asou started the topic Seeking Advice: Should I Continue or Cut My Losses on an Off-the-Plan Purchase? in the forum Help Needed! 3 weeks, 6 days ago
I recently purchased an off-the-plan house and land package in Mar 2024, with settlement completed the same month. The construction cost of the house is $460k, and I made some custom changes to the design requiring an additional $50k. Its a simple just extending the first floor by another 10m2. This was all finalised in early Sep 2024. At that…[Read more]
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asou started the topic Seeking Advice: Should I Continue or Cut My Losses on an Off-the-Plan Purchase? in the forum Legal & Accounting 3 weeks, 6 days ago
I recently purchased an off-the-plan house and land package in Mar 2024, with settlement completed the same month. The construction cost of the house is $460k, and I made some custom changes to the design requiring an additional $50k. Its a simple just extending the first floor by another 10m2. This was all finalised in early Sep 2024. At that…[Read more]
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asou started the topic Seeking Advice: Should I Continue or Cut My Losses on an Off-the-Plan Purchase? in the forum Legal & Accounting 3 weeks, 6 days ago
I recently purchased an off-the-plan house and land package in Mar 2024, with settlement completed the same month. The construction cost of the house is $460k, and I made some custom changes to the design requiring an additional $50k. Its a simple just extending the first floor by another 10m2. This was all finalised in early Sep 2024. At that…[Read more]
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asou started the topic tax deduction for failed settlement property in the forum Help Needed! 6 years, 2 months ago
Hi,
I have a taxation question. There was an investment property I planned to purchase at the end of last year. However, the settlement failed due to the bank valuation was too low. Can I claim the legal and travel costs occurred in this situation?
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asou replied to the topic Should I stay closed to home or invest in interstate? in the forum Help Needed! 7 years, 1 month ago
Hi Benny,
Thank you so much for your info. After reading your replied, I don’t feel as worry as before to invest in the other states. I was really concerned before since almost everyone I spoke to was telling me don’t do it because it is too risky. I didn’t want to follow their path and run into cash flow problems. And also dealing with difficult…[Read more]
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asou started the topic Should I stay close to home or invest in interstate? in the forum Help Needed! 7 years, 1 month ago
Hi,
I am planning to buy my first investment property. I don’t have a lot of money. My budget is around $350k. I am based at Sydney and I know there is nothing you buy with this amount of budget here. Therefore, I am thinking if I should invest in the other states such as Brisbane. However, after seeking advise from my friends and colleagues.…[Read more]
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asou started the topic Should I stay closed to home or invest in interstate? in the forum Help Needed! 7 years, 1 month ago
Hi,
I am planning to buy my first investment property. I don’t have a lot of money. My budget is around $350k. I am based at Sydney and I know there is nothing you buy with this amount of budget here. Therefore, I am thinking if I should invest in the other states such as Brisbane. However, after seeking advise from my friends and colleagues.…[Read more]
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asou started the topic Need advice on property settlement issues in the forum Help Needed! 7 years, 10 months ago
Hi,
I have recently settled my off the plan property. I discovered there are 2 major issues with the unit after I settled.
1. My car park size decreased from the original plan 17sqm to approx. 13sqm. I have tried to address this issue with the developer but no avail. The DP (Deposited Plans) is also incorrect as it contains the original size of…[Read more]
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asou replied to the topic interest charged on settlement delay in the forum Help Needed! 8 years, 11 months ago
This is in NSW. I have already got my mortgage broker to ask the bank if they can do something about this. Hopefully, the bank will reimburse the full amount. I already had my loan pre-approved before settlement. It was clearly the bank’s process problem and I shouldn’t be paying for their operational inefficiency.
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asou replied to the topic interest charged on settlement delay in the forum Help Needed! 8 years, 11 months ago
I am aussuming my solicitor didn’t ask for settlement extensions. I had my loan pre-approval done before it was actually completed. However, it looks like there was another chain of processes and documents I was required to sign after the building was officially completed.
