- Andy Pater
- Mar 18, 2019
- 1 min read
The design process by Wine And Haus Talk, Presented by Andy Pater.
https://docs.google.com/presentation/d/1NHPNgCh3f_mHFiW6OlPf1yyeIovxD_D1a5hMLBeQHPA/edit?usp=sharing
Check Out The Video!
Listen To The Podcast!
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- Andy Pater
- Mar 10, 2019
- 1 min read
Back in February, I sat down with Andrew Van De Beek to discuss negative gearing. You can find the video and podcast below.
Here is a brief breakdown of what we discussed.
The correct way to smell whisky “If you wanna be a wanker” is to breathe through your mouth.
Negative gearing in the most basic form is when you own an investment property and the property’s income is less than the expenses you pay out plus the cost of interest on your loan and any potential depreciation of your asset or the value of the home.
The beauty of the way that legislation has been written means that you can claim your loss as a tax deduction!
Depending on your circumstances, you may find yourself getting a tax refund or paying significantly less tax. If you have any questions, get in touch with Andrew from Illumin8.
To take advantage of the process, you need to start by ordering a depreciation report. They will assess the property and let you know what you can claim.
At the moment, the labour party are campaigning to abolish negative gearing. If that were to happen, all of the points listed above would be irrelevant. It could also have a dramatic effect on house prices as many investors could decide to leave the market, reducing demand.
We’ve posted the full interview below!
- Andy Pater
- Feb 10, 2019
- 2 min read
Medium density homes, or townhouses can be a real game changer. If you are struggling to get into a home because you have a low deposit, this might be the option that you are looking for!
These days, townhouses can be very desirable. Some come with all of the creature comforts of building with a volume builder for significantly less! A few of the communities springing up around Melbourne are very well designed and are helping to change the way that people see townhouse projects.
The way that we buy townhouses is the reason why we love them. There are two types of medium density contracts. One-part and two-part contracts. Both are commonly used but one part contracts are our pick for success!
A one-part contract is an agreement stipulating that the purchaser will settle after construction is complete and the land is titled. A two-part contract is a little different.
This is an agreement where the purchaser needs to settle the land before construction commences.
When dealing with a one-part contract, a purchaser need only pay a deposit (no more than 10%) to secure the home and then pay the balance of the cost of the home upon completion. Now, as construction is traditionally a very lengthy process this buys the purchaser time! Time to save, time to pay off debts and time to progress in their job.
However, a two-part contract is very different. With this system, a purchaser settles the land ahead of construction. This means that they need their financial approval much earlier in the process than with a one-part contract.
The upshot is that, typically, from the day you sign either format of contracts, construction can take from 8-36 months to complete. A one-part contract means that you can enjoy the capital growth without funding your investment whereas a two-part contract requires you to pay progress payments for 75% of the process.
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