Not an accountant etc etcBased on teh information provided there will be no tax payable provided this proeprty has been your PPOR for your whole period of owenrship before moving overseas. The property was your PPOR and you will sell it within the allowable 6 year window, Whether or not it has a lease extending beyond the 6 year period is…[Read more]

Not sure that our banks are AAA. AA maybe – depending upon which ratings agency you refer to. Be aware a (some) ratings agency/ies also rated the interbank loan packages which included Ninja Loans as AAA.

Speaking with a broker today who had the opinion that banks will raise fixed rates in an effort to offset the rising cost of funds. His thoughts for what they are worth.

RP Data's blog from last week makes some interesting comments about this question. Click here to read

Agree with Jac – not a good investment. Just cause the selling agent says it is a good investment doesn't make it so. Finance for something like this could be problematic. Once you have finance issues then you reduce the market size and cpital growth is constrained because the number of buyers is reduced, You would be better off aiming a little…[Read more]

Geez – I had some typos in that post didn't I.Given your relatively low deposit savings I would be angling towards a 95% loan.On this basis you will need the following:Deposit – $25KLMI – $10K (estimated)Solicitors fee – $2KMiscellaneous – $2KTotal $40KClearly you are close. Note I have assumed you will qualify for stamp duty discount for FHO in…[Read more]

Not an accountant but:Travel is usually claimed on a per km basis for total travel up to 5000km. Once you go over 5000km then you are able to claim travel costs as a percentage of total running costs. You will need to be careful about this whole situation;. As Luke has stated some 'repairs' will be classified as renovations and will therefore be…[Read more]

I recently participated in an online debate discussing this very issue. If your properties are paying their own way and you have some alternative income sources you can hang onto your properties pending a sale at the relevant time. A staged sell down is a reasonable option – if you have owned the properties for more than 12 months and you sell…[Read more]

Hi Bob,Just going back through some old posts and caught this one.Note – vested interests apply here. I am employed by Eos Property Group so take what I say with a grain of salt.Just calrifying some of your numbers.Intiial buy in figure is correct at $133KConstruction is correct at $262KTotal investment is $395KFeasibility showed an estimated on…[Read more]

Hi Mrs C,Best bet is to ring the person who handled the settlement of your property and get their opinion.

You dag!Ooops – that comment is probably showing my age

Not a fan of holiday lets – it seems people who buy holiday lets, in general, haven't managed to apply an analytical approach to their investing. They are confusing life style and investing.Holiday letting does throw some interesting tax issues into the mixer too. For me – invest where the compass takes you and then holiday in your preferred…[Read more]

Ditto

Hi Liz,Are you stretching yourself too much?According to your post you have managed to save $30K and in a subsequent statement you talk about buying somethign at $500K. At a 95% lend you will consume $25K of your savings on teh deposit alone. Now I know FHOG and stamp duty discounts may apply here but it seems, to me, you may be strecthing…[Read more]

For me:Park the cash in an offset linked to your PPOR loan and use the equity from existing properties for deposit. Just make sure you set your loans up correctly – see a broker about this. As for second part of the questioon – I am big on having a property. Not sure that a simple 'buy and hold' strategy is going to be that beneficial in the…[Read more]

LOE needs property value increases and favourable lending conditions. If one of these is not present the whole concept falls in a heap.Neither of which are present in Australia at the moment (and may never return for a true LOE approach). The ultimate LOE approach is a reverse mortgage and speaking withssome from Police & Nurses today it would…[Read more]

ggbeh wrote:
My question is: When should I consider engaging a broker/bank to get funding in preparation for settlement on the apartment? As it is an off-the-plan purchase, there is no exact settlement date so I would like to ensure that I am adequately prepared to avoid any penalty fees.

Are you saying you put a 5% deposit on a property…[Read more]

steve3110 wrote:
Hi DerekPM sent . I missed your reply apologies

Tis OK – I am a middle child.PS – not really but it was the first quip I could think of.

HI Steve,Michael has covered a lot of key details in his responses – if you feel the need to talk with someone face to face, while I don't live in Perth I am in Perth this weekend on my way to Sydney. Happy to chat over coffee somewhere.

Hi Goldies,Are you doing this through a broker?Reason I ask is that your broker is best placed to recommend a response if you don't get the response you want. A few years ago Westpac would accept a valuation from their panel valuers if it was submitted with the loan application – CBA wouldn't. I used to organise my own valuations (using Westpac…[Read more]