Simon_G,

I have 3 properties in the Rockingham area, and until recently, lived there for the last 12 years (just moved to Adelaide) but I still maintain them due to the fantastic growth of the area (close to 18% over last 12months, in the 20’s for the couple of years prior to that). That’s based on bank valuations.

I would recommend you look…[Read more]

carly.matt,

Maybe you have just received some good advice and missed it. Find an investor group in your city and go along with your mind open (but your hands in your pockets for now).

Damo

cama_20,

Your situation is quite favourable, as well your knowledge of the property (having lived in it already) you are in a good position to buy the property at a reduced rate. The current owner will have to seek your permission to show any other perspective buyers around.

In WA (unless you agree otherwise) 7 days written notice is required to…[Read more]

Hi there Endless Summer,

Sounds like there are plenty of people out there going through the same issues. The common thread I guess is “It can be done” but its hard work (isn’t everything when you first start).

I have 3 children (10,5,& 14 mths) and we have been increasingly involved in real estate investing over the last 3 years.

We have been…[Read more]

jassi13,

I have recently moved from Port Hedland after working there for 12 months.
The rental returns are great especially if you have a house in the executive market, but the entry costs are high.

The rental turnover is also cause for concern in the cheaper places. There tends to be a lot of people move to the area for 3-6 months then leave…[Read more]

Hi all,

I attended yesterdays Masterclass in Perth. I found it very useful and well worth the money. I must admit I don’t usually go to property seminars but I decided I needed something to get me over a hump in my investing road. This session gave me the insight into new ways to approach my goals.

I have three IP’s and read everything I can…[Read more]

Thanks Dazzling,

I’m starting to find there are quite a few of us around.

WA – The land of opportunity

Happy to be involved in a gobfest sometime.

Cheers,

Damo.

Can anybody provide a reference to an ATO document or something I can read regarding nominating a rental property as your PPOR for 6 year to remove CGT?

I am in a similar position and am having trouble finding information.

Thanks

Damo.

Thanks island dream,

Sounds like we have very similar thoughts for our futures. Although you are much further down the track, how long have you been doing what you do?

Have you ever thought of one quitting full time paid work to pursue the investing / renovating full time?

Thanks to all who have replied to date,

To make the cashflow issue more bearable, we have the options of my partner returning to work (pity she is great with the tools), or drawing from a pool of cash set up for this purpose (which would need to be repaid on the sale).

I would only do this type of activity 2 -3 times so the ATO don’t see it as a…[Read more]

Thanks for your encouragement Eric,

Sorry about the confusion, by multiple PPOR I meant, I would buy one as my PPOR and then sell it to buy my next PPOR, otherwise I would be slugged for CGT.

Damo.

I agree with scotty3, ring around and ask their rates, don’t be afraid to haggle. I recently used a new agent to manage an IP, during the negotiations I asked for reduced fees and a lower % of the rent (ended up with 8% but much lower inspection / report fees).