Forum Replies Created
Hi there,
If you go to our website, http://www.buildingassets.com.au , and download the information memorandum, you will see three examples in South Australia that are all cashflow positive. Rgds,
Rob
Hi,
Affordable Housing was the succesful applicant for allocations in SA. The structure here is straight freehold with no head lease structure.
Rgds,
Rob
Hi there,
The purchase of the property is as per usual, the title is in whichever name you choose. The NRAS co-ordinator (Affordable Housing Consulting) will provide you with your formal agreement which covers the 10 year life of the scheme. Basically, if you comply to the scheme, by renting it out at 80% of market price, you will recieve the tax free grant each and every year for 10 years.
There is a panel of 3 proerty managers that you must choose from, whose fees are all pretty similar.
We are pushing to get the website up because demand is hign.
Rgds,
Rob
Yes Matt,
It is a finance thread, but the biggest issue with these grants has been the big four banks reportedly not allowing finance on "head lease" style arrangment properties.
Our are straight freehold title sale properties.
Rgds,
Rob
Hi Gary,
Website is currently being populated and finished, but it will be at numerous developments across Adelaide.
Rob
Thanks for the question.
As our grant is attached directly to the property, with no head lease or similar to complicate things, we haven't had issues with finance to date.
What we are hearing from credit departments is that they assess the 100% of market rent, but do not take into account the NRAS payment.
All of our modelling is done on between 80% lvr to 90% with LMI, which shows a positive cashflow at the end of the year of about $120 per week on a $300k house.
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Rob
Hi Rinnia,
http://www.buildingassets.com.au will be live in about 2 weeks time. The prime focus of this group will be to match up NRAS grants, including all compliance matters relating to the grant, with brand new investment properties in Adelaide.
The builder will be announced on the launch of the website.
Rgds,
Rob
Thanks Richard, That confusion relates to structures where a head lease is involved; ours are straight freehold transactions.
"To enable the tax offset to flow to owners/investors involved in head leasing arrangements, the Department will put in place a manual process for issuing Refundable Tax Offset certificates in a format that the Australian Taxation Office has indicated will meet their requirements to enable the offset to be claimed by the NRAS dwelling owner tax-free."Having said this, all investors are required to get their own tax advice.
Rgds,
Rob
Hi,
Our group is marketing National Rental Assistance Scheme allocated properties in Adelaide, turning these new preoperties into cashflow positive, they are going quickly but still have some.
Rob
Building Assets
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