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adam have a read of the last few pages in the spotted thread!

as for the southside comments, big slaps for you next time i see you >_<

Bout $500p/w

I'll check my calculator tomorrow to confirm though.

yeah this sounds about right - I was looking on allhomes at a place that was 310k and the calulator thingy said $475pw

that was assuming you'd paid the deposit of 30k >_<

damn thats alot of money to have to save........

When that $30,000 can leverage you $300,000 I'd say it's a tiny ammount hehe.

I'll reply to the other questions asked earlier, tonight.

Also, check out todays Canberra Times, page 5, bottom left hand corner, the Greenway ad and you'll see my picture lol.

What suburb and type of property would be best to get into now and in the next 12 months or so for an investment. I own a 2 bedroom townhouse in Latham which has been a great investment so far. Just bought in Sydney a month ago so will be looking in canberra for another one in about 12 months or so.

I'm a Belco boy originally so biased towards there but Canberra isn't so big and your areas aren't too far away. I just would prefer not to go too far south. Sux down there...

Waits for flaming. :D:happy:

I'll touch on Abo Bob's questions but also cover investing in general for anyone who'd like the read.

Best areas to invest in at the moment are the same as they will always be. The core areas; Turner, Braddon, Kingston, Manuka etc.

Essentially when we look to invest we need to look for a few key things that will help ensure a safe, profitable and secure long term assett.

1). Core areas- these are always in high demand wherever you go. The central zones mean that the higher demand ensures a). Lower vacancy rates. b). Higher rental returns. c). Stronger, faster and more consistent capital growth.

2). Over 50m2- This one speaks for itself, anything under 50m2 makes bank approvals after valuation difficult and few people want to live in these as they are too cramped. Always try and go for over 60m2 if you can, but 60m2 is fine and will be in high demand (most 1 bed units range from 59m2-75m2).

3). New- Brand new units attract far greater tax benefits than established homes. Why? Because they allow for better depreciation, the first few years of a property's life are when it will depreciate the most they will depreciate at several thousand dollars every year which you then claim as a tax deduction, lowering your taxable income and giving you a far healthier tax return come July. E.G. $7000 depreciation in the first year will a). lower your taxable income by $7000 so if you earn say $75,000 per anum your taxable income is then reduced to $68,000; now if you earn $75,000 it will lower you into the next tax bracket reducing your overall taxable income significantly, clever huh?

b). that $7000 of depreciation means you can then claim that $7000 as a tax deduction, so if, like me you are taxed at a high income rate income rate (42% I think for those earning between $75,000 and $150,000) you can then claim 42% of that $7000 back. E.G. $7000 divided by 100 x 42 = $2940 refund.

Not to mention if you paid $40,000 in deposit, stamp duty and fees then that is all deductible also E.G. $40,000 divided by 100 x 42 = $16,800. lowering your taxable significantly.

So why don't more people invest? fear and lack of education. Only 1% of Australians own an investment property and 0.2% own more than 1!!! crazy huh?

It's funny that around the same 0.2% of Australians are millionaires, what a strange coincidence.....

So guys this is what I'm here for, you've got access to an professional with a great knowledge of property and will help you, for free, anytime just because you asked for help and like skylines.

If you've been contemplating something like this but have been afraid to seriously consider it then send me a pm or take me out for a coffee in your lunch break, if nothing else you'll get to have coffee with a pretty decent person and learn something.

Andrew.

This is my fun disclaimer so you don't sue me: All advice given is my understanding only, you should seek independent advice before venturing in to purchasing property.

Edited by Veilside R33

Thanks mate. I'll give you a yell when I'm ready and see what you have.

I just found out that things like stamp duty and legal fees are classed as CAPITAL expenditure by the ATO so you can't deduct them from your taxable income. You do however deduct them from any capital gain you may make when you realise that gain.

Bummer hey.

Oh and Shell - it was only a matter of time. Go north. hahaha

Seriously I don't care... as long as I don't have to go down there for any reason other than I'm going to the snow. hahahaha

Ah yes, my bad. Didn't mean to include stamp duty.

Also, while I remember, if anyone has any friends or family in need of advice then I'm more than happy to have a talk with them also, the same offer goes out to them.

To make things a little easier, if anyone needs me during the day then my work account is the best option, I'm usually only on here once or twice a week but due to the large number of PM's I've been receiving I've been coming on more often.

[email protected]

Hello everyone.

I am also quite experienced in property investment.

The best Australian property related forum IMO is http://www.somersoft.com/forums. I'm DavidMc.

Probably a better place to discuss where to invest, questions about depreciation, books to read, trusts, etc, etc, etc (I could go on forever - and usually do!).

Edited by McCracken
Hello everyone.

I am also quite experienced in property investment.

The best Australian property related forum IMO is http://www.somersoft.com/forums. I'm DavidMc.

Probably a better place to discuss where to invest, questions about depreciation, books to read, trusts, etc, etc, etc (I could go on forever - and usually do!).

yeah it's a great forum, I'm on there also but rarely post.

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