Learn to Become a Sophisticated Property Investor: Take this Property Quiz and Learn Where Your Skills Are At! by admin | Oct 25, 2023 | 0 comments Welcome to your Learn to Become a Sophisticated Property Investor: Take this Property Quiz and Learn Where Your Skills Are At! Name Email Phone How much deposit do you need to have if you don't want to pay LMI (Lenders Mortgage Insurance)? 20% or more 10% or less 15% None If you sell a property when does Capital Gain Tax apply? It only applies to investment properties and the tax paid is determined by how long you owned it, which entity it was purchased by. It can then be offset against your income tax bill. It applies to all properties, regardless of type or ownership duration. It only applies to properties owned for less than six months. None When are you liable to pay land tax? You are liable if you own land in a specific state. You are liable if you own any land, regardless of its value. You are liable to pay land tax if all your properties are purchased in one state and the total land values exceed $600,000 or more—for individuals and trustees of special disability trusts. None Which type of properties give me tax benefits I can offset against my income tax in the same year? New properties Commercial properties Old properties None Which property is safer to buy new or old? It depends on the location of the property. New properties are always safer. In most cases, older properties cost less, meaning a lower mortgage plus they give you the opportunity to value add to increase the property's values and rental income. None Is Negative Gearing a safe strategy? Negative Gearing always leads to higher profits Negative Gearing is the safest strategy in property investment Negative Gearing is a risky approach as you are limited to buying new properties that are more expensive and the rent does not normally cover your mortgage. None Is Capital Growth a better strategy than Cashflow & Value Add? Negative Gearing always leads to higher profits. Capital growth has more risk as it is long term, and you don’t control many of the variables that can impact the market. Negative Gearing is the safest strategy in property investment. None Should I only buy in my local area? Buying in your local area has more risk as your have all your assets in one market. Buying in your local area is always the best strategy It is always better to buy far away from your local area. None Is using the government grant a good idea? It depends on your financial situation and investment goals. Government grants are always a bad idea in property investment. Getting free money doesn’t mean a good purchase and shouldn’t define your reason for buying. None Should I buy my own home or rent and buy investment properties? Buying Investment properties normally creates better cash flow and provides more options long term. Renting is always better than buying your own home. It is always better to buy your own home regardless of the circumstances. None Is there such a thing as the best property strategy? Yes, there is a one-size-fits-all best property strategy. It depends on the market conditions. No, your strategy should be determined by your investor profile, long-term goals, and financial position. None Should I use a buyer’s agent? Only if you are not prepared to put time into developing your own skill and are prepared to trust someone else blindly for your results. Yes, it's the only way It can be beneficial, but it depends on your experience and comfort level with the buying process. None Time's up Submit a Comment Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment.
