Forum Replies Created
Go to google, type in ‘feng shui principles’ and I bet you get thousands of sites.
In cities with big Chinese populations, there are feng shui consultants.
If you’re building in an area where Chinese may be future purchasers or tenants, it’s definitely worth being aware of the major pitfalls.
I remember years ago working near Sydney’s Chinatown. The local Advance Bank did a refurb – they completely gutted the branch. This branch ran across a block so there were two street entrances i.e. you could walk in one door and out another. Now, the problem was that when they opened the reconfigured branch, it was possible to see right through the branch from one street to another. This is apparently very bad feng shui – it has very bad connotations for wealth. So all the local Chinese refused to use the branch and started to close accounts. So the fitout had to be ripped out and the branch reconfigured again.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auSend me an e-mail and i’ll give you the name and contact number of our Sunshine Coast QS – he’d know the good, the bad and the ugly builders up there.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auI did get a builder to check it out, and his response was:
“A well bonded cement topping over the slab may be required at some stage.”Given the apartment has obviously been renovated, you wouldn’t want to consider the above. Putting a topping on would require doors to be removed and trimmed etc.
At least with the clear topping you can see and monitor the steel.
If the whole block has been renovated, have you knocked on any doors to see if any other owners have problems?
You’re right to be wary of rust at that location.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auTyrone,
Get the Saturday SMH and have a look in the General Auctions pages. There are always 2 pages of auctions listed. Mostly they’re for office furniture. I think auctions are in the ‘Business’ section.
Try Trading Post, too. Kitchen suppliers often sell off whole demo kitchens. You’ll also find people who have bought an apartment with a kitchen they don’t like flogging it for next to nothing if you remove it.
Pulling a kitchen apart is pretty easy.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auHi Julie,
There is a world of difference between a hotel room and an apartment.
Which is it you are looking at?
If it’s an apartment and there are 3 people involved in the purchase, is it a lifestyle decision i.e. a place to holiday?
I have a holiday apartment in a managed building. With depreciation factored in, it’s a break even investment. I bought it partly as a lifestyle asset. It’s a 5 hour drive from Sydney (Port Macquarie) and we go there about 3 times a year. When we were little kids, we had a regular family destination and I want my kids to have that, too.
As a pure investment, I’m not sure whether I would have done it, though the capital growth has been very good.
The cleaning costs are a killer.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auPrincipal Place Of Residence.
IP = Investment Property
Tax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auIs it a ‘room’ or an apartment?
If it is the latter, be wary if somebody is telling you that you can claim 4% deduction on the building under the Short Term Traveller provision.
Also be wary of cleaning costs. In my experience, cleaning costs for holiday apartments can be up around 20% of the gross rent. this often isn’t fully disclosed in the glossy marketing guff.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auI just had a wander around the Property Expo (Sydney). No Adelaide apartments, but plenty of Queensland ones. As well as Dubai, China etc. Oh, and Central Equity are naturally there with a some Docklands apartments.
Tax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auI would have thought developers trying to sell off-the-plan would be running ads in The Adelaide Advertiser?
Property investing mags may also carry some ads.
Of course, alot of people would warn you to stay clear of off-the-plan apartments. The days of picking up a bargain that way are long gone. You’d only do it if you felt the market was going to move and that this possible move hadn’t been factored into the apartment price.Tax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auThanks for that Dave. Of course, given the anonymity of forums I don’t know who you are. I’m gratified that you and your clients think we’re okay.
As you know, we specialise in Depreciation Schedules. To be honest, when the costs are available, putting them together is pretty straightforward. (And of course, when the costs are available, the ATO expect them to be used.)
I do have a solution local to you for cost planning and general shooting the QS breeze etc. He’s been crunching the numbers on some projects that size for his own interest.
Send me an e-mail and I’ll give you the details.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auHi Dave,
Much depends on the nature and size of the projects. Do you need a QS for cost planning? Bills of quantity? Managing progress payments? Tax work? If you can give me a few details of what you require, I’ll find a solution for you. If I don’t think we can help, I’ll find someone who can.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auIs it something I have imagined, or will the big lenders cut people some slack if a partner gets pregnant? Simon or Rolf may be able to tell us whether I’ve been dreaming.
I do remember in the late 80s I lost my job and could could see a potential medium term problem with my PPOR. I went to the bank, alerted them to the impending issue, and they cut me some slack. And that was back when banks weren’t nearly as approachable as now. I can’t for the life of me remember what they said they would do. I think they said if I needed to I could skip a couple of payments and then make part payments for a while.
I was alright in the end – got another job – but talking to them before things got out of hand was a good move.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auSure, wouldn’t hurt to ask them. Of course they may not tell you – sometimes people feel a bit funny about that sort of thing. It’s not hard to get sales data, though. Somebody with access to it may PM you and offer to find out. Do you know the agents who sold the properties? They’ll often tell you what they got for them.
Preumably, you’re looking at selling as a last resort.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auAndy,
Send me an e-mail and tell me what you can about the unit and the complex. I’ll help you estimate depreciation. Digital photos would be great.
If you end up renting the place out, get in touch. I’ll find out which QS group were the ones on the project – that’s the best way to get a cheap but accurate Depreciation Schedule (as opposed to the cheap but dodgy ones around). I’ll get them to do it even cheaper than usual, too.
If there was no QS on the project, we’ll sort something out at minimal cost.
Whatever you decide to do, I would act soonish. If you’re moving, it’s much better to do it sooner rather than later, while your partner can still lift heavy things.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auWhat a great thing to do, Jaffasoft.
The skills you pick up are going to be so useful as an investor – it’s going to open up enormously the sort of properties you’re willing to contemplate buying.
I’d love updates on how the course progresses. That’s the sort of course I’d do if I had more time.
I tried to enroll in a welding course at Tafe a couple of months ago but didn’t have 5 hours spare to stand in the line. I’m making more things out of steel these days and I need to get my skill levels up.
Where are you doing it?
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auDo a search of the Forum chrisandfi. The Club gets talked about alot. There are people with good and bad experiences to share. The Club is a business that sources properties for buyers. From what I gather, the local club reps (like Derek on this site) are decent people who genuinly want to be helpful. The Club has been around for a fair while, too, so that’s says something about it. For a first investment, you could do alot worse than be guided by them.
I’m presuming it’s Steve’s second book you’ve just rad? Alot has changed since the first book.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auHi Dave,
For any residential investment property where construction commenced after July 85, it’s worth getting a Depreciation Schedule.
And as Derek said, in addition to depreciating the building you’ll be able to depreciate the Assets (Fixtures and Fittings).
We do a fair bit of work in Adelaide.
Feel free to give me a call or send me an e-mail if you have any questions.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auSend me an e-mail, Mario, and I’ll send you a sample schedule.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auJust on removalists, has anybody ever noticed that the best ones are the little wiry guys? They just keep going all day.
I’ve moved 3 times in the last 10 years and used the same company each time. When the guys show up, there are usually some big, good humoured Islanders and a couple of taciturn little guys. The little guys run the big guys into the ground.
The last move took 6 guys all morning to pack the 2 trucks they needed. We had a ridiculous amount of stuff to move – there were 2,000 books alone in dozens of boxes. They laughed and joked all morning.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auFor the last NSW regional property I sold, I used a buyer’s agent. The deal went out to their data base and the sale was pretty quick. Best thing was the buyer pays the commission, not the seller. No advertising costs, either.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.au
