Forum Replies Created
Hi Grubba,
Recommend you canvas as many of the local agents as possible. Bear in mind there may be some types of property that may be more attractive to tenants than others. Depending upon the area the property is located this can be anything from a 4 X 2 house to a single bedroom apartment.
The questions you ask need to be matched with the type of property you have or are about to purchase.
Derek
derekjones1@bigpond.comProperty Investment Support Available.
Certainly the stats I see indicate Perth and Brisbane rental market is firming. All we need is for more landlords to take a more proactive stance with their rentals.
Derek
derekjones1@bigpond.comProperty Investment Support Available.
Hi all,
Just adding my little bit – have been ratcheting up the rents on all properties in line with decreasing vacancy rates.
Derek
derekjones1@bigpond.comProperty Investment Support Available.
Originally posted by kinks:i need an avatar, please fix
Hi Kinks,
If you logon you have the capacity to add an avatar on your user profile. There is a list of options available that allow you to select from.
Derek
derekjones1@bigpond.comProperty Investment Support Available.
Hi Angel,
Sorry for being a contrarian but – you are borrowing ~$36K, using ~$11K to earn a net income (before tax) of $560/annum.
I reckon there are more effective ways of making money.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping.
Hi Gabbo,
Recommend you go to the ATO website and download a copy of the CGT Guide. It is very comprehensive and covers most issues surrounding CGT.
http://www.ato.gov.au/individuals/content.asp?doc=/content/43486.htm
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping.
You can also try http://www.depreciator.com.au – Scott (AKA Depreciator) is a regular poster here and has an office/representative in Perth.
PS Scott – your website needs to include localities you service – at the moment it comes across as a Sydney only thing.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping.
Hi Hung,
To me you are better off doing all of your financing through a broker (especially if they are investment savvy) as they will be able to help you structure things correctly from the beginning.
A good broker should be part of your team from the beginning along with an accountant and solicitor as you progress. Having these ‘experts’ in their field with you along the journey will be to your advantage.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping.
Hmmmmmmm (as in sceptical)
2% per day on your capital = +700% over the year. Reminds me of a pyramid scheme.
Maynard has been a member for almost 12 months and only two posts are about PIPS.
Then along comes Alibaba who only joined today and extolls the virtues of PIPS.Now why should I be sceptical.
I think I’ll be better off buying Nat’s bridge and opera house on a package deal.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping.
Originally posted by FireCaesar:Guys, in fact I stumbled upon these programs yesterday morning and found their “investors” to have mixed feelings about this PIPS thing. 1 thing led to another and by chance, I found a truly amazing opportunity where your money is doubled within 60~90 days (it comes closer to 100 now though).
Invested some money into it slightly later. I found all their members to be EXTREMELY pleased and happy with the program and some of them have met the founder personally and found him to be righteous, honest and has integrity. I liked what I heard so I went ahead with it.
Hmmmmmm
Stumbled on it ‘yesterday’ – then found I could double my money in 60-90 days (now 100) – met lots of happy customers – invested some money.
Seems like you have been ‘sold’ something.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping.
Give FRC a call. They are in Canning Highway South Perth 9472 0303 (Brad, Robert or Emile)
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping.
Originally posted by Lumwood:listed by suburb month to month with data stringiing back atleast 10 years.
As others have said Residex (Eastern Seaboard) and possibly Matusik would be your best bet.
I wonder, based on your desire for month by month statistics, whether or not you are threatened to be engulfed by paralysis by analysis. I also believe that most property statistics are compiled and published on a quarterly basis.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping.
To me the answer lies in why you initially bought the property and whether or not it is doing the job you wanted.
Bear in mind the agent’s ‘sale price’ may be a little ambitious in order to secure your listing.
Any profits you are planning to take at the moment will be eaten away either through agents fees and/or CGT liabilities. If you plan to sell then wait until 12 months have expired so that any CGT liability is halved.
Property is not a get rich quick scheme and 8 months is a very short time frame in the life of a property investor.
It may be useful to identify the locality as others may have some detailed information about the area that may help in your decision making process.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping.
Try
http://www.osr.nsw.gov.au/pls/portal/docs/page/downloads/other/vendor_duty_factsheet.pdf
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping.
Hi Stuart,
Agreeing with Yack – there seems to be little point in selling the IP as it won’t even clear the PPOR debt after selling costs and CGT are taken into consideration.
As such I belive you are better off hanging onto both properties and ensuring that all legal steps are in place to minimise your IP outgoings and maximising the paying down of your PPOR.
1. Ensure IP is interest only.
2. Make sure you have a QS report done (if appropriate) to maximise legal deductions.
3. Submit a PAYG Variation advice to assist with the cashflow.
4. Set up an offset account linked to your PPOR loan for all income to reduce your monthly interest bill. This can be further enhanced with the use of credit card to pay all bills, thus retaining cash in your offset account for as long as possible which helps to further reduce your monthly interest bill.Having said that you do need to ensure the plastic doesn’t go into melt down and that what is put on the card is paid off every month.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping.
Hi Calvin,
Steve is referring to the ‘PM’ button at the bottom of each post.
I believe the initial question has been satisfactorily addressed and as such ‘topic locked’
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping.
HI Female,
They are considered as acquisition costs and, like stamp duty, are not deductible. Thay can with necessary paperwork be used for CGT matters.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping.
Originally posted by pelicaninvestments:How did you start to teach your kids about investing & business ?
My eldest son is now 8 and I’m keen to start to teach him the basics….. As usual at 8 he still thinks money grows on trees…
Hi Pelican,
I have a 16 year old daughter who thinks the same thing – so when you have the answer give me a call.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping.
Originally posted by femaleage20:I to am interested in buying my first deal through a bird-dog, can I ask does anyonw know if their fee’s are tx deductuble?
Short answer – no.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping.
Originally posted by willdbc:However I can see the potential downside to this ie using equity for non investment.
Hi Will,
You have identified one of the key issues – adopt the discipline required to prevent this from happening. By the way this is an issue for equity realised from PPOR and IPs – it is not confined to PPORs only.
You will find that most successful investors adopt a strong sense of discipline and will even delay any gratification provided by the latest ‘doodads’ in order to create real wealth for themselves.
For me property investment is best described as an accumulation of wealth process and initially there are sacrifices to be made.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping.
