Thanks Benny!

We have a Depreciation Schedule for the IP, so I'll be sure to add the WDV to my list  immediately!

Kind Regards
Kate

Aaah Jamie – looks like you caught me red handed! I was going to PM you about this then thought you'd probably enjoy a few weeks reprieve from myself and Mark!!Does anything get past your eagle eye in these forums!?Thanks for all your help by the way – it would be no IP without you! CheersKate

Hi Terry,I figured it would be the same, but thought a post would clarify.You can see my Investor L Plates a mile away!!!CheersKate

Hi EmptyVessel,My partner and I are about to dive head first into a purchase of our first IP(s) which coincidentally is 2 villas on one (torrens) title. The property is in Mudgee NSW and our stratgey is based on a buy and hold period of 10 years, after which we would consider perhaps selling one and keeping the other. Firstly, thanks for the i…[Read more]

My only regret is that I didn't find this website aaaaaaaaaages ago!It is such a relief to find an environment in which all oddball questions are answered with integrity and shared knowledge – regardless of  how many times those 'same old questions' have been asked!!

Now I GET IT!! Thanks JacM for explaining this in laymans terms with examples – I'm seeing the investment light!May I ask another naive question? If one were to have a negatively geared IP, can one apply for the 221D tax variation form and place that extra weekly income in the offset account? If so, are there any implications from a  tax perspe…[Read more]

Thank you v8ghia for your lengthy and extremely valuable reply – all this is new to me so you have answered many (and probably silly!) questions I had with regards to IPs!Kind RegardsKate

Hi v8ghia,The valuation was not what I was expecting for the main reason being the major renovations ($$$) that we have undertaken in the last 2yrs – new hardwood flooring, gyprock ceiling, fully integrated kitchen, miscellaneous sundries like paint, snazzy light switches, lights etc etc., new bathroom which was completely gutted and built from…[Read more]

Thanks for such swift replies!My boyfriend is selling the property to me for $290k, although I don't think at a 10k reduction (from 300k) that this wold greatly affect my banks LMI regulations?! And if I call the bank again today, I'm pretty sure they'll black ban me as a serial pest!!Angel – The thought of borrowing the shortfall had crossed my…[Read more]

<font color=”#000000″>Feel compelled to add my two cents to this post given my FHC with Chan and Naylor two weeks ago at their Surry Hills office.

I bought a copy of 'How to Legally Reduce your Tax' by C&N and was quite intrigued about trust structures and the benefits that result if one changes their mindset from a 'pawn' to a 'player' in the ga…[Read more]

Feel compelled to add my two cents to this post given my FHC with Chan and Naylor two weeks ago at their Surry Hills office.I bought a copy of 'How to Legally Reduce your Tax' by C&N and was quite intrigued about trust structures and the benefits that result if one changes their mindset from a 'pawn' to a 'player' in the game of tax.My 2.5hr se…[Read more]

Hi Amy,Actually, I checked through your threads after my post and noticed you are in a similar situation to mine – with no accountant too! Would love to hear how your accountant in Sydney fares as I need all the (right) help I can get!I am heavily leaning towards the IP in my name – considering it is my first venture into investing and given my…[Read more]

Thank you all for such sound and well researched advice! I'm so glad I found this website!

I agree with amyhunz, I think to fly soley on the coat tails of the mining industry cuts out many other well paid professions that also reside in this area, so I'm in a quandry as to whether I buy and furnish or buy and lease (btw am looking at buying boy…[Read more]

Thank you all for such sound and well researched advice! I'm so glad I found this website!

I agree with amyhunz, I think to fly soley on the coat tails of the mining industry cuts out many other well paid professions that also reside in this area, so I'm in a quandry as to whether I buy and furnish or buy and lease (btw am looking at buying boy…[Read more]

Thank you all for such sound and well researched advice! I'm so glad I found this website!I agree with amyhunz, I think to fly soley on the coat tails of the mining industry cuts out many other well paid professions that also reside in this area, so I'm in a quandry as to whether I buy and furnish or buy and lease (btw am looking at buying boy…[Read more]

Thanks for the additional post thecrest.I called an engineering company in Orange last week re houses for miners and was told they needed 16 homes immediately! Fully furnished, serviced weekly etc etc BUT she only wanted properties in Orange due to their clause agreement. Would you suggest not even bothering with a Real Estate property manager?…[Read more]

Hi Patrick,I was hoping for a positive cash flow with corporate tenants (if I can get some more mining contacts!), will keep you posted on my progress!Kate

Hi folks,

Just saw this post and thought I'd add my two cents..being a life long Bathurst resident and all!

Patrick was correct about uni, weather, importance of insulation, heating and cooling. I can't emphasise enough that Kelso is one suburb you should avoid – personally, I would never buy a property on the Sydney side of the Macquarie R…[Read more]

Hi folks,Just saw this post and thought I'd add my two cents..being a life long Bathurst resident and all!Patrick was correct about uni, weather, importance of insulation, heating and cooling. I can't emphasise enough that Kelso is one suburb you should avoid – personally, I would never buy a property on the Sydney side of the Macquarie River. K…[Read more]

Hi Madchen,Not sure about Vacancy Rate websites (although Domain and Real Estate sites have other handy statistics), but 'Your Investment Property' magazine has a section in the back filled with stats like vacancy rates, stock on market and property price guides for houses and units in all states and territories. I bought my first copy on Sunday…[Read more]