Nope, as long as you follow the ATO rules they don’t care how many times you do this over and over again…..

https://www.ato.gov.au/General/Capital-gains-tax/In-detail/Real-estate/Is-the-dwelling-your-main-residence-/

Great idea…..”give up what you don’t want”, lol ever been stuck with “the furniture” on a deal?

Yes I think people are over leveraged…..(personally we are about 10% more than comfortable at 65% with 1.3m outstanding in V+F mortgages) but do you really see a snap back for global borrowing costs within the next 2-5 years?

I don’t mean Australian borrowing eg vampires charging as much as they can over and above any RBA moves.

What I mean is…[Read more]

@cattleya not sure the USA is doing that bad. Very positive jobs number today and oil is back up (ridiculous as means speculators raking it in…..consumer not benefitting at all).

After today’s results I think Yellen is a shoe-in to raise rates in June.

You’ve got variable rates….you should shop around.

St George will lend to expats, only condition as far as I know is max 70% LVR (though they waived it for us to go to 72.5% with our last purchase).

And would the developer the second cut of sale profits, eg you get paid…..after the investor gets their guaranteed rate?

And would you be guaranteeing the developer the first cut of sale profits, eg you get paid…..after the investor

Outgoings
Agency management 5% @$240pw rent is $624pa or $12pw
Insurance? $345pa from honan
Interest? lets use 80% @4.5% I/O $6732pa this means you would need to have a 20% deposit of $37,400 to put down.

Other prudent potential outgoings
Re-Lease fee $320 (1wk $240 + lease prep $30 + advertisings $50)
Vacancy prudent at 1 week@240pw
Repairs…[Read more]

Hi Terry,

Does it even matter if the costs to recover are expensive? eg don’t the defendants have to pay the costs to recover?

Once the apartment is sold costs will come out of that, eg first step is warn them legal costs are about to be incurred if not paid within XY days.

Lets say in 3-5 years from now interest rates got back up to 7% thereby causing a drop of 10-25%

ok…..

But if property goes up 3-4% every year between now and then (with the long term average being 8% then basically property over the next 3-5 years has gone up 9%-20% with the hope that it goes down 10-25% at that time.

For any number of…[Read more]

although its very euro-focused and they have a ton of potential issues (inc Brexit etc) its a overly pessimistic report…..I think Australia like always will muddle along in the middle and be just fine to average.

Why did you decide not to buy? remember sometimes….other peoples problems are where you make the most money, eg I love buying ugly apartments….ugly you can fix, crappy layout or location can never be fixed.

As a suggestion if you really aren’t going to go ahead…..why not post the address here on the list along with a handshake request that…[Read more]

Thanks Jamie, but was really hoping for painter/tillers that someone had specifically used rather than just some random dude.

Will post on facebook and see if I can get recommendations from friends etc, just figured with the number of investors here people would have a lot of contacts they’ve used before.

If its NSW its 90 days, though they can leave at anytime after you give them notice. Eg they might find a place this weekend and tell you on Monday….I’m leaving the keys in the office and send the bond and the next 22 days of my rental refund to XYZ

(I thought I’d mention it incase you are in NSW as just went through it), applicable…[Read more]

No one have any recommendation’s at all in Sydney??

You don’t mention the equity in the Mosman property.