Forum Replies Created
you can buy any kind of investment to loss money and lower your tax. then you will pay low tax !
take a extreme example, if you don't work (make money) then you don't have to pay tax !
Some people don't make any money, and just apply for society welfare !BUT why will you want to do that ? just like Terryw says buying a property for tax reason is not a good way to proceed.
Hi Cg,
Sorry to hear about your story,
I don't have a property for rent. sorry….But try gumtree.com.au, there are many private owners who want to rent our their properties without going through real estate agents, and if you can provide and prove your income and rental history. I am sure there is a property owner happy to rent out their place for a tenant who really taking care their property.
I really hope you find a place to live soon
Good luck !
Taylor
Hi Jason,
I think, first of all, you REALLY need to know what your goal is.
without a goal, it's very hard to help or comment on anything.
wether is buy a house or unit, i guess it's second question.for example a goal can be achieving $110,000 passive income in 20 years time, or own 10 properties in 10 years time. or even you just want to buy a house to live in and pay off your mortgage in next 10 years …….
once you have a goal
then it's easy to help you on how to achieve your goal wether is Auburn unit or Blacktown house…….etc…so I encourage you to explore yourself what you want to achieve.
Taylor
I guess you can have some kind of option for money partner to choose.
some people like % and some people like to have a certain fix amount.
So i guess is matter of negotiation.
I never really done any development before, but i guess if you give a option, more people will come to you then you can negotiate a better term and condition for the most suitable money partner.
I hope this gives some idea.
Hi
welcome to the forum !
I think you should speak to a finance broker to see how much you can borrow.
as Luke said stop paying money into the mortgage, instead put into offset account.Once you have idea how much can you borrow, then you can start to look for the property within the price range.
I think it's a starting point.
I hope this will help
Good luck : )
in general, the fee ( solicitor, stamp duty, …) is about 5 %-6% of the purchase price of the property . eg. property price 300,000 then 15,000 is the cost involved to purchase the property (5% *$300,000 = $15,000)
on the way out (selling property ) is about 3%, which is about 2%-2.5% agent fee + legal…. eg, sold price is 300,000 then $9,000 is the cost involving in the sale process ( 3%*300,000= 9,000)
you can do your own conveyening which i think you can purchase the convenyencing kit from internet ( just google" conveyencing kit") which can sale you maybe $500 to $1000 by DIY.
you can also advertising your property for sale yourself ( also google " sale property yourself" ) you can generally save about 2% by DIY.
of course you can also find the property with private owner wants to sale property themselves and negotiate it without agent's charge.
I hope this can help
Hi Kosta,
welcome to the forum : )
1.2 Million at age 30 is way ahead of many people already, congrat !
there is a option you can invest to have healthy cashflow position constantly.
you can put 1.2 million in the bank at interest rate 6%, you can have healthy can safety cashflow about 72,000 per year. which mean one of you don't have to work full time already.
Or
Keep working and purchase a few properties borrow against your 1.2m equity,
it's really depend how long you really want to stay in the workforce.
call up some builders to get some quotes, the quotes will be vary from builder to builder. when they are on site, they can give you better understanding.
sometimes build a duplex the risk is greater than the profit ( tradesman delay, weather delay, council delay……) just be awared of all the risks associated with anticipated profit.
good luck : )
From your story, I can still the agent is clearly very doggy to start with.
deceiful points,
1) the agent said this is owner's long term investment will not looking for sale
how can an agent know for sure ! (clearly it's a sale pitch to get you to sign up a lease contract)2)the agent said the owner wants to sell the property
if i was you, I will start to think about exit strategy to move on ( the agent clearly have no ethic to start with full of sale pitch, ie the agent just like money not provide the service)3)the agent said the new buyer is the owner occupier
I will clearly move on ( the agent is showing very clear, about his mind, which is only $ no service no integrity no honesty…..)my answer,
1)review your lease contract, 6 month or 12 month, ( organise and collect all the evidence or documents)
2)look for new property and MUST not be the same agent managing the property ! (ie property must be from different agency)
3)once you settle down, seeking for fair trading, or any sort of legal advice.
4) take any necessary legal action to pursuit your loss.I have to say there are many deceitful agents out there ! extremely doggy, never look after people, only think about money, never provide honest and quality service. disgraceful.
hope everything goes well for you
Hi Wilko,
Keep reading this forum.
don't rush yourself.
I personally believe property is a better option to make big money.
however, you really need to find the best strategy for your situation.
also be very careful there are a lot of spuikers and sharks out there !!!don't believe anyone, do your own number, only you understand yourself the best.
if someone's advice is not making sense, don't be afraid to walk away .
good luck
happy investing !If you want to lose money and a lot ot worry and sleepless night then go to property secret Paul Giezekamp will over charge you every thing he can !!
there are so many unhappy clients from property secrets !
They charge excessive fee and find some rubbish property for you to make you over capitalised !
plus once you go ahead with them, you will have a lot of worry and un-answered emails and questions…. you can never be more frustrated than deal with them !
My suggestion is if you want to have a successful property investing journey, don't go to property secret Paul Giezekamp will make you pay for his BMW !
