Diane Hunt Valuer wrote:
I would say buying a property to live in would be the best bet as you will save $580 a week rent and there is no capital gains tax payable on your residence.

 Remember to get any property you are thinking of buying valued by an independent valuer to ensure you are not paying above market value.
 Cheers Diane…[Read more]

There are too many unknown variables to give you any sort of answer. Income?  Are you planning on staying where you are long term? Servicability (can you afford any out of pocket expenses each week). Deposit? Borrowing power?

If you are not staying long term maybe buy a PPOR then rent it when you move.  $580 a week is a lot but sometimes it is…[Read more]

And that's the difference Qlds007. Finding a GREAT PROPERTY savvy accountant.

I thought I found a good one until I asked him (early days of investing) if I should get a depreciation report. His answer- Up to you. It was then I started searching for a new accountant. I LOVE my accountant (well at tax return time anyway.  

http://www.depreciator.com.au         They have done all of mine. Fantastic service, competitive prices.

They cover all of Australia.

Can't fault them.  Check your private messages. I sent you more details.

What difference does it make if it's a hot market if the price is below market value?

Just do the numbers. If It's CF+ from day 1 after the reno and you have increased equity  then it sounds OK to me.

I have several ex housing comm places. A few are fibro. I painted one outside when I did the reno as it had graffiti. 
Regarding area. I look at…[Read more]

Hi, welcome to the forum.

You'll need to give a bit more information? Do you want to do any renovating to MAKE it CF+ or do you expect to just buy one that is CF+ from day 1?

Are you interested in country towns?

How much do you have to spend?

What's your definition of CF+

Do you earn enough to service the loan alone?

Can I ask why you need to do this? I'm assuming tax reasons?

Think carefully if so, for long term as well as short term.

I buy/reno/hold because I don't need the cash. Glad I didn't sell as my portfolio has had some lovely growth in the last 2 years. I buy under market and reno which makes the properties CF neutral or positive from day 1. The banks will have no problems lending you money to go again when you have built in equity and are CF+. So your idea makes…[Read more]

Jamie M wrote:

Melissa97 wrote:
Hey all,
I have owned mine for 7 years and it has not appreciated very much.

Hi Melissa

This reason would be enough for me to give it a miss – unless you're getting a significant discount.

It might pay for itself – but if it's not going up in value then you've got to question whether it's a good investment…[Read more]

Short answer yes it will create problems.

I'm assuming it's an investment? otherwise you won't be getting tax deductions anyway.

If you put money into the loan and take it out again to spend on personal items you are contaminating the loan.
You need to keep investment spending and personal spending separate.

You can, however put money into the…[Read more]

I actually did this with 2 of mine. Only because the property managers were hopeless.

I didn't know the tenants personally. I had met them. Both had been in the properties over 2 years. Never heard from them, always paid on time.

One stayed for another 2 years. No problems.

Other is still there 3 years later. Never missed a payment. Problem is…[Read more]

Have you measured to see whether there is enough room to subdivide? It looks very small and you have the line right on the existing house (which won't happen).
First thing I'd do is look at the block sizes then go to council to see if it is feasable to add the driveway. As there are no other driveways leading on to the section I'd say it isn't…[Read more]

They install if you want them too. I got them to install one. Great job. We usually do our own but friend/installer was sick. Hubby and I have done some easier ones ourselves. They guys are fantastic. The install price is very reasonable.

They are installing my kitchen in my PPOR in a few weeks. Can't wait.

I haven't bought any of their bathroom…[Read more]

rachel they use Blumm hardware. Other brands are inferior. Not sure about the handles but never had a problem.

That's great babyflynn. They are great.

We usually get appliances from Appliances online. A couple we got from seconds world earlier.

A lot can happen in 5 years.  Would you need to reval to withdraw equity for further purchases within in 5 years? Do you have enough money to cover in an emergency (lose your job etc).

What's the rate comparison 2yr, 3yr, 5yr. That makes a difference too.

You can change it but you will most likely pay stamp duty on 50% of the market value of the properties. In some states you can transfer between spouses but that's usually a PPOR not so you can avoid tax (it's called tax avoidance).

Not talking to your accountant before buying is a big mistake lots of people make.

Think about the future though.…[Read more]

So I'm assuming you need to draw money out in order to buy again? Otherwise it's not an issue. Has it really gone up? Did you buy it heaps under market value? Have you done a reno? My question is- why is it worth more than you paid?

Yep CBA tend to stuff around. I wanted to buy a burnt house. VERY cheap (land value). In the end I told them to…[Read more]

My schedules are calculated for 20 years.  Most things are written off in less than that time. Plus not many people have a property for 20 years without some major reno work. Most companies will update it also.

We just ordered ours for our PPOR. Got a few mobs out. Quotes $22,000 and up. Ordered through SKB. Same as mobs that quoted, stone benches with waterfall finish soft close drawers etc etc.. Just over $7,000 installed. Excellent quality, not cheap at all (well quality). Price is amazing. Spending the difference on a European holiday next year. )

Ok the pre settlement inspection is to make sure everything is AS IT WAS WHEN you signed the contract.

 It is NOT for you to find faults with the property that you didn't notice before.

SO IF there are things that have changed- eg the dishwasher is now missing, someone has trashed the kitchen etc then you delay settlement until it's recitfied or…[Read more]