Forum Replies Created
Hello Willi,
WA is one of them..
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Andrew,
This is a great idea. The west is generally left out of these types of loops.
Tracey, is this something you are going to co ordinate??
I would be happy to assist.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Fun,
Unfortunately you have not taken into consideration one vital factor. That is Foreign Investmnet Review Board (FIRB). As you are not a permanent resident, you are eligible to buy property, however, it can not be rented out.
You will be able to apply under a student Visa, which limits you to 300K, and can be established or new properties. An alternative, is to have a relative overseas purchase the property, which can then be rented out. The limitation are that it needs to be a new property. This generally rules out the 100K properties.
Finance for overseas investors is generally nota problem, as long as they can service the loan, and the valuation of the home is favourable.
There are some other issues you should consider too.
1). Your taxable income. As I presume you are just studying, the tax benefits will not be as high
2). Armadale and Gosnells attract some unsavoury characters. You will do well to take out landlords insurance.
3). These areas will not have substantial growth.
4). These properties will be old, and therefore not be able to claim a premium on depreciation benefits.
5). Investing closer to the city will bring greater rewards, however, you will need ot invest more.
6).Properties should be rented within 4 weeks.
With so many properties available in that area, you may find it takes longer
7). The cheap properties you refer to from Sydney and Melbourne, are simply available as the population in those areas in twice as much as ours. These properties will also be rented at a higher rate, due to many factors, including location (ie closer to the CBD).Hope this helps.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHi Avranjes,
They are still available, however, the trick is to find those with the development potential.
If you have the time, take a look at Bourke st, just off Charles St.(a restaurant called bella cucina is on the corner.) This will give you an idea of the areas potential. These homes are valued at around 300 – 400+.
Should you want our assistance in locating these properties, email me at [email protected]
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello again Sebastian,
You will find $50 to be an average. However, this will differentiate by suburb, area, and possibly even property type.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Avranjes,
With 280 you can do quite a bit. Having not taking into consideration your financial situation, and without knowing your long term plans, North Perth is still a winner.
Vic Park, lathlain, Carlisle, and surrounding suburbs are places to keep an eye on.
The Joondalup region will also be an area to keep an eye on.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auAndrew,
Perhaps try FS Profrssional partners. They are on the corner of charles and scrborough beach road.
They sepecialise in investment properties.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Avranjes,
There are many to choose from. However, it all depends on your budget, and your investment goals.
Genrally, if you dont mind an older house on a larger block, then perhaps North Perth is an area to look at. The area is grossly underdeveloped, and is showing great potential.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Sebastian,
Thankyou for your compliments.
We are independent and therefore do claim fees from anyone apart from our clients. We whelp with every aspect of the property purchase, and make sure you walk away knowing that you have made a good investment.
These days, a comprehensive service is needed, as with the abundance of information out there, it is easy to be confused, and make uninformed decisions.
Glad to be of service to you.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Sebastian,
Joondalup has always been a favourte, as the rental market will do well. (see trueblues comments).
You will find that with most internatinal students they are well behaved. They have a fear of causing disruptions, due to their visa requirments.
Bentley is an excellent area also. International students will rent here at a premium. Place in some furniture, and a cleaner to come in once a week, and you will enjoy a healthy return.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Stephen,
You will also find that 4% depreciation is allocated only to holiday or tourism accomodation. Some buildings have a combination of both, however, you may want to speak to your financier as a precaution. Banks generally dont like serviced or leasehold apartments.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Cazdean,
I think stuart summed it up best. Its simply too high a risk, and they generally have a bad reputation with banks.
Take a close look at the management contract also. They may require the apartment to be refurbished at your own expense, after a certain period of time.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Andy,
I guess the first thing you need to do is differentiate yourself from your business. Even though you may be a sole trader, you are deemed as two seperate entities.
If you are buying the house under your business, then GST is claimable. However, if you are buying it under your name as an individual, then its not.
When it comes time to settle the property, the bank will do a valuation on your home. This is simply so they know they can recoup their loan, should you not be able to pay it. The property may be valued more than the loan, however, the bank will only be concerned if it is below.
Stamp duty is paid on the purchase price. Unfortunately for new homes, it is much like paying tax on tax.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Mjk,
You can send me your postal details, and I will send a copy over to you. I have a few spare copies.
I can be reached at [email protected].
Alternatively, you can contact the West Australian direct. Im not sure if they will mail it directly to you, however, they may hold electronic copies that they can via email.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello MJK,
Yes, Broome and other regional areas are looking great at the moment.
A mild “boom” did arrive, however, you never know its happened until after the event.
For new homes, take a look at Carramar. The success of the Joondalup area will flow on in the next couple of years.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Whindes,
Just a quick addition. You will also be entitled to the capital gains 50% concession, as you would as an individual.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auFullout,
GST doesnt apply to new land, CGT will be payable, and stamp duty will be payable regardless of the property type, as it is paid on the contract itself.
As for the reselling, there is nothing illegal about making a private agreement with another buyer. Just be sure to disclose everything to them.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Kellie,
Are we able to discuss this privately?
Email me at [email protected], or call on 9349 1332.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Kellie,
Being from Perth, and specialising in research and providing cash flow positive properties to eastern states and other investors, I understand your plight.
Firstly, you will need to look in the inner city suburbs. Secondly, you will need to find a descent apartment, or even townhouse/villa. Thirdly, you will need to have all of your costs and income, fully documented, and analysed.
From here, you are able to step forward.
In regards to the subdividing, were you wanting to find a cash flow positive home, and sell the back portion??
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello arivic,
Perhaps as a further suggestion, calculate them side by side, and see which is most suitable to your situation.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.au
