Is anyone buying now?!

[Nikolina]

I don't like to buy in this type of market but i have because of tax reasons. Signed contracts today.

 

[Rolf Latham]

I don't like to buy in this type of market but i have because of tax reasons. Signed contracts today.

tax reasons ? Sounds intruiging

how so ?

ta
rolf

 

[Nikolina]

Got a decent tax bill this FY. Didn't put enough $ into renovations to break even or only owe a little and have run out of things to renovate on current IP so purchased another IP that i can spend a few k on each yr renovating.

 

[D.T.]

I don't like to buy in this type of market but i have because of tax reasons. Signed contracts today.

Translates to
"its bad investment but its tax deductible so who cares"

 

[Benvolio]

looking to buy a PPOR in sydney just not sure WHEN? any advice? a part of me says buy now, the other part says to wait, keep growing the deposit and buy when things cool. if i have the deposit should i take the plunge?

 

[Nikolina]

Translates to
"its bad investment but its tax deductible so who cares"

Its too competitive for my liking trying to compete with everyone else but I managed to get a good buy. I put in two other offers on two other homes that got knocked back so i walked away from them. I will only pay what i think its worth. Third time lucky. I prefer to buy when interest rates are much higher, more room to negotiate and not much competition.

 

[LoneWolf]

Stockmarket is a good buy if it can go close to 5000.

Property is good to sell.

Funnily I'm still chasing a few deals but they're quite unique circumstances, otherwise I wouldn't really touch the Syd/Melb markets. Maybe Brisbane?

Where about in bris you would consider and what?
If you don't mind sharing berry

 

[Rixter]

Translates to
"its bad investment but its tax deductible so who cares"

Probably the ATO.

 

[LeoT]

Where about in bris you would consider and what?
If you don't mind sharing berry

8-10km from the CBD. House. Scope to add value in some way.

 

[eternit]

Probably the ATO.

why would the ato care if the deductions claimed are valid?

They would care if you deduct something which you are not supposed to.

 

[Rixter]

why would the ato care if the deductions claimed are valid?

They would care if you deduct something which you are not supposed to.

I didnt say they wouldnt care if the deductions are valid. I mean they would have to fork out more for a greater loss due to it's bad investment status .

 

[eternit]

I didnt say they wouldnt care if the deductions are valid. I mean they would have to fork out more for a greater loss due to it's bad investment status .

Yes but I don't think ATO would actually care about that. Who in ATO will care?

 

[Rixter]

Yes but I don't think ATO would actually care about that. Who in ATO will care?

In general terms speaking.

 

[Deltaberry]

Where about in bris you would consider and what?
If you don't mind sharing berry

I'm actually looking at the inner city/inner east areas like Bulimba, Hawthorne, Kangaroo Point etc. But also looking at CBD retail shops and development sites too. Although I'm still so-so about the latter as southerners aren't flooding to buy those any time soon, and I just can't see Brisbane getting enough traction from a marketing perspective in China, whereas every Chinese with a bit of dough is talking about Sydney and Melbourne now, everyday. I wonder if Chinese even know where Brisbane is.

 

[btdunstan]

About to settle in a few weeks. 3x1 subdividable block in Perth

 

[MTR]

Selling developments currently under construction within the next 2 months, and buying another development site different State.

 

[LoneWolf]

8-10km from the CBD. House. Scope to add value in some way.

Leo, some suggestions please? 8-10km in which direction?

 

[paul81]

Been looking for past 5 months and only just last week purchased one in Western Sydney... market is too hot

 

[starter]

Leo, some suggestions please? 8-10km in which direction?

Any direction is fine. However, I have a soft spot for the inner North, nice area and lots of things happening there.

 

[westminster]

In the coming 3 weeks I settle on

- PPOR land, then we have to build
- North Perth #2: 5 x terraces with a mixture of 1, 2 or 3 bedrooms
- North Perth #3: mixed commercial/resi block when it's rezoned next year. I'll put on 100sqm CIP and 280sqm of RIP above.