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Client 1>
A client of ours that we recently spoke to had an investment home in Brisbane and owned the home for seven years. Their structure was completely wrong, although they did buy in the right location. They purchased the home as an investment property and had the home completely under the rental value, returning around 3%, we soon changed that to 5%.
Secondly had or didn’t realise that they could claim a substantial tax return and we discovered that there was a $42,000 return for them from the ATO.
Thirdly they had an offer from a builder to buy their property at the same price they paid for the home seven years ago. (This raised alarm bells) after researching the comparative sales in the area and reviewing the home we realised after a game plan of around $30,000 in renovations we can sell the home or increase the value to an extra $350,000. Now we are ready to look at the next step for this client.
Client 2>
This particular client wanted to or had a dream to buy a 2 bedroom unit or apartment on the Sunshine Coast. They stated on the first consultation that they wanted a weekender and were looking at a 20 plus year old property. OK!!
A number of things wrong here.
1. No rental returns as they didn’t want anyone to live in it as they wanted to use the property for a weekender
2. No tax advantages like depreciation and they could only claim on losses and outgoings.
3. Maintenance issues being an older property, it was due to have a list a mile long. New oven, new dishwasher, paint, carpet etc. So saved them tens of thousands of dollars.
4. Pending on position, style of property we were looking at a price point of $290,000 up to $550,000.

Solution and outcome: We found after research a brand new 2 bed, 2 bath, 1 car apartment tremendous ocean and river views, rental returns in the first month of 6% net and the next four months achieved 6% and 6.5%, and the first year tax returns was $17,500. Purchase price $545,000, near all shopping and restaurants, and all facilities in the complex that your heart can desire. Resale value always going to be there as position was A grade, and being brand new and all facilities in the building complex plus the wonderful view it was a no brainer.
And they get to use the apartment when they want. This is a great outcome for the client.

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