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Viewing 8 posts - 61 through 68 (of 68 total)
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  • Profile photo of ShOw_Me_ThE_MoNeYShOw_Me_ThE_MoNeY
    Member
    @show_me_the_money
    Join Date: 2004
    Post Count: 80
    November 4, 2004 - 12:52 am

    Hi Guys,

    I am facing a similar problem like Derek. “I have some money and yet to lay my foot in the real estate market, Shall i go for a +Ve or -ve geared property?”

    Well i think that my 1st property should be -ve geared so as to claim some tax benefits, as am already in the high tax payer bracket. And perhaps i’ll look for my 2nd IP to be +ve geared.
    Kindly advise if am on the right track?

    Thanx

    Profile photo of ShOw_Me_ThE_MoNeYShOw_Me_ThE_MoNeY
    Member
    @show_me_the_money
    Join Date: 2004
    Post Count: 80
    November 4, 2004 - 12:46 am

    Hi Guys,

    Something that i am doing might help you….I realised the fact that not all of us are fortunate enough to have mentors in our desired field. Am coming from a NO NO Real Estate background, however listening to property sucess storeies of people around me, i have made up my mind, decided what i want and spending time on these forums and reading other info from other real estate magasines, suerly helps me weigh my decisions against all odds. Basically if u have the will…. U’ll have the way….

    Wish u luck

    :p

    Profile photo of ShOw_Me_ThE_MoNeYShOw_Me_ThE_MoNeY
    Member
    @show_me_the_money
    Join Date: 2004
    Post Count: 80
    October 27, 2004 - 6:27 am

    Hi MLV,

    the rate of CGT depends on how have u structured your IP’s. have a look at CGT on the ATO website.

    Cheers

    Profile photo of ShOw_Me_ThE_MoNeYShOw_Me_ThE_MoNeY
    Member
    @show_me_the_money
    Join Date: 2004
    Post Count: 80
    October 19, 2004 - 1:27 am

    Getting started into the property matket is a good step.

    You need to do good research in terms of:
    1. What u wanna buy (IP or Home to Live), & what price are u willing to pay and loan.
    2. Do a through research with the estate agents, council, once u have decided the property, try to find comparable sales figures so that u have a fair bit of idea of what the property is worth.

    I’d say these are the first 2 steps and later on you have to decide on a negotiation strategy…. like how to approach the seller, how to approach banks and so on….. Have a look around and wish u luck…

    Profile photo of ShOw_Me_ThE_MoNeYShOw_Me_ThE_MoNeY
    Member
    @show_me_the_money
    Join Date: 2004
    Post Count: 80
    October 19, 2004 - 1:11 am

    Hey… This is another one that i find usefull….
    http://www.quartile.com.au/property_optimizer2004.htm

    Profile photo of ShOw_Me_ThE_MoNeYShOw_Me_ThE_MoNeY
    Member
    @show_me_the_money
    Join Date: 2004
    Post Count: 80
    October 19, 2004 - 1:05 am

    Thanx G7. This suerly does help me and will keep in mind on how to handle the Coincil Heroes ;-)

    Profile photo of ShOw_Me_ThE_MoNeYShOw_Me_ThE_MoNeY
    Member
    @show_me_the_money
    Join Date: 2004
    Post Count: 80
    October 18, 2004 - 2:53 am

    Hi Guys,
    I have a similar question, as to what factors does the Council take into account for approving a building permit. I am thinking of buying a house in a big block, and then get some building permits approved to build 2-3 houses on that land. Before i buy, how can i know that the council would approve my permits later on?

    Thanx Guys!

    Profile photo of ShOw_Me_ThE_MoNeYShOw_Me_ThE_MoNeY
    Member
    @show_me_the_money
    Join Date: 2004
    Post Count: 80
    October 15, 2004 - 5:00 am

    Yep… Have been thinkin on this issue for long and am glad for your quick response. Am a bit more inclined towards IP, hopin to get some tax benefits + property value grows in time.
    By the way, for a IP, other then depriciation, what %age of rebate ie. taxable income can u claim off ur loan payments?

Viewing 8 posts - 61 through 68 (of 68 total)
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