proprookie

proprookie replied to the topic Buying PPOR with tenants – can it be IP for a few weeks? in the forum Help Needed! 11 years, 4 months ago

Terry, for CGT purposes can we choose between "% of time as IP" vs cost-base before it changed to a PPOR? The tenants will be moving out in 2 weeks so in total it would have been rented out for 4 weeks (2 in the last financial year). The property will be my PPOR for at least a year (FHOG and WA grant requirements) after then I'll move out and make…[Read more]

proprookie replied to the topic Buying off the plan in the forum Help Needed! 11 years, 5 months ago

Can't you use a Handover Inspection for that?

proprookie replied to the topic Ways to confirm that your offers have been passed to the vendor? in the forum Help Needed! 11 years, 5 months ago

+1

Even a 12-hour clause is fine when you sense that your competition will be busy with DD. I know cause I lost to one Several weeks later, that property is back on market. Me calls agent to check – the competition couldn't get finance. Luckily, I found a better one

proprookie replied to the topic Need Recommendations in Perth in the forum Help Needed! 11 years, 5 months ago

Replying to my own thread.

I've some feedback to share.

1) Pest Inspection – Pesti Pest Control, used him twice. Does an excellent job, also skilled with general building condition advice. Recommended.
2) Building Inspection – Used Archicentre on one and Resicert on another. Similarly priced pre-purchase inspections. Both of them are fairly…[Read more]

proprookie replied to the topic First Home/Investment in the forum Help Needed! 11 years, 10 months ago

Thanks for that, Shahin. I'll start searching for a good Conveyancer. and a building inspector so that when I do find something I like, I can move fast.

I heard that, I can actually setup the finance all-ready to go even before I find a place? Will such a thing, if it's true, reduce the final processing time?

Nigel, I agree with you. I am still…[Read more]

proprookie replied to the topic First Home/Investment in the forum Help Needed! 11 years, 10 months ago

Thanks for the all information, guys.

I need to start work on an execution plan for my strategy. First step would to be build a team. I understand that one needs the following professionals for things to go smooth.
1) Conveyancer – Helps with the buying process. Do I need a solicitor for standard home purchases?
2) Finance Broker – Takes care of…[Read more]

proprookie replied to the topic First Home/Investment in the forum Help Needed! 11 years, 10 months ago

Thanks Shahin and Jamie. Your advice is invaluable.

I was reading an article that said 83% of investors only have 2 IPs and ~13% only 2-4 IPs. You guys got me thinking, I need to plan for the first 5 properties. Like most things in life, it wouldn't go as planned but better plan rather than get stuck.

Let's assume that I get my first one for…[Read more]