If its a brand new apartment or close to your depreciation might be a lot higher.

You  have a positive cash flow of $300 ish a month and whilst this is a good result. With depreciation, insurance, your previously stated bills, driving costs to visit your property, advertising for Tennant, any allowances for repairs and maintenance you properly will receive some tax offsets from the depreciation, should at least be 2.5 percent…[Read more]

The only word of warning is that the asbestos roof has to actually deteriorate whilst you own the property.
So you couldn't buy a home that needed the asbestos repaired at the point of sale.

I think asbestos roofes have a instant tax writeoff available for them. 
look at the linked api article.

http://www.apimagazine.com.au/api-online/news/2012/09/government-takes-action-on-removing-asbestos-from-houses

I have RP data full service. yearly is about $800. Worth every Penny. Can let you know a guy that does it for that if you want.

Did you read what you were covered for in the fine print?
Alot of people in the brisbane floods were covered by flood damage. But being covered by flood damage was reneged later in fine print of the contract which said that if the home was within 500m of a river prone to flooding and it wasnt covered.
My partner works in insurance broking and I…[Read more]

How about a commercial property that has 6 retail shop fronts with 6 individual tenancies.
your insurance protects damage to the building from fire etc 
also protects from a loss of rent and damage by tenants. 
Commerical properties have longer leases then residential. Outgoings are paid for by tenants rather then the owner in the case of…[Read more]

sell the family home
buy another house for 500k
go buy a commercial property for 1.5 mil yielding at least 10 percent
ensure you get insurance
150k pa

This is pretty complex legal information that you need to speak to a paid professional about about.
But as a general rule If you want to claim the property interest as a loss against  your income purchasing in your own name is a lot easier then the alternative.

If you don't already have a job. Get a job and start saving for that first deposit. The more capital/cash you have to begin with quicker youll progress in my opinion. Thats practical advice.

Grant can you list some actual ATO cases of that happening.
Because i cannot think or find any on the above scenario.
I think the ATO would have a very difficult case to prove that If a person still worked a normal job and derived their income from their profession that they are in the business of renovating.. their own PPOR.
People have to live…[Read more]

Agreed!
wish i started with that much potential.

Most important think for you to do is learn knowledge about everything to do with property.
If you gave that start to some of the members on this website some would make a 5% return some would find 10% returns and some could double or triple that equity in a year whilst adding cash flow as well and…[Read more]

Sounds like he is doing this refinance to  UNCross-Collaterilise his loans.
You said that his loans are Originally 

"He currently has 3 investment properties.  Property 1 has a single loan attached to it.  Property 2 was financed with two loans, the first secured to property 1 and the second loan secured to the actual property.  Property 3 is…[Read more]

For $2 you could buy a cheese burger at your local Maccas. Reckon that's your best bet here

So its current value is 135k after you have had it valued by the banks valuer? (no growth on your sale price).

Put the property up for sale and if you get genuine offers at the 160-165k. Sell the property. $80 to hold per week on a 135k property is alot. I pay $70 dollars for some properties worth $400,000.

If you don't get genuine offers at…[Read more]

1Km away…

Are  you planning to put services onto this block.
Is it just one block or a huge vacant block with potential for subdivision.

Youd be looking at 100,000s to get services connected.
I can tell you that power companies charge anywhere from 10k-30k per power pole. there would be a couple of them over a KM at least.

Water companies can…[Read more]

unless you are applying independently for a FHOG or something. then the FHOG people will want you to show a copy of the certificate of title with you name on it (as i said before takes 3-4 weeks after you settle)

Contract of sale is all you will and need at this stage.

If you have a bank loan on the property you will not every get your certificate of title till you have paid off your loan. It stays in the Banks Vault, because its the proof of ownership. if your block of land is worth 200k You could say its a 200k piece of paper. They keep electronic records now of all titles as a back up. 
2-3 days before you…[Read more]

yes your bank will be on your certificate of title. it will be under a heading called Mortgagee. Basically to prevent you from selling the property without the banks authority or finding out.