"Hi Parkes nsw has a lot of infrastructure coming up in the next couple of years, growth last year was 16%, does anyone know if parkes is a good market for investment in the future or has it had its run." previous Chooker post March 2008Hi Chooker, I have briefly looked at Parkes previously. Has it really risen that much in just a few months? Well…[Read more]

We are in a strong position financially so I don't really see how we could lose, but it a scary prospect all the same. I am only 25 years old so all this is fairly daunting for me.Just because you can afford to pay for it DOES NOT make it a good idea. Personally I dont think the return you have advised is very healthy, you will achieve higher by…[Read more]

I was informed during our build to sell that I was only able to claim deductions against the sale of the building (not including GST which can be claimed along the way).  We offset all interest, rates, insurances etc against sales price to determine our tax payable.mick

I was informed during our build to sell that I was only able to claim deductions against the sale of the building (not including GST which can be claimed along the way).  We offset all interest, rates, insurances etc against sales price to determine our tax payable.mick

Have you anything to prove that you made contact with the owners independant of the broker? In what context did you discuss with the broker? Was he aware of your previous conversation with the vendor?mick

Elka, You are quiet right, although I took it if they are building that they have already purchased the land. If so, then there is only a 6 month allowance for 2 places to be considered PPOR. If the building isnt completed in that time, then if the original PPOR has not been sold, a small proportion of CGT may be payable. Not to say it will, I…[Read more]

Hi Costa,Not quite sure why 15 yo data is relevant due diligence in todays market, but you could also try streetsales.com.au. You have to pay ($20 for 3 hours) and Vic data comes on line soon. NSW and QLD data certainly show the information that youhave requested, so I dont see why Vic data would be any different.Mick

Hi Nathen,The more professional version of Street sales is http://www.pdslive.com.au/pdsv3/appThat site has all owner details, searchable in fact. It is amazing what you can find. It is on par with RPData, Streetsales is more for those who only want to do basic searches. PDS offer a weeks free trial for PI investors/developers agents etc. For that…[Read more]

Hi Manyana,Only interest against the minimum balance owing is deductible. If you redraw for personal reasons (toys, PPOR) thatn interest agains that portion is not able to be claimed. If the purpose is for investment then it is.There are a few things to consider:1.Where are you living if you rent out PPOR whilst building? Additional cost2. What…[Read more]

Thank you for the reply WA,It seems not a common thing as I can find very little information out. Anybody else?Mick

Just a different POV to WA. Full time PI does not necessarily mean RETIRED. I live comfortably just investing. Yes I do have rentals, but I also do small subdivisions the provide balloon payments that I use to assist in pay ing down other debt with the goal of a few totally positve properties. I decided I didnt need the 300 properties, just a few…[Read more]

yet another first time poster defending something. I am surprised there wasnt a sales pitch in here as well.

For once, I have to say I totally agree with Scamp. This has happened alot. Not really against the law as the govt gets their extra stamp duty and taxes etc, but highly questionable.  Do you realise that you would be paying extra stamp duty for nothing? Oh, BTW it would be interesting to see what the tax office has to say about this when you…[Read more]

Compare the purchase price to the surrounding similar properties. Display homes are notorious for adding the rental component to the purchase price. Simple example, normal rental would be $400 per week, you are offered rent of $500 per week, wahoo says you, but in the background, $5K has been added to the purchase price. This instantly offsets the…[Read more]

Kaus,Dont fret about Scamps comments. He likes to be the big orge and scare monger everyone. Occasionally there is apoint hidden in the BS somewhere but …………….Well done on putting the question to the forum and I wish you well with the outcome.Mick

IMHO,if you are looking for a solution, that is an easy no thought required then go for your off the plan. If you are looking to be more active and expect more return in the long run then I would go the potential subdividable property. Of course it all comes down to :1. Why you want to do what you ant to do, and2. Running ALL the numbers in both…[Read more]

streetsales.com.au costs less than $20 for a 3 hour window. If you are organised you can accomplish alot of searches in 3 hours. Think of all the coffees you can buy with your savings mick

Hi M,Really, unless they are open for negotiation, there really isnt anything you can do. As there is no intrinsic "amount" finding a problem doesnt necessarily reduce the cost UNLESS the vendor is open to negotiation. You cant MAKE them consider your findings. You either agree with them or walk away. If it stays on the market, resubmit an offer…[Read more]

Why dont you just buy the place now and offer as a term of contract, a life lease. ie he can stay until he dies. Win for him – he gets the oney now and remains in his home. Win for you – you buy the property at todays rates and have a tennant  from the start.

Just did some googling and my additional query is does the Familt Retirement Fund still exist and is it appropriate for property investing?Mick