Usally the agent can give you a good idea on rents but in saying that….. the agent is the one that’s out to sell you on the property, so beware

R2

Gidday,
just my 2 pennith worth I’ve just purchased a new unit in QLD (+ve I had’nt read Steve’s book then) I’ve been quoted up to $1000 for a Quantity Surveyor to go in and list everything for depreation. I ran this by my accountant thinking that it was far too high. My accountant told me to spend the money. She said that the QS is licensed and signs his life on the dotted line, and will list every little thing that can be listed. My accountant says the alternative is that She and I sit down and try to guess. If you are ever audited by the ATO. you just handball to the signed QS report. Also tax deductable as stated in above post.

R2 [:0)]

I,m in the same boat and I struggle to work out how to make Steve’s system work for me. If I’m -ve geared every dollar I lose I claim half back. if I’m +ve geared every dollar I earn I lose half to the taxman.

Now I’m started to get interested, how can you earn $100K and have a taxable income of $0 How do you live day to day and pay the normal house hold bills. I run a farm at at loss(as well as my $100K job)to maximise my tax return I’ve just purchased a IP that will be -ve geared. I’m very interested in +ve gearing after watching Steve on Today tonight but I see it as a big jump for me from -ve to +ve I’ve ordered “the book” and maybe when it turns up all will be revealed.

I’m just about to sign on the dotted line to buy a IP in QLD that will be Neg geared. I have a $100,000 plus job and I pay $35,000 Tax I’m trying to minimise tax and cash in on cap. growth. After watching Steve on today tonight last night I’m wondering if I’m doing the right thing. If I go for positive gearing, what do I do about paying tax? Do I just keep paying more and more tax but be content with more money in my pocket each week? HELP Please