Amit Thaker wrote:

fishmeet wrote:
I haven't done any courses but my solicitor will draw up the options contract. I just want a few ideas on the best approach to first contact with the owner that will get a face to face meeting.

Hi fishmeet, I googled and few links came up:…[Read more]

Amit Thaker wrote:
Hi Fishmeet, I am thinking of doing what you are doing. Do you pay for DA out of your pocket or have you got a partner? Have you done any course to brush up your skills in property options? Looking forward to hear from you. Cheers A

I haven't  done any courses but my solicitor will draw up the options contract. I just want a…[Read more]

Jamie M wrote:
Hi thereHave you already sussed out local property managers? They're often in the know when it comes to tradies in their area. Perhaps find a good property manager and ask them if they could coordinate on your behalf. It would be a lot of work for them – and outside of their normal scope, so some sort of payment will probably be…[Read more]

adzlea wrote:
Hi Fishmeet,I live in Moranbah and things are starting to slow. There has been an influx of investors over the past 6 months and the prices as you are well aware have skyrocketed. There are alot of long term residents (20yrs +) taking the money and leaving town. This is putting more houses on the rental market and unless you have…[Read more]

Thanks Moxi10

Mattnz,Thanks for the comprehensive response.

Terryw wrote:
very generally.80% of rental income, and 30% of salarymust be greater than repayments of all loans.

Thanks for your responseTerryw

Thanks for the info. You are right in that I would have to have a clear understanding of costs and make sure the target area would support prices for renovated properties.My feeling is that if I renovated and was unable to sell then my fallback position would be to rent. Since I have no mortgage it would be all income.Are there any flaws in my approach?

Thanks JacM.In answer to your qusetions –I want to buy, renovate , sell to generate an income. I will also hold some properties such as I one I just bought.-I had ruled out JVs for the time being untl I had more experience in renovations and project management. -I am located in the Melbourne suburb of Rosanna.in

This is great information. Thanks for the insight.If a person sets up a company simply to lower their tax rate from highest marginal rate to company tax rate are they better off from a tax payment perspective? I want to buy, reno and sell in 9 month time slots. Therefore I must pay capital gains tax  as an individual or income tax as a company.…[Read more]

Mister,I sympathise with your situation. I have been through it twice. The first time I didnt use a leasing agent. I collected the rent myself and did a lot of work and believed the hard luck stories. Arrived one day to find the house trashed and windows broken. I was never able to reclaim costs.The second time, different house, I used a leasing…[Read more]