If you feel that the CSA formula is unfair have you considered lodging a Departure for Change of Assessment ? This is where both parties submit income and asset details and a Senior Case Officer decides if its fair to change the current assessment. You also have the opportunity for a phone or personal interview. You will obviously need to prove…[Read more]

Just been doing some numbers. Looking at boarding house fire compliance, registration fees and electricity.
We’ve got our hands full at present too but giving it consideration.
I agree with Benny that a facelift wouldn’t hurt and could be done as each room became vacant.

Amanda
“It is better to be inconspicuously wealthy, than to be…[Read more]

Thanks Lisa. I think its worth a closer look.

Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”

I think Cata has probably covered most points and agree as with all painting its the prep work that takes the time. I use my spray gun on ceilings and cornice first. Its fantastic for decorative plaster and VJ walls.
Make sure you wash it out properly after use. I also strain my paint into the container through a sieve to avoid any lumps…[Read more]

For a small fee you can obtain these details from RP Data or abr.com.au. There is usually around a 6 week lag though before the data is registered.

Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”

Dr X this really had me stumped last night. First I thought of “Dr X Incorporated”, then I thought maybe “Dazzling Developments” but at 2am I think I have it. Why not utilise the first initial of everyone involved to make your own name and then add on
“_ _ _ _ _ _ Property Investment Group Pty Ltd”
Of course this will only work if some have…[Read more]

Capital gains is calculated from the date of the contract which you said was Sept 2005, so long as you sign a contract to sell the property after Sept 2006 you’ll get the 50% discount. However its a 50% discount on the profit which will be quickly eroded with interest over the 12 month period. If the result is a loss this is treated as a Capital…[Read more]

Yes but that big new 4WD is probably on lease or Hp. I’ll stick to my 7 seater 1996 Ford Falcon Station Wagon with 260000 on the clock which we own. Mind you it could do with a clean !!

Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”

With the CBA they have us on a “Wealth” package (ie. debt over $500k) which entitles us to a .5% interest discount on all our loans plus no bank valuation fees.
We do pay an annual fee of around $300 but we’re well in front I think.

Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”

I don’t have any syndicate experience like that mentioned but we have our own land subdivision we are doing at present of 1 into 7 house lots which includes a new road. Its been a very slow process. Bought land Oct 2003, DA approval Sept 2004, Operational works approval April 2006, and we haven’t turned any soil yet !! Its costs us more than…[Read more]

We use a CBA Business mobile lender and she set us up a variable loan at 5.99% which we’ve used twice so far on a reno and sell. When we sell the property we pay the loan down to $10k and then reinstate the loan for the next purchase. No establishment fees providing we don’t repay in full within 5 years.

Amanda
“It is better to be…[Read more]

I agree with TimC about Ron’s book its a fantastic resource. A bit technical in parts so a slow read but crammed full of great information and some free charts at the back. I got my book from Dymocks in Brisbane if that’s any help.

Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”

When will I learn !! Thats the second time I’ve assumed the wrong sex. Sorry Jules and Xenia[rolleyesanim]

Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”

This is not a decision you can make alone but rather with your partner. Your profile shows you aged 29 with no kids “yet”, and I think this is the crucial issue. You need to sit down and talk with your wife and work out when you plan to start a family, if at all. If you go head long into fulltime property investing and she desperately wants a…[Read more]

Hi Sark,
As Paul said it seemed pretty sensible info. The book is a good read and has several profiles of successful property investors and included links to good webb sites. I bought mine from Dymocks for around $30.

Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”

We did a removal house a couple of years ago. Your first stop is your local Council to determine what conditions are required for a removal house in your area, and the amount of the bond and fees payable. This topic has been covered before of the forum so try doing a site search also. Your local paper or phone book should have details of removal…[Read more]

Sounds familiar. Have you had the “I was so worried I couldn’t sleep” routine yet ? Or perhaps “Why are you doing this when you’ll have all this (arms spread) one day”.
It’s their way of saying they are worried but care. Your parents were brought up in a different generation where debt was seen as bad.
Don’t worry you’re not the only one’s who…[Read more]

I read about him in Dale Beaumont’s book “Secrets of Property Millionaires exposed”.

Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”

How long do you want it to take ? As Micheal said it depends on how well your builder co-ordinates the job ans should be around 3 months. On the other hand if you do a lot of the work yourself while you may save some $$$ expect the job to take anywhere from 3 – 12 months, or longer !!

Amanda
“It is better to be inconspicuously wealthy, than to…[Read more]

Thank you Adam. Easter is a time for reflection and spending time with family, plus lots of chocolate !!
Happy Easter to all.

Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”