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Viewing 14 posts - 1 through 14 (of 14 total)
  • Profile photo of KingKing
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    @jaydenwalter
    Join Date: 2016
    Post Count: 17
    November 9, 2017 - 1:06 pm

    Thanks Terry & Ethan.

    If I was more interested in moving ahead with the property, I would have. But as I said it is very common for the seller to provide one at an auction, so I was a bit dubious. I just thought I would check my rights (of which I apparently have none :P)

    King

    Profile photo of KingKing
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    @jaydenwalter
    Join Date: 2016
    Post Count: 17
    October 24, 2017 - 8:52 am

    Have you tried working through this website http://southeastwater.com.au/Building/Pages/WorkNearAssetsEasements.aspx? They talk about what you can and can’t do in regards to building over pipes and easements. With property, I would always want to err on the side of caution so maybe lodge an application (if applicable) and see what their response is (or give them a call).

    • This reply was modified 7 years, 1 month ago by Profile photo of King King.
    Profile photo of KingKing
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    @jaydenwalter
    Join Date: 2016
    Post Count: 17
    October 11, 2017 - 11:36 am

    Investwell, I would be interested in knowing how you came about purchasing four investment properties in Kingaroy?

    Profile photo of KingKing
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    @jaydenwalter
    Join Date: 2016
    Post Count: 17
    October 6, 2017 - 9:18 am

    Sounds great for Kingaroy! But it wouldn’t make me invest in property there. Creating 100 jobs is great but that is only 0.8% of the population in Kingaroy and not all of those construction workers will be sourced locally (due to specialised skill associated with solar technology). The solar farm does not bring long-term increases in wage or a long-term increase in socio-economic class.

    King

    Profile photo of KingKing
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    @jaydenwalter
    Join Date: 2016
    Post Count: 17
    September 28, 2017 - 11:59 am

    Hi Terry

    Just wanted to confirm. The example in your link, would they be exempt from CGT when he sold the property, or would 4/6 of the capital gains be subject to CGT?

    Thanks

    Profile photo of KingKing
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    @jaydenwalter
    Join Date: 2016
    Post Count: 17
    September 22, 2017 - 11:47 am

    If you want to stay in front of the curve and have access to all of the new features, then I would go the X. If you don’t care too much for technology and you just want a smartphone for the basics (making calls, texts, facebook, etc.) then go for the 8 (or even the 7).

    If you are a keen or avid gamer, like to watch movies, care about incredible screen displays, interested about the facial recognition capabilities, etc. then I would go the X.

    Me, personally? I would get the X. But considering work gives me a phone for personal use – I don’t intend on paying for something I could otherwise have for free.

    Profile photo of KingKing
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    @jaydenwalter
    Join Date: 2016
    Post Count: 17
    September 7, 2017 - 10:28 am

    I asked an in-house broker at ANZ about this and they didn’t really have an answer. They basically told me that that ANZ would never follow up with me to check what my intentions are with the property after settlement.

    Profile photo of KingKing
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    @jaydenwalter
    Join Date: 2016
    Post Count: 17
    September 6, 2017 - 2:10 pm
    Terryw wrote:

    Why not do both?
    Using some tax strategies a main residence can be rented out and negative geared without loss of the main residence cgt exemption if certain requirements are met.
    You get the best of both worlds of saving tax and avoiding tax as well.

    Terry, do you mind sharing a brief explanation of these tax strategies? I would be interested in understanding how these strategies work with the current government restrictions on IP’s vs. PPoR’s.

    Thanks

    Profile photo of KingKing
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    @jaydenwalter
    Join Date: 2016
    Post Count: 17
    August 30, 2017 - 3:24 pm

    Thanks Corey – great read!

    I will take a step back with my loan considerations and look at the bigger picture. I still plan to take my business through an investment savvy broker, but it’s definitely good to have this understanding.

    Profile photo of KingKing
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    @jaydenwalter
    Join Date: 2016
    Post Count: 17
    August 30, 2017 - 2:46 pm

    Thanks Corey, very interesting.

    It will be a PPoR at the time of purchase, but it is ultimately an investment and I will be looking to add value and/or refinance in the future to fund my second property (which will ultimately be another investment).

    I understand the concepts of offsets/redraws, P&I, split loans, etc. – what other features or types of loans should I need to be considering in my research?

    Thanks again

    Profile photo of KingKing
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    @jaydenwalter
    Join Date: 2016
    Post Count: 17
    November 23, 2016 - 1:45 pm

    Hi Yllenk

    Yllenk wrote:

    It seems that majority of people are of the opinion that an old tired property in need of a renovation is the best investment – however a minority are looking to buy renovated properties. So why buy a property, renovate it and then sell it, if no investors are looking for renovated properties? Based off this poll, it would appear that you would be smarter to hold onto the old tired property and do nothing to improve it and hence making it appealing for investors.

    That’s true, but why would you need to sell to other property investors? I don’t know the statistics but I would expect the number of people buying a property that have no intention of further investment would far outweigh the property investors of the world.

    Profile photo of KingKing
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    @jaydenwalter
    Join Date: 2016
    Post Count: 17
    September 7, 2016 - 8:03 pm

    Corey, you recommend purchasing a PPoR first and paying down the principle and using that equity to purchase other properties and expand your Portfolio. However, I read elsewhere that people recommend to save was much cash (or use offsets) as possible as cash is far more flexible and ‘worth more’ than trying to draw down on your PPoR loan for further investment? Could you please elaborate? Thanks

    Profile photo of KingKing
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    @jaydenwalter
    Join Date: 2016
    Post Count: 17
    June 19, 2016 - 10:38 am

    True, because I can claim it as my PPoR and live in it for at least 6-12 months I can reduce my CGT as well as be exempt from stamp duty.

    Profile photo of KingKing
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    @jaydenwalter
    Join Date: 2016
    Post Count: 17
    June 19, 2016 - 10:16 am

    Thanks Benny, much appreciated.

    I agree, I have been going back and forth on these points for a while so I thought a discussion on here to supplement my thoughts would help me (and others) out.

    From what I understand, I am able to use the FHOG in the future even if I have an IP (only if I can prove I have never lived in the IP). So that option is always there…

    I guess you explained what I was already thinking, but it’s good to see somebody with more experience is thinking along the same lines.

    But again, if I were to buy an established property with the plan to renovate and sell, I wouldn’t be able to live in it while I am renovating – which could prove a little difficult. I could live in the IP during renovations, but I just wouldn’t be able to claim the FHOG in the future – but is that really all that bad?? As you mentioned above, the new properties are inflated and built purely for the FHOG so is it really beneficial for me if I was to claim the FHOG? I wouldn’t always think so…

Viewing 14 posts - 1 through 14 (of 14 total)