Forum Replies Created
mrs palmer,
it depends what your trying to do and how many you are gonna be doing. If your treating it like a business and doing multiple, i wouldn't worry about the capital gains.
And your right, it's easier to sell with furniture. Maybe try and hire it or get the place staged. Goggle 'staged homes' to see what they do.
All the best
John
Julz & Duckster,
Thanks for you replies.
I actually have done Brendan's Entrepreneurs Boot Camp which was fantastic and highly recommend it.
Like you mentioned i have to ask, and word of mouth.
John
Hi Sonny, Once again, present the address to planning dept of council and see if its possible. as for costs for all the processes you will be looking at $15K to $20K. This will include drafting or achitects cost, surveyors costs for subdivision etc.
be aware you may have to provide a water retention system which can cost bw $8K and $15K. this is also up to council. although if you can create a straight sub division (as in not having common property) you may get away with the retention system.
an easy way to see if the property can be subdivided this way is if its a corner block or if the block is wider that 20m generally and you can create a 2nd driveway.hope this helps
John
Hi there,
Mark Unwin is my Accountant. His based in Kew. I believe he bought Steve's old accounting firm. His very switched on when it comes to property investing.
T (03) 9854 6317 | F (03) 9854 6292 | E [email protected] SUITE 604, 89 HIGH STREET, KEW VIC 3101 I pasted his details from his website.
Hope it helps.
John
Hi R.E.Q
From my experience i see the town as a little sleepy.
I had my eye on it in regards to commercial and the one thing that put me off was the amount of vacant commercial shops/office in the main street.
In saying that though i bought commercail propety in another sleepy Vic town near Mildura (+ve geared) and have just sold it and down quite well out of it.
As for residential not to sure, i sugest you pick the REA's brains, and go for drive down there during the week.John
Hi Johann,
I personally cleared all my personal debt b4 i started to invest.
If i had my time again i think i wouldnt wait to clear debt. It can take some time to pay off a house.
I think you can get yourself in a comfortable financial position b4 you start and not be pouring all your income into personal debt items.
Or you can do Dave Bradley did and sell your PPoR and rent then start investing. This is not a bad idea for short term especially if you have some equity in you home you can use.As for building units. Do you have expirience in building?
If not i would do a Buy/Reno Sell to start off with.Hope this helps
John
Hi davidjj,
Buy a lemon and transform it into a Gem!!
I think with Reno /sell your got to look for something the is sort after in the area your investing in. On top of that you need to find out what the buyers are after in a Reno and cater to the markets needs.
work out a budget and stick to it.
Make sure you concentrate on the items that every one is going to touch as in door handle, light switches, front doors etc.
Hope this helps
John
Hi Daryl,
Spot on! I've done this a few times.
What i did was simply close the blind fully and taped the ends up with tape to hold them tightly together. then simply cut them with a circular saw. It would probably neater with a hacksaw or timber saw.
Then i stained the ends of them.
Depends how much you need to cut off them, it gets a bit tricky if you need to cut the head of them.
Hope this helps
John
Hi pman,
What your purpose in buying off the plan? Is it an investment? If so , what do you plan with? Hold? Sell? Live?
Is it in a new devolopment area?, such as a new suburb for example Caroline springs?
The reason i ask is cos if your after a capital gain it tends to be slow in those areas cos the developer genarally controlls how much your investment will appreciate.
The reason being cos while there is still developments in the area or house and land packages being sold they tend to dictate the prices.Hope this helps
John
Thanks Julie!
Its ironic cos i've actually met Tony a few years back when i was looking at comm property up there.
He did seem to know what he was talking about, so i think you've just made my mind up for me.
Thanks Again
John Tarenidis
Thanks Julie
Your replies are much appreciated
Thanks, will give it a go!!
John[biggrin]
I must thank everyone that has contributed to this topic.
Thanks!!!!
Its been a great help!!!
JohnThanks all for your responses!
I’ll check my deed and take it from there.
So if the company is mentioned under the beneficiaries section, then funds can also be distribited to the company at a tax rate of 30%???
Thanks Again
John
Thanks TerryW,
After speaking to my accountant I was told that i would have to pay the higher tax percentage and made no mention about leaving funds to the company?
Maybe i miss understood her?
John [biggrin][biggrin][biggrin]
Email me your email, and i’ll send you the details
Thanks JKM, THings I didn’t even think of!!
The properties in question are self storage complexes.
[biggrin][biggrin]
Are these type of properties of interest to investors? They are both in postcodes of over 50,000, and they are both Self storage complexes, both have provided 3yrs of finacials and are 12.5% average over the 3yr return.
They are of interest to me, but they are a little out of my price range.
the other question is, what is a good way to advertise these propeties to potential buyers as the real estates agents have said they are willing to give me a slice of the pie on selling (verbaly at the moment, but i wont act till its in black & white)????
Johngrossrealisation,
I was more surprised at the return of 12.5%. I realise that price of commercial property is higher as we own some, but i don’t think of seen some thing with a return above 10%, maybe this is good sign for buyers?
JOhnMarty,
We have an investment in regional Vic which consits of 4 X 36m2 offices in one building which are all seperatly stata titled. We had no problem with financing through IMB, maybe cos it was all under the one roof?? We took out a P&I loan on that one which suits as fine. I think I/O would of been fine as well specially with more money in back pocket each month, the only downfall IO was they only had a 5 yr term as opposed to 20 yr with the P&I loan. all depends if you want to hold on to the property.
