Gidday Will16
I have read Regina hoeppner’s reply and look at your request differently.
My inlaws are in this type of situation in South Australia. They are in a complex that provides accomodation for the “I can look after myself people” right down to the “I need constant care people”. Their structure is such that the unit they purchased has…[Read more]

Gidday philster,
I agree that if everything is done the right way then you should be fine.. To help clarify situations there are some good publications from the ATO. Check out “www.ato.gov.au” or call Publications Distribution Service on 1300 720 092 and if all else fails then call Personal Tax Infoline on their toll free number 13 28 61.
That…[Read more]

Hi there Fizman,

There is a lot of good information there and possibly you could fine tune it to your circumstance by utilizing your accountant. Write down all the suggestions and present them for another opinion. Your accountant should have a pretty good idea of what your situation is.
It is great to see that you are trying to remedy the…[Read more]

hi amitash
thoroughly recommend Wealth Guardian as a good starting point. it helped me immensely. then i went and talked to a good accountant and he helped to clarify things a bit more.
good luck
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hi
treat each IP as an individual/new case.
do your homework and if everything works out as it should, then why should the same location be a problem? if you have already bought here, then obviously you believed it was a good opportunity before. don’t discount another IP just because it is in the same location. I actually go looking for them!
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hi
expense is relative.
i wouldn’t be putting all my eggs in one basket – my opinion.
look at it this way:
5 houses @ $60K each returning $100/week = $500/wk
(if one is vacant, then income is still $400/wk)
1 house @ $300K returning ?/week
(if it is vacant, no income)
i tend to be conservative.
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hi daretotry
with respect to your third question – our closest IP is nearly 1600kms away and the others up to 3500kms away. We interviewed the rental property managers at several RE firms. We went with a list of questions such as:
how many properties do you manage?
do you have your own IPs?
what will you do for us that a property manager elsewhere…[Read more]

Hi,
For information on the location of regular Cashflow games around Australia, log on to http://www.apprenticemillionaire.com.au
and follow the prompts.
Hope you have fun, we played last night in Alice Springs!
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Hi there Steve,

As the demand will outstrip supply initially at your office a bit of a hand for your readers.
I recieved the latest Dymocks catalogue last Friday and your book was the first entry in their Non-Fiction section.

It will be available in store early August.

Regards,

Spider

Gidday tig1961,
We have over time known people that have lived and worked in the area. There is a high turn over with ongoing mine shutdowns and further developement in other areas. We have also watched with interest a number of properties come onto the market recently. There seems to be more since the SA government announced the possibility of…[Read more]

[] I understand what you mean.
Our computer broke down last week and we were without it for five days! Severe withdrawal symptoms for not accessing the forum!!![]

[]Hi Dave,
Don’t forget Alice Springs is still part of the Territory – we haven’t ceceeded yet!
There is someone doing wraps here – see them in the local paper, but have been there for a while. Drove past one and it was extremely basic (uninviting) and $285/week. Rental market is oversupplied at present in units and houses taking longer than…[Read more]

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Land scarcity is indeed a problem and one which will not improve.
Imagine living in an area where two or three houses are being built on a 1000sqm block because there simply is no more land available at the present time.
Being surrounded by pastoral leases and land under claim, land unavailability has sent prices up. The lowest priced house is…[Read more]

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My dad worked two jobs to be able to buy a house for his family way back in the 1950s and it was way out on the outskirts of the major city. What has changed?

The number of young adults not leaving the family nest (for many years) has increased, possibly something to do with property prices! This is an excellent opportunity to start buying a…[Read more]

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don’t forget sharing your profit with CGT!
good luck with renovating
[8D]

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I’m pretty sure that it has to have been rented/ earning income for you before you do any major repairs. We try to have a property earning income for 12 months before doing any major work. Check the ato site – it is good, and the free books available are great references!

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Checkout the comments at topic “Cronulla or Cairns” – this page

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You could put it in both names but specify 90% ownership to higher income earner and 10% for lower ( you can vary these percentages as you wish, it doesn’t have to be 50/50). This would help taxation deduction for higher income earner but still have both names on the title. At tax time the income/expenditure for the property is also split this…[Read more]

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Persistence is the key to success!
[8D]

[]hi matt
a good place to start might be to ask each real estate agents why this unit is for sale.
Have a look at the area :
* is there something undesirable happening close by
* is a major business/industry/employer closing and so tenants may be hard to find
* are the current tenants staying/extending their leases
* is there a problem with one of…[Read more]