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Not sure if anyone saw this article a couple of weeks ago that shows the Melbourne is now the least affordable city to buy a home in - beating Sydney. We probably already knew this, but now the figures back it up. Looks like we all need to move to Hobart...

There are a couple of areas to watch out for, like the Park Beach area, properties are very cheap but locally has a bad reputation I believe. Will be a goldmine in 10-15 years time though as its just behind the main beach in Coffs if you are willing to hold on Be interested in other peoples...

I would agree, in terms of the amount of years you have to hold on to it the return is probably pretty low - although if you have enough you might end up with a rare one worth a bit. Have a look to see if there are people selling them through secondhand dealers or even ebay to get an idea of value.

I assume that's a joke about H&R block! you get what you pay for and rather than looking at how much you pay your accountant - look at how much they get you back. Better to pay them $200 per hour to get you back $10k than $50 p/h to get back $5k. Sorry I'm not being very specific on rates...

Does anyone know what the market is like in Coffs Harbour, NSW for an IP. Thought about investing there before but never have. Be interested to hear people's thoughts on the area, opportunities, investment potential etc.

Honestly I would knock and the door and explain the situation - think about what you would prefer - you'd want someone to be upfront and honest. Then say you'll follow up with a letter and x3 quotes (but explain he is also able to get quotes to compare). You can probably get an idea by looking...

With all these things its much better to be upfront and honest, we all don't like paying taxs and would be rich if we didnt, be at somepoint it'll come back to bite. I understand you are just asking if it possible and not saying you would like to do it, but just incase some else is, I wouldnt...

I would go brick as a personal pref. When you say its the same cost do you mean for purchasing materials or purchase and build? I can see material cost being the same but would have though Hebal panels would be cheaper and quicker to build with? Not sure if there are any environmental...

They'll be alot of takers for that, although how do we know your not one of the weirdos. I'm afraid I'm a touch older than you, work in tax & wear a suit rather than overalls! Good luck with the projects!

I think it probably depends on the value of your place, if you have a high value IP then spending money on a stylist would be money well spent, if you have a lower value property then I think you could probably get a better return simply by staging the furniture yourself.

Its interesting that most people don't make use of all the simple deductions and allowances available to their with their IP. Often people looks for the large savings and things like trusts, depreciation etc. However making sure you claim all your simple tax deductions for home office use...

I had never thought about using facebook for research before - great idea. I am sure there are so many 'inside' deals that take place between PM's and mates. I'm off to have a look at my current tenants now!

I would tend to agree that you are better off with IP3 and keep renting although you also have to look at the downside and remember that you will have to live in a rented property for the next few years - if you are happy to do that and the restrictions that go with it, then it makes sense to...

Its interesting that some investors are deciding to rent a house a invest their money in other forms of investments rather than purchase their own house, let also other investment properties. There are always IP's with potential however in both Sydney and to a lesser degree melbourne but you...

The links posted in the previous reply are helpful & essentially the simple rule is that you can’t claim any expenses for anything unless it’s for income production. As obvious as that may sound, this simple test leads to the correct answer to this and other similar questions. As an investor...

It is important to build a relationship with your accountant and give them the opportunity to get to know your personal circumstances - if they see you as someone who's going to shop around for the best price they won'r bother to get to know you and your needs. As already mentioned...

H&R block might be okay if you are doing a basic tax return when you work for an employer and have no investments but if you have a property or any other kind of investment I would be going to see an accountant not a tax agent. To find one in your local area speak to other people with...