Cheers for the link,The site seems a little sparse and doesn't have any prices up. Does anyone know if this site is expanding?

Also look into how you purchase the property; I've seen few basic partnerships from time to time where they just put both names down on the Title. This can cause servicing implications for borrowing when it comes to the next property. It depends on the type of project; I’ve seen people do it through a company or trust as the entity which owns th…[Read more]

Hi Oryx,Congratulations on emigrating to Australia.If maintained a timber veneer house should last more then 40 years. I see plenty of 1940s built houses still around and that is 70 years. There are often many other variations (more popular depending on area) like brick veneer and double brick.If you are worried when purchasing an older style…[Read more]

Hi,My background is a BA in economics and I would say there are few areas which do help with property investing or investing in general / don’t bother about most of the academic predication stuff because no one has a crystal ball.Some areas where you should look into:1)      Excel class – You can do this at TAFE or even adult learning centres.…[Read more]

Squirrel,A good managing agent will have a core area they specialise in and then reject properties outside of it. Therefore, they are able to operate under economies of scale. This means the cost to operate is lower and they can provide you with better service. A good agent will have it on paper that they stay under 100 properties per agent. This…[Read more]

Hi Squirrel,It isn't too common, but rent rolls are often purchased and sold. Often to keep you on as a client, they will keep the property manager assigned to your property. However, sometimes this is not the case. Some things you should ask a managing agent in writing include:What is the cap of properties for each property manger? Fewer than 100…[Read more]

This is a tax question and you should seek advice from an accountant.From my experience in the past, with the FHOG you have to live in it for 6 months after settlement. When a renovation is done while a person is living in their principle place of residence it isn’t tax related because their principle place of residence is CGT tax exempt.  If a p…[Read more]

Hi Natasha,If you don't mind, I'm going to post the same advice I sent to you in the private message in which you asked me for advice:If you are both brand new to property investing I see young couples run into two areas of trouble. The first being equity and the second being servicing – this happens a little down the track on property 3 or 4. T…[Read more]

Hi Ravi, Like yourself living in Perth, I had an interest in property from a very young age. Now 22, I've completed my first project (started at 21) and working on my next deal. I work in the industry full time, helping other investors build wealth. The job I have is quite lucky as our companies MD puts a lot of effort into training and has a…[Read more]

Hi Kate,Firstly, I would like to say congratulations on paying down your mortgage. You can’t get tax concessions for an owner occupier similar to the ones of a negatively geared investment property. From my experience in the industry, I have seen one way some people have done it. They have purchased in a trust and then they have applied to rent t…[Read more]

Hi Dada,I wouldn't say never invest in mining towns, but do it when the risk to you can be measured. If it is your first, 2nd or 3rd purchase, this will make up a substantial part of your portfolio. When speculating make sure you can afford the drawdown on your portfolio. Prior to the 00's mining boom the Northwest Mining Region of WA averaged a r…[Read more]

The banks don't do any classing, that is up to the valuer. In terms of bank application, it is up to you to fill it in as truthfully as you can. In grey areas, you should talk to your broker.  On the valuation side, they should take the sleep outs into account as these will effect the price. What you need to know is the impact these sleep o…[Read more]

Hi Larry,When purchasing property, banks lend on two pillars. The first is deposit and the second is servicing. The most favourable banks I have approach calculated that I have enough income to service about 450K worth of investment debt (taking into account rent). This is because I am income and equity poor being younger. With that 450K I could…[Read more]

It is your full marginal tax rate as it is less then 12 months. but 50% of something is better then 100% of nothing.

Just updated figures according to my final P/L statement.

Andrew:I'll post up the figures later this week, A basic breakdown is as follows:Kitchen: 3.5kBathroom : 1.75k + 1.75kRepaint all inside (some outside): 2kFloors: 3kElectrical: 2kPlumbing: 0.5kPool: 1kOutside: 2kPlaster: 1.5kOther: 2KBiggest bang for buck:1) New floors2) paint3) Remove out old fans and replace lights (had ducted Aircon)4) New…[Read more]

Hi Tom,One of our Buyer's Agents have done a few developments up north, one of which is in South Hedland. If you want to PM me, I can pass your details on to him.He's always keen to help.Kent

There is the option of buying in a rezoning area, land banking for a few years and developing yourself to hold. Renovation is another way to obtain depreciation benefits. I find a few draw backs in new property include:1) You're competing against FHOG and they are normally market ignorant, emotionally attached and willing to pay above true va…[Read more]

My apologise, I don't think I made myself clear. If you still have the income to service the loan then there shouldn't be a problem. However, if you are looking to solely capitalise interest without an income (living off equity) then you won't be able to do this.