Canterbury has many gracious period style residences that are either exposed brick or weather -board.

If your new dwelling is in a mock period style, I'd say lay off the render. If it is modern or McMansion box style, you have the choice. I would look at the surrounding houses in your street and neighbouring streets and make your own mind up, based upon the streetscape.

Nor sure how far into the building process you are, however it is possible to have some exposed brick, some render and perhaps some feature stone, if the design allows for that. May give a more up-market feel to the finished product.

In Victoria it is permissable to sign "Billwha and/or nominee" and confirm the entity/owner prior to settlement. The Co and/or trust needs to exist prior to settlement. Not so sure about QLD. Seek legal and accounting advice…….and don't rush. There will be other sweet deals.

It is very expensive to undo "wrong ownership" and transfer after the event, by way of stamp duty and if further down the track with deemed CGT issues.

If this is your first property, I wouldn't be too fussed to purchase in complicated entities. If your brother is the only one securing the loan you might wish to investigate (with your solicitor)  buying as tenants in common with him having 99 % on title and you having 1 %. That way the majority of the loan is deductable against his income and he cannot sell without your OK. You may then want to sign an agreement or memorandum/contract that indicates how will split subsequent profits, and who will provide the work/sweat in the renovation you are planning.

Best to get it all in writing first and be advised by a Qld solicitor……….and hasten slowly.

Hi Mel,

Have sent you a PM.

Maybe they meant that the actual depreciation  schedule (and report) needs to be completed by the quanity surveyor by June 30. As I understand it, you can claim the past four years worth of depreciation (as long as you have owned the property during this period) retrospectively.

Agree whole-heartedly with Jon, JTW and Mick.

Scamp you are welcome to have an opinion and free to post it here, no matter how negative and pessimistic it is.

You are even free to criticise, attack and rebutt the opinion of others, HOWEVER, you are not welcome to be critical or to attack the people themselves as you did in your very first post and subsequent posts on this forum.

There are not many here with rose coloured glasses and I perosnally do not belong to the pollyana school either. However as well as having conservative LVR's and DSR's with a robust due diligence process to everything I buy or plan to eventually develop, I am positve about my future.

What exactly is your agenda by playing doom-sayer and preaching the "the sky is falling down" ?

Be careful the amount of negativity  and fear you harbour doesn't affect your health. What we continually focus on tends to manifest and expand in our life.

Please do not attack the people themselves. Being rude doesn't enhance the credibility of your views.

Isn't the power of synchronicity amazing, both Mike and Sandy with their query and GregA with his maiden post/response have joined on the same day (today). 

Please share the good fortune that they taught you Greg so that we may all learn and become financially secure just like you. We are all here to share the learning and would appreciate your further information.

H Mel,

At age 25 you have a great goal to "retire" or at least have more choices in your life by the time you're 35. Most people over-estimate what they can achieve in a year however they often under-estimate what can be achieved in a decade.

You have 10 years to live your plan.

First you need to decide "what you want". Quantify it. Is it  $ 100,000 net income per year, 200,000 or a million? Do you want $ 10 million of net assets, or some other figure. Where will you live? How will you spend your time, with whom? Often including others in your dreams and wishes gives more purpose to your vision and the impetus to follow thru on your plan.

Once you have established what you want and how much……. you need to work backwards and form a roadmap of how you will get there. You need a master plan and more manageable stepping stones (yearly and maybe six monthly). Will it involve passive investing (I note you have three properties from another thread you started) and funding purchases thru equity growth and your JOB. Or will you take a more active role, by adding value thru reno's and developing to manufacture/release more growth thru a higher and better use for the assets you own and will acquire.

It may be worthwhile thinking of adding other income streams such as shares (investing or trading) and/or some type of part time business.

I have proposed more questions than answers for you to ponder, but have found that unless you are clear on what you want and put a deadline on it, the discipline to follow thru may be lost. Goals are dreams with a deadline. Without some time frame and accountability along the way (milestones), dreams and wishes remain exactly that…..dreams and wishes.

You need knowledge (read as much as you can) and take informed action. Try and get around others who are where you want to go. Forums are great but a real life mentor who can challenge you and keep you accountable will hasten your journey.

Congratulations on your progress so far.

Hi Mel,

firstly congratulations on your progress to date.

Do not invest in property assets merely for the benefits of tax breaks and certainly do not rush to buy before June 30. No offence but your income is not that high (yet) at pushing such boundaries, and needing to rush. If you are able to deduct office expenses and there is a need then obviously make significant purchsases of these items before June 30 such as notebook computer, printers, etc. But do not rush for property purchases.

I am assuming by the above that you earn 75 K and that you have 10 K (?? in cash/savings). Some more info would be helpful in giving further suggestions.

How much net equity do you have to tap into?

How is your servicability to fund another purchase without it cramping/affecting your lifestyle?

Where are you thinking of purchasing and where are your current properties?

Finally, taking action is great, but…….HASTEN SLOWLY

Go to

http://www.ccorp.com.au

Email or give them a call.

In Victoria, stamp duty may be paid up to three months after settlement if purchase was cash (no borrowings). This is the only way I know of delaying the inevitable in this state.

If any one has any insights as to how to minimise it (and avoid it) legally, please let us all know.