nadaimee replied to the topic Strategy Advice in the forum Help Needed! 13 years, 11 months ago
Terryw wrote:
hi NadaimeeI think you may find SMSF can't do this sort of thing. Property held by a SMSF is unable to be developed or substantially renovated. Any profit would also be locked in the fund until you are able to retire or take a pension etc.The DT should be a good option and any land tax or negative cashflow initially shouldn't…[Read more]nadaimee replied to the topic Strategy Advice in the forum Help Needed! 13 years, 11 months ago
Terryw wrote:
Don't forget you cannot access the equity in a smsf owned property.For trusts there are basically 2 types units and discretionary. Trust Magic is a nice general intro, but it doesn't go into the topic in any depth. For that you will need the trust structure guide which costs a few hundred.Hi Terryw,Thanks for your reply to an…[Read more]
nadaimee replied to the topic Reno with clean hands in the forum Value Adding 13 years, 11 months ago
Catalyst wrote:
We do a lot at nights and weekends (besides our day jobs), We rip everything out ourselves. We paint, do kitchen tiling, put vanity, laundry etc in, rip out walls.Builder friend helps with new walls. After bathroom is prepared we pay for bathroom to be waterproofed and tiled (then we put in vanity etc) and kitchen installed and…[Read more]nadaimee replied to the topic Game plan needed for new investor in the forum Help Needed! 13 years, 11 months ago
James2118 wrote:
Hi Liv,I am in a similar position to you, trying to figure out how to make as much money as I can to try and set myself up for the future to hopefully have a comfortable and financially secure life. I have been looking a lot at the US property market due to the low level entry prices, as well as high rental yields and potential…[Read more]nadaimee replied to the topic Strategy Advice in the forum Help Needed! 13 years, 11 months ago
Jamie M wrote:
With buy-renovate-sell, you'll miss out on the 50% CGT concession if you sell within the first year. Also, if you turn over a few properties per year it could be viewed as business like activity.Also, the idea of buy-reno-sell sounds great – and it can be. But from experience, it's also a lot of hardwork. Especially when you're…[Read more]nadaimee replied to the topic Strategy Advice in the forum Help Needed! 13 years, 11 months ago
Hi Alistair,Thanks for the reply. As I am in a good position I am open to purchasing a number of properties to 'Reno-and-Hold' and then use the equity from the valuations post renovations. I have been reading about SMSF and trusts, but there seems to be a number of different trusts (family, property, unit) etc, etc. I don't know if these are the…[Read more]