Simple answer,

Use it to negotiate but confirm you have a water tight Insurance cover for the building that clearly protects you against that outcome.

Confirm with a quality accountant but any expenses incurred in that financial year, yes you can claim that year even if it covers X period in the future.

Kind regards

Jaxon Avery

Ok Purpleboar,

So there are a few different options

1. She sells (Yes incurs CG for sale) unless she lived in it in the last 6 years?
If you move out of your home and rent it out, under the law, the property is still treated as your principal residence for a period of up to six years.

2. your situation for serviceability can be worked on and should be easily to clean up over a year or so

3. does your mother needs the funds or want them? or is the Property designed to go to you in your control as the equity isn’t needed by her?

Now moving forward you can do a few different things depending on the above answers and your long term goals (guessing its to get financially ahead)

Mate, I am more than happy to have a chat if you would like and play out the options?

Kind regards

Jaxon Avery

My pleasure Sid,

I actually sent you a private message with my details if you have any specific questions, if you write them down I am more than happy to provide some answers and even carve a clear path for you.

Kind regards

Jaxon Avery

Then you have answered your own question? just make sure you do some reading prior to settlement (due diligence)

-Check BC
-Rates
-Pest test
-Building Inspection
-Area sales prices
-Ways to add value
-etc etc etc (aka read a lot)
-have someone to assist

Kind regards

Jaxon Avery

Muzzo Benny is the man! knows his stuff so I would read and Reread anything he sends you.

I think the answer will be self evident once you understand your long term goals and workout the pros and con of both options and even some other ones, I would get quotes for both options, look at the growth potential, rental returns and other benefits and also cons.

one you clearly have a well established idea of both paths then you should see the benefit of each and know which fits you.

Happy to have a chat if you would like.

Kind regards

Jaxon Avery

Good Idea Financially?

the simple way to work it out is
value of property now
cost to do reno
value of the property after.

then that is a really clear and easy way to break it down, even get quotes for the job.

for e.g. a client of mine had a converted garage bedroom we did a $15,000 reno on it and added a private ensuite (shower/Toliet) the rental return went from $180 to now $300 per week so really good return in that specific case.

Kind regards

Jaxon Avery

CRj please show one case scenario that is current with a 10%+ return. with No BC.

Kind regards

Jaxon Avery

I can answer all of this (bar the legal advice, but I can give general information to help inform you on different trusts)

more importantly what is the end goal???
because if its a $200k income PA from investments I would question if your on the most appropriate path there.

happy to chat.

30 acres = 120,000m2

2800 x $5000 = 14mil

$116 per square meter

=$81,000 for an 700m2 block.

this investment has no return bar the perceived return upon sale. but does seem cheap depending on the location of the land and a variety of things.

my simple answer is the Warren buffett, which boils down to investing in things that go up in value, but more importantly invest in things with on going returns.

your essentially buying dirt, now yes it can and will go up, but it returns nothing for the next ??years??