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Latest Accounting News
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Articles

Geroge & John   A Christmas Message

Employee Christmas Parties and Gifts – Any FBT?
Salary Sacrifice - An introduction
8 Financial Tips For Young Adults
Merry Christmas and Happy New Year
George's & John's Desk - October - November Newsletter
Age Pensions
Commonwealth Seniors Health Card
Failure to Provide Alternative Duties Does Not Amount To Disability Discrimination
Tips For Buying The Perfect Investment Property

George & John August 2010 Newsletter

Tips For Buying The Perfect Investment Property
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When buying, avoid the emotion of an auction and endeavour to buy very soon after a property is listed and know your strengths compared to the vendor’s weaknesses.  Give your accountant or financial planner a call to take the emotion out of it and obtain the benefit of their experience.

An investment property often generates capital Gains in the long term, but cash flow losses in the short term.  Knowing what your goals are before you purchase will ensure that you don’t have surprises by the Negative Gearing losses.

Some tips in finding the perfect investment property include:-

  1. The decision should be emotionless, focusing only on the return and growth potential.
  2. Don’t pay above the average price in the selected suburb.  There is more scope for capital growth when you buy below the average price.
  3. Buy properties in good condition.  Unless you are a skilled tradesman and have available time, or enjoy the process, your investment could become a chore.
  4. Buy new or near new to ensure maximum depreciation claims and to avoid maintenance costs in early years.  A quantity surveyor can help maximise claims
  5. Find a good real estate agent or letting agent and maintain regular contact with them – use their significant experience in the industry to your advantage, rather than blindly conducting internet searches or spending time at auctions and openings.

 

 

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18th-November-2010