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Westpac's NRAS product is much better than Firstmac's product. Check if you service with Westpac before going to Firstmac. Also check if the NRAS is under a Head Lease arrangement for under a Non Entity Joint Venture arrangement. Westpac lends a maximum of 85% for hard lease and 90% for a non entity JV.
The OTP one we were originally looking into was NEJV, but this one in Noble Park is through Providence Housing and they are Head Lease!
There are lots of people on this forum who do depreciation reports. The cost ranges from $500-700 and you give this report to your accountant when he does your tax. You get a portion back each year and most often you either get the deprecation fee paid back within the 2 years (if not the first year).
You definitely pay strata and $1200 is quite good. Aim for complexes that have no lifts, pools, gyms, etc. Also you need to check out the sinking fund and also the AGM report. This is crucial. Obviously you have a clear strategy however have you considered buying slightly older (and larger) units whereby you can slightly renovate over time and possibly gain CG?