Please explain?

Websites about positively geared property?

Plenty out there?

You don't need to change anything with regard to paperwork, or pay any fees (unless you pay land tax).
You just rent it out. This will show on your tax return. If you sell within 6 yrs it is CGT free. Or you can move back in then out again and get another 6 years.
This is only possible if you lived in the property first. If you rented it thenmade…[Read more]

Where do the $204 deductions come from?

You need to list all the outgoings for the house then add depreciation etc.  The rent you will be paying is not factored into it.
Just take that into account later. Not in your tax benefits.

You mentioned CGT and paying interest only as opposed to P&I. This has nothing to do with CGT. How much you owe on a…[Read more]

How did you calculate cash flow neutral? Did you take into account that rates etc are tax deductible? Will you get a depreciation report? that gives more cash in your pocket.

If it is more convenient for your work and costs you nothing (or better still puts money in your pocket) why not? My daughter did this. She had a 2 bedroom and had…[Read more]

Congrats on your purchase.

Have you started painting? If not just a hint.

If the walls have nicotine stains paint with zinzer first otherwise the tar will just seep through the paint.

When doing any renos you want to at least get double your money back in increase equity. Just a general guide to help avoid over capitalising. Look at how the…[Read more]

That's why I got you to do mine Terry.

The problem is "you don't know what you don't know".   Lots of people "think" they know it all.

The trick is knowing where to draw the line.

Terry has a good point. With important things such as structure, tax etc you need to know your limit and hire a professional. I know some people with multiple properties that do their own tax. To me that's…[Read more]

You need to have sufficient insurance for replacement. Don't forget if your house burns down you have to pay to have it demolished and taken away. Then the rebuild. Most insurance covers accom while rebuilding too.

You'll probably find the cost to insure for $50,000 less is very minimal anyway. And if the insurance company feels you've under…[Read more]

These days you don't need to live near your accountant.

But getting one that knows what they are doing with investment properties is paramount. Can be the difference of thousands of dollars.

You need to do your own research on an "as-if-complete" valuation. Most people don't have vision. Also how do they know the quality of your work, your fittings etc. I doubt that you will get a valuer to commit t a post reno valuation. Many people have difficulty getting a valuer to value a place just after a reno. They sometimes find it difficult…[Read more]

haha! VERY funny.

We moved a few weeks ago. Thank goodness we had the massive garage sale and clean up.

We had to have another council cleanup before we left AND hubby was still taking stuff to the tip the day of settlement.
Now as I unpack boxes I still find I have too much stuff. So I have 2 big boxes and as I unpack I put stuff I don't really need in them. Off…[Read more]

As Jac says- don't get too stuck on a particular type of dwelling as you may miss an opportunity by wearing blinkers.

I have a VERY small 1 bedroom unit that has had amazing capital growth and a good yield. 

Read some books, ask more questions.

Why are you targetting those areas?  Look for CG drivers- infrastructure, population growth etc…[Read more]

You are not taxed at 50%. The profit gets added to your income and that is the rate you are taxed at.

If you HOLD for MORE than 12 months you are taxed on 50% of the profit.  (not taxed 50%)

We bought a house with a nicely painted grey bedroom. Problem is they had a water bed in the room which they painted around. Nice deep purple in that corner. Matched the paint at Bunnings and fixed.
As Freckle said- you missed it so you can't claim.
the inspection is to check that it's in the same condition as when you bought it, not to find the…[Read more]

OK You could get a LOC on the older property that will be your PPOR. Use that for legals and deposits. But make sure you do not contaminate it by using for private use AND investments. Keep private money separate.

Then each IP you buy get an 80% loan against that Do not cross them. Have each one as stand alone. You could get 85-90% loans but you…[Read more]

PrimePropertyInvestor wrote:
I recently read an article on RLA how heart les some landlords has become with all of no kids, no cats, no couples, no cocking, no games in garden, no, no, no…. 

As a landlords from experience I can say that most problems are made by landlords them selves dishonoring tenants and treating them worse than animals.…[Read more]

Great work so far.

Was the first house built to live in originally? What about the second? Are you going to live in that? If not why are you paying down the loan? If you borrowed the full purchase price (100%) does that mean it's crossed with the other loan?
So the sell price would be $440K so you'd have $250K cash after sale? So if you don't…[Read more]

We wouldn't just "attempt" to do something if we weren't sure of the correct procedures. I've seen some bad renos and that's where you get into trouble. Nothing looks worse, for example, a bad tiling job. We only do splashbacks. Always get a professional for the bathroom. Lots of stuff is pretty easy though if you have common sense and can…[Read more]

My hubby has always been handy with most stuff. He made me do stuff so I learnt from him and youtube is great too. He wouldn't do cornice so I looked it up. Then we had an argument about how to cut it. He cut it and it was wrong so now that's my job. LOL

We learnt something new with each reno. Different things go wrong with each one so you pick…[Read more]