If there are any similar blocks of land in the area, check out what price they are on the market for.  There are many variables that can determine the value of the land including: Area (m2), Main Road or Quiet Street, Aspect (N-S or E-W), Views, Slope etcHerron Todd White are a big name in valuers, but I'm not sure if they the best value for…[Read more]

Hi Brandira,You're situation looks pretty good to me.  Since the house is your home and not an investment property, do not stress too much about the capital gain.  If you like living there, then that is the main point of owning the house.  How long have you owned it for?I would not spend the savings on paying off the car loan in one lump sum, be…[Read more]

gimlee wrote:
lifestylez and Andrew_A, I like your way of thinking. Cool quote Andrew! I might go with that.Mmm, a question, what about the people in the US who were thinking that before their houses went down the gurgler?

Well, before they went down the gurgler, it was not a time of fear.  It was a time of optimism when lots of people were…[Read more]

Nathan Birch wrote:
I outsouce all the work. Its located in a private area of mount druitt. Deals are out there buy them all the time, houses, units, villas under $200,000 can be found.

Ahh no worries, I haven't looked in the Mt Druitt area before.  That's much cheaper than the outer areas of Brisbane and Logan and they are supposed to be…[Read more]

Cheers.  Looks like I've either been misinformed or been misinterpreting what's been said about this.  Thanks for clarifying Terry.

Hi Melzey,Will you be buying near the end of the lease?  Eg. Once the house settles, there may be less than 6 months left on the lease?My recollection of the FHOG rules are that you must live in it for 6 months out of the first 12 months.  This might mean you could rent it for the first 6 months and then live in it for the 2nd 6 months and still q…[Read more]

Hey Terry, you could be right as I'm not an expert in the area of taxation law.  However, my accountant advised me this was the case and I have also seen this situation being discussed many times on sky news business channel who say the same (eg. Margaret Lomas and crew).Maybe I've misinterpreted what they've said.Can you provide a reference to…[Read more]

I was in a similar situation.  I had taken out an equity loan on one property for the intention of using it for personal reasons (eg. buy car, furniture etc).  After a while I decided to use it as a deposit on another property.I was not able to claim any of the interest on the equity loan, regardless if I sold the first property (which I e…[Read more]

Mate that is really impressive.Did you do the renovations yourself, or hire contractors?What suburb or area did you buy in?  $205k seems unbelievable anywhere within 100k's of sydney (not calling you a liar )Darren.

Hi,I will try to offer some help but alot of this depends on where you are intending to buy.1. You can still subdivide if you don't intend to sell, because it still means you will get an extra block of land.  You can then keep the original residence and just sell off the subdivided block to make some instant cash.  Or you can then build on the s…[Read more]

Hi gimlee,I say go with what Buffet says, get in when others are fearful…otherwise what sets you apart?As long as you do your research in the area and make sure the fundamentals are right, then you can be confident.Examples of fundamentals:- Is the population increasing in this area?- Is there infrastructure being developed that will draw…[Read more]

I don't think you'll see much in the next 12 months, but hopefully things will pick up after that.I bought a townhouse in the logan area 2 years ago, and the value has gone up maybe 5%, but if I were to sell in todays market I may even make a loss.  However, I still believe it's fundamentally good investment and the rent has gone from $375/week…[Read more]

Jamie M wrote:
Excellent advice….. and not because you agreed with me CheersJamie

Cheers   I will try to disagree with you next time so we can at least get some tension going!

sare mcdee wrote:
Hi Darren, My issue is that he does not think I am owed anything (my deposit, nothing) because of his perceived "drop in the market" (which we don't know for sure as we have not yet got any vaulations done)!  So yes that is my plan. If he still pushes back i am going to get legal rep or just force the sale, so either way, we bo…[Read more]

Hi ATurner,I agree with JamieM you should not be buying property to reduce your tax bill.  Negative gearing only helps to lessen the cash LOSS that you make.  If you buy a property and it costs you $100 a week to hold, that is a loss, negative cashflow.  You would only accept this loss if the future capital gains for the property outweighed th…[Read more]

Hi Sare,How much has he offered to buy you out for?If he has offered you the original costs you put in (eg. $20k for deposit, half of loan expenses etc) then I would take it.As you say, the property has most likely dropped in value since you've held it due to the bad market which is why you should let him buy you out (assuming you get your…[Read more]

Hi Saqib,Have you considered Logan which is further north of Coomera?  With your budget of $250k, you can still buy a house in some parts of Logan.I sold my 3 BR, 2 BTH high-set house last year for $292,000 which was in Slacks Creek.  The house was on 670m2 of land and in a quiet street, I think it was renting for $310/week at the time I sold i…[Read more]