Thank you Terry and crj for the feedback, much appreciated!Ok, I need to learn more about trusts, entities and GST then meet with a good accountant…are there any good books I could read to familiarise myself with before I meet with an accountant?….or maybe other sources of info that will helpMy ultimate goal is to own a property portfolio…[Read more]

Thanks Terry…interesting I get to choose…nice!That being the case I think I would be far better off paying CGT vs developer tax rate of 30% plus the GSTAs an investor first and foremost buying IPs for the long term I also buy large lots with old houses on then then do the demolition, subdivision, build new houses, etc. I'm considering selling…[Read more]

Tremelo,Q1 Try this link, click on snapshotshttp://www.homepriceguide.com.au/Q2 Make contact with several REagencies in the particular area you are interested in, ask: How many properties they have on their books in the area.and then ask,How many of them are vacant at the moment.If they have let's say 100 properties in the area on their books and…[Read more]

Thanks Terryw,Hey do you know if Michael is a property investor?

JimmyJ wrote:
Does anyone know if this is the actual sale price?

Yes, I can confirm the price displayed is accurate I noticed a property I purchased in this section.Interestingly (to me anyway) I noticed the property was only displayed on the month of settlement and not the month when the contract became a binding contract. My point is that…[Read more]

doogs1357 wrote:
So if I'm making an annual reportable income from the profit from these projects will the bank take this income into account when assessing me for a loan?

 I think you need a track record of 2years to be recognized for Traditional funding

That's interesting…could you do some work experience with a conveyance firm?

Have a look on realestate.com.au Check rentals in your suburb look at similar properties to your, this will give you an idea of what the rental income is for the area. – then you will know approximately what to expect from a REagency rental appraisal.I use this method to monitor any rental movement in the suburbs I've invested in.

What type of default explanations are best used when applying for property finance?What works…what doesn't?

The defaults on my credit file where all paid in full about a year ago.3 defaults1. Bank credit card for about $15002.Telecommunications for just over $10003. One of those furniture store finance programs "Buy Now Pay Nothing For 12mths" for about $4000 – "come in sucker program".The problem with my recent ANZ application was when it was submitted…[Read more]

Interesting!!!…thanks to allExpat – I'm an Aussie citizen living and working overseas.$100K + genuine savings should suffice.95%LVR is great!!!….but experts say I can't obtain LMI because of defaults on my credit file. – 80%LVR is my maximumAre there many institutions that will do 80%LVR for vacant land?

Great advise bfantastic thanksAs an Expat it's a little harder to obtain finance that's why I'm considering the 4 major banks.At htis stage I'm just contemplating ideas, if I'm able to buy land-only at a 80%LVR I can afford a block of land at let's say $200K. Put down the $40K deposit plus costs then hold the property while saving funds for c…[Read more]

cheers mateDoes anyone know what the maximum land only LVR from one of the four major banks is? I tried searching on their websites but no luck there.Yeah great 80%LVR, I am interested to know which banks do this?

Hi Winner_1Sorry to hear about your misfortune, I'm also planning to build a house for the first time. I don't want to fall into any traps and I would like to avoid as many problems as possible.Can you please give some advise on what to watch out for when building?With your situation if you had your time again what would you do differently to av…[Read more]

As an Expat (non-resident) negative gearing, the annual deficit has nothing to offset so simply accumulates each year to be used in the future…"tax credits".You will need to find a 'specialised' taxation accountant, it took me 3 attempts.2 of the accountants I meet with were unfamiliar with "tax credits", the other accountant was familiar but…[Read more]

Thanks heaps for the contact Linar.This week currently organising to have a property valuation done, I gave the PM the heads up to schedule access for the valuer. Now several days have past and the valuer has been trying to contact the PM leaving messages with no response…???…what the hell???lol…this is amusing that I have to ask several tim…[Read more]

SC2007 wrote:
How can i find out vacancy rate in a particular area.Any advise?

Make contact with several REagencies in the particular area you are interested in, ask:How many properties they have on their books in the area.and then ask,How many of them are vacant at the moment.If they have let's say 100 properties in the area on their books…[Read more]

Hi Duckster,Thanks heaps for the link!I have looked at a few of these FCA and they all seem expensive. – might go for a offshore account, I need to do some more research.The main reason I need this FCA is to hold my salary GBP, then exchange to Aussie dollar when there is a good xe-rate, instead of whatever the bank is offering at the time.…[Read more]

Hi Linar,Yeah, I would definitely like to make contact with your friend's PM. – that would be great!The current PM that I am using is by default because the original PM I decided to use is no longer employed by the REagency.Thanks to all,best regards ToWhomItMayInterest

yeah I thought so just wasn't sure if it was me being a whinerthanks, I will try the letter approach.Does anyone have a PM that they would recommend for the suburbs north of Adelaide CBD?