Thanks Del and Will

I am actually going to the info session on Tuesday night, but just before that, I was wondering whether anybody will recommend a website or magazines or books that I can read up regarding the property market in the USA (e.g market performance, settlement process, negotiation terms)?

Cheers
john

Want to join financial independence before 31 years old, currently 25

thanks everybody for your replies,

I was wondering can somebody recommend whether it is a good idea to purchase IPs in NZ using a hybrid trust (incoporated in Oz) or is it better to keep Oz investments completely separately from NZ?

Also, can somebody recommend a reliable accountants that will assist in getting the correct structure for investing in IPs in NZ? I have got a quote for NZ$2K + GST for setting up such a structure, is it the normal price?

Cheers
john

Want to join financial independence before 31 years old, currently 25

Steve

Let me try to understand this theory. Rather than me trying to second guess what the potential tenants want (which can differ from individual to individual), I offer them the basics (which is 160/week as what the rental appraisal says) and then offer them extra benefits (provided that the property is in a livable stage)?

thanks
john

Want to join financial independence before 31 years old, currently 25

Coastmike

What’s happening with this property is that the loan is taken out on the trust name and I am the guarantor of the loan. the numbers for the property are:

* 10K rent
* interest payments of 6K
* annual management cost (insurance, body corporates, rates) are 4K
* deductions are 4K
* repairs are 3K

Excluding the interest payments, the trust incurred a loss of $1K, considering I am the sole unit holder for trust. When I buy units in the hybrid trust, I believe I also buy the trust income/loss. Thus, i am entitled to claim the 1K trust loss against my other income.

Assuming my salary is 40K, my taxable income (accordingly to theory), should be 33K (being 40K – 6K of interest – 1K of trust loss)??

Cheers
john

Want to join financial independence before 31 years old, currently 25

thanks everybody for their replies.

So I’ve heard about negative gearing and I thought the losses can be claimed against your own personal income. If the trust is not possible to distribute losses, why would anybody purchase investment properties via trust structure?

Thanks
john

Want to join financial independence before 31 years old, currently 25

Considering I am doing the reno for 2 bedroom units in Beenleigh, is there any weekend auction market in Brisbane that sells the following at wholesale prices:

1) kitchen benchtop
2) shower screen
3) vanity unit
4) toilet and cistern unit
5) cooktop packages
6) door handles for kitchen cabinet
7) timber or vertical blinds

but i am unsure whether if the size does not fit, will i be able to return it to get the right size or get a refund

thanks
john

Want to join financial independence before 31 years old, currently 25

Just to add to that, I was wondering whether renters in Beenleigh area prefer carpets or floor boards?

Cheers
john

Want to join financial independence before 31 years old, currently 25

Just another interesting situation. I’ve tried to contact a few insurance companies and brokers, but they are not open to the idea of renting out each room individually. They will not provide any insurance even if the property is managed by rental manager and a bond is collected. I was wondering does anybody knows of any insurance companies that is open to providing insurnace when each room is leased out individually?

Cheers
john

Want to join financial independence before 31 years old, currently 25