Terryw wrote:
Talk to a tax advisor about setting up a proper business structure. As you are self employed there are opportunities for you to 'share' your income with your spouse and reduce your income tax straight away. You could also set up a discretionary trust to purchase houses (forget hybrids). You won't need to worry about losses if you…[Read more]

Much appreciated mate, thanks very much.

Pardon what may seem like a pointless question, just trying to check my thoughts with people who are far more experienced than I…If I were to buy a property in Nowra, it would most likely end up being CF–, however I would be looking to make capital gains due to the projected expansion of the area (due to new infrastructure, etc.)?Does anyone…[Read more]

Dogs,Pardon me for being rude and I hope you don't mind me asking but I'm attempting to research areas for my first IP and was wondering how you gained access to statistics like rental yields and rate of population growth?

Looks like I'll be doing a bit more research, thanks again for saving the day JacM!

Out of curiousity, if I was to purchase a property with the eventual aim of developing it (in to either a duplex or two seperate houses) is there a rough guide for what land size I should be looking for? There seems to be a lot of properties in the Blacktown/Seven Hills area with land sizes around the high 500's (say 560-590m2).

That's a sound idea again JacM, and one I'll probably try and take advantage of. With the extra money I may be able to get that 3bed/corner block in Blacktown/Seven Hills a little bit sooner and maybe even get a mate or two to move in to help with repayments while I'm there!

That is quite an interesting change of laws, JacM. I think my general plan for now is to buy around the 200-250k mark and then after 2-3 years buy a bigger property with more land which I'll then develop. My reason for first buying at a lower mark is because it will allow me to get in to the market about 2 years sooner.I've currently got about 10k…[Read more]

Ah a very valid point JacM. I hadn't considered this aspect and I am a bit of a softy…They're currently undergoing a line duplication at Riverstone train station as as well as that it's about a 15 minute drive from Rouse Hill Town Centre (a new, huge shopping centre which is set to continue to expand and will hopefully one day have a metro rail…[Read more]

Thanks very much for the responses guys, I'll get to reading those books ASAP.@JacMI actually live quite close to Blacktown/Seven Hills so it would be advantageous to purchase a block around there just so I'd be able to better manage it myself.I was actually looking at trying to do a similar strategy in areas surrounding Mt Druitt (as I figure the…[Read more]