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Thanks JacM good thing to add to the list I'll have a good read of that see what it says and let you guys know.
I'm hoping to get the Real Estate on board early so few days after we move out, (want to finish a couple of things) can have some photos etc done and straight on the market.
According to some latest construction rates it appears:
Single story self care housing units with medium standard finish air conditioning is around $1900 sqm for Sydney
Nursing home built as homes, single storey and central care units for Sydney around $2000 sqm
Is it just me or have people died off being on the edge of their seats each month with what the RBA are going to do?
When you use the search function for any keywords on the right hand side lets you choose what year nothing seems to come up after 2007?
WomeninPropMelb wrote:I guess you hear what you want to hear. You are welcome to not be a fan of OTP – that is your choice.
I hear that people purchase OTP and do very nicely.
You can always hear those horror stories if that is what you want to believe.
The Universe reflects what you put in….I have a wonderful family, a great job, very handsome income, multiple investment properties and enjoy being around my friends and family. The universe has treated me very well and I put in a lot to get that (help with charities, schools, volunteer at several other events).
So if you think my opinion of OTP reflect the rest of my universe its not me that is narrow minded. All it says to me is that obviously women in property like OTP purchases? But I’m not going to jump to that conclusion I’ll just accept you have an opinion that there are good and bad stories for everything in life, including OTP and I agree with that!
Not a fan of OTP.
Pay your deposit, get a presale, developers get approval, build, then they use one of several key clauses that you wont be able to change regarding valuations or simply because they can delay it and then rescind. They have got an interest free loan off you, the give your cash back, sell the property for more and they win = you lose. Isnt that what I hear all the horror stories about or did I misinterpret that complety Im sure its not as black and white as that but you hear all these stories.
Your also in situation where if the apartment gets valued differently in future you could be in trouble.
I also am not a fan of strata fees and paying special levies etc if something breaks or is raised by the strata.
Units and OTP are just not my cup of tea.
No idea you may have to ask them.
Have you seen both their reports, I remember I got them all to email me samples before I went ahead with anyone just so I could see the layout and my accountant had recommended BMT for that reason but I cant remember if I saw a Washington Brown one at all.
If you go Washington Brown let me know details about your property I have a nice portfolio of new, old, renovated, unrenovated etc etc all have reports we might be able to compare what deductions we got.
I got quotes from $200 up to $1,200 on some of my reports so 500-600 is right in the middle but I chose based on
: Quality
: Report layout
: Recommendation from accountant
: People that were recommending that company (large organisations) etc
: Exposure I’ve seen the you tube videos, I’ve seen Mr Bradley Beer on TV and on news articles etcThats just my personal opinion and like I said be interesting to compare if you go for the cheaper product.
Definetly make sure a qualified person is being sent, I think thats what some of the cheaper ones dont do which is scary.
I went with BMT because when I googled BMT Tax Depreciation and all the stuff that came up I new I was dealing with a professional company and if paying $50 got me an extra $2,000 in that first year I used it then it had paid for itself!
Let us know how you get on when you decide – have to got some example reports to look over thats another thing I asked each place for so I could view the products.
I have had a few jobs from BMT done so far. One was a really old place, built in 50’s, unrenovated but had quite a few things in it. Got about $1800 in the first year for that one. I was happy with that thought I would get nothing at all.
The other few have all been renovated or newer so have had much more, one of the brand new houses I built the BMT report ended up with $16k in the first year.
Think Jamie is right, comes down to getting a good QS I’ve read some horror stories and some of those onlines ones that dont even visit the property – I can’t remember who it was when I rang and they asked me to go fill out a form at the property. Im not the expert aren’t they meant to be going out there? Makes no sense to me!
If you buy this property together and then decide in couple years, when you have your own cash or you want to buy with a partner etc they will look at the entire debt you have with your sister I believe so serviceability can be issue if your not going to continue buying property with your sister. I’m sure there are ways around it so it doesn’t hinder your serviceability.
Also are you both going to be using your FHOG. If you do you both forfeit it moving forward I believe as well.
Just couple things I could think of quickly
Lol yes gng, coffees aren’t getting any cheaper but then again macca’s coffee vs well brewed cup you will pay a premium for that too!!
Its a fun juggling act!
Hi propertyboy, long time stalker first time poster! I couldnt help but see your post about depreciation as I’ve had a few lengthy discussions about this over last month or so and thought it may help you.
I’ve personally used BMT a number of times. Rather than rattle it off as my first post I thought you might like to see to see a few good discussions about it you can see them here which hope helps.
Overally I’ve used the cheaper ones, tried it myself once and have used BMT. Definetly worth paying for a proper report but I’ll let you read the discussions.
If you have any particular questions PM me. If I’m not supposed to link to other forums just let me know i’ll remove and copy and paste my replies but just thought it would be easier.
http://somersoft.com/forums/showthread.php?p=917070#post917070
