WOW !!!
You guys disagreed to agree..

someone say something contentious so we can get off track again

Simon,
That link does not seem to work…..for me anyway.

Hi Derek,
A question for you…

quote: I also recognise that I am investing to make money rather than saving tax – any tax savings are considered a bonus.

Does this mean that if negative gearing was abolished .. hence no tax refund to support your neg properties, you would still hold onto them on the basis that the anticipated capital growth…[Read more]

Used to be “no go’ areas with the high level of state housing, aboriginal vs vietnamese gangs, etc.
But in the last few years I understand that the govt has spent up big to rejuveniate the area and encourage more home ownership of the homeswest tenants.
Similar to Balga.
G’ween is well located and should have potential, if it hasn’t already gone off….

Geeze we just sold a property….never considered that the insurance might not cover it while it was on the market

This cannot be right !!

Are you sure it you are not confusing the coverage of the property if it was vacant vs being occupied ?
I understand Insurance companies do not like a property to be vacant for any length of time…

Our…[Read more]

Gambini,
How does your comment relate to the original question ??
I am sure that you have lost, or missed the point.

Doing ANYTHING in partnership is inherintly risky.
An investing partner can leave you carrying ALL the risk very easily.

A mortgage broker only gets paid if he delivers on the service he provides…ie sources appropriate finance…[Read more]

Well in the lease agreements I have used, there is an option on who pays for water or excess water. ie..0%, 50% 100%
Since water used is all chargable now, we elect for the tenant to pay 100%

As for bottle gas, I have always wondered about that….having never had a property with bottle gas ( usually mains reticulated gas off the street..)

I…[Read more]

This is a reeally good question YC,

I think you will find that your strategy will change as you get more experienced and get a better feel for your target market.

Steve did detail at the start of his journey, of the humble beginnings in the property investing game.
Starting with one property, and of how long it took to get that one…[Read more]

Luke,
When yo say a “flip” as in, onsell a property either before you settle or else settle with a view to sell again immediately, the as far as WA goes ther is no licencing requirement.
But you will be liable for stamp duty on the purchase.
As far as a licence goes, you may be referring to vendor financing or wrapping, which is one of the…[Read more]

Consider getting in touch with Metropole property Management.
They are in Melbourne and specifically do this sort of thing ( developments for private individuals)
It may be a good starting point to get some expert advice.

Hmmmmm…time to change banks ??? or try going through a good mortgage broker.

I used to think ( many years ago) that the bank manager was god and that it would be a good thing to build up a relationship with him.

The branch went through 3 managers in the two years I was dealing with them…two got made redundant, the first one told me he was…[Read more]

WOW !!!
Hope its good for the price…..any guarantees… eg…that you will make 10 times the ticket price if you follow their tips ??

OINK! OINK! errrr… which way is south ??

The book was great but I don’t think you should take it literally…such as trying to find property that conforms to 11 sec rules, etc.

Surely there is a greater message behind the book…such as developing an investors mindset, and exercising discipline, and getting used to looking at property using…[Read more]

Hey Madcat…
BHP have just signed a $20 billion supply contract for 20 yrs, on top of their existing contracts.
They are spending 100’s of millions on expansion.

There are other miners ( Hope Downs, Fortescue Metals ) that are in the process of getting their projects up.

The associated miners and oil/gas producers in the Karratha area are…[Read more]

eye b4 eeeee except after ceee

Yorker,
Any details on the deals being offered ?
ie..what are they..apartments, hi rise, location ?
Is your friend a Malaysian national.

I looked at something similar in Indonesia…the land was leasehold, cheap to do but the risk was high.
The term that comes to mind is “Soverign Risk” ( thats the one the lawyer used)

Be careful,
KP

Hey Redwing,
I didn’t want to go there. No victory in winning a lost cause.
We were already at the stage of having a swinging dick competition……we weren’t discussing the property anymore, just trying to out argue each other for the sake of it.

Dereks’ got a point…I guess the average agent must hate a number crunching property investor…in…[Read more]

Had the same problem personally.
Its not the brokers fault….its the banks requirement.

Because I am the main breadwinner, but wanted to include the spouse on a property purchase, they were happy to extend the loan to me but the spouse to be party to the property transaction, had to do the guarantor thing ( in case I default, die, etc)

Same…[Read more]

Stuart,
There are TWO borkers on this very post who are reputable, both have replied to your question…
Why not try emailing them for a start ???

Excellent synopsis Peter,
Straight to the point..and accurate as well.

Another point with using depreciation ( non cost tax deduction) is that it erodes the value of you asset base by the amount of the depreciation you have claimed as a tax deduction.

If and when you sell, you will be liable for capital gains on the sale price minus the WRITTEN…[Read more]