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My partner and I have recently signed a contract of sale for a property in Aug 08. We purchased it in good will thinking we'd be able to move in as our first home in Dec 08. The REA told us that the tenants in the property are on a month by month basis and no contract was actually in place. Long...

I have recently just purchased a property based on profits and receipts (not vacant possession) and it is currently tenanted. Lease is till May next year. Settlement is next month, can I get the tenants out based on the claim that I'm a home buyer and intend to stay in the property myself?

I plan to use FHOG and then turn half of my PPOR into IP. (renting out a room) Do you guys know if I can cliam depreciation for my building and furniture after the first 6 months period ? even if its for the furniture that was purchased during the 1st few months of my ownership before I convert...

I am thinking of purchasing a nice apartment and renting out one of the rooms to help with the mortgage. Living in one room and renting out the other will result in a shortfall of about $20,000 p.a taking into account everything. If I were to rent out the whole apartment, its almost neutrally...

Hi Guys, Have any of you guys been to this seminar before ? I (Understanding what is happening in the property markets) its presented by Michael Yardney and Ed Chan. If so, would you please kindly share your views here? Is this REALLY what the title says or is it just some subtle way...

As long as I have been here (which is not very long actually), I've came across many people who dislikes Docklands. Why ? What is the reason ? and do these people dislike inner city apartments in general or just the suburb ?

Hi Guys, I was wondering, how do we actually find out what constructions are going on in the surrounding of the building of interest ? There is a piece of land next to my apartment with tractors.. It might be a carpark, apartment, shopping centre or god knows what. How do I get...

Hi Guys, I'm in need of help urgently.. I have put in an offer to the vendor that has been accepted. I'm just paranoid that if the bank's evaluation comes under my purchase price by say..$100k.. would it be advisable for me to still buy if thats the case ? I understand that this will...

I'm thinking to put the lump sum into my first home. Most likely buy a place worth 450-550k inner city apartment. Should I do the above or put a smaller deposit and the rest into an offset account ? Or partially invest in shares ? What would you guys do in my shoes?

Dear Accountants, I am looking to buy my first IP/residential property and need some advice in regards to taxation. I would really be appreciative if you guys can put your two cents in this scenario of mine. I am looking to buy a 2 bedroom apartment. One room to live in, one room to rent...

Hi All, This is such an awesome site, I must say. So much information, its incredible! Anyway, I am looking to buy an 2bedroom apartment within 3-5km radius of Melbourne CBD. Suburbs that I am looking at would be Southbank, St.Kilda, South Yarra, Docklands, Melbourne etc. One room to rent...

Just a short introduction about myself. I am PR in Australia working in an engineering firm. Long story short, I am currently looking to purchase a property with my partner. However, we're unsure how to structure the loan. We're planning to purchase a property(2bedroom apmt) valued 450k...

This is one of those major on-going issues.. What do the experts of Somersoft have to say about this ?

Hi All, I am currently living in Melbourne and about to buy my first IP. I was wondering if you guys could recommend me a good accountant. My situation is a little different as I am a PR here and I'm originally from Malaysia. An accountant who is experienced in dealings with people from...

Hi ALL !! First of all, I must say that this is a very impressive site! The people here are very knowledgable and helpful ~ Let me introduce myself. I am a fresh chemical engineer graduate and I am currently working in an engineering firm. Dad from overseas would like to make an...