Hi Cyclist,

1. Try the web for properties for sale in the area of a similar nature to what you will build for their asking price.

2. Get estimates from a builder or project builder (this is probably the cheaper option)to build on your block

3. Don’t forget to add for the completion of the property – driveways, carpet, blinds, light fittings,…[Read more]

Hi Everyone,

I am self employed & so lucky enough to not worry about the outcome of all this. However, I do try to keep up to date & like Foundation have tried to read all that I can obtain on the topic. I frequently debate the idea with family members which ends up heated & getting us nowhere.

I suppose the question I have is, everyone is…[Read more]

PK

Just the laugh I needed – LOL

EXCELLENT!! (Still laughing!!)[laugh4][laugh4]

Courage is not acting without fear but acting despite your fear.

Hi Everyone,

I will try & clear up the GST question for you. When buying a commercial property with a lease, the lease can be seen as carrying on a business in that you are the landlord deriving a “business” type income. There is no GST on businesses being sold as a going concern however, in order to continue the business of deriving rent you…[Read more]

Infinite,

I am not 100% sure on this but I think you will find you don’t pay stamp duty on the property but on the share transfer of the company. Given the company still remains the owner of the property but the shares in the underlying company are changing thus stamp duty is payable based on the company’s holdings ie how much cash, how much…[Read more]

Hi All,

We live about an hour south of Sydney & we started in invest interstate. We could not handle the distance in trying to manage the property & so reigning our properties in to within a hour travelling time.

Courage is not acting without fear but acting despite your fear.

Hi John,

Some things to look for would be three phase power, height of roller doors, accessibility for trucks (ie make sure there is no retaining walls, bins etc to hinder turning circle), thickness of slab, whether it has a mezzanine of whether one can be installed etc

Just some ideas, hope they help.

Courage is not acting without fear but…[Read more]

Nasty situation… My first thoughts are to kill the valuer.

Maybe put in the offer anyway, although the vendor knows what the valuer has said does not mean they will change too much & might just be happy to take the money & run.

Good luck

Courage is not acting without fear but acting despite your fear.

Cojah,

Try approaching the local council to get details of who owns the property. As for how much they paid, some regions have that info available on the internet. If it is in Canberra or the South Coast of NSW try http://www.allhomes.com.au

Kim

Courage is not acting without fear but acting despite your fear.

Ben,

I am going through this at the moment but we are now both in agreement to sell. I asked my solictor the same questions. Basically, you can’t engage a real estate agent to start marketing the property without all parties signatures on the sales agreement.

I have requested a sales contract be drawn up by my solictor, however the property…[Read more]

Willi,

Do you have any equity in the property that would let you borrow for your business venture & keep the property?

Kim

Courage is not acting without fear but acting despite your fear.

Jonesy,

Firstly, I would have to find out just how risky option two is. What I mean is, what is the average number of weeks it would rent out for at the higher rate. If on average this would still give a negative result, I personally would be looking to sell while it is still your PPoR avoiding the CGT.

I would then put the extra money into your…[Read more]

Great story Redwing. Just the laugh I needed to start the morning. But I am with you Sonja, it isn’t hard to imagine at all. What if it was from a council or something & was the reason to hold up a settlement?!?! He won in the end though.

Kim

Courage is not acting without fear but acting despite your fear.

Just a quick note too, you actually can’t get landlords insurance on commercial property.

Courage is not acting without fear but acting despite your fear.

Hi Guys,

I hope the Sunday paper was right. I am waiting to list an investment property & it will obviously make a big difference. Our local paper said today we is not confirming. The other problem I see for me is that it won’t start straight away.

Kim

Courage is not acting without fear but acting despite your fear.

Hi Dr X,

I am proud to say that by no later than Christmas we will have my husband as a full time property investor. We started playing in the property market on, ready for this, Sept 11 2001. Very weird I know but thankfully we are doing well unlike the tragedy in USA.

We are both currently running our own businesses as well as doing property…[Read more]

Ben,

There are a lot of highs & lows in real estate but I suppose this is what keeps us going. The only advice I have for you is to educate yourself. Talk to as many people as you can & ask them you they use as their accountant or solicitor etc. I always find word of mouth is the best way.

Good luck on your journey.

Kim

I agree with Endless Summer.

No amount of money can replace a potentially broken family life or the damage to your children. Start talking to agents…

Good luck

Kim

Dont’ Fight Facts,

You have proven for me that you can have positive cashflow & capital growth in major cities – thanks.

The other point I would like to make is who said anything about 100% finance? Imagine if you had a deposit & purchased with 80% finance?!?!? Not everyone likes LMI.

The most I have ever done is put a holding deposit without having finance approved. But as this indicates, a holding deposit is just that, if I choose not to go ahead it is refunded to me in full.

You should not sign a contract without finance, like Dr X has already warned.