matters most. The FHOG in Victoria may give you $20K extra for a new home plus land arrangement but you need to ensure the property has future (capital) growth potential. Some people prefer old houses with bigger land as it presents opportunity to re-develop in future but this depends upon your…[Read more]

Try Archicentre. http://www.archicentre.com.au.I have used them and found useful also they certainly have good PI cover. A friend of mine had termites problem within 12 months of their inspection and Archicentre covered for the 'fix' without any major drama.

You need a firm planning and which can help avoiding/ reducing taxes whichever comes cheaper with minimal impact on your cash flow. There is alot to consider in your case so won't give you any suggestions without knowing all the details.Speak to your accountant/ financial planner as they should know your current income and many other personal…[Read more]

Solomon10 – Couldn't agree more. I wish these politicians had a bit of brain and could think like a 'normal human being'. I'm anxiously waiting for likes of Palmer or Twiggy (who has a bit of cash) to challenge this case in the High Court so that we can get this delayed until this Govt goes. I'm not a supporter or Labour, Liberal or Greens and…[Read more]

See the 'right' offer price is the value you believe in. In short term even though you end up paying a little bit extra to acquire the location and kind of house you wanted, you will recover this over payment if you are planning to hold it for longer. And I'm not saying this – I have done it myself. Sometimes you need to add a few grand just to…[Read more]

plus the legal fee (Terry you forgot to mention)

Oh dear… another classic 'dog-fight' between the real estate agents. I feel soprry for the vendor.Go & see a lawyer asap and I can see them lodging a caveat on your behalf.

They will all ask you one question – why do you need to access these funds and if the new loan will help you generating income.As the guys said above – banks looks for primary exit being cash flow (your wages in this case) and then consider the secondary exit (your property). Don't forget, they are interested in making money and which is only…[Read more]

Thanks Christian. Its sent now. I appreciate your help on this matter.