Both claim?

We have only been married 10 weeks. Lived the first 7 at my place and the last 3 at his. Neither have been tennanted. In fact, we still even have phone connections at both. This sounds too good to be true. Especially if we nick off to SA as we do not want to have to pressure sell either place before we go.
Fibejebe.

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Yes, and if you don’t buy a house to live in, you can both claim your houses as PPORs for up to 6 years complete with tenants. If you sell in the 6 years, no CGT. If you move back in after 5 years 11 months and live, you can then move out for another 6 years and no CGT (still not purchasing a house to live in and calling it PPOR).

Cheers
Mel

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http://www.australiarealty.com.au

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Thanks for that Sunshine. We will check them out too. Guess there is no reason why we cant list it on both sites. More likely to attract interstate buyers on australiarealty by the looks of it.

I am selling my PPOR as I recently got married and we have moved in to my hubby’s house. My place is a townhouse on the canals at Mandurah – Western Australia. It is in a block of 14 and one sold privately a few months ago for $500K. Because it isn’t your average 4×2 I am not sure how it will go selling over the net. Guess it is more important to word the advert right and get good photos up there. It’s rental potential is only $280 per week so I am not suggesting anyone here buy it. I bought it 3 years ago for $290K so nice little capital growth for me. A main reason why we are selling now is that there will be no CGT as it has always been my PPOR.

Fibejebe

Yep. The Sydney Telegraph predicted that house prices were going to fall 20 percent. They may be right. Just not sure when tho as that prediction was published 7th June 2000. Can’t believe everything you read. It keeps the pessimists happily sad tho. [8D]

Hi MikeeJ,
OK I have searched their little workbook and can not find where it says copyright and need permission to reproduce etc so guess it is OK for me to post this here. This is just an example of what they did themselves. That does not mean that it will work for you exactly as per the scenario every time.

Can’t find $7900 into $225,000 but found the figures for $7900 into $125,000. Is that OK?

Basically what you do is find a 4 unit raw development site with a purchase price of $270,000. The Hanna theory is that you don’t bother negotiating price, but rather negotiate terms. So you offer $290,000 (yes $20K ABOVE asking price) negotiate 1% and 6 month option to purchase on the site.

Cost so far – $2,900.
Architects fee to draw plans for 4 townhouses = $4,500.
Council fee for DA approval = $500.
Total cost so far = $7,900.
Sell with DA approval to builder for $105,000 per site = $420,000.
Pay vendor 287,100.
Your instant income = $125,000.
Return on investment = 1,582% in 3 months.

The $230,000 freehold investment property is nothing new. When you do a big development rather than sell off all the units and pay yourself a taxable instant income, you keep one or two units for yourself and enjoy the ongoing passive income.They did this on a 6 unit project. Rather than take $260,000 profit in their hand, less what the taxman grabs, they took one townhouse and $35,000.

My husband and I already own a raw 4 unit development site so this was of particular interest to us. We really want to get into the development side of things but guess we lacked the knowledge at this point. It is funny really that everything we had talked about doing, the Hanna’s just reinforced. Guess we are on track but sure was good to have someone who has walked the road tell us that.

Hey, if you can get along to their seminar or workshop, I would definitely recommend it.
Fibejebe.

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Would you mind telling us what you learned. How do you turn
$7900 into $225000 in 3 months, how do you own a $230000 investment property in one year?

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