reddahaydn wrote:
Hey Guys,I'm looking at a major reno on  a one bedroom unit. I'm just wondering if anyone has done anything like this and some idea's on pricing and timelines?I'm thinkin this place will need to be gutted, new plaster, floor coverings, kitchen and bathroom and lighting.I will do painting and other odd's and ends. Is there any…[Read more]

Sounds a bit high for what you got.
We pay about the same – $1500
But in that, he is doing returns for 3 companies, 2 individuals, 4 IP’s.
To us he is worth every penny, very consultative when it comes to our property plans, and most creative when it comes to strategic money handling. This fin year alone, he has helped us achieve a 1% income tax…[Read more]

For $550K you could probably still find 3bed house townhouse in the western belt of Melbourne
Newport –> Spotswood –> Yarraville –> Brooklyn –>Seddon

Houses, Land, Good appreciation, low rental vacancies.

We are all for apartments, but for $500+ would be looking at either an old house on big land or new townhouse on smaller land.

Just an…

Just shared experiences sir.

1) One name is always simpler than 2. For us anyway.
2) CGT is applicable on all things sold, but CGT is calculated on the basis profit. With transfers, market value is difficult to ascertain, unless an official audit takes place with a standalone valuer. It is equally as easy to shop around for a valuer that values…[Read more]

propertymistro wrote:
Hi all,Great Forum! For a home loan, is it generally better to go with one of the big banks or with a building society/credit union?  Also, who generally are the most leanient lenders, in terms of the amount they will lend – big banks or building societies/big banks?Thanks in advance…

We have found pro’s and con’s with…[Read more]

MattG536 wrote:
Hi, I’m new here and to the concept of IP…I know my wife has asked a few questions also (Libra76)  Q1 – Is it better to buy an IP in both names or just in mine for the TAX advantage (hers is about 15% and mine is 38%) I know it seems like it would be better in mine only up until when we sell the property and capital gains tax w…[Read more]

the_kurniawans wrote:
Thank you PC_Melbourne. So your friend received no capital gain at all, even though I'm sure the rent should go up. Well, at least he's got neutral geared property, or a CF+ property?

Well I was really referring to the base price. With Stamps it would obviously be a tad more money.
I understand it rents for $200 PW
The…[Read more]

the_kurniawans wrote:
Hi PC_Melbourne,Which apartment did your friend own? You can message me personally if you hesitate to mention it in the forum.

Yeah, I found it. Called Unisity in Footscray Melbourne. i think it sits near a campus for Vic Uni.
I also looked at getting one of these, but when I saw how many were being advertised it scared…[Read more]

Dunno the formal name for it. Heres the link –

http://www.realestateview.com.au/portal/search?rm=search&P=1&ptr=r&con=S&portalview=residential&portalsection=buy&sub=footscray+VIC+3011,&sur=&prl=0&prh=0&pt=&bel=1&beh=1&bal=0&bah=0&view_alert_email=

Its the Grey Building with a Red Line Design through it on Gordon St in Footscray Melbourne..
By my…[Read more]

One of my colleagues has Student accommodation in Melbourne.
He paid 138k for it 2-3 years ago.
Today he can pick-up the same sized unit in the same building for $130K – 135K
It got cashflow positive fairly quick though, and he has no intention of selling it as yet, but its certainly not growing in value real quick.

We met with the last year also with the Melbourne office, and found that the fees were too high for the service provided.
Ended up doing all research, math and decisions ourselves. Much clearer for it.

PC_Melbourne wrote:

brisbaneJosh wrote:
Great comments PC_Melbourne.  Your approach seems pretty similar to the approach I would like to take!  Certainly a lot of good advice on this thread for Hendrick2.Good on you for giving it a go….Just a couple of quick questions if you don't mind!1) What level of deposit were you putting down for e…[Read more]

brisbaneJosh wrote:
Great comments PC_Melbourne.  Your approach seems pretty similar to the approach I would like to take!  Certainly a lot of good advice on this thread for Hendrick2.Good on you for giving it a go….Just a couple of quick questions if you don't mind!1) What level of deposit were you putting down for each?2) What finance s…[Read more]

Intrigue wrote:
PCMelbourne….. what is this PAYG Variation = 1% tax?

If you can forecast the expenses on your investment property portfolio then you can apply to the ATO for a PAYG variation.
For instance on our properties i listed all expenses, forecasted all negative gearing numbers + all depreciation for this financial year.
All numbers…[Read more]

Hello There,
This scenario happened to a friend of mine last month.
If your absolutely sure that he has no grounds to your house, then this is what she did to solve.
– Spoke to bank, found out about the Caveat, and was as suprised as you
– The bank advised her to to write a stat dec and submit to govt office (Sorry I cannot remember which office…[Read more]

Hello Hendrick2,
Replying a bit late, but I hope I can help. We were in your position in Feb of 2009. We had a whole bunch of money tucked away with the intention of doing something, but could never work out how because everything was all too hard. Below is our process:

0) Initially found Internet Listings & went to see properties for a month,…[Read more]

– Sell your PPOR so you get financial relief without paying CGT
– Work with another lender, non banks work well for not so strict valuations.
– Apply for the PAYG Variation to get more money in per pay. That always helps.

3321. I guess thats quite good.
Don’t believe it in the slightest though. With that much liquidity, i’m sure we would spend stupidly and squander it in a few years

We were in your position Feb of last year, and bought our first IP aswell. I had to research like a dog to understand what was happening.

Suggested Research & Reading
– Buy copies of API Magazine & YourInvestmentProperty Magazine. Motza pearls of wisdom there.
– Internet Lookups on getting finance in general are very helpful or ‘Finance…[Read more]

Is the house owned in both names or just one of you?

Financially speaking, if you both earn 40-50K per annum, that would be approx $90K PA, you should be able to afford another property.

We were in your position not so long ago. We have about the same income as you guys do, and are settling on our 4th property next month ish.. (Whenever it…[Read more]