We are currently downsizing our home with a view to building a new smaller property in the neighbourhood.New place will be designed so that it could become a B n B in the future and at the same time cater for the kids and their families visiting from time to time. New place is immediately adjacent to my folks so they will be able to remain in…[Read more]

Try Classic Conveyancing.Done plenty of work for me. Fay (Principal) very efficient and has good staff on board. Note they are only conveyancers not propertyy solicitors.

PAYG Tax Variation is a forward estimation of your tax position and differs from your annual tax return. After completing and submitting your PAYG tax Variation the ATO wil send your employer a letter advising them to reduce your pay period tax by the determined amount. If the property is relatively young the depreciation deductions could be quite…[Read more]

Have you got a depreciation report and submitted a PAYG tax variation. This will ease the pain and may alleviate the need/desire to sell.

Nooob wrote:
I did talk to two financial advisors both from two different banks with not much of a positive feed back and then I found this post in tips:

Hi Noob,As a rule of thumb most financial planners are not fully supportive of property in any wealth creation plan. I do know a couple who understand the importance of property in an overall…[Read more]

wendywoo wrote:
I would really like to learn more about how to avoid cross collaterizing.  How is it possible, when you need the equity in your PPOR as security for the IP loan? Thanks for info.

Not a broker Wendy and I am sure one of the qualified brokers, Terry, Jamie or Richard etc will pull me up on any of the finer details. But most…[Read more]

Hi jnb,Welcome and I hope you hang around and grow with the rest of us.Reading your post a couple of times it would appear as if you are yet to really work your overall strategy to determine what it is you are trying to achieve. Reading between the lines it would appear your focus is too heavily orientated towards tax savings rather than wealth…[Read more]

Qlds007 wrote:
First valuation – $496,000.Second valuation – $585,000 (different valuer)Third valuation – $550,000All 3 valuers came off the Valex system.

And they will all say they are right and the others are wrong. Amazing!

That;s strange as I have heard on the grapevine that 'Your Property' (?) magazine is in the process of releasing their top 100 hotspots and Hedland (as an example only) is in their top 10. Got this from a magazine insider who was trying to convince us to buy some advertising space from them. I wonder if the problem is more related to availability…[Read more]

Hi Kristy,Methinks you also need to look beyond the property.As matters stand at the moment it would appear as if your focus is on grabbing a property without any due consideration to the long term picture. Some points for you to consider.1. How will you and your brother's partnership develop?2. What exit plans do you have? – it is highly unlikely…[Read more]

Hi Dave,Not sure of your whole situation but you really have two options. Do the maths to see which one works for you. 1. Stay wear you are and wear the costs.2. Pay the costs and move on. If you cannot do option 2 then I would suggest your only option is 'learn the lesson' and carry on. Worst case scenario is you know what your commitments are…[Read more]

in my opinion you are over-exposed in a 'smaller. mining town' Places like Emerald may be OK for one property as a complement to the remainder of your portfolio but, for me, not a place to have your whole portfolio. That is not necessarily a knock on Emerald rather a knock on an aspect of your strategy to date.

newbiebeginner wrote:
if anyone out there has had anything to do with NRAS and if its a better option than simply an investment property of our choice.

Hi Newbie,Whatever you end up doing make sure the fundamentals of the property are good and are consistent with your investment goals. NRAS properties are often sold on the tax benefits and you…[Read more]

Backing up an earlier comment by Keiko about the media focus. Yesterday we had a fall in the ASX of approx 1.8% (I am not a share investor so I don't know the exact figure) and we had major & large print headlines talking about $24b being wiped off the value of shares. Fast forward almost 25 hours and the share market has recovered 1.5% (4.45pm on…[Read more]

Yes you can – the QS report generally covers a 40 year timeframe of the balance thereof.In your case don't submit your tax return until you have your QS report.If you have previously submitted a tax return without a QS report get your accountant to amend your previous returns. You have two years (from date of submission) to make any amendments to…[Read more]

Qlds007 wrote:
  an unecumbered home.

Yep that is the only advantage I see. Non-deductible debt will remain albeit 'hidden' in a second loan against refinanced IP.As an afterthought – if you are going down this pathway lake sure you split your new loans so the 'PPOR' component is clearly distinguished from the IP component. Make things much…[Read more]

All you are doing is 'shifting the debt' – no advantage other than an unencumbered home. On paper you may have paid the home off but the debt remains.

Yep!Bear in mind your depreciation report will last for 40 years (or the balance thereof) if it is a new residential property.

Hi PF,A QS report takes about 6 weeks to prepare – depending where it is. A property in a more remote locality may take a little time to get organised unless you want to pay through the nose for a one off inspection. In many cases the QS will wait until after settlement as they like to use stamp duty figures etc to assist with their report…[Read more]

Further to my previous comments I caught this article online article. http://www.watoday.com.au/business/apartment-rents-tipped-to-fall-after-glut-dilutes-market-20120603-1zq1l.htmlNow I appreciate central Melbourne is not the eastern suburbs but there is a possibility of a knock-on effect flowing through to some of the outer burbs.