thankyou for reply.
Hopefully I have found an honest builder who seems
to do a good job. My solicitor also seems very familiar with drawing up a suitable contract.
If the first venture works out ok, hopefully I can do a few more
Regina

Actually that clarifies a few things.
I was feeling a bit anxious about having to hold a wrap loan for 25 years, because I will be ancient by then and probably wouldn’t want to bother with that sort of thing anymore.
Regina

I agree totally with Tara. It is better to spread the risk and buy two properties for that price. It is always easier to find tenants in the lower rental price range, because that’s were most tenants are.
If one property is vacant, you’ve got a good chance of the other one being tenanted.
If you provide clean premises and perhaps do the lawn…[Read more]

Hi, I can’t comment on the wrap issue, but one way to minimize
land tax according to my legal advisor is to have a separate trust for each property, therefore, each is in a separate entity and not in your name taxed as a whole.
It costs apparently 500 to set up each trust but well worth it also in terms of liability issues.
I think land tax is…[Read more]

I plan to have all my properties in the company and trusts positively geared, one comes with bungalow, a great cash flow proposition. The others, I plan to sell off the back yards, subject to council approval
and reduce the mortgage to a positive cashlow.
The property in our name, well its only one negatively geared (block of 3 units)property and…[Read more]

Apart from a great lifestyle decision, we have owned our home for 10 years. we had finished paying of the mortgage some years ago now and then decided to start investing. It was quite a zig zag pathway with a few errors, since we had no mentorship and learnt the hard way.
(eg never buy anything serviced in QLD, but that’s another story.)
The best…[Read more]

If the builder is doing a lease back, is he prepared to pay all the
outgoings. Also, there is no guarantee that you will have capital gain in 2 years. Check other property prices in the area to make sure you are not paying too much.

You can also try leaving details with the real estate agents in the areas you are interested in and let them know what you are looking for or ring them up periodically. Unfortunately, looking for property
is a time consuming exercise, but the right property is definitely worth while.

Because I am in a high risk litigation profession, my solicitor has advised a company structure and to place each property in a separate trust. Any profits in one trust can be offset against losses in another trust. We also have our home in our names and properties.
I try and maintain them negatively beared and plan to borrow against one of them…[Read more]

Hi
Great site.
QLD property; above all, be careful about how much the outgoings
are, eg rates, body corp.
Especially body corp in QLD can be very high, it can a significant sum
of your bottom line. I also wonder about capital gains, this will to some extent depend on population growth.
Regina