matthewp replied to the topic If you could buy in ONE suburb where would it be?? in the forum General Property 12 years, 6 months ago
Balmain. 100%.
matthewp replied to the topic Higher Density vs Medium Density Apartments in the forum Help Needed! 12 years, 7 months ago
It depends what you want out of the property — cash flow or capital growth. If you plan on holding onto the property for a long period of time then a newer higher density apartment might not be that bad (if the rent return is good). As others have said, if you’re buying for capital growth, it might take a while as there will be many other…[Read more]
matthewp replied to the topic self managed renatl in the forum Help Needed! 12 years, 7 months ago
Catalyst wrote:
Before self managing you need to know the rules. Do you know your rights? The tenants rights? If there's a problem are you able to represent yourself in court? When there's a leaky tap etc the tenant will ring you. Are you OK with that? Are you willing to contact maintenance people? Do you have numbers on hand for emergencies?…[Read more]matthewp replied to the topic property investment property and extra repayments in the forum Help Needed! 12 years, 7 months ago
Hi Derek
Thanks a lot for your reply, makes sense. I can depreciate a lot of items, given it’s a 2 year old property. I also pay strata fees, but I don’t pay for property management fees as I look after it myself.
I’m actively looking for another investment property given the current one is almost paying for itself.
Cheers
Mattmatthewp replied to the topic self managed renatl in the forum Help Needed! 12 years, 7 months ago
Hi Shannon
I manage my two year old one bedroom apartment in Canberra. It’s sooo easy and I would recommend you do it rather than paying for a property manager. The only reasons why I would personally go with a PM is if:
– i had limited time;
– i bought interstate; or
– i rented a house with no strata/BC.I have been very lucky to date (touch…[Read more]
matthewp replied to the topic Central coast / Kincumber, NSW – any advice in the forum Help Needed! 12 years, 7 months ago
Yeah gosford has the infrastructure but it’s so disgusting (no better word). Plus I wanted something closer to terrigal and avoca. I would be buying a newer property, and renting it with a view to moving there in the next 8-10 years. I’m not really after capital growth as I wouldn’t sell. But the only thing concerning me is the opportunity cost of…[Read more]
matthewp replied to the topic Any experience with Gosford? in the forum General Property 12 years, 7 months ago
I was recently in gosford over the new year break and I must say it is disgusting! I would never ever want to live there again ( I lived in Gertrude st then hills st in those apartments at base of hill).. That was in 2004 and 2007 respectively. Back in 2007 it was going downhill, now it’s a ghost town and looks like its falling apart. If you buy,…[Read more]
matthewp replied to the topic property investment property and extra repayments in the forum Help Needed! 12 years, 7 months ago
coalstar wrote:
Catalyst wrote:
So you bought a property that will lose money so you don't have to pay so much tax? I know lots of people do it. It's called negative gearing but it's not for me. I like making money. The more you pay off the less tax you claim as a tax offset, but the more you pay off the less interest you pay. I'm hoping you…[Read more]matthewp replied to the topic Townhouse or Unit as first IP? in the forum Help Needed! 14 years, 1 month ago
Hey JoshI recently bought an investment property (a 1 bedroom apartment) about 6km from Canberra CBD.In terms of what is better as an IP, it depends on the market in the area you're looking at. I did a lot of research on my suburb before purchasing the apartment rather than a townhouse. A few reasons:- there is strong demand for apartment li…[Read more]
matthewp replied to the topic Lots of questions in the forum Help Needed! 14 years, 2 months ago
Hi
Thanks for your reply. Yes I got a depreciation report done. I probably won’t be able to claim a lot this yr given the tenants have just moved in a few days before end of June however I will be able to next yr.
Cheers
Matt