Thanks Number 8 That is definitly something worth remembering further down the line, depending on retirement ages by then. The property is in the name of the younger of the two of us only born in 64 so falls under the new age requirements the other is ok to retire early and has no super so maybe worth thinking of super splitting further down the t…[Read more]

Thanks Number 8Yes that was what we where orininally planning on doing and just letting it and any future ones pass down to our kids (20 and 17 at present). We went to an ATO seminar a few weeks ago and it was suggested to minimise the CGT that if you if you take a yearoff  with no income and sell in that same tax year you will reduce your tax on…[Read more]

So how long is the norm for holding on to a property, we had handover for a new build early June and our first tenants moved in last week. The house is in Chinchilla so with all the mines starting to take off there we thought 15years min the best way to go plus by then we will be early 60's and plan to sell in a year with no other income to m…[Read more]

Thanks Number 8 for your answer. Will make sure we go for diminishing when we visit our accountant nex month.

Wouldn't go near them they are very shady

Mcubed82 wrote:
Hi JPSJust reading this, can u please give me an idea as to what u paid for the property to get this sort of rent, $400cheersMel

Hi,Mcubed82 We bought the land last year along with the house as an all in one package on 2 contracts direct from Suratbasin Homes take a look at their website http://www.suratbasinhomes.com.au and speak to…[Read more]

Yes we are pretty happy with the outcome plus they may sign for a further 6 months after the 12 months are up. The best thing is we know how much we will have coming in for the next 12 months. Thanks for taking the time to advise us.

We have just had confirmation of a 12 month lease being signed. I think this can only reflect the high standards that Surat Basin Homes put in. I would definetly recommend them

Thanks JacM and Kate,PM phoned just before they have just signed for the full 12 months so very happy with that, Its a good start to our first Investment PropertyThankyou for your Advice

Yes they do but only young a baby and a toddler, he is about to start work for one of the mining company's in Chinchilla so school hols shouldn't be a problem. Asked the property manager about maybe doing 8 months so she is going to ask them and get back to me on it. If not we will settle for the 6 months which will take us to Jan 9th or around…[Read more]

Thanks JacM I will be speaking to our property manager soon so yes I will ask her to put that to them 8 months would take us to March 9th or thereabouts sonds good. Also gives the tenant time to settle into a new area and decide if they want to build new or buy

We have just done our handover for our first Investment IP with Steve Bradford from Surat Basin Homes at the beginning of this month. We also have a tenant ready to sign a lease starting in July. Both Steve and Jay were very helpful and proffessional in thier approach to everything. The house was built to a very good standard and are definetly one…[Read more]

Hi Brett, We have a house about 8 weeks from completion being built for the scheme down here in QLD. We had no trouble getting finance through Heritage Building Society, but we were lucky enough to have plenty of equity in our own home so I am afraid I don't know about lenders Insurance. I do know from others on this site and our…[Read more]

Hi Gary,We had no trouble at all with finance our IP is almost finished, we went through Heritage building society and they have been great. The builders also commented on how prompt they were paying the invoices for each stage of the building process compared to other banks. What we have to decide as we seem to be the only one that has gone…[Read more]

Hi Gary,Recieved this the other day not sure if you saw it. We also went out to see the house we are building, its coming along good. Spoke with our builders though and they reckon a lot of investors going for the NRAS are having trouble getting finance and pulling out because of it. We are wieghing up are options as to carry on or rent out to the…[Read more]

Also you are negativly geering more for 10 years, as you have 20-25.1% less rent coming in and slightly higher property fee's than the normal investor to offset against interest paid. Which in turns gives you a better tax deduction. Then on top of this you recieve between $80k-$100k over a 10 year period  tax free. Less chance of the property b…[Read more]

NRAS no need to worry about the new tax ruling 2009/147 as that is being sorted out as the whole idea of this scheme was to get investors involved to boost housing. This is a letter that I recently recieved:- Mr Mike Myers Chief Executive OfficerQueensland Affordable Housing Consortium Ltd. Dear Mike,I am writing on behalf of the Department of F…[Read more]

Yes I agree with you Richard but there will be a lot of these properties being built over the next few years so no harm in doing your homework on them now and then putting as much as possible into savings or mortgage to gain the equity needed in the near future. Some sites to look at…[Read more]

We are new to it too, not sure how you will go about equity but have a look at the NRAS scheme, it is for 10 years and is a cashflow investment which may help you get your 100% loan. There are a few problems with the tax offset as to who gets it but it is being sorted out between the government and the ATO so shouldn't be an issue. Have a look at…[Read more]

Thanks I gathered that already no intention of buying anything through them, more just using them to gain more information. We are in the process of building our first investment house under the NRAS scheme, just thought that if either of them are good may be worth going to. Picking up a few tips using this site though its good to use as you have…[Read more]