If it is going to be your PPOR, you won’t have to pay tax on it when you sell it, whether that’s within 12 months or not.
If you move into it, it is automatically your PPOR and no timeframe is required. If your mail is getting delivered there, utilities in your name, it’s registered on the electoral roll etc. it is automatically assumed as your…[Read more]

This means that if you want your super fund to own a property, only your super fund can buy it. You cant transfer ownership of a property to your super fund.

Hope this helps…G7

Hi Damien,
That’s a pretty easy question, if you have a P&I you might make $400 per month, if you have I/O you might make $500 per month.
You might want to start on I/O to maximise cashflow, say 5 years, and then switch over to solidy your long term position.

Hope this helps…G7

Hi Steve,
Depending on how long you need the money for, you could always use a private lender, the ones that advertise usually in the Saturday newspapers. A lot don’t require security, just an ability to repay.
Also friends or family might help or even just wack it on a credit card.

It depends on who it’s for, if it’s for you it may be the only way to purchase a property, if you’re going to provide it, it can be a nice little earner.

The purchaser cannot because they cant claim depreciation on a PPOR and the vendor cannot because this type of transaction eliminates the right to claim depreciation.

I’m not sure if this is right, but couldn’t you put the property into its own trust, then later on simply sell the trust?
You dont have to pay CGT on selling a trust, therefore you pocket all the profit, is this right?

I dont think there’s any reason you cant do major work through the settlement. It’s just a matter of agreeing and using the correct clauses in your contract with the vendor. If they allow access, go ahead, but if they’re still going to be there during settlement it may be hard.
People have made a lot of money using this technique, so you’ve got…[Read more]

I agree with Ticky, the body corporate and council rates on those types of properties can be upto 60% of yearly rent, destroying your cash flow.

Yeah, it adjusted my thinking too, just finished it today. I think in the context you’re talking about they are both the same just different names. Buyers agent, spotter, bird dog charge fees for finding investors properties.
The fees involved would be revenue for a spotter/ bird dog/ agent and an expense for an investor. There is currently a…[Read more]

I’m pretty sure the factors the council takes into account is simply the zoning and if what you intend to build fits into the zoning on that land.
Typically a council will say what you can build relevant to the zoning, ie-another 2 houses on the land or a bohemoth residential skyscraper.
The best thing I think would be simply to talk to them and…[Read more]

I think you simply need to ask the council what the zoning is on this land, can it be re-zoned, subdivided (if yes, how much can it be subdivided) and what you can specifically do in relation to its zoning.
I would definately find out ASAP, you might be on a winner. It only takes 20 minutes to find this out. Also double check with the council on…[Read more]

Hey J,
I would sell at between 320-350k, because of the price I probably wouldn’t take less than a 5% deposit and charge a 2-3% premium on the loan.
Depending on who you’re wrapping to, there could be a few variables, but what I said seems pretty stock-standard? Hope this helps…G7

Nothing sinister Celivia, just advertising my distatste for the gentleman in a subtle type of way[biggrin]

This gets brought up every now and again, they sound good but can be fraught with danger!
1. It’s hard to finance anything under 50sqm (5 squares), I think the max LVR is 60%, have a chat to one of the brokers thou.
2. 5-7% for these are shit. There are plenty around going at 10%.
3. I’m pretty sure they’re residential, but with a commercial LVR…[Read more]

Money secrets of the rich- John Burley
Rich dad, poor dad (the philosophy of +cf) Robert Kiyosaki
Success stories- Kiyosaki

You’re usually getting cooked when there’s pressure to buy, sign something etc.
Just compare houses that are similar to the one you want to buy- ie-prices namely. If you want a 3bed 2bath 700sqm block and they’re saying it’s $250k but there are heaps similar close by for $200k well…

Dont worry too much, just be cautious.

Get a book called flipping properties by William Bronchick at businessmall.com.au. It’s an American book, but still very relevant.

Sell everything, buy houses around the 100k mark, use 10-20% deposits to buy them, then wrap the whole lot.

Sounds like you got caught in a Qld property scam loop. Vendor, agent and lawyer all eating from the same trough. You are very lucky to be out the other side.
If you’re that pissed off, why not make a complaint about the lawyer to the QLD legal thinggy?