keiko wrote:
Bloody valuers, I would Keep it with the same agent, she sounds like she will work hard for you to get this sold, the agent may be able to make the change to the other properties that she sold by logging onto RPData and making the changes, that is as long as they have sold and are not still under contract, (I think this is possible…[Read more]

Hi Scotty,Low vals are a massive pain and sometimes unfair considering what the market is doing.I asked this question of a valuer in Melbourne as we had this happen with a client recently, and they said that as valuers are liable for incorrect valuations, they won't stick their neck out and give a valuation when they don't have the results on…[Read more]

Hi Matt,You can redraw the funds (or refinance to release equity) to help towards the purchase of a new PPOR and turn your existing home into an IP, but as the purpose of the funds is to purchase a new PPOR, they are not tax deductible. All existing debt you currently have against your PPOR will be tax deductible once it is an IP.A suggestion…[Read more]

Good to hear these stories as it gives more people the courage to ask for what they want!

I had a family member who worked for the "Shire" council and they cracked down a few years back due to a lot of developers not following guidelines in Cronulla and local backlash, so might be worth considering a permit to save yourself the grief later! I saw a story recently of Gordon Tallis being fines for illegal removal of trees (although this…[Read more]

I love Carnegie and think it's an absolute gem of an area and if you can find a property within your budget is definitely worth going for. We've found a HEAP of competition for places in that area though so finding a bargain is very hard although we're seeing a slowdown of some sorts with auctions seeing some properties passed in (although this…[Read more]

The discount should be for the life of the loan.ANZ's Breakfree rate is 6.71% (0.7% disc) with no app fee and $375 annual fee.Remember that Homeside is only the cheapest right now because they didn't go above the 0.25% RBA rise that the other majors did in December 2009, and we'd expect them to come back to rate parity eventually…

When you say you have little super then perhaps proeprty could be a retuirement vehicle for you and you might want to consider buyng and holding rather than flicking for short term gains. Longer term capital appreciation might be a better option for you for wealth building. If you chose that route then my feeling is you'd get a stronger capital…[Read more]

In Melbourne I'd say 2-10km (I say 2km as I don't go into high density in the CBD) – and I do have a bias here as that's where I;m based…Sydney a little further at 2-15km and CBD if water-side (high density is better if you have views). Apartments are generally ok as long as your views can't be built around or impeded. There is also a little…[Read more]

There are some quantity surveyors who will have a quick phone chat with you and determine if it is worth doing a depreciation report (as you'd be surpirsed just what you can claim!). They should do this call for free. It would be worth investigating as they are the experts and even accountants can miss items.I'd suggest BMT quantity surveyors if…[Read more]

You can definitely turn your PPOR into an IP, perhaps you need a new broker!I like a house over a unit (as long as you are not too far from CBD) as the land content is higher. Not sure why you think you'd get a higher capital gain from the unit…

You should only lose funds in the case of cooling off and not if the security fails a condition.Always get a good conveyancer/lawyer to look it over as conditions must be very specific and you can only pull out of a contract subject to an item failing its provisions.You can also get vendors who might dispute a condition if they feel it's not a…[Read more]

Hey P,Good luck on your venture. Getting educated first is the best step.This website is a wealth of info that will no doubt help.We have newsletters and workshops that you might find useful at our website.For your first IP, I'd suggest a low rate Interest only loan or perhaps a professional package that'll allow multiple properties (all uncrossed…[Read more]

Looking at a like for like – my preference is to buy existing and rent it out asap to get the rental income. Perhaps with some minor alterations so that I use as little cash as possible. Building new will give you additional depreciation of the building and fittings which tax wise might be attractive.Remember building will take time and you forgo…[Read more]

There are also considerations about multiple properties (last I checked), where the six years are cumulative across those you are claiming an exemption, so you'd only get six total years across them and CGT would be distributed proportionately.Definitely worth getting some tax advice if you're looking at this type of strategy.

Your best first point of call is to speak with your accountant and let him know exactly what you want (with regard to tax deductability etc) and he will give you the expert advice in which is the best structure moving forward. They do this daily and it shouldn't be an issue at all. If it is, then source out a better accountant (there are many that…[Read more]

My understanding is that after 1985 there isn't anything claimable on the building under deprecaiation (although someone else might corret me here) but if you've made capital works or additions to the fixtures and fittings theses would be. I'd guess little benefit would come from the cost you'd pay for the schedule.With regard to the tax…[Read more]

Another factor to consider is the returns each asset class would give you, the psychology of investing in a manged fund (or even trading), and whether or not you are comfortable with the more 'stable' growth of property against the volatile movement of the share market (although returns can be amazing in short periods) and managed funds and the…[Read more]

Another factor to consider is the returns each asset class would give you, the psychology of investing in a manged fund (or even trading), and whether or not you are comfortable with the more 'stable' growth of property against the volatile movement of the share market (although returns can be amazing in short periods) and managed funds and the…[Read more]

hehe probably – perhaps it might eventually give cause for a real third alternative…