Balmain. 100%.

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]

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]

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
Matt

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]

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]

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]

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]

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]

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