Reinhardt & Christa Posted October 5, 2006 Report Share Posted October 5, 2006 Hi all!I know this is maybe a little pre-mature, seeing that we are not yet in Aus, but I thought that I might as well post it now; it may just be of help to somebody else too.I want to buy a house as soon as I can after arriving in Australia and would like to know the ins and outs of doing that. For example, I understand that if I am there on a 457 visa I need to get permission from the government to purchase property, whereas on a PR it is not necessary. Also, what other considerations are there, such as the equivalent of the South African "Transfer Fees", when buying a house? Are there implications when buying a second or third property? Is it better to buy in my personal capacity, or should I do it in a trust or company? What are the tax implications (Capital gains tax comes to mind)? What considerations are there when buying to rent? (My long term goal, 20 - 30 years from now, is to own a number of properties and rent them out.) Should I rather consider joining or starting a property syndicate, or go it alone? Are there any good books on the subject that will give me some of the answers, or possible someone can recommend a good consultant?I understand that my best bet would probably be to consult a property lawyer when I get there, but I would just like to get a feel for it so that I am not totally clue-less and have some basis to work from.Any comments or pointers will be greatly appreciated, and also possible questions to ask said lawyer when I get there! Lastly, is there somebody else that will be interested in such a venture?Thanks! Quote Link to comment Share on other sites More sharing options...
Guest Lara Posted October 5, 2006 Report Share Posted October 5, 2006 Take a look at these for some info:FIRBATO Quote Link to comment Share on other sites More sharing options...
JohanK Posted October 6, 2006 Report Share Posted October 6, 2006 Some info Quote Link to comment Share on other sites More sharing options...
Guest B H Posted October 6, 2006 Report Share Posted October 6, 2006 Hello R & C - We would be very keen on such a venture and I'm going to watch your replies with interest. It has always been a 'hobby' of ours & we've bought & sold 5 properties now, always for a profit. Knowing we are probably nearing the end of the huge property boom here, I would be very cautious just to go over & start buying without a lot of research, as you are doing.We also live in PTA, in Lynnwood. Where are you moving to? Bronwyn Quote Link to comment Share on other sites More sharing options...
Reinhardt & Christa Posted October 9, 2006 Author Report Share Posted October 9, 2006 Hi BronwynAs I said we are very much in the beginning stages of such a venture, but very keen none the less. After we have settled down there I will probably take it further, then we can chat about the possibilities. The returns might be diluted if one does it in a group, but the advantage is the added buying power. As I get more info I will post it.Thanks for the info so far Lara & Johan, I will have a look.We are aiming for Melbourne, but not really too fussy. Out main aim is just to get there! Quote Link to comment Share on other sites More sharing options...
Reinhardt & Christa Posted October 9, 2006 Author Report Share Posted October 9, 2006 I have not looked at it in detail but this site may also be very helpful. Quote Link to comment Share on other sites More sharing options...
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