I have used Washington Brown. They are located in almost every state. H/O is in Sydney. I used them in Melbroune.

http://www.washingtonbrown.com.au

James

I have paid $600 plus GST in Melbourne. Just recently I have paid $300 plus GST in Qld (on the Gold Coast).

James

Noam,

If I was thinking of buying, I would be looking at it this way. (I realise that it won’t be ready until 2006)

That is approximately $5460 per square metre. That is defiitely on the high side.

Rent for 1br plus study are probably around $320-$330. Don’t forget 10% vacancy rates so, one would probably need to provide some financial…[Read more]

One Lesson Learnt from this story that I don’t think has been mentioned is, this is another excellent reason for having a mortgage broker organise your finance. They get to see the valuation and can at least flag where there is such disparity between valuation and contract price.

Many banks now even officially notify you where there is a…[Read more]

You’d have to ‘do the numbers’. If the property is right, then you should try and make it work.

Speak to one of the motgage brokers to run some numbers for you quickly to establish where you may or may not be. At least that will tell you what the banks think. Then you can decide if you are comfortable with that level of financial commitment.

James

Definitely increase size of room. 3 x 3 would be minimum in my view.

Not sure whether this is 2nd bedroom. If you are renting out to 2 people (not involved), the second bedroom still needs to be big enough for someone to ‘retreat’.

As long as meals area sufficent and kitchen functional for use, minimal is better.

James

Nathan210,

I agree with your calculations. Make sure you include depreciation as a deduction as well.

James

Ozboy,

To qualify for a deposit bond you need at least 5 x the amount of equity to the deposit bond you are applying for.

Do you have the finances to purchase the 6? If not, applications for deposit bonds are almost defacto loan applications.

Even if you went to 6 different companies for deposit bonds, they all mark your credit history, so you…[Read more]

From the sounds of the work you are considering, this is probably an improvement, which would not be deductible under current legislation.

Your ability to claim this would be to get a tax depreciation schedule completed, which will take into account the work completed and maybe capture it under the Low-Value Pool arrangements.

James

I would think about it in this way. If you were to retire/resign from your wrok today, what would be your disposable income be.

If you have investments in general that you are living off the passive income, its like you are running a small business. Therefore, it has to be revenue minus expenses.

In your example, this would be $1000

James

Brekingout,

Just bear in mind that body corporate rates will increase. Not forgetting the reqirement for a sinking fund.

So if you think it is expensive now, it will only grow.

If the complex is new, many of the areas that would need maintenance are under warranty eg lifts. After the 1st 12 months, you start paying, which therefore increases…[Read more]

Cia,

My understanding of a hybrid discretionary trust is that you purchase units in the trust. The consideration for this is money that you have or borrowed funds. Not sure for a standard discretionary trust.

James

The greater the land component (all other things being equal) the greater the capital appreciation.

As a general rule, house prices are higher than units. The lower price points of units may be of advantage to you.

Units are not to be confused with apartments.

Maintenance is not intrinsically higher on units, it will depend on the age,…[Read more]

SIS,

I believe there is a case in the Federal Court which is still determining the validity of whether you can claim the capitalised interest. The waters are still murky.

James

Hi cromie2,
Welcome to the forum.

In the interim, there is nothing wrong with renting it out and then trying to sell it. It may give you some time to re-assess whether it is the right thing to sell without burdening the mortgage without assistance from your tenants. Unless the price is unrealistically high, then again, if you don’t need to sell,…[Read more]

Madankumars,

What sort of rental guarantee are they providing? I know the area quite well, as I live in the area. I also own an apartment in Sth melbourne close by so I am well-versed in both rentals and re-sale values.

What is the size of the apartment?
Car park?
Body corporate?

Some background information. they have been selling/marketing…[Read more]

Yes, he did need the money to build. He had a few projects on the go, but knows that this is one he definitely wanted to do. For similar reasons why I wanted to buy.

My only point was to highlight that you can in fact by below what you might consider fair market value. Maybe I was lucky….who knows. But more to the point, I had made the…[Read more]

Ok, without sounding like a re-incarnation of Henry Kaye, it can be done and I will give you my example.

Through contacts in REI (inner Melbourne suburbs), a reputable builder had land and plans for a small 5 dwelling development. I did the requisite due diligence on his previous work, the architects that he used (ie previous projects),…[Read more]

In that case, why don’t you determine a specific $ figure for payments you would be happy or comfortable with…that will dictate a maximum level of borrowing….That will give you your deposit required.

James

Why did the chicken cross the road?

To go the the internet cafe, log as an Chan, and make a few more posts on http://www.propertyinvesting.com

[biggrin][wink]

James