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asou started the topic interest charged on settlement delay in the forum Help Needed! 8 years, 11 months ago
Hi,
My property was supposed to settle on the 23rd Dec last year. However, the bank wasn’t ready for it even though I submitted all my documents on time. And then the xmas and new year shutdown came. Therefore, the settlement date had to push back until the 18th Jan. The builder sent me a bill and charged interest during this time at 10% p.a.…[Read more]
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asou replied to the topic bank valuation vs mkt valuation in the forum Help Needed! 9 years ago
I am thinking the main reason for such low valuation is I will be living in it. If I initially applied my loan as an investment property loan, then the valuation would turn out to be a lot higher. However, I want the first home owner grant so I must stay for 6 months.
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asou started the topic bank valuation vs mkt valuation in the forum Help Needed! 9 years ago
Hi,
I bought an off the plan apartment for $428k 2 years ago. The settlement is coming soon, so I checked on the recent sales price for a similar unit in the same/nearby buildings. The mkt price was around $550k, I was expecting the bank valuation would come close to that. However, I just got the valuation results, the bank valued my property…[Read more]
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asou replied to the topic is property inspection worth the investment for off the plan? in the forum Help Needed! 9 years, 4 months ago
it’s the new building in Blacktown. Settlement date is expected to be in 6 weeks. So, I can’t do my inspection until then.
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asou replied to the topic is property inspection worth the investment for off the plan? in the forum Help Needed! 9 years, 4 months ago
Hi Mandy114/oncebittentwiceshy/Jamie Moore/KatarinaH
Thank you so much for your advise. I completed my final inspection like over 1 week ago. The agent left me a text the night before the inspection and so I had no time to organise a professional inspection to be done onsite. I didn’t know what I had to do and just went over the checklist based…[Read more]
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asou replied to the topic Tax minimisation in the forum Help Needed! 9 years, 4 months ago
Hi Jamie/Terryw/Benny,
Thank you for all your advise. I just have another question regarding using a trust. I heard trust don’t have to pay any tax. Does this mean if I have my investment property inside a trust, then I don’t have to pay any tax unless I withdraw the rental income?
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asou started the topic Tax minimisation in the forum Help Needed! 9 years, 4 months ago
Hi,
I have been thinking the investing strategy “Buy, Renovate and Sell”. Let’s say if I make $50k profit, but how can I get away from paying the massive capital gain tax? I won’t always be able to live in the property for 6 months since it can be in the outer suburb areas/interstates.
Isn’t it better to “Buy, Renovate and Rent” instead since…[Read more]
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asou started the topic About Steve's Property Apprenticeship course in the forum Value Adding 9 years, 5 months ago
Hi,
I am a Sydney person and I have been thinking really hard if I should buy the course. Can someone share how they felt about the course? Was it worth the investment? Steve’s course is really pricy ($10k) for someone who has a very limited budget.
Sydney house prices are so expensive these days. I probably need like at least $700k to $800k to…[Read more]
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asou started the topic About Steve's Property Apprenticeship course in the forum Value Adding 9 years, 5 months ago
Hi,
I am a Sydney person and I have been thinking really hard if I should buy the course. Can someone share how they felt about the course? Was it worth the investment? Steve’s course is really pricy ($10k) for someone who has a very limited budget.
Sydney house prices are so expensive these days. I probably need like at least $700k to $800k to…[Read more]
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asou replied to the topic ways to minimise personal income tax in the forum Help Needed! 9 years, 5 months ago
Hi Corey,
I was thinking exactly the same thing. I don’t want to buy negative gearing properties, I also don’t want to buy off the plan just for depreciation. Salary sacrificing into super isn’t good cos I don’t get the money until 65. There is really no way to get any tax advantage as an employee. This is exactly what Robert Kiyosaki explains in…[Read more]
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