B.Deros replied to the topic When times get tough in the forum Hotch Potch 20 years, 11 months ago
Just more on melbear’s ‘tenants in common’.
If there are two names on a contract then this is the legal structure automatically used.According to the ATO both parties are deemed to own 50% of the property and receive 50% of the income whether they have some other arrangement or not.
B.Deros replied to the topic Feedback on IP wanted. in the forum General Property 20 years, 11 months ago
I think you may have missed management fees – assuming you are planning to use an agent. This is usually 7.5 – 8.5%.
Repairs are impossible to predict so as previous poster mentioned your positive cashflow could easily turn negative.
Another point I discovered in analysing my own investments…
Buying units under $100K makes it harder to achieve…[Read more]B.Deros replied to the topic Tax Depreciation Schedules in the forum No Subject 21 years, 4 months ago
Thanks Quentin,
I have chatted to deppro already and they sounded quite good. I’ll mention the Woodward case and see how on the ball they are
BenB.Deros replied to the topic Property Investment Companies… any experiences? in the forum The Treasure Chest 21 years, 4 months ago
The last time I thought about this I concluded the main benefit of these companies was in actually finding the right property due to their “superior market knowledge” (take that with a grain of salt) – all the other benefits are really conveniences that you will pay for.
BTW, I still like going to seminars because it fuels my thinking and you get…[Read more]
B.Deros replied to the topic How to find honest Real Estate Agents? in the forum The Treasure Chest 21 years, 4 months ago
I talked to a whole bunch in the area whilst I was shopping around buying and formed my impressions that way.
I went with the most professional agents, not the ones who went the most out of their way to impress me – that kind of attention is short-lived.
So far I have been very happy with the decision. Especially happy considering I live…[Read more]B.Deros replied to the topic Captial gains tax in the forum The Treasure Chest 21 years, 4 months ago
Call up the ATO. They will send you the Guide to Capital Gains Tax booklet for free.
B.Deros replied to the topic Acceptable Profit on Development in the forum No Subject 21 years, 4 months ago
Some developers just want to keep their builder mates busy when the housing economy is quiet
B.Deros replied to the topic Swimming Pool ? in the forum No Subject 21 years, 4 months ago
It does depend on your strategy a little but in general what you would gain in rent you more than lose in the…[Read more]
B.Deros replied to the topic When to refinance in the forum The Treasure Chest 21 years, 4 months ago
You could refinance now, but beware of exit fees and Application fees for the new loans. If you just want to use the extra equity you could just approach your current bank asking for an increase. Also beware that the bank valuation may not come in as high as you had hoped.
What was the LVR when you purchased? You can generally only…
B.Deros replied to the topic Managing ever increasing number of IPs ??? in the forum The Treasure Chest 21 years, 4 months ago
I think there’s a book on creativerealestate.com.au by Barry Black that shows how he managed 179 properties with 1 x A4 folder!
B.Deros replied to the topic Buy more investments or buy my own home?? in the forum The Treasure Chest 21 years, 4 months ago
My take on this is based on the fact I am young, have no dependants and live in the currently maxed out market of Sydney. There is no way I can get the same returns on a home here than I can on an investment in say Brisbane.
e.g. rent income pm in Brissie = $950
– rent paid in sydney = $150
– mortgage payments = $800$0
e.g. rent income pm in…[Read more]