why wouldn’t you?

Hmm, interesting issue mate,

So firstly this is a potentially complex legal issue that you would need specific professional advice.

It would be an expensive exercise to follow through with depending on what outcome you’re after?

there are lots of cases & lawsuits against x y & c to recoup damages you incur.

there are lots of cases you can review to get a basic understanding but go seek some legal advice

Good Day David,

Mate, I am based on the gold coast but love talking to anyone about the financial value of properties & happy to try to answer any & all questions.

the value on this website is unreal & has so many great “value adds”

I hope you find some great people to deal with locally as well :)

Enjoy your week!

Crasy! ahah.

Great post, I think this shows the importance of a few really key financial basics.

Compounding

Reducing expenditures  (to better invest that created excess)

Minimizing Taxation / structuring

Love forecasting for myself :)

Good Day Ari,

Firstly the fact you are aware & cautious is an absolute virtue & not making a bad step early & knowing what & how to navigate can change your financial future & be wary of anyone selling you a product

I can’t stress enough how many great pieces of information are on this forum & if you do not understand something then why would you do it?

I think you are in a unique position & realistically have a variety of potential options to reach your end goals. (whatever they may be)

I am actually one of the few financial planners that actually spend time reviewing properties for clients, similar to a buyers agent in a sense although I have no financial interest in if a client buys the property or not.

in relation to the Campbelltown property, I would say there is nothing of those numbers that really amaze me on face value & if you enjoy your reading I believe the -“nathan Birch” model of

-Buy Under market value

-Positive/Neutral cashflow

-Ability to add growth (reno, sub div, reval)

is arguably one of the best overview strategies to add money into your portfolio.

what is the goal for that purchase? how is it part of your plan to financial freedom? or your end goal?

Enjoy your week!

Good Day Scott,

Terry &Richard both are experienced and exceptional at what they do.

Your plan/strategy has merit although compared to other options & plans it may, however, be a slower process to reach your “end goal”.

the fact you are at this stage & understand a fairly good idea of where you would like to end up is massive,

now comes assessing the different options & truly understanding the pro’s con’s & unforeseen that may result in each different option and path.

So for me, it all comes down to the numbers behind the properties, meaning the Return on investment, the ability to add value to the property & the perceived growth likelihood.

I think the more you read & understand all the different views & potential outcomes it will really open & define what suits yourself.

wish you all the best & if you had a specific question always happy to chat.

Personally I bought properties I have never seen.

-study the area online

-call local real estate/property managers to learn about area

-ask questions

-get reports from everything relevant

-if everything adds up and you have insured the downside you have the capacity to add more value, open yourself to more areas of growth with greater ROI

All the best!

Ok, providing it complies with the body corp bylaws and your not altering any external space you can do this, the issue is it technically is not zoned, approved as a 2bedroom so for resale you should and can list as a 1bed or 1+
but I have heard of cases of people being compensated for buying a 3b that was legally a 2 bed and study.

in regards to rental return, that is fine, yes you would likely get a better rental return.

The use of funds is for an IP? an income producing asset?

So if he used those funds for another IP, then the interest is deductible?

There is no private purposes. just using equity in IP 1 to buy IP 2.

no mixing at all?

would this then work?

Mate would love to hear the outcome,

I would simply weigh exactly what Ethan stated about the sale price for the land and approved plans, you could also get an agency to sell the plans before you spend anything on the build (much like a new development sale and some pre designed pictures, then sale can include extras they want)
this means no overheads to start, contract pre done, is this something you’ve looked at?

Curious as to how this all played out?

Thanks