Dear all,
Long ago, when I started property investing I hadn't heard of trusts, so I put some properties 99% in my name and 1% in my wife's for the tax deductions. However, I was also buying cashflow positive properties.
Don't laugh, we all have to learn.
However, I have taken a job in the Solomon Islands which is essentially tax free and I will never have a better chance to sell a property with less effective CGT payable.
I own a 2br flat in Kingston, furnished and rented at $450 per week. It's all non lease rentals to diplomats, the Brumbies and other temporary Canberra residents. The Brumbies, BTW, are awesome tenants. One breakage in 5 years and the ARL paid for it without a quibble.
The management is 12.5% because they keep the tenants coming and handle everything without a problem. I would recommend that if you were not planning to live there, that you keep the agents who are executive rental specialists.
Asking price is $350,000, which is a yield of around 6.7%. Given that you can get a residential loan for this one, I suspect that there are few better deals on the market.
I will try and keep this updated, but I shift countries in 2 day's time and I'm particularly unsure as to how soon I can get internet in the Solomons.
I'm not in a hurry to sell, so if you are even vaguely interested, drop a reply or a PM here and I'll check in from time to time.
Regards, and successful investing,
Quiggles
Long ago, when I started property investing I hadn't heard of trusts, so I put some properties 99% in my name and 1% in my wife's for the tax deductions. However, I was also buying cashflow positive properties.
Don't laugh, we all have to learn.
However, I have taken a job in the Solomon Islands which is essentially tax free and I will never have a better chance to sell a property with less effective CGT payable.
I own a 2br flat in Kingston, furnished and rented at $450 per week. It's all non lease rentals to diplomats, the Brumbies and other temporary Canberra residents. The Brumbies, BTW, are awesome tenants. One breakage in 5 years and the ARL paid for it without a quibble.
The management is 12.5% because they keep the tenants coming and handle everything without a problem. I would recommend that if you were not planning to live there, that you keep the agents who are executive rental specialists.
Asking price is $350,000, which is a yield of around 6.7%. Given that you can get a residential loan for this one, I suspect that there are few better deals on the market.
I will try and keep this updated, but I shift countries in 2 day's time and I'm particularly unsure as to how soon I can get internet in the Solomons.
I'm not in a hurry to sell, so if you are even vaguely interested, drop a reply or a PM here and I'll check in from time to time.
Regards, and successful investing,
Quiggles