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From: Anonymous
G'day all, I'm a first time user at this so hear goes!
Like many other first time investors, I'm green to property investing; I have been educated only by books thus far and attended my first property investment seminar as follows - a small organization which assists investors to reduce taxable income, provide an additional source of income, build a nest egg etc. etc. They do this by seeking out the location, vacant land, have an associated company build the type of property which they deem in high requirement for occupancy, set it all up, finance, building, legals, property manager & tenants; everthing from go to wo. All this is done after reveiwing your financial position of course. The key point emphasized was, because the property was brand new, it was 100% deductable for depreciation as opposed to a minimal depreciation on 2nd hand properties.This all sound very inviting, but I'm unsure of the laws & flaws of this particular format. I have requested info. from the ATO as per Jan's book; but I would much appreciate the experiences gained from those that perhaps crossed this bridge. Also, I do not know whether it is just me or not, but does anyone else like to have input into some of the nitty gritty dealings. I beleive that the "fees" associated with this setup are around 2.5% of total costs. Any comments are welcomed.
Regards - Rod
G'day all, I'm a first time user at this so hear goes!
Like many other first time investors, I'm green to property investing; I have been educated only by books thus far and attended my first property investment seminar as follows - a small organization which assists investors to reduce taxable income, provide an additional source of income, build a nest egg etc. etc. They do this by seeking out the location, vacant land, have an associated company build the type of property which they deem in high requirement for occupancy, set it all up, finance, building, legals, property manager & tenants; everthing from go to wo. All this is done after reveiwing your financial position of course. The key point emphasized was, because the property was brand new, it was 100% deductable for depreciation as opposed to a minimal depreciation on 2nd hand properties.This all sound very inviting, but I'm unsure of the laws & flaws of this particular format. I have requested info. from the ATO as per Jan's book; but I would much appreciate the experiences gained from those that perhaps crossed this bridge. Also, I do not know whether it is just me or not, but does anyone else like to have input into some of the nitty gritty dealings. I beleive that the "fees" associated with this setup are around 2.5% of total costs. Any comments are welcomed.
Regards - Rod
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