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just oldschool.

Questus is popular here in WA as well.

eh? maybe some people are doing that, but not all. an NRAS allocation COSTS about $20k for the developer - of course they'll pass that on.

NRAS was brought in by a very smart woman by the name of Tanya Plibersek - a woman I would vote for as PM tomorrow. NRAS now has followers, so i doubt it can be canned as such, at the least all existing investors would be honoured and no more new applications will be allowed.

MIS stil have issues because the lenders are still, well.....lenders. MAY POSSIBLY MAYBE that with the MIS you can't forfeit your NRAS (being a managed scheme), HLA you can definitely if you so choose to. if it's not in the PDS then you need to ask about it.

you are prob talking of the Devine Group? thanks for clearing some of the myths up euro73.

certainly is a mixed bag. the developers i know have just been issued a full allocation for their sites, with "Carry Over" options to other developments if all allocations are not taken, as well.

oh god, it just gets better and better doesn't it....? i got nothing...:rolleyes:

the developer i use has "x" number of allocations per annum. you buy a property, you buy it. then you can be assigned NRAS before you take the keys upon completion. from someone at "a" bank, apparently organising an NRAS option is enough to satify the initial criteria.

yeah i think we're splitting hairs here. i'm always the opportunist - if there's no legislation saying you CAN'T do it - then i do it until there is such that says you physically can't. and i think that's pretty evident here :)

okay - from the horses mouth. Banks are not lending to NRAS schemes - in particular - CommBank are ACTIVELY RINGING developers and asking if "x" property is NRAS. There are legal ways around this and they're being tested now. Your best bet to get into an NRAS property is to use someone who...

great link Tuppence and highlights why you can't just go out there and apply for an allocation. the developer of new stock gets a number of allocations per development, OR they get "x" number per year and divide it up as they see fit. and buying off said developer blah blah blah... this...

this was the point behind the Aussie Govt "not enforcing" the scheme - the second they do, it becomes quasi state housing that is property based, not lease by lease based. it's incentive, not policy.

so avoid LMI....?

but it's not a material change to the security. you can give up your NRAS the second a "80% lease" lapses. it's not stuck across the property for 10 years. it's lease dependant, not property dependant. like i said, it's not quasi state housing.

exactly. the property wasn't a bare property, it was an NRAS approved property. different kettle of fish to a developer selling regular property then having 20 or so allocations up their sleeve to assign after finance approval.

buying an already approved NRAS property is a different story to buying a property then being assigned an NRAS allocation. cart before the horse.

in short, you're a fool if you think it's that black and white. the DEVELOPER IS ASSIGNED "x" NUMBER OF ALLOCATIONS, and you purchase a house + allocation from the developer. you stay compliant by using an NRAS approved PM and your tenant remains under the NRAS salary cap. why would you put a...

okay guys - whatever...... to qualify you must use an NRAS approved PM - this ensures the tenants fit the salary caps according to who is living there etc. NRAS is an allocation. you are buying a property as a freehold strata or green title. the property zoning doesn't change but the NRAS...

Rolf, a developer i work with runs NRAS to regulars without SMSFs....? you just need an NRAS trained/approved PM to manage it and you can pick the tenant. no different LVRs, no minimum account balances....and CF+.