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Lumley insurance is also good, I have had 2 claims threw them and both times they paid out, this was not for property tho, it was something totaly different but still were very good, I do have my properties with them tho
Qlds007 wrote:In QldYou can claim a home concession if you:
- buy a home and move into it within one year of the date of transfer
- live in the home as your principal place of residence
- do not sell, transfer, lease or otherwise grant exclusive possession of part or all of the home to another person(s) before moving in or within one year of the date you move in.
thanks, I thought this was the case but I was wondering if there was no minimum time inforced
o a deposit bond is another way but you would have to make sure the agent will accept this as some agents do not
work out what your willing to pay, lets say max is $560k then go and get a bank cheque for $56k even if you get the property for $500k it means you have payed a higher deposit but will that matter to you?
speak to the agent and ask them, or if this is not suitable as you don't want them to know your interested in the property then inquire about another property that is going up for auction with the same agency and see what they say or send them an email.
you may find they will do EFT in front of them so that they know the money has been transfered, But make sure your bank will allow this amount to be transfered or maybe get the agent to jump in your car and go to the bank and do the transfer but you would have to ask this before bidding as they may not do it
What is the minimum for QLD?
Maybe start doing work on the outside of the property then up the rent, also if you havn't already do some more research and make sure that you can acheive the price you want.
Try Silver King & Burns, I am not sure if they have an office in Melbourne, I think QLD & NSW only
cool thanks
Scott No Mates wrote:Also remember that if you put the tenant on a commercial lease then you may be able to get all of your outgoings (even if you do it at a lesser net rent considering the way that water & land tax costs will increase over the next few years).Do you mean I can get all the outgoings from the tenant or claim them threw tax accounts
Thanks
rinnia wrote:Dont use the standard form. Get a lawyer (a good commercial property lawyer not a conveyancing one) to do you up one to suit your needs and have the tenant pay the legal costs. They will have standard form precedents they have developed. That what all big landlords do (unless its retail then its against the law in Qld to have tenant pay legal costs -so it is factored into the rent).If its leased to a retail tenant you must comply with the Retail Shop Leases Act so its a bit more complex.
Hi Rinnia,
most the time I just sign them up on a standard reiq lease form and add special conditions, as I find in this economy if I muck around to get a solicitor to draw a lease up and then charge the tenant it can sometimes loose the deal, so when I have a hot tenant in front of me out comes a standard lease dock and the deal is done then and there.
I will use a lawyer if the deal is big or the tenant asks for itScott No Mates wrote:It depends on the lease that you put in place. If they sign a residential tenancy agreement then no gst is payable and gst is taken as an input whereas if the lease you sign is a commercial lease agreement, then GST would be able to be charged regardless of the gst status of the tenant (and you being registered for gst).Thanks Scott, I am about to sign up another tenant and will probably put them on a residential lease and another property i have i think when it comes to finding that new tenant I will work it out on a person to person basis whether or not its resi or commercial lease that will be signed
I would love to know who it was?
Hi Gary, 5.89% is that fixed for 5 years? if it is that is cheap, but is it still current today or did you look at an old web listing?
Ive got one accountant that tells me to put it in a trust another accountant tells me to put it in a company and my name and another tells me in my own name??? I am confused I told them all the same details but what I think is 1 or 2 of these accountants are thinking of them selfs and they can make more money out of me if I do what they say.
Personaly I think it comes down to the individual and there circumstances and what there trying to acheive
do you mind me asking the location of the property, if its in QLD and you give me the street name I will tell you what I think its worth.
dont worry I am not interested in buying this as its 15% under valuedIf your investment makes a profit then yes nz will want to tax you on that income,
Keep in mind nz has no capital gains tax so you will pay no cgt in nz but greedy australian govt will tax you on your nz investment
another question, if i rent a house out as a home office, will I have to pay gst?
The property zoning is resi but the property can be used as a home office, so would this be classed as resi and no gst is paid?
Ryan I don't mean to be rude but the property is valued at 15% under what you think its worth and you advertise a website that says you can find cashflow positive deals?
Who is holding the deposit?
Vendor
agent
trust
If its the vendor you could almost kiss that good buy.
Lets say my mate gave me access to his rpdata, and I access the details from my place will he be able to see what properties I have been accessing?
