Hi Noami,
Wouldn’t an appropriately selected buyers advocate be able to assist you with finding such a property?

Thanks everyoe for your comments, very useful.

Just another quick qestion, if I was going with a single bank, would I do a single application for the total loan amount and then split the accounts, or would it need to be 3 separate applications (i.e. one per property)?

Thanks again.

Catalyst, you say when you replace something, it is seen as an improvement. I am not totally sure on this (happy to proved incorrect) because what if you replace a hot water service because the old one died? That is replacing something but I would expect the whole cost to be claimed in that year?

Thanks Richards, I think you could be spot on about them trying to sell something!

Cheers

Thanks Jamie,

It is a fairly simply equation isn’t it, which is why I don’t think there is much they could tell me that is not very obviously or something I don’t already know!

Cheers

Interested to understand how you know it has a current yield of 10% when there is no mention of what the property is rented for on the ad?

Hi Bullion,
From what I understand, the ‘capital gain’ event will occur when you accept the offer (and sign the contract), and the actual settlement date (when you receive the money) doesn’t impact the capital gains tax calculation.
If you are comfortable with managing the build (or happy to pay someone to do it) then it may be worthwhile, as you…[Read more]

Jamie M wrote:
Generally speaking I'm not a huge fan of borrowing money in order to borrow more. Especially for those purchasing for the first time. I think it's important to be able to demonstrate an ability to save – otherwise they could find it tough when it comes to meeting their repayments.

Cheers

Jamie

Jamie I agree with you…[Read more]

Hi again guys, thanks for the comments.

Tom, you are right the bank does know about it as their authority was given before the sub-division was finalised.

Richard – the land is unencumbered, are you able to quickly jot down what some of these options would be?

Thanks in advance

Thanks Shahin,

The land is on a separate title, so that is good to hear.

thanks again

I recall reading a similar post on Mildura on this forum so perhaps if you perform a search you may find some additional information.From memory, the general consensus on Mildura was mixed with some having good experiences, some not so good (which would be the same as any area). The fact it is a considerable distance from other regional hubs /…[Read more]

Hi Ashley,I am currently at the final stages of this process (waiting for Council to approve the proposed section 173) and have to say that this process flow would have saved me a LOT of worry! Knowing the upcoming steps in the process would really help with planning.Great resource and thanks for sharing!

This is a bit of a change of topic but I was also under the impression that GST is only payable if you have entered into the development with 'an aim to make a profit'?If you were able to show that your original purchase was not with the intent to develop (i.e. you lived in a dwelling for some time, then decided to sub-divide), would GST no longer…[Read more]

No one has the rates crystal ball unfortunately. It may be worth considering fix part of your loan/s. That way if rates go down, you feel some of the benefit but if they go up it wont hurt too much because part of the loan is fixed.

Jamie M wrote:
For anyone reading this and considering the ANZ 5.8% fixed rate – just letting you know that the offer expires at the end of this month so get your applications in before this date if you've decided this is the way to go.CheersJamie

I have just fixed my ANZ loan with the 5.8% rate. You need to be on their "Breakfree package" …[Read more]

Terryw wrote:
very generally.80% of rental income, and 30% of salarymust be greater than repayments of all loans.

Just confirming that it is 30% of gross (before tax) salary

lifestylez wrote:
My point here is if I had of let economic factors stop me from buying, I may never have got started and never experienced a good performing asset.

Would totally agree with this comment. There will always be someone giving you are reason not to do it (property bubble, interest rates are rising, the tenants will trash the place…[Read more]