Hi Pete the Builder,I posted another topic today regarding finding a builder in Sydney to undertake the construction of a dual occupancy development in the Bankstown area in Sydney. My partner and I are both town planners and I actually worked for Bankstown Council for quite a number of years approving many dual occs. Anyway, we have all other…[Read more]

Santariniwalk,The general concept of purchasing properties on a negatively geared basis is a long term wealth strategy adopted by many Australians. You do not, and should not, go through a company offering a one-stop-shop service as you will be paying for it all the way, and they are usually a developer trying to sell their properties at inflated…[Read more]

JXF,As TerryW suggested, this occurs where the income from your collected rent on your investment properties exceed you expenses on that property. Try reading Steve McKnight's books, he essentially buys cheaper properties in regional areas where the rent covers the costs of owning the property (mortgage, rates etc) as soon as he buys the property.…[Read more]

Hi Rod,I am a town planner in NSW. If you are in NSW you can order a Section 149 Certificate for a small sum which tells you the zoning of the property and any affectations on the property, like if it's flood affected etc. The Certificate is generally fairly clear, but even if you don't understand all of it, every council has a 'duty' town planner…[Read more]

Hi Shanshan,I'm from Sydney so I don't know the market in Adelaide. Itis generally a good idea to just get in the market asap, however, there is a property cycle which occurs usually every 7 to 10 years and sometimes it is better to wait. For example, I bought a house about 2.5 years ago and it hasn't gone anywhere at all, so if I had been aware…[Read more]

Bangers68, TerryW is spot on! The debt on your PPR is not tax deductible, so you should definitely seek to get rid of that debt as quickly as possible, and then use a line of credit to access the additional equity for an investment property purchase. Of course, if you wanted to you could probably purchase something fairly cheap, for say $180,000…[Read more]

I am also curious about the issues of GST. I am intending on undertaking a dual occupancy development next year and then using the equity in it to do another one and so on. If I undertake the developments in my name and do not set up a company for it, then do I still have to pay collect and pay GST to the ATO?Also, I am intending on keeping each…[Read more]

Damian,I would strongly suggest reading the book Rich Dad Poor Dad. The book talks about the concept of not buying your own home, but spending your money on 'assets' which are things which put money back in your pocket. You will probably find that you can afford two or even three investment properties of the same value as one property that you…[Read more]

Lausy,

I am located in Sydney, so I’m not sure if the rules that apply are the same, but here if you get the first home buyers grant, you have to move in within the first 12 months, for a minimum period of 6 months. When I bought my house, I put tenants in for the first 6 months, then I moved in it for 6 months, which was pretty tough without the…[Read more]

Hi Tina,

Both my partner and I are senior town planners in Sydney. I have worked for five different Council’s over the years, and undertake some consulting on the side.

Richard is correct in that a town planner may be able to help you, however I think this is unlikely in this case. Contrary to Amanda’s advice, the counter staff are generally…[Read more]