Generally the only time that you can transfer between parties without payment of stamp duty is where you are getting married & splitting a premarriage asset or likewise for a divorce.

Can you talk to the solicitor noting it was a menage a trois?

Let’s be a little frivolous & adventurous – in light of the most recent corrections to the stockmarket, possibly consider a diverse portfolio of blue-chip stocks which will pay handsome dividends considering the p/e ratio will be favourabe for a while. Just for good measure, throw in some REITs with OS exposure to capitalise on the strengthening USD.

Obviously the vendor needed a good loss to offset against another cg. Must have been some serious motivation there for the vendor.

What does that indicate for the wider Cairns market.

If you are rendering the walls you do use a cheaper brick. Rendering doesn’t add much to your thermal mass. You’d be better off doing reverse b/v with the timber frame & blue board externally to knock out the heat.

You might consider coloured render so it doesn’t need painting.

If it is a new building then there may be a building defects/warranty period.

Not necessarily advocating slum city but well priced properties in better areas which can still be held for capital gains in the long term and reasonable but not brilliant rent returns.

I know some owners who are happy with only 60-70% of market rent but the level of maintainence is quite low. When the Properties come to rent there are queues of applicants.

Here’s the kicker, the area is zoned for townhouses and will be sold as a development site in years to come.

Tim, what do they say about fools & money?

Just because someone is an investor doesn’t make them any more astute than the next person. Most people are quite financially illiterate.

Don’t get me wrong, all agents should be trained to a higher standard not just those working with investors. The requirements for licensing is geared toward the lowest common denominator ie residential sales with scant regard paid to investment grade property (commercial, industrial, retail, hotel, special purpose etc) or to property management as a professional service.

yes & that is all the first pig paid, not much.

Lots of ‘not much’ adds up to quite a bit also may have a lower risk profile which suits piggy 1.

carefully look at how this is structured. If you buy in your own name, & live in it, then it is your ppor. If you buy in a trust, then you may be able to rent it to yourselves.

You don’t mention if you qualify for fhbg but be wary that you will be sharing it between all parties not getting 2 grants.

Great news for anyone who has or is considering acquisition of property in a smsf. The initial catch is not being able to borrow for the upgrading – this may stymie how you go about the works.