Heed what Terry is saying.

Hi Squirrel,Seems you have enough 'don't use these people' messages here. You may have to look at Plan B. Even though there are advantages to using one property manager for all properties (I assume this was a goal you were seeking) it would appear as if you may need to look for recommended property managers in the areas you have your…[Read more]

Hi Luke,I assume you are referring to strata management rather than property management. On this basis. Having seen this sort of 'arrangement' before whereby the developer often sells the strata management rights off the plan with a long term contract in place.I am sure the strata management contract is pretty much water tight and you may well be…[Read more]

Hi Tweaka,Not classifying myself as wise but without knowing the ins and outs of the deal there are some key issues and answers you will need to find.1. Check your capacity to finance this property. As it sounds like dedicated student accomodation the bank may be reluctant to leand at 80% or more LVR. If you were relying on is not available it may…[Read more]

For about $500 I would get my own done independently.

Seems too many people were onto this and the ATO has reacted to a growing trend. In some ways it is a bit like drug testing athletes – the drug testers are always playing catch up.Ashley – I read this ruling slightly differently to you and that is the issue being the parking of rental income in an offset account rather than in an 'operational'…[Read more]

Tis an interesting observation.A number of local businesses have made the same observation. Interestingly enough there have been a few articles surrounding this topic in recent national papers. One article which caught my attention was this one http://tinyurl.com/3q7yz86 from 'The Age'

Hi Jess,Our is at http://eosproperty.com.au/blog

Some people get off trying to bash and bully their way forward without consideration of others and these people could be using this strategy to cover up for their mistake. Reading your post and without seeing your contracts I think you are safe. But get legal advice. Small cost big benefit – you either find out you aren't liable = no worries. You…[Read more]

Best bet is to ring some other similar managers in the area and see what charges they have. On top of this the relevant state real estate authority website may have some information.As a rule of thumb you will find osm + holiday rentals will be on the high side anyway.

Not all relationships stand the test – this to me is a greater worry. But – tenants in common is often used to weight ownership so higher income can access more claims this helping with the tax situation. Weighting ownership (for example to 75/25 split) means the person with 75% ownership gets to claim 75% of all costs but must also declare 75% of…[Read more]

Hi Jodie,Not a broker – so listen to the experts.I assume your loans are cross collateralised – when banks have a second mortgage this is normally the case. In your instance your total assets are worth $590K with debts totaling $450K. At this level your loan to value ratio debts/assets is 76%.If you refinanced your loans up to 80% this would…[Read more]

If they both 'own' the property then both names should be on the title. If there is a huge difference in income levels and contributions being made towards the property then a tenants in common arrangement with unequal ownership ratios may be suitable. End of the day they are buying the property together and having both names on the title is…[Read more]

I have no issue with FHOG helping kids get into their first home has to be an admirable aim. I have great issue with the FHOG Boost scheme of a couple of years ago. The total subsidy available was too great and meant some people could buy a property with literally little or no money down. (This was more the case in the early stages of the boost…[Read more]

Key question – what does Nana want?Seems the post is all about the 'kids' – does nana have a stated opinion?

Only the interest costs associated with a loan are deductible.Any principle is considered a repayment of capital and therefore not deductible.

Maccacha wrote:
we've met accountants who will do our tax but are not keen on giving financial advice/planning, we have also met Financial Planners who'll give financial advice on shares, super & insurance etc but don't want to have anything to do with properties…………….

Hi Maccha,You'll often run into this problem as legislation in…[Read more]

It can be done – if you are committed to it.I have 19 yr old niece who has just put an offer on a block of land in one of Perth's northern suburbs. She has been employed for just over 12 months and is on $35K. Her brother is still at uni and has his own 2bedroom apartment in another suburb closer to Perth.The nephew got a kick along with the FHOG…[Read more]

Was there any FHOG discounting of statmp duty on the second property. I understand some people claimed FHOG on one property in one person's name and then repeated the process in the second persons name. If not then OSR is only interested in the value of the property at time of purchase. Whether or not it is an investment proeprty or home is…[Read more]

Just adding a slightly different perspective – all of your time lines (stated and experienced) to date have been very short. Property is a longer term investment so I would counsel you to think longer, rather than shorter, timeframes of around 10yrs or so.