Hi Merahma,

I have no knowledge of Motion Property so I'll confine my comments to NRAS property.

Much of the NRAS property I see seems to be over priced when compared to similar stock in the local area and much of it is sold on the attractiveness of the tax advantages. If you are seriously looking at NRAS property then you will need to make sure…[Read more]

Hi Merama,

Financial planners/advisors are not qualified to advise in property. Their training and qualifications do not extend into direct property investment advice.

Before you go too much further you would benefit by spending sometime broadening your knowledge and understanding of what is possible in the property field.

In the meantime it is…[Read more]

Also recommend you check out this thread

https://www.propertyinvesting.com/forums/community/heads-up/6845

Some other authors you may wish to explore include:

Jan Somers
Peter Spann
Michael Yardney
John Fitzgerald

I got something from each and everyone of them.

Others speak highly of Margaret Lomas books.

Did you look at body corp costs before you chose this property?

The reason I ask is that by your own admission the rent has pretty much covered the mortgage and utilities so I struggle to understand why you haven't been able to cover the body corporate costs.

While you are doing some navel gazing the fact that you are not paying your body…[Read more]

Dubstep wrote:
 

How could I possibly be above the likes of TerryW  ? 

.

Terry is like a scratch marker in a handicap race. He'll get there – it is just a matter of time.

I might add this forum is better for Terry's contributions.

PS Others count too.

No – good residential property depreciation reports expire when the property is 40 yrs old. There are a few variations to this but in todays world that is a pretty accurate.

Hi Songrad,

If you do intend self-managing make sure you know the tenancy laws of the state the property is located in. Many state government consumer affairs type sites have the information you'll need. 

You will need to provide each tenant with an incoming property condition report. The tenant will compare this report with the property and…[Read more]

raj_paras wrote:
I am a bit skeptical about going with the second option as I would need to pay tax on the rental income as well as capital gains tax when I do decide to sell it..

Limited information so take what I say with a grain of salt.

Buying and selling in the same market is not necessarily a bad thing. As I see it selling your…[Read more]

If you have plenty of equity – why not a fire sale?

Could also use a small deposit and place remaining funds in an offset account.

beans wrote:
Would I be naive in suggesting below as a very basic calculation forgetting about negative gearing, depreciation, tax etc
Term Deposit
$200k x 5.25% = $10 500.00 / year 
 
Putting the $200k towards property as a 12% deposit on $1.65mil portfolio
$1.65mil x (estimate 5% property increase) = $82 500.00 / year

Not naive – just need…[Read more]

ILIKEMONEY wrote:
I would like to know if anyone had any suggestions on how to invest 200k.

The question is can i get a better return than this in NSW through property

Hi ILike,

You do not need to limit yourself to a $200K purchase.

The $200K could become deposit money. Further borrowings on this could realise further borrowings of around…[Read more]

newJo wrote:
I feel quite loyal to my bank and figured they would know what to do

Hi Jo,

Recommend you grad yourself a good broker – your 'loyalty' could become very costly further along your journey – if it hasn't already.

A banks first priority is not to you – it is to their share holders. For this reason they will more often than not…[Read more]

hi Wez,

Your state based Building Services Authority can also provide you with advice.  Typically the normal process is:

Contact builder first and see what sort of reaction/response you get.

If you are unsuccessful then use a building inspector to help you determine whether or not the fault is a warranty issue or not.

If it is use the…[Read more]

renel wrote:
. Just recently I saw advertised one run by a lady name Cherie something.

Probably Cherie Barber – there are a number of discussions on her 'stuff' on this forum. If you do a search on the forums you'll get some feedback on people's perceptions of her material.

Hi David,

A comment that may be of some assistance to you.

If your property is negatively geared then you may wish to consider completing a PAYG Withholding Tax Variation which when combined with a depreciation report (if relevant) may provide some short term cashflow relief.

Your first post indicates your cashflow is 'OK' but you may wish to…[Read more]

davidts wrote:
My question is, if I am forever leveraging off my IP to purchase more IP I will be forever negative gearing. How do I change this positive gearing so that I have CF+? Eventually I want to live off the CF+.Thanks.

A couple of quick comments.

Rents will rise at some stage in the future at which your existing property will become…[Read more]

Pat Mc wrote:
My long term goal is to stop working FIFO in 3-5 years and be a full time property investor .

Hi Pat,

This is the key statement for you.

How to do you propose to achieve this? Are you looking at a passive income stream or are you looking for a capital growth and sell down strategy?

The answer to this question then determines…[Read more]

Hi Adis,

Not impossible.

Some of our clients were in a similar situation as you are with $140K available. The borrowed another $274K to complete a development worth $550,000+ . Rental estimates have indicated a gross rental income of $1300/week is achieveable.

They intend ploughing the rental income back into the construction loan (or…[Read more]