Hello NucopiaWhy don't you just use your cash for 20% of the price (to avoid LMI)  and costs and take out an IO loan on the new IP for the rest?Make sure you have an offset account with this loan and put the rest of your cash into this.This way you have:- a stand alone loan                               no interest charges                       …[Read more]

Hello petenobodyGreat site thank you. Too late for this reno but I'm sure there will be more.CheersElka

5ijts wrote:
We were told that if you sell your commercial investment property at retirement-it will attract no capital gains tax whereas residential investment property would. Or have I misunderstood? What is the amount you pay for capital gains tax anyway?

I am no expert in this area but think that statement may have been made in relation to…[Read more]

Hello 5ijtsYou might like to read this article by Michael Yardley about the differences between the two property groups.Actually his site is full of good reading.http://www.propertyupdate.com.au/articles/233/1/Residential-or-Commercial—which-is-the-right-investment-for-you/Page1.html CheersElka

Hello OscarI suppose selling the PPOR instead and moving into the IP and doing it up is not an option?That would certainly solve the CGT problem Just a thoughtElka

Hello TangataI don't know how long your current tenant has been in the property but if the garden was in reasonably good condition (cleared/mowed/cutback) when they moved in and the lease states (usually does) that they are responsible for keeping the garden in the same state then your PM should be asking the tenant to fix it. Check the lease…[Read more]

Hello JacDo they have courtyard gardens?Do they all have the same sized block of land on the title? If so, I agree that on a quiet road the front one is the most desirable.CheersElka 

Hello ScottDid you check with your solicitor that asking for an adjustment on land tax when you sell a property is legal? Tammys post on your thread about this topic was pretty clear. ThanksElka

Hello superhoopMy advice would be to put your head down and first get rid of the $3300 Visa etc. debt. High interest, non tax deductible debt is a waste of your money and getting rid of it quickly should help you aquire some good money management habits.CheersElka   

Hello RobinFTB = Family tax benefits http://www.ato.gov.au/individuals/content.asp?doc=/content/21556.htm&mnu=1205&mfp=001/002This is a link to the ATO site for explination and calculations. If you have never claimed this before I think you can claim up to 2 years back … just did a quick read so I might be wrong.Hope this helpsElka

My two units are both ground floor with little gardens, one behind the other. People seem to call apartments units too now a days. The water meter was in the front of the property and turned out to be quite easy to split. No concrete had to be dug up. I was lucky. I think it's worth contacting Yarra Vally and also getting another plumber out for a…[Read more]

Hello PaulMy sister was older than your wife when she had to start job hunting. She started in telemarketing but has since found two part time jobs that she likes better. It's just a matter of not giving up. I would also advise keeping both properties for the reasons already mentioned. Given your ages I assume you have no children living at home w…[Read more]

Hello NatalieoIt's good that you are  going to get professional advice before you start though I think you might consider going to a property savvy accountant as well as most FP are more knowledgeable about managed funds than property.I am certainly no expert in this area but since no one else has answered ( you might be in the wrong section ) I w…[Read more]

Hello LinarJust thought I would warn you not to start counting your profit yet. If the vendor has not yet noticed the mistake they probably will at settlement. Be ready for problems specially if you have by then sold either of the blocks in question and have a buyer waiting to settle as well. Would be interested to hear the end of this story. W…[Read more]

HelloWhile I have no knowledge in this area I have read several posts on this forum which say that you don't loose the FHOG if you buy an IP first. It's simple to confirm. Just ring the SRO (state revenue office) in your state and ask or look at their web site. While much of umes' post above is correct, a normal discretionary trusts cannot…[Read more]

Hello VirgininvestorUnfortunately I don't believe that you are allowed to ask the tenant to pay the usage charge without a separate meter. I think you have 2 options.Cater for it in the rent and advertise it as "water charges included" or something. But as you say, if you ask too much extra you will have a hard time renting the place out quickly.…[Read more]

Hello PaylorCongratulations on your upcoming marriage. Australia is a BIG country. It might help if you narrowed the search area down a bit.Which state and which city might be a good start.  Wish you the bestElka

Hello Virgininvestor My understanding is that unless the place has it's own meter you, as the owner, will have to pay the water usage charge as well as the service chargers which you will be paying anyway. If it is on it's own meter then the water company can send the water usage charge directly to the tenant. At least that is the situation in…[Read more]

Hello Emu1208None of that will be tax deductible if it is done before you start earning any income from the property i.e. before you first get a tenant. It will be seen as the cost of getting your IP and added to the cost base for CGT calculations if/when you sell.Some things, even if they are done after you start earning income on the IP, are not…[Read more]

Hello Asking about the 11 second solution is just another way of asking about CF+ properties.Just in case you haven't stumbled onto this thread which someone kindly started to help new forum members.https://www.propertyinvesting.com/forums/property-investing/help-needed/22508CheersElka