Normally people would access enough money from equity release to fund a 20% deposit, stamp duty and buying costs on a new investment property purchase. The balance (80% of purchase price) would come from a new and separate loan.

Out of interest…. which conveyancer/solicitor are you using?

Tread with caution… I’ve heard a few brokers mention that a lot of the bank valuations for purchases in Tarneit are not stacking up against purchase price.

Tread with caution… I’ve heard a few brokers mention that a lot of the bank valuations for purchases in this area are not stacking up against purchase price.

Hi @propertyseeker

Hmmm.

There are two questions here really. The first is deductibility. I would imagine from a taxation perspective your “hired help” would be tax deductible. Check with your accountant. Note that if any of these properties are held in a SMSF you’ll probably run into strife employing yourself or a related party.

However…[Read more]

Hi @propertyseeker

Hmmm.

There are two questions here really. The first is deductibility. I would imagine from a taxation perspective your “hired help” would be tax deductible. Check with your accountant. Note that if any of these properties are held in a SMSF you’ll probably run into strife employing yourself or a related party.

However…[Read more]

Hi @propertyseeker

Hmmm.

There are two questions here really. The first is deductibility. I would imagine from a taxation perspective your “hired help” would be tax deductible. Check with your accountant. However the more important issue is you not being represented by a (real estate) licensed PM that is up to speed with tenancy laws etc.

I…[Read more]

Shirley… time you got yourself a new accountant I think !

I’m going to say it. I think this property is a bad idea for a SMSF. A big part of the value of acquiring property is the power of leverage (borrowing). If you cannot borrow and have to pay extra for specialist legal advice about the complexity of a property that is still only going to give you normal residential returns, then what is the…[Read more]

Hi @retireyoungfree

Welcome to the forums !

The question of whether it is worth hiring a BA is rather a big question.

Depending on the service offerings that are included in a particular BA’s service, they may be of value to you in a number of ways including:
– Putting an end to analysis paralysis by doing analysis for you and getting on with…[Read more]

The definition of “rich” depends on your value system.

To one person “rich” might mean having enough money to cover the bills, eat well, socialize etc without worrying whether you can pay the bills.

To another person “rich” might mean not being happy unless there is an overseas holiday each year.

To another person “rich” might mean being…[Read more]

Hi @brockman

Firstly check the PM is doing a decent job. Are they advertising opens at sensible times when most people can attend? Are the photos showing what the property has to offer? Have a friend contact the PM as a prospective tenant and see how the contact is handled. For example, did the receptionist take a message that nobody…[Read more]

Hi @lenkat

As the others have pointed out, the answer is usually no. However if you really want it staged just for pics, one option is using one of those virtual staging mobs. They superimpose furniture etc into the pics. Some companies appear to do the photography with the staging as an extra, and some do just the staging. Here is one ;…[Read more]

Pleasure. The nitti gritti proper “numbers” involve having more experience with development, but it’s easy to rule out a lot of deals just on high level numbers as they don’t come anywhere near stacking up.

I would say spread your risk rather than put all your eggs in one basket. Your other option doesn’t have to be Newcastle though…

Hi there @nicemum

Firstly take a look at high-level costings such as :

Purchase price of land
Stamp duty
Legal costs of acquisition
Cost of getting permits finalised
Costs of demolition permit and demolition itself
Cost of mortgage interest during this time
Cost of the build
Cost of mortgage interest for the build
Cost of subdivision
Selling…[Read more]

This issue comes up often.

Laws in each state are different, but generally an agent is not required to pass on offers that fall outside a certain set of parameters if the vendor has instructed them not to bother them with such offers.

For instance, in Victoria, regulations 16 and 24 of the Estate Agents Professional Conduct Regulations 2008…[Read more]

Hi Kristy

Richard Taylor operates in the Brisbane area and specializes in that budget range.

https://www.propertyinvesting.com/members/qlds007/

Hi @suavemechanic

Hmm, sounds like your bathroom has the toilet in the same room, and that the floorboards need replacing. Dilemma.

For just a week the tenants might find it a hassle to move out and prefer alternate options.

If you were dealing with a concrete slab I would say replace with a nice lino. However it sounds like that is not the…[Read more]

+1 for Sam at Qura