VivianScott is correct. Tax office looks at the purpose for which money borrowed NOT the security for loan. If mum's unit is refinanced to buy an IP then interest on this borrowing is tax deductible. Suggest 20% plus costs for IP secured against mum's unit and new loan at 80% secured against IP for stand-alone purchase (ie. avoid…[Read more]

SammmeeREBA website explains an offer to buy property in WA is made using the Contract for Sale of Land by Offer and Acceptance form, commonly called the ‘O&A. The NSW equivalent document is Contract for Sale of Land and only becomes legally binding on both parties after contracts are exchanged and deposit paid. In Qld contracts become &…[Read more]

Thanks for sharing your experience with rpdata Sammmee. There is often a huge variation between Pricefinder and RPData estimates . eg Pricefinder estimated a Clareville property value in range between 1.1m and 1.3m yet RPData est was in range of $800-970k. Bank valuer assessed at $1.15. I scout out undervalue properties for my clients so need…[Read more]

Eilatan,I agree with Greg that your accountant's advice makes little sense ( not paying down debt because it reduces the tax deduction) Your profit will be calculated by proceeds of asset sale less debts (and CGT). CGT, as Terryw and Greg both point out,  is the net selling costs less the costs to acquire (nothing to do with loan). <moderator:…[Read more]

Based in Newport , however sourcing well researched investments all over Australia. Countercyclical strategy preferred eg recommended Perth in 2004/05. Melbourne and Darwin 2005/06. Canberra and Adelaide in 2007/08. Last year I started working as a Buyers Agent and looked for property wherever clients told me to. Best opps currently Auckland,…[Read more]

Money talks. Include a cheque with your written offer or signed contract

 As A Buyer's Agent I offer Flexible Payment options: a) 1% of property price negotiated (industry standard ranges between 2 and 3%) OR b) 20% of discount negotiated off (verified) list price ORc) Flat fee of $5,000 for properties with list price up to $500,000 (includes $500 upfront amount, with the balance only payable on…[Read more]

Phillippe Tartonne is highly recommended. Lives in The Hills distrcit but can travel anywhere in Sydney. 0407948824 mention Graeme recommended him for good service (he owes me as I found him a nice townhouse) 

The beauty of an offset account is that you can minimise the interest payment without reducing the principal. It doesn't make sense to reduce the principal (and associated deductible interest costs) on an investment property . Better to withdraw funds from the offset account for non-deductible purchases, such as deposit on a home.Graeme FreerFreer…[Read more]

You would probably be aware that Victorians have up until recently enjoyed the unique privilege of stamp duty concessions for buying off-plan. ie. risk takers are rewarded as SD on completed property is the highest of all states & territories. Since July 1 new off-plan projects in NSW < $600k qualify for a SD waiver if completing by 30.6.2012…[Read more]

Hi CatalystGood question. Personally I use comparable sales data. Pricefinder and RP Data are useful here as you can match attributes with properties recently sold in the same location. It is the properties that are priced incorrectly that other subscription software programs can pick up quickly….and I can swoop.Cheers

As a Buyer's Agent I back myself to create a win for my client as well as myself. My clients can choose between a flat fee or paying me 20% of what I save them off verified list price. So if I can negotiate $50k discount, my client saves $40k and my fee is $10k. If I can't save my client the equivalent of my fee there is no charge. We are all…[Read more]

Commercial yields are good however riskier investment due to longer vacancies, which can cause grief with cashflow. Student accommodation may be better option for steady casflow positive income, but check that rental blocks aren't merely aligned with uni terms (again you don't want unit vacant during holiday periods). eg. Unilodge in Ultimo…[Read more]