hi steveod, i don’t think you will get penalised if you inform them after. you may have to pay interest though (not entirely sure). the rules for each state slightly differ. in nsw you don’t have to live in it for 12 months before you get it. and if you do get an investment loan and claim the grant – chances are you will have to do a lot of…[Read more]
Actually I’m not Fester. I’ve been in the top marginal tax bracket for a long time. But that’s another story. Its great you can negatively 5 properties. You are a minority thats for sure. Just wondering have you read Steve’s book? Are you from Sydney?
Eastern Suburbs Sydney. Great area, no doubt! Costs $10,000 per square metre though. Most of Sydney has to be negatively geared. Even the historical worse Suburb of Sydney (Mt Druitt) has lost its image and prices there now start about $250,000 – $300,00 for a apartment/townhouse. Positive cashflow no longer exists even in that suburb where…[Read more]
Chermside West in Brissy. Chermside also, but that suburb has just been through there boom. Not a positive gear property though. But great Capital Growth.
Wolverine, you are a lucky man! Wish I had that choice. Personally I would open a Subway franchise, get some blue-chip shares and a positive cash flow property. Multiple streams of income!
I was looking at Townsville about 3-6 months ago. I could see then they were all disappearing as well so someone else must have caught on to the idea. I never did buy cause Im from Sydney and never got the chance to go up there. I never knew about the 11 second rule then. So if that is what you are using i can’t say there is many of them, if…[Read more]
Hi Tuttsy. Yes Townsville you will get positive cashflow. Although that suburb/area has already boomed so you won’t get the capital growth. You can checkout http://www.realestate.com.au.
Negative gearing is good if you are on the highest tax bracket. But Negative gearing more than 1 normally means that your disposable income would be close to $0. Unless you are on a million dollars a year + bonuses (gold collar worker).
I am also with ANZ. On the breakfree package. Not to useful those guys. I’m thinking of going fix early next year. Maybe 1st or 2nd quarter. Do you know there fixed rate at the moment?
Not meaning to sound like an @ss, but are you really a Real Estate Agent that sells new homes? You guys have access to every suburb with a few keystrokes.