Elisey
That can happen.
Consider a new agent or go get them of there date and do something.
They are the ones getting all the money for no risk!
Bluegrass

Hi aturner
I am no finance guru, but with your tax levels positive geared is not the answer.
Granted you get depreciation (on positive geared property), but why would you want to put more money in your account to be taxed more.
I build investment homes for people and have done so for over 16 years.
In you position you should be looking for new – to be built house and land that will give you capital growth.
I would shy away from units unless they are in configuration of duplex, triplex or quads.
Have a look at the website http://www.raspinvestment.com.au on the page we answer your questions.
Regards
Bluegrass

Novusprimo

Putting it out to tender will be time consuming and the only builders that will come back to you will be nail baggers.

You can work out the fair price yourself by asking the builder who quoted you to brake it up into sections.
What you are looking for is a meter square ‘m2’ rate.
The price also depends on whether you are building full turnkey or doing some items yourself.

Site works will be a cost not m2. Is the land flat, have you got a soil test?
Garage, porch, alfresco, will be about 850m2
Internal will be about 1100 m2

Example: 200 m2 home slab on ground will be a 205,000 – 215,000 subject to the inclusions.
If you are two story you need to add about $100 per m2.

This is just an approx. as I do not know what the design looks like or the amount of valleys etc. in the roof.

NSW2011
Exercise your cooling off option NOW!
The building is a lemon, if it is 3 years old it will be a lemon tree by the time you stop spending money on it.
The agent is not to be trusted in this case. They would have known the condition.
If you want to give money away, I can get you millions of bank accounts to put it in.
Cooling off means that, you have cooled on the purchase, you see too many problems and you want to cool your heals and regroup.
Bluegrass

Hi ccpat
There are a couple of reasons people ‘investors’ are fleeing Logan Central, but I believe that the main underlying one would be that they cannot see the property they purchased getting back to what they paid for it anytime soon, we are talking years!
Logan, Marsden, Browns Plains, Crestmead etc. were all sold out by Marketers, in other words people bought them from Marketing Groups, most likely from a seminar or telemarketing phone call to a presentation, at a price that had $40,000+ marketing fees in them.
Most of these properties are well built and most will still have some depreciation attached to them.
If you are really wanting to get into the IP business ‘and who does not’! may I suggest you either talk to a builder and have a home built for you or check the web and have a look if there are any home and land packages available.
N.B. As of the 1st of August the Qld. Government is giving away $10,000 to anyone that purchases a new home and there are some builders adding more to help keep there subbies in work.
Always remember that when purchasing an investment property, it is about the figures, not where you believe you want to own a property.
Look at the house as a ‘Brick Money Box’!

Bluegrass
P.S. http://www.raspinvestment.com.au

Hello B2 Luck
We can help with all of what you needs are in both finance and property.
The advice from Jamie is spot on so run with him first his is the best answer for all concerned.
We have property all over australia, some negative geared cash positive, some negative geared negative cash flow.
Bluegrass

Hello saqib
Whilst you indicate that you believe owning is better than renting, there are many that would no agree with you.
I have a number of clients (that I have built homes for) and they are still renting.
The reasoning is they can live where they want and the investment property can be where timing and growth area or about to be.
Coomera on the east side of the highway is one of the best opportunities in SEQLD at the moment.
Have a look at http://www.raspinvestment.com.au in reference any questions you have on Investment Property.
If you email me I can do a Property Investment Analysis report for you which will indicate you will be able to buy more property for your dollar in the investment field opposed to owner occupier.
Bluegrass

Hi Dloy
It about building a bigger bank account using other peoples money. Easy really when you have an open mind!
Love you signoff comment
Bluegrass

As both Jamie M and JacM state, there are a number of ways to go about this.
With you total gross income being so high, your thoughts on 90% would seem founded.
As your safe input is considered the least amount you could put into an IP, can I suggest the NRAS product.
I have done some sums on our NRAS calculator and the following figures (they need to be confirmed by a licensed finance consultant) are the outcome.
NB, the product is in Queensland, we are looking at a parcel of land at Soldiers Road, in Berwick but it is a good time away from being sorted.

The house purchase price is $370,000
Your contribution is $37,000 + costs
Your expected tax deduction using depreciation and NRAS deduction is approx. $9,400
The result is that this property will put approx. $63.00 in you bank account weekly.

Disclaimer: This is only an example for the purposes of research.

I know others are against the NRAS system and so was I a year ago.
They (the government) have finally figured it out and there are people close to us that are all having a good experience from it.
Bluegrass

Hi David
If you call BMT you should be able to get the report for $440.00, that is all our people pay. N.B. New property only!
Bluegrass