Hi microchip78,

I think you are better off buying a block with plans and permits in place, it takes half the time to amend a permit( if you need to) than to  start from scratch! 
any subdivision over 2 lots will incur a public open space fee! Knox is set at 8%of the land value! whilst maroondah is 5% you will have to comply with all the…[Read more]

Hi Qlds007,

i am based  in the Yarra valley but work in lilydale! Melbourne CBD is about 1hour!

cheers

roxy

Thanks everyone, I am starting to understand a little bit more! Can anyone suggest someone I can meet with to go through the whole process with me? I am in the eastern suburbs of melbourne

thanks

roxy

Thanks terry and  qlds007,

yes, i do have a lot to learn and will seek professional advice,  can you  let me know how the offset account would work and can I access that money?  Let's assume I purchase a $500,000 property, we put in $1200 a month and we receive $1600 a month in rent, 

thanks for for being patient with a novice!!

also, can I…[Read more]

Hi terry, I was under the impression if I set the SMSF up with a legal interest and a beneficial interest , the beneficial interest would receive the rent or proceeds from a sale. What were your thoughts on  maximum borrowing or minimal borrowing?

thanks

roxy

thanks Jamie, i am now convinced i need to obtain a separate loan for each. i am so glad i asked the question and not just accepted what the broker has advised! roxy

thanks Jamie, i am now convinced i need to obtain a separate loan for each. i am so glad i asked the question and not just accepted what the broker has advised! roxy

thanks Shahin, i had a feeling this was the case! as i havent actually gone ahead with the loans as yet (we are in the process of signing contracts) i will be sure i have 2 separate loans! the properties we have purchased are purely for holding and renting but no other discussions have been had! They are around 20+ years old, 1 a four bedroom…[Read more]