Forum Replies Created
Hey the $5000 for your house for the 10 days sound great.
Thinking spare bedrooms, maybe $100-$150 a day, for 10 days $1000 – $1500!!!!!!!!!
Hmmm.
hrm
JJ &Jo,
Congrats on a great profit.
The are tax issues that should be considered too.
Who claimed the tax deductions?
What is the CG?
Recommend you both see an accountant.
hrm
John,
Good story good lesson.
You never know when you need insurances.. Good management that you had it in place.
I wonder if the person who did the building report could be held responsible? Did they recommend that the HWS be removed ASAP?
I’d appreciate you advising us of the outcome from your insurance company.
Hope you get a tennant soon.
hrm
Hi Jae,
I think using the FHOGs to buy a property is an easy way to start.
I note thet you are single so perhaps you could get others to share the costs of the property.
You would have to live in the property for at least 6 months.(corrected thanks Simon)
AND. who knows when the grants will stop!!!!!!!
hrm
I guess another issue is security.
The wife and kids are secure in the vehicle.
Could be worth $10 a week!
hrm
Jason,
When and where please.
hrm
Games Accommodation?
Anyone know what is planned for the purpose built accommodation after the games.could this be an opportunity!
Tools: Perhaps a good time to take a holiday for $5K
hrm
Agree with MH, I would be surprised if you had to pay back the grant. Be honest and give them a call today.
hrm
Hi,
I think you need to ask your local council about these issues.
hrm
Paula,
Answers:
Offering $20K less, you don.t ask you don’t get. Make the offer and see what happens.
Depreciation. 2 types: building @2.5% per year, and fixtures like floor coverings, cupboards, appliances, light fittings, swim pool, security etc. variable rates.
Perhaps you could PM Scott at “Depreciator”, he’s a member on this forum and I have used and recommend his company for setting up depreciation schedule.
Claiming purchase costs at tax time: I am not a 100 % sure but I think its over 5 years, but another Q that Scott can answer. Good luck.
hrm
Hi Gatbe7,
Can’t recommend any REs but can recommend Astorb for help with Qld props.www.astorb.com.au
hrm
Agree with LifeX,
I would request the agent send me a copy of the report before I dismiss it. Lots of props have termite damage.
hrm
Paula,
Don’t forget depreciation. This could be significant for a fairly new building.
Also, Interest only loans help.
“everything I find is $20,000 too much”
Try offering $20K less!
As you have mentioned add value to increase rent.
hrm
Hi Puala,
What you are suggesting here is Vendor Finance I think.
The bank lends you $80K under a first mortage, and you seek the vendor to provide finance for the remainding $20K over what ever term you agree on.
Vendor finance would cost more perhaps about 2 percent above bank rates.
By financing the property this way would save on Mortage Insurance.
If you have equity in other property you may be able to get a loan for the total amount, or about 106% to cover all costs.
Hope this helps.
hrm
OF,
I agree, great site heaps of info, and some very willing successful investors with diffent strategies, and alot more info than the S site.
Thanks to all concerned.
hrm
Ubique,
Perhaps this deal could suite a builder. He / she may be interested in the block at the back or the lot.
You could:
Email or fax a heap of builders,or
Advertise in the Saturday paper under investments/ development, or
Seek agents who have builders on their books and are looking for such properties.List with afew agents (conjunct, non-exclusive agreements).
PS. You could contact Dr. X on this forum as they buy and sell props in SA.
hrmHi Ben,
Only suggestion I can offer is to contact the bank. There could be some extra charges with paying out your loan early.
Also,. Mortgage bal.=135,000, so if I payed 3000 per mth the balance would be zero in 45 mths.
You would have to pay interest costs too.hrm
Hi Bloggs,
I bought a townhouse in Rimfire Walk Maribyrnong about 2 years ago for $333K. I tried to sell recently but could not get any offers above $300K.
This area appears to be saturated with a heaps of townhouses from a few developments that were completed in the last year or so.
Your development sound a bit different and may have water views. i would suggest doing a good check on sales and rentals for the area.
As for saving stamp duty by purchasing off the plan…….I think you should be able to get it, but seek advise from your solicitor.
Hope this is of some help, regards.
hrm
GDay Mkc,
110 foot shed wow!
Storage sounds the way to go if there is demand. Perhaps Melbourneites could store their water toys, caravans etc.
Surely others on this forum could make some suggestions!
Perhaps this post will put the topic near the top to recieve some attention.
hrm
Hey Spider,
What about a simple Stat Dec signed by your tennants stating how long they have been renting and the amount they pay?
hrm
