Forum Replies Created
Sorry yuyu,
I missed your message on the 20th. We’ve got Quantity Surveyors in all capital cities and many regional areas. Head office is in Sydney and we co-ordinate everything from here.
Scott – 1300 660033.If it’s your key board at the office, just wait till everyone goes home and swap it. That’s what I do. Problem solved.
We’ve got a dud phone, too – it ‘crackles’. There are a dozen or so phones in the office and I reckon every two weeks I end up with the dud one. Nobody ever talks about it, but everyone knows it does the rounds and that when they get it, they just have to find an opportune moment to swap it.
Given that we lease our equipment, I probably should just send it back and get another one. I wonder who’s got the dud phone today?
Hi Greenjoy,
If you don’t need the schedules for your 04 tax, you might as well wait.
(And bear in mind I’ve got a vested interest in encouraging people to do them ASAP.)
What you might consider is getting them done when the properties are between tenants – it makes it much easier for everyone.
If you’ve got any questions about prices, timing’ tax rules pertaining to depreciation etc, please call.
Scott – Depreciator 1300 660033
I spoke to an agent in Armidale last year – sort of a friend of the family. I wasn’t looking for property, it was a social chat.
He happened to mention that there was a story doing the rounds of the local real estate agents that a Sydney investor had bought 24 houses over the phone through one agent.
Not sure if it was true or not. I do know there was a price surge in Armidale during the boom (as there was in most towns). Not sure what’s going on there now. It’s a good town, but yes the university would make the rental pool a tad transient.
I’m selling a cf+ property in Inverell (west of Armidale).
Hi Mini,
Walk-up = no elevator. So they’re usually 3 floors max. Perhaps a dozen flats. You’d know the ones I mean.
The buildings are often very sound and not having an elevator removes a potential maintenance headache. I also like the high ceilings.
Around Double Bay and Rose Bay there are some nice old blocks. And some lousy ones.
There are some on the eastern shore of Rose Bay – great position. I was out fishing and saw them from the water. I’m sure they’d be expensive.
I’ve never looked seriously at them as an investment, but a friend of mine has been looking for a PPOR and has seen a few lately.
Mini is right. I reckon Double Bay is great value – especially some of those old walk-ups.
Renovating in Surry Hills or Darlinghurst is a challenge. Some tradesmen I know aren’t keen on the area. Of course, you might be doing the work yourself. You may have the same issues as they do. Some tradies don’t like it because it’s often hard to park near the site and every time they turn their back something goes missing from either their truck or the site.
I knew a plumber who was doing some work in the area. He borrowed a mate’s dog to guard the tools and materials on his ute. The dog got nicked.
You might also do a search of the forum. There was a really long string a month or so ago about Peter Spann and he was an active contributor to it.
Peter Tracey.
I think the company is called Brian Tracey and co.
They’ve an accountant/planner in Penrith.
Thanks Redwing.
Dan, happy to have a chat at any time – 1300 660033. Adding to the existing answers:
1. To qualify for building depreciation, construction on the building needs to have commenced after July 18, 1985. Buildings constructed between that date and September 15, 1987, depreciate at 4%. After that, it’s 2.5%. renovations carried out after Feb 26, 1992 can also be depreciated at 2.5%.
2. We charge $715 for a Tax Depreciation Schedule. For Forum members it’s $660. Yes, there are cheaper ones, but many of the ones I’ve seen would not pass an ATO audit. For pre 85 properties, we have a reduced rate and a slightly different type of service.
3. There are lots of Quantity Surveyors around – check the yellow pages. Finding one up to date with the most recent ATO changes is tougher. Tax work is all we do and I’ve got around 70 Quantity Surveyors and Estimators on tap.
4. I’m not sure whether the stigma about fibro will continue to grow, or whether it will die down. I’d steer clear of it.Scott
Fat Tony,
My accountant is at Edgecliff – right above the station. His name is Peter Lang and the company is PLA Management. They’re accountants, not planners, though they would do some planning. I have a preference for property. I run ideas past them and they advise me on structure. They have a good understanding of property – they use us to do Tax Depreciation Schedules for their clients.
Make an appointment with Peter and see if you like him.
ScottI noticed something interesting during the boom. Agents were making so much money in sales commissions they were selling off their pesky rent roles. I wonder how those agents are going now? Smart agents look after their rent role as it pays the bills during sales downturns.
Our usual price is $715 GST inc. For Forum Members, it’s $660.
Yep, there are cheaper ones. I see them all time. Many of them don’t comply with the latest ATO rules.
We have that guarantee Derek mentioned, too.
[email protected]You said:
“We thought about bringing in accountants/financial planners etc. The problem is them bringing their agenda.”
Agreed, but they would also bring their clients. There’s no point having a seminar with great content if nobody comes. Advertising is expensive. You’ll no doubt promote the seminar through your data base. An accountant would promote it through theirs. A broker would promote it through theirs etc. The key is to find people who have data bases that they communicate with regularly.
Kay makes a good point about you finding a niche. Otherwise it’s just a general investment seminar and there are plenty of them. Penrith is your territory. Penrith people will be attending the seminar. Presumably you want to flog Penrith property. That area is huge and there would be lots of interesting local opportunities apart from just buying a house and renting it out. I was out south west of Eastern Creek the other day and I couldn’t believe the space. (Plenty of room for an airport.)
When it comes to presenters presenting their credentials, I rarely believe it. Just because someone says they have 6 properties doesn’t mean they do. And who knows what the audience will think of 6 properties. Isn’t there some book around that mentions 130 properties?
Sounds like an urban myth, Antoinette. The state govt in NSW would be paralised without the income from stamp duty. Of course, there is some relief for first home buyers.
I recall hearing their management fees are around 16%.
I was renting out a flat in a house I owned once. It was an old house that had been owned previously by a doctor. The flat was where his surgery had been. A lady came round to look at the flat one night. We were standing in the living room and she said: ‘I really like the flat, but it’s too crowded.’ In response to my quizzical look, she said: ‘I’m a psychic. There are dozens of people in this room.’ It took me ages to get her out of there – she started talking to them.
Redwing is right about guest speakers. If it’s just you, they’ll know the only purpose of the night is for you to flog property. If you have other people along, then it becomes an ‘information night’. If people are getting value, they will be more inclined to listen to a sales pitch.
We’ve been invited along to quite a few of these nights. Often there will be someone there talking about landlord insurance. There may be a lender/broker. A good idea is to get a local accountant along to talk about structuring purchases etc.
ScottKay,
I’ve got a house of girls and I’m determined to find the inner tom boy that must be lurking inside one of them. I took my 2 year old to the fish market last week and she looked at the fish lying there and whispered: ‘Fish sleeping?’. So she may not be the one.
Calvin,
I’ve always wanted to fish the ‘other side’. The brother of a friend of mine went over there fishing and didn’t come back. I might take you up on your offer some time.Gee, we’re way off topic now.
Wonga, if you want details on the +cf property I’m getting rid of, send me an e-mail – [email protected]
Well I’m selling a +cf property next month (A block of 4 flats in country NSW) so I can use the equity to buy a fishing boat. And boats lose value very quickly. How’s that for a silly investment decision.
ScottHi Dingles,
We do Depreciation Schedules in that area (we do them in most areas, for that matter). There may be a travel fee for Bendigo which I’ll need to confirm.
Give me a call when you have a minute.
Scott – 1300 660033
