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I might get on this bandwagon and ask for some help too if i can. I’m trying to get my first IP soon, macquarie have asked me the fowlloing questions i am not sure if i’ve answered correctl.
3) regarding your preferred loan structure:
a) did you prefer 2 separate loans? Yes
b) for the loan increase to the current property – if you choose 2 loans, would you like that loan split in to 2 to reflect the current loan being refinanced and the extra borrowings for the purchase?I would like to use the equity in my existing property (80% would be about 240,000k)
I will need to access the equity as a separate loan split under the same security to maximize tax deductibility and to make it easy for my accountant to work out what those figures are come tax time.c) if you prefer just the one loan – would you like 3 splits to
reflect:
i) the current loan being refinanced
ii) the increase to the current loan (for the property being
purchased?)
iii) the other part of the loan for the new property being
purchasedExcellent thank you, I had 35k down just to be safe.
Now to find something!
I’ve changed my tune, the list is now;
Armadale
High Wycombe
Thornlie
Koondoola
Mirrabooka
Girrawheen
Beechboro
GosnellsNow the hardest part, finding ‘the one’. I want something that i can subdivide in the near future.
Hi Kate,
Are you thinking unit, townhouse or house?
According to Rory O'Rourke the best places to invest in Perth for 2014 are;
South Perth
Como
Maylands
East Perth
Scarborough
Mosman Park
Trigg
City Beach
Floreat
Doubleview
Karrinyup
http://spionline.com.au/blog/latest-blogs/12717-top-10-perth-suburbs-for-2014
Now that we are well and truly into the new year, has anyone made some successful offers?
Hi there, I too am after a pest& building Inspection company, did you end up finding a good one?
Hi there, would love to see the list, tried to PM you but it said "wisepearl is not accepting e-mails."
Thanks
Well there you go…I find that fascinating that when you borrow money from a bank its a prerequisite to get these reports done but when they sell they change the rules (sort of)
Oh well you learn something new everyday!
The agent called today and said the property went for over $500k which he said was even a suprise to him. There was no way i could compete with that and i'd prefer hearing that than losing a house for a couple of grand.
Put in 480k, as soon as i said subject to the sale of my house the agent made it very obvious I didn't stand a chance. He also said there would be no counter offers because the owners expectations had already been exceeded by the other offers.
SUCKS!
It's a suburb where there are 500k houses and 1.5 million dollar houses (depending how close you are to the ocean). Where this houses is there are ocean glimses. It's an old but in good condtion 3×1 on a 680sqm block.
According to realestate.com.au these are the annual average house prices of this suburb for the past 5 years.
2007 $624,500 16.7%
2008 $617,500 -1.1%
2009 $545,000 -11.7%
2010 $605,000 11.0%
2011 $612,500 1.2%Thanks for your feedback everyone, any thoughts from others?
Turns out this is the cheapest fee schedule i can find….anyone got any recommendations for a Perth NOR property manager that charges more like what people get over east in melb etc? I am starting to think i should do this myself but have no idea where to start, seems a lot of paper work (initially anyways)…
I can't find a property manager under 9.35% in Perth so for you to just pay $15 a week is worth the peace of mind in my opinion, in saying that, it would be a good experience for you to manage yourself especially if they are good easy going tenants.
Kevin gives with one hand and takes with the other, I hope most aussies will see this and think wisely before re-electing him come election day.
"Don't blame me. I voted Liberal".
Thank you, that is some very valuable and appreciated information.
You may find a quantity surveyor may be useful in working out what you can depreciate.
You are paying $400 more a month than is required so my question is are you likely to be renting out the place for more than 12 months and are you planning on buying more investment properties later down the track ? Would love to, that is a definite goal of mine since I bought my first house 3.5 years ago.
If yes you may find an offset account better as it gives you flexibility later if you need cash for a deposit on another property.I do have $15k up my sleeve to do this but that would probably just cover stamp duty for something around the price I could afford.
Also – if the rent just covers the mortgage you will have negative gearing due to the expenses also being claimable.
Things like council rates, landlords insurance, water rates and interest charges are claimable.
So total income = rental income – (council rates +landlords insurance + water rates +mortgage insurance + depreciation)
so this will most likely equal a negative number
(which reduces taxable income giving you a small refund at tax return time)
Sweet, have rented out once before but that was only for 6 months and i didn't really know what i was doing.
Also you may wish to nominate this PPOR to be your PPOR even though you are renting it out for up to six years to avoid any future capital gains tax. You just can't claim PPOR exemption on two properties at the same time.Ok thats something new to me that i hadnt thought about, i will wait to see what you say to Burnie about this.
The paving and new carpet would be an improvement most likely and only depreciation could be claimed on them..
Cheers, i thought i might be able to claim ‘wear + tear’ on carpet but if it’s a 12 months lease i'd imagine this may look suspect.
crashy wrote:Phorsha wrote:I made my dad call so I could get the discountlol…..so its OK if you defraud others, but if they do it to you, you have a big whine?
5% man….If he does 5 jobs a day each at $88 bucks a pop he will take home $2200 pw, I don’t think me getting a 5% discount is going to put him in any financial trouble. It’s not like I’m taking a gold coin donation from a blind man people!
And as for the moisture test ‘Tools’, you can grab one for cheap (or not) at bunnings but like all large renos – best seek 'professional' help.
anywho thats my last say in this post.
diclem wrote:Hi Phorsha,
Did the plumber give you the answer you were looking for? Or give you advice to fix your problem?
Did you ask your dad to ask what the estimated cost would be before he came out?
If you knew the price, and I imagine you did as you wanted a discount, then why does it matter how long it took?
If you didn't get the service you were looking for that is another matter.By the way, the last paragraph of your post screams volumes about your attitude to tradies, and they can sense that from a mile off!
I was happy with the service ! I never spoke down to him and considering how many tradies have tried to pull a swifty on me i think im more than decent to them. All i mean is, at the end of the day I believe its a rip off and that’s obviously due to the skills shortage and the job has to be done so you pay it and move on with life. If i was like an IT techi, I personally could not go to someone’s house 5 mins away, do a virus scan and say its OK and charge $88, I would not sleep at night.
And i don’t think they can 'sense' my attitude because there isn’t one until they leave and i pay the bill. Having an attitude wont make them work any better or faster.
