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Its 100 percent tax deductable, you can add being a member of this to the new lease agreement , some lease agreements list certain problems are the responsibility of the tenant anyway, i am sure the tenant would be happy if he didnt have to pay for the cost of a plumber to come and unblock a toilet on a Sunday night.
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unfortunately i am in the same situation,i did the webinar today ,our situation was the biggest talking point of the whole thing!!!!!! Most of the advice was to sell under performing assets rather than waiting for the market to turn,due to volatile interest rates .So if your skating to close to the edge , or feel the property has reached its potential,it may be time to move on……….I called my agent and dropped the price on one of my properties , it has been on the market for 8 mths,no offers, no increase in value in the forseable future so bye bye..cheers john……..
Hi all! children are not that hard financially !!!! I agree with daniel ,property is not easy to keep,you must keep an eye on your position constantly!!! I dont know why people troll through these forums spruiking about historical interest rates, over borrowing,and all the doomsday conspiracy theories,these people own nothing , dont have kids and probably never will!!!! No!!! these forums are for positive ,optimistic,investors ,who know boom bust cycles and who should manipulate their finance position to suit….cheers!!! john…[medieval]
HI ALISTAIR i have chaged my user name, got sick of being referred to by second name !!! any way paynesville is where i am precisely!! newlands drive to be exact !!!! To my knowledge, the council ,dont require any of the things you mentioned ,they require a planning permit when you apply for a building pemit if there are erosion overlays etc ,effecting the subject land.A good surveyor will guide you through the process!!!! The steps i have outlined work in victoria !!!! cheers john…[medieval]
Hi all,I find latrobe fantastic to deal with !!!! very flexible indeed ,i am in east gippsland (rural) i do small sub divisions ???? might be an interstate thing????? cheers john…[medieval]
HI all,Depending on the type of loan you applied for, .If you went for a 80% lvr the lender would give you 80% of $150000 which is $120000 . cheers john….[medieval]
Hi all,I am on my fourth three lot sub devision !!! My surveyor tells me what i can get away with, you can apply for a building permit at the same time thats up to you ,in victoria ,from my , experience , it wont make any difference getting the sub division done first!!My current sub division in paynesville was done that way, i received three objections to the sub division, no objections ,to the construction of the house on lot one!!! so you never know!!! I always ask my surveyor his oppinion first before buying ,then my valuer , then my real estate agent !!!in that order, agents will tell you what you what you want to hear sometimes ,valuers wont!!, their brutal,thats what you want!!! cheers john…………[medieval]
Hi v8 its probably important to note i am a plumber / building estimator by trade,which helps when evaluating property upgrade costs.The woman i purchased the property from, dumped it when she got qoutes from various builders, the property is in east gippsland ,the builders quote at 10-12 thousand dollars per square , i use simonds homes who are around 7 thousand per square , then i add all the bells and whistles.(decking,landscaping etc) which works out well except for the time it takes to get to, contract stage ,then construction, then marketing and hopefully sold .This is 16 months all told which can be costly!!!! my point is, learning some estimating skills is helpfull !!!!when you are looking to” value add”/ renovate etc .You can buy a copy of the rawlings text ,which gives you everything priced per square meter,you then must enter pricing which is relevant to your local tradesmen !!! getting that info can be tricky!!! without prior relationships intact !!! cheers john whitelaw…….
Hi all ,new to this forum,not new to property investing!!! since joining property .com i have found a property which was on the market for a while ,it is actually an old garage ,14 sqs, on 300 sq mtrs of land. It has a kitchen and a bathroom and one bedroom ,the external cladding has been rendered in sand and cement.I had a building inspector look at it, pre purchase, giving me a list of requirements to bring the building up to a saleable situation cost $150 .The list price was$ 84000 i paid $70000 ,i intend to spend $50000 on renos ,my valuer expects 190000 on sale or rent it for $180.You do the math!!!! I found this property on the net as i find 99% of them !!! I am currently doing the results course when i have time!! I do small sub divisions ,build on one ,sell two vacant blocks,etc never had a clue about value adding or positive rentals watever you call them???? DO NOW!! They are out there ,a good place to start is the internet ,then get out there and look at them!!!!Do the figures and dont look back ….cheers john ….[medieval]
Hi all in response to whoever suggested i or my accountant fiddle books!!! well you need to look at your setup prior to purchase !!use a trust as grossrealisation suggested, but first, use an accountant with a background specific to property developement!!you will be suprised ….cheers john…….
Hi,am new to forums so here goes . In response to the question weather to sell or develope , i agonise over this one quite a bit ,i mainly do two and three lot subdevisions ,sometimes i sell two blocks and build on the third ,and sell ,or sellone build two etc .Recently while going over GST issues with my accountant he suggested i build all three(in the case of a three lot sub)sell two and retain one and rent it out this way you can take advantage of tax and GST positions by absorbing them into the retained property …cheers john…
