Forum Replies Created
Hi Syn,
There are some decent articles in the news section of the website that covers some of this information.
Here’s a specific article to help as well. It sounds like you are after a PPOR but the way we look at the world and property is an important foundation for what we do.
Hope this helps.
Andrew
itsandrew
Go as far as you can see and you will see further.
Hi Webby,
You can find all the details at this link
Andrew
itsandrew
Go as far as you can see and you will see further.
Hi landt64.
The good thing is you know why you’re investing and what you want to achieve. To me that’s the first battle. From there you can really break it down to what the numbers say and how it matches with your aims. That will be your best hope of making a good decision.
One point – projecting capital growth is an ‘interesting’ exercise.
Andrew
itsandrew
Go as far as you can see and you will see further.
Hi Mike,
There’s a couple of things to consider. It is usually helpful if your accountant has their own experience with investment property. And It is also important to educate yourself as much as you can so you are literate enough to follow what is going on. Last thing you want to do is put blind trust in anyone on your team.
As for structures, I’ll let someone else follow that one up. It’s so individualised to each person’s situation.
Andrew
itsandrew
Go as far as you can see and you will see further.
Market conditions were different when Steve wrote that book. I know that Steve has released a more recent book ‘0-financial freedom’. I think that would give an up to date reckoning on where he thinks things are at.
itsandrew
Go as far as you can see and you will see further.
I don’t think 25 basis points is going to make a huge difference. Confidence is low across the board when it comes to business and consumers. There may be a bump in activity but it is probably just short term. The small businesses contacts I’m talking with are struggling for every penny atm. GDP growth is trending downwards. Unless there’s a real circuit breaker I’m looking at more of the same. I think 2015 budget will be crucial. Joe Hockey, over to you.
itsandrew
Go as far as you can see and you will see further.
Hi walking to run,
I think you’ll find building and subdividing are two separate processes.
When I looked into that for a development they were separate. I did receive advice not to finalise subdivision until I had laid foundations for the buildings to ensure the boundaries were correct for the subdivision (coz people screw that up a lot … apparently) but there was no ‘legal’ need to do this.
The only thing I found that expired were the TPP’s.
This was in Victoria so it may be different in other states. Also, I am happy to be corrected as this was my understanding of the process and I am not an expert by any means.
Andrew
itsandrew
Go as far as you can see and you will see further.
Is it viable to do an extension and add a bedroom to your current PPOR?
itsandrew
Go as far as you can see and you will see further.
Hi TC,
I did a quick forum search and came up with this: https://www.propertyinvesting.com/forum-search/%5C%22Property+Planet%5C%22/
Andrew
itsandrew
Go as far as you can see and you will see further.
Hi Se7en.
If the block is on two titles would it really need to be subdivided? Or are you talking about subdividing one title for two dwellings and keeping the other? Even then you may not have to subdivide. Your approach would depend on your property strategy and building and council regulations/zoning.
itsandrew
Go as far as you can see and you will see further.
It’s a while ago so I have another Malala image I reckon is pretty cool too …
1) I pressed the ‘img’ tab above the ‘reply to’ text area and a pop up box came on screen
2) I copied and pasted the url of the picture into the pop up and pressed OK
3) I typed ‘Malala’ into description box and pressed OK
4) Some writing script automatically came up in the text box.
5) And now the leap of faith … I press ‘submit’ button below :)
itsandrew
Go as far as you can see and you will see further.
Hey safe,
Some of these guys who’ve commented have been around the block a few times and have had to unravel problems that people commonly get themselves into when buying new or otp. Independence of buyers agents is a big one and the property type you’re describing is high risk for this sort of thing. It could mean 40k to the bottom line in any deal. In my mind this would have a big bearing on whether an investment is priced right for investment purposes and I would be thanking them for their input.
As to the location I’m not familiar with it. But if there is a forecast for significant more supply and the rental market is already softening you’d have to question the fundamentals of what you’re looking at. Are there significant changes in the local infrastructure or economy that would bring people in to compensate for this?
anyway, good luck with it.
Andrew
itsandrew
Go as far as you can see and you will see further.
Look forward to the article Jason.
And welcome to the forum!
I would ask about getting plans through council. Myself, and others I know, follow town planner’s advice, planning schemes etc. to the letter only to be rejected by council then successful in VCAT. It would be nice to avoid VCAT as often as possible!
What you should look for in a builder, and how to source them.
Major pitfalls to be aware of along the way.
Andrew
itsandrew
Go as far as you can see and you will see further.
She’s certainly a courageous young girl and one of the best Nobel laureate’s for peace. There was a strong push for her to win it last year too.
itsandrew
Go as far as you can see and you will see further.
Hey Ben,
From what I have gathered in my own case, when looking at CGT exemption, is that you must have lived in a property before you can have any CGT exempt status. And you can only have CGT exemption for one property during any given period. I hope that makes sense. Best to get advice tailored to your situation from an accountant.
Also, did the property make a CG in that two year period? Depending on the circumstances it may not be a big cost to factor in.
Andrew
itsandrew
Go as far as you can see and you will see further.
We are currently seeing terrible things happen around the globe because of religions, I think it might be time to put away religious thinking.
I think you’ll find it’s the human condition that causes the problems. You don’t have to look far to see regimes that have no religion that are savage and brutal and bring untold suffering to people. Think USSR, Mao, Pol Pot. Their brutality was horrendous and the death toll between them was near enough to 100 million people.
itsandrew
Go as far as you can see and you will see further.
A 10% margin seems very tight. How are you calculating that? Wouldn’t take much for it to go wrong.
itsandrew
Go as far as you can see and you will see further.
Hi Grenfell,
I organised an ITIN for myself a couple of years ago now but I can’t remember how I answered that question. It might be worth checking the tax website to see what they need.
One word of warning though, make sure every single detail/entry is perfect because the form will be automatically rejected if there is an error and you’ll be forced to resubmit from the beginning. It didn’t happen to me but I heard these stories back when I made my application.
Good luck.
Andrew
itsandrew
Go as far as you can see and you will see further.
I always had an interest in property but not a lot of confidence and I found that was the most important thing. Stories of the many people who had done it already both here on the forums and in property magazines was really important for that.
I think Steve was influential in turning my mind out of a strong negative gearing approach. On reflection a lot of my fear was probably based on committing to being tied down to a high maintenance mortgage for a very long time. Knowing there were ways to avoid that made a huge difference – it opened my horizons.
Understanding my goals in life (and subsequently understanding where property investing fitted in) helped develop a personal strategy. These weren’t necessarily ‘property people’, more personal development type mentors.
Some personal friends/family were important too in bridging the gap between property strategy and matching to my goals. A highly experienced real estate agent principal/owner and a successful mortgage broker were two of these.
I didn’t tend to focus on speakers/trainers too much except to learn the possibilities eg. renovation, develop, vendor finance etc
I’m currently doing my second property investment.
Andrew
itsandrew
Go as far as you can see and you will see further.
I used creatine monohydrate when playing Aussie Rules. I took it with glucose powder to help it absorb (I think it just needed any carb). It didn’t agree with my stomach after using it for a couple of months so I only used it at the start of the pre-season and then again at the middle/end of the season when things had settled down for a while. I felt it made a big difference in my recovery after strenuous excercise and it also increased my ability to take on training loads.
Most vitamins and nutrients can be gained by a healthy balanced diet so i don’t go into that side of things too much.
And I’m with some of the guys above, coffee during the days and a beer or wine at night. On odd occasions a nice scotch with a cigar and some good company seems to bring about a bit of rejuvination and improvement to my sanity.
itsandrew
Go as far as you can see and you will see further.
