Hi there,
I have been visiting these boards for a few months now and have learnt so much from everyone, but now that my husband and I are getting closer to investing I thought i’d say hi.
I am 23 and hubby is 21. We have 4 young children, a small mortgage (well small for sydney), and $300K of equity in our PPOR. Our strategie is to start investing in CF+ or neutral property and have enough paid off in 20 years (maybe sooner) to retire.
I have been researching a lot on the net and reading, and have already learnt a lot more than i knew before, but like all beginners I do have a few questions which i hope someone can help me with.
1. We will probably be setting up a hybrid trust, depending on what our accountant says when we see him after xmas break, but will we be able to use our equity in our PPOR to borrow against. If not is there another alternative as we don’t have a cash deposit.
2. I have been looking into commercial property and would like to know others views on this. Area’s which I have looked in are Brisbane, 20 mins from Townsville, St Kilda, what sort of vacancy rates are we looking at, and is there a website where i can get data of commercial vacancy rates? Do you require a 30% deposit in all circumstances?
3. Do you have to pay GST on commercial property? Is it complicated or do you just pay 10% of the purchase price in GST?
This is my first post, and yes I don’t know much, so please be nice [blush2]
Amanda
Big A
Please excuse the strange spelling on some words but I am trying to avoid the green words so any relevant words I will mixed up the last two or three letters. Sorry but I refuse to have my posts look like I am advertising Steevs work.You borrwo againsts the equiyt in your hoem then lend it to your truts
You have to pay GST on any propetyr you buy from someone who is registered for GST. The good thing is if you byu a commercali propetyr and you are registered for GST you get 1/11th back if the seller is registered and didn’t use the margin scheme.
Julia Hartman
[email protected]
http://www.bantacs.com.auI have bought property using the going concern clause so no GST was paid on commercial.
Commercial property I believe, returns more overall and you aren’t often changing tenants.
Before you let your accountant talk you into anything, I would get a second opinion just in case. They aren’t always right.
Byronent
Adelaide SA
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