So who deems “market value”? Is it a bank valuation for first mortgage purposes, sales appraisal?? If bank valuation, it will obviously be a lower figure than a sales appraisal.

James

The Big Shift (2nd Edition) – Welcome to the Third Australia Culture
(The Bernard Salt Report)- Bernard Salt

Not sure if this has been previoulsy posted here, but for additional information about changing demographics across Australia, identifying areas of growth/deline and other cultural changes which are relevant to property investment &…[Read more]

Any way to claim back GST on new residential property?

James

Abundance,
I visited the Gold Coast last year for the first time, and whilst there, I was looking at short-stay/holiday properties.
After looking at the figures behind a few of these investments, they were marginally better than your normal rental situation. However, I believe you are investing not only in the location but also in the skills of…[Read more]

Ben,
I haven’t personally been to Steve’s seminars however my only advice, is after finding as much as you can from other sources as well, make sure you put it into practice. The only way you will have flushed the $990 down the toilet is doing nothing.

Investing isn’t rocket science, you will pick it up quickly.

I would be interested in your…[Read more]

That is incorrect advice. As a rule of thumb banks will consider
1. 80% of your rental income
2. 30% of your gross salary
3. 50% of other investment income

The 80% is taking into consideration costs and vacancy.

Each bank/financial institution will vary, however that should provide an intial estimate of your income that the banks will take into…[Read more]

Dragons_1908
Rent per week * 52 = Gross Annual Rental Income
GARI/Property Valuation (or Purchase price) = Rental Yield

For example – Property valued at $350,000 renting at $350 per week
GARI = 350 * 52= $18200
18,200/350,000 = 5.2%

Therefore the above property has a gross rental yield of 5.2%
(Obvioulsy costs are excluded)
James

So on newly built property, is there any way one can claim back the GST you pay on the construction portion.

James