Recent content by menty

  1. M

    Paying IP costs on credit card

    Nope. None of the CC debt is paid off with investment/ LOC money. Is the purchase for investment (say an oven), still tax deductible?
  2. M

    Paying IP costs on credit card

    Does it make any difference if a credit card is used , but no interest is being paid ? (full amount paid at end of month) This credit card however was used to purchase products for renovation and also normal expenses/ everyday use.
  3. M

    Reno cost advice?

    Prices seem a little low?
  4. M

    Build granny flat or by new property

    This question has been discussed a few times in this forum. Currently the Sydney market is a little hot at the moment and although Id like to buy another property Im not sure its the right time now. I am chasing capital growth, however do like the security of a good yield. If I buy another...
  5. M

    Renovation before property is tenanted

    This is more along the lines of capital works. Anyway, another situation, if the previous owner did renovations already , how worthwhile would it be to order a new depriciation schedule.
  6. M

    Renovation before property is tenanted

    I have just settled on a property (4BR house) for 440K and have been doing some renovations to it New paint Floorboards to kitchen and dining New kitchen Some exterior work All up this is costing my about 20K. It should rent for about 400 per week unrenovated and 450-460 per week...
  7. M

    Illawarra region for CG

    Iv been looking at a few properties around shellharbour and oak flats which are close to the beach/water. The marina is due to be completed also What's everyone's thoughts on the region. There's been a few new developments around shell cove and there's even a sign for shell heights also now...
  8. M

    When to register for land tax?

    I currently have one IP which was my PPOR, but has been rented out for 2-3 years now. I have never registered for land tax as I had been under the threshold. I will be acquiring a second property which settles next week. When should I register for land tax as I think both these properties...
  9. M

    FHOG/CGT question.

    She's just decided to live in it for 6 months then rent it out to boarders. I believe this satisfies the FHOG and main residence exmption.
  10. M

    FHOG/CGT question.

    I have a friend who has currently bought a new 4BR property using her FHOG as PPOR. Market rent is about $440 per week. She will be renting out the other 3 rooms. The boarders will be living there one or two days a week. (however are willing to pay a whole weeks worth of rent to secure that...
  11. M

    Tax deduction for Repairs/ inspections of a purchased IP

    Hi all I'm just wanting to clarify whether the following is tax deductible prior to the purchase of an IP - Building and pest reports - Lawyer fees - Stamp duty - Repairs/ improvements before the property is rented out (eg new shower/update kitchen/floorboards/paint, fixing leaking taps...
  12. M

    Aggressive offer strategy

    I did that in a hot Sydney market and just ended up pushing the price further up. Not sure how it is for Melbourne.
  13. M

    Flood zone? Development potential?

    Looks like it's subject to overland flooding. Even if I an get a DA I can only build a max 40m2 granny flat with this council. Would it be hard to develop in the future due to this clause ? The numbers are ok for a buy and hold
  14. M

    Flood zone? Development potential?

    Will this clause affect insurance ? I know houses in flood zones cost more to insure
  15. M

    Flood zone? Development potential?

    Hi all In the past I have tended to avoid buying properties that are in a flood zone. However, I came across this clause in a contract that I am looking at and am worried it will affect my ability to build a granny flat/ subdivide in the future. part 7a - flood related development controls...