Sonya – thanks, I did that last month in the value adding section… got nowhere with it!

Matt- thanks, already did, have had some message interaction. Cheers!

MrWinfield – it was an old thread I was hoping to breathe some life into, due to my own investigations into a burnt house as a reno deal… but the thread owner NBS hasn’t been around for most of this year… Hoping it may come back to life but its not looking promising!

ft – some recent articles in property magazines warn of the shortage of tradesmen and builders in Sth Hedland. Expect significantly higher build prices than what you may have seen elsewhere, and longer build times. Or consider a kit-home instead. Just something to consider in your due diligence, that build costs and timeframe will be higher + longer.

JackFlash wrote:

The sub contract thing is likely to be illegal under ATO rules (unless you do work for other design houses as well). Talk to an accountant about it.

Just curious, is your claim about it being likely illegal due to something about contractors only being able to receive 80% of their income from one company as a contractor? or…[Read more]

I have just requested a quote last week from a structural engineer for a 3 bedroom brick and tile house, built 1969. Issue is, this one is fire-damaged so I imagine his quote of $1495 + GST is higher than usual due to the fire damage and extra structural issues that come with that.

I am aiming to do turnover deals through value-add to build up a capital base, then invest in commercial real estate to provide passive income.

For an income of $100k p.a., and using average commercial yield around 8%, you’d need to have min $1.25mil cash to purchase commercial property.

that’s my strategy for now…

Jamie – u going to paint over the render?

Just out of interest, why did you choose to render then paint? My understanding is you can pay a little extra for a tinted render. Was this offered?

Notify the individual utilities of your residental posting address.

Someone mentioned above that if your Mum plans to stay in her house longterm, you will need to be able to afford to hold onto the property until such time as a development could begin. The house will need work to make it tenantable for now, by the sounds of it.

Without knowing the suburb or median rents, and to give a broad generalisation, its…[Read more]

Hi Billy,

My understanding is that you can only claim deductions on a property from the time it was advertised/available for rent. So if it is unrentable, it is possibly unable for deductions until the property is used for an income-producing purpose. I am unaware if there are different rules for rural properties, there are many knowledgable…[Read more]

I heard Aaron Sice speak at an APN (active property network) meeting a couple months ago. Haven’t done a development yet myself, but did send him an email with a query about a council area I was looking into.

From his presentation, Aaron came across as experienced, motivated, knowledgable, personable and all-round great guy. If I was looking at…[Read more]

So if I understand the above properly, then in very simplified terms:*a SMSF can purchase a property, and could be tenants in common with another party*however, the other parties on the title should not be related to trustee of SMSF (makes things difficult)*AND the other parties on the title can not have a mortgage over their share, but needs to b…[Read more]

Michael, Can a SMSF name go straight onto the tite? I recall reading something about SMSF investing in property through options or trusts or something more complex…Are you suggesting that rather than a straight out "cash" loan direct to me for use on the property, the SMSF could say go on the title as 20% owner and therefore allow funds to be…[Read more]

I decided to get a painter in to do the whole job, and get him to supply paint. We already did DIY bathroom + kitchen stripout, tile removal, and spending this weekend doing deck resurfacing and erecting a fence, plus after work today installing a cabinet and tomorrow ripping out carpet. so doing enough odd jobs ourselves to keep costs down. My…[Read more]

http://www.watoday.com.au/business/property/wa-property-market-finally-on-the-move-20110927-1kv51.html this article agrees with what your REAs were saying…

Hi Jazz

Requirements and definitions do vary a little from state to state I think, but all are clear that you can only apply once construction has completed, ie from May 2011. So I don’t think its relevant that he had no spouse when construction began… Its relevant he had a partner at time of construction completion, and some states define…[Read more]

so reading the below on the ATO website makes my proposal look somewhat difficult…

Restrictions

Super laws place restrictions on the types of entities your fund can invest in or with, and the entities that your fund can acquire assets from.
Investment restrictions exist because they protect fund members by making sure fund assets are not…[Read more]

Hi Jason,

Thanks for the tips, appreciate it. Don’t worry I know to do plenty research to find out the correct price for the property and certainly will take the listing agent’s comments with a grain of salt, was just putting it in for perspective.

Also aware that structural repairs and things like rewiring all add up and don’t add value, which…[Read more]

visited the LGA website:

Quote:
Rates are calculated by multiplying the Gross Rental Value (GRV) by the rate in the dollar. The GRV is an estimate of the rent a property could earn in a year. Effective from 1 July 2011, where a residential property is vacant, the GRV is calculated as 3% of the market value of the land. 

when visiting the…[Read more]

property in WA, so section 32 doesn't apply…but you guys got me thinking, the annual rates is usually a simple calculation of the council's set value for your property multiplied by a standard constant, right? so i could extrapolate that from the rates?PH – how would a REA respond to being asked for the recent council valuation on the property?…[Read more]