I think your issue in Australia would be that unlike a sale for unpaid rates, any sale by the sheriff would still be subject to registered mortgages on the title.

Cannot claim as a deduction might be capital works or depreciation. Talk to your accountabt

You don’t need to convince me about the benefits of multiple occupancies on one title. I can buy multiple occupancy in a major regional city on a gross yield of 10.6%, with a net of around 7.5%. Much lower risk. I was just stating what kind of gross return I would want if I were to take on the risk of a small western nsw town dependent on…[Read more]

Seems a bit overpriced. 3.1% costs = 11,000 approx. If poor rural season and say half vacant the gross rent would be less than $24,000 – take away 11,000 costs, net return 3.8%

Maybe gross return of 15% based on the average annual rental received over the last3 years would be closer. If the properties had been fully let without vacancy this…[Read more]

Suggest you start with a good mortgage broker to see whether this is feasible. Give them as much information as possible.

Think outside the box. May be you might be better to buy and lease out for a year. i understand stamp duty on conveyancing in the ACT is tax deductible on IPs because it is actually transferring the lease.

Complying with fire regs. You will need fire separation between the flats including in the roof space. Suggest you get a competent building certifier to inspect and say what the regs require.

1. Deliberately lying on loan application ie saying there is/will be income (rent) that there won’t be. Obtaining money under false pretences.
2 & 3 No effect from CGT or Land Tax

Try and find some people who signed up for the $28k and ask them for their experience. It would be good if you could find some people who have not been recommended by the company.

Steve, thank you for taking the time to describe your weekend to us.

May I suggest you do some due diligence first. One of your posts suggested wedon’t ask for advice. You could post on this forum or another forum asking for people to recommend newzealand buying agents, accountants, lawyers etc.

Second, if you are tax resident inAustralia…[Read more]

You have not acquired the original property before 20/09/1985 which is what your link refers to. Do what TerryW says.

You could easily end up $30,000 out of pocket. Why was the land on that side excavated? Was there a pollution issue etc?

If the developer will buy the land back and pay back the settlement fees that sounds like a pretty good deal. This would seem to be a defect in quality rather than in the Vendor’s title and whether you would be successful might be questionable. Your best chance might be if Australian consumer law applies. Also should the Council have consented…[Read more]

From memory, the unemployment rate is based on people looking for work, not simply jobs. Jan/Feb would have more people looking for work – finishing uni, school, etc etc. Also from memory ABS doesn’t count you as unemployed if you are working minimum 1 hr per week.

Mining could result in subsidence. You would need to see what effectthst would have on development

You haven’t given any time frames showing when your father needs to settle or what he needs to make it happen. What does he need? Does he need to find say $280,000 plus to get 20% equity in properties 3 and 4.

a. can you or someone else lend it to him;
b. can he onsell any of properties 2, 3 and 4
c. can he sell his house and/or property 1 to…[Read more]

You haven’t given any time frames showing when your father needs to settle. What does he need? Does he need to find say $280,000 plus to get 20% equity in properties 3 and 4.

a.

What does your lease say about how the payment for gas by the tenant is calculated

what state check ehether you can pass it on if the flat is not separately metered

read the rise and fall of the house of vestey by phillip knightley

from memory vesteys were able tokeep moneyoverseas in acomplex trust setup hard to seehow this could work in australia with an australian resident trust as ato taxes trust on the undistributed income

has she got a ruling from the ato and senior counsel’s opinion

read the rise and fall of the house of vestey by phillip knightley