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  • Profile photo of SUN2553SUN2553
    Participant
    @sun2553
    Join Date: 2009
    Post Count: 7

    Hi all,

    When I first opened this topic, I was shocked by a lot of negavie comments.  I'm glad I can see many positive ones I can share with now.

    I was not keen to go to Melbourne being away from home for three full days leaving our teenage sons and a dog.  Luckly we found the house was not trashed when we came home, just leaving three days of washing…

    I am very happy with the presentations and workshops.  Yes, the sales pitch was a bit too strong.  but we were not forced to purchase.  We had all rights to say yes or no.  We had a choice.  Actually we had a great opportunity to find what we can achieve by which product/support we could receive.  

    I was so impressed keynote speakers.  They were in absolute hardship and made themselves millionairs with their own strong will.   They believed themselves whatever other people said to them.   Not only they made millions but they are now helping others.  Just impressive.

    I also learned a lot about property investment strategies we could take.  Yes, we were like kids in front of cakes we had to chose.  

    We bought Aussie Rob's system and Carly's program.  Different people have different opinions.  Let's see how it goes.  I can tell you one year later about the products we bought.  They may work, may not work.  It's up to us. 

    I thought tickets were so cheap as I did not expect self-motivation aspect of the conference and this gave us a lot of courage and inspiration.  You imagine, if there's no marketing there, tickets to attend those seminars would have been so expensive.  

    Thank you so much Steve and all the people helped to run this conference.   We will see you next year.

    Let's try to make dreams come true.

     

    Profile photo of SUN2553SUN2553
    Participant
    @sun2553
    Join Date: 2009
    Post Count: 7

    Hi,

    I'm glad to hear Steve said it would not pop like US. 

    Sydney market seems to be so heated and we are having problems to buy any IP in Sydney.  We went to an auction in Leichhardt last weekend.  Price guide was between $550k to $600k.  The result was $720K!!!.  The identical house next door was sold at $630 a year ago.  Only difference is the one sold last year is beautifully renovated and the one sold last week end needs a lot of work to live in.  This means if the one sold last week was renovated, it would have been over $800k….  This is crazy. 

    Sydney seems to be in bubble.  Lots of auctions and if not they do not stay on the market long.  We are still keen to invest here in Sydney, not CBD but up to 25 km range.  But we are afraid we pay too much.  Should we wait for a while or should we get anything we can get or are we already missed out?

    Profile photo of SUN2553SUN2553
    Participant
    @sun2553
    Join Date: 2009
    Post Count: 7

    Hi Paul, Sonya,

    Thank you for your reply.  It seems IP among HC houses would give us a good cashflow.  Thank you again for your feedback. 

    The area we saw was quite good; reasonably close to the beach, shops and schools.  We are still concerned sale price in the future as we are not planning to keep it forever. 

    I'd appreciate if somebody has any idea how HC houses would affect capital appreciation conpared with non-HC housing area.

    Thanks.

     

    Profile photo of SUN2553SUN2553
    Participant
    @sun2553
    Join Date: 2009
    Post Count: 7

    Hi Qlds007,

    Thank you for your advice.  It seems if we buy, reno and sale using a company we may have to pay GST.    This means we may not be able to make any profit.

    I'm glad to know before jumping in this invetment plan.

    Thanks.

    Profile photo of SUN2553SUN2553
    Participant
    @sun2553
    Join Date: 2009
    Post Count: 7

    Hi Qlds007,

    Thank you for your reply.  I may not have been clear.   My main question is GST, not CGT capital gain tax. 

    So far, we bought investment properties (not many) to hold.  We have never tried buy, reno and sell. 

    My question is when you sell the property after reno, if you have to include GST in the sale price.  As we purchse a propery to sell in the near future, this is a business transaction.  In that case, I assume ATO expect to get GST. 

    Or I can simply ignore GST for this transaction……..

Viewing 5 posts - 1 through 5 (of 5 total)