NM7 wrote:
Hi Folks,

While we are on the topic of good accountants – just a quick question as to their charging mechanism. Do you folks get charged higher for having more IPs or does your accountant provide a flat fee structure provided you have set item of works required? If you don’t mind – what sort of rates are you folks paying and how…[Read more]

Hi Elisey,

I’ve used Matt Toohey in Drumoyne/Norwest for years now. He took over from his father a few years ago. I initially used him for small business tax and now I’ve got him onborad with my IP. http://www.tooheyassociates.com.au

I’m also currently starting out but in NSW. I’m already using my normal accountant as he is very good I’ve had him for years. He was referred to me by a friend for business tax and for getting out of potential tax trouble. My solicitor/conveyancer was referred to me by my sister who used him 3 years ago when she had some trouble with her PPOR…[Read more]

Not exactly sure about Bowen Basin. I try to stay away from the hyped up areas. Diversity in industry is the best defence against getting stuck having to rely soley on mining for the long-term atleast. One thing to consider is that lenders are generally weary of studio & 1 br properties.

Well to start investing you should budget between 10-15% of the cost of the property. 10% for the deposit and the other 5% for costs. If you have more than the minimum required deposit you can play around with LVR to reduce your LMI. It’s not easy saving but having a steady job and remaining focussed will help.

I’m also tossing up between a solicitor and conveyancer but in Sydney. I think I’ll go with a conveyancer. Just ask around and you should get some good recommendations. I got recommended to a conveyancing company from my accountant.

JustAllan wrote:
Yes – Aberglasslyn – that’s what I meant by Rutherford. I always forget it has a different name, because Aberglasslyn was once just a few farms and a dirt road. McKeachies run is new as well, but seems a little more expensive than Aberglasslyn. (Although I haven’t looked in detail. It’s just a personal conclusion drawn from…[Read more]

I went to Aussie yesterday to see about getting finance also for my first IP. I spent 2 hours there and not once did the lady say anything about clauses or anything like that. I still have to go back with payslips and things before I can get pre-approval so they might go over it then. But I have to say they were so helpful and informative. All…[Read more]

JustAllan wrote:
The area south of Charlestown (Windale) has a large proportion of government housing tenants. The NSW Gov. has been selling them off for several years, but the area will take decades (if ever) to improve. i.e. If your neighbour is a drug-using, wife-slugging, foul mouth with a dog that never shuts up, children that always have…[Read more]

grantos_champos wrote:
Why not an older style home in the hunter, something you can add value to. Sure theres plenty of miners on big bucks who want to live in brand new homes but there are still people who don't work in the mining industry who have to live somewhere too.

I thought about that but I’m not really the handy type. And I don’t…[Read more]

JacM wrote:
I think it would be a good idea to view depreciation as a "bonus" as opposed to a reason for investing.  What would it do to your financial position if 6months after making your purchase, the government suddenly stripped investors of the right to claim depreciation?  Better that the property can stand strong even without de…[Read more]