Well done to you both. Make sure you have a “walk away price” and stick to it. Don’t use emotion to buy, as there are other deals out there. Please keep us updated
Fingers crossed.

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

Yes Termites are a huge problem in Qld. I assume this is slab on ground ? How old is the house ? Was it treated when built as it should be Ok for 7-10 years I think ?
They build a trench around the house and drill through concrete in order to create a complete barrier. It is recommended that you pave over where they have trenched for maximum…[Read more]

Yes we do care, and I also remember you find it hard to read the small print
Happy 2006

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

I suggest you keep a “Master File” on each property that records Purchase details, Legal Papers, and Capital Gains tax records etc.
Then each year have an annual tax file to give to your Accountant which should have details for Income (rent) Expenses (Advertising, bank charges, PM fees, electricity, body corporate fees, rates, land tax,…[Read more]

Try reading “How Investing in Commercial Property really works” by Martin Roth & Chris Lang. Available at Dymocks for $29.95
Best wishes,

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

Try buying the book “Australian Residential Property Development” A step-by-step guide for Investors by Ron Forlee. I bought it at Dymocks for $29.95.
Good resource and explains how to do a Feasibility Study, Prepare DA , Ideal sizes of rooms, car space etc.
First you’ll need a contour and site survey, soil test and then take you ideas to an…[Read more]

I use to work in tax accounting (15 years) and back in those days you couldn’t transfer any asset into a Self Managed Super Fund that the trustees had any interest.
Where do you live ?
Do they have cash in other super that could be rolled into the new SMSF ?
What are you trying to achieve by putting the assets in the SMSF ?
If you’re trying to…[Read more]

Maybe you need some new glasses ? ***

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

Thanks Redwing for the great link. It will get me started and I can modify from there.

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

By talking with the agent we discovered it was a property settlement (divorce) and due to Xmas looming and everything closed he wanted a result. Two contracts had already fallen over and he was desperate. The house was listed at $159500 we offered $130000 but then increased it to $135000. Deal done in one hour.
We’ve only been inside once so…[Read more]

I just finished reading “Secrets of Property Millionairs Exposed” and they all say they list personal and financial goals but offer no actual practicle examples. I too would love a “template” to get me started.

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

We like to start with an empty shell, order a skip and demolish everything unwanted up front. Its easier to imagine the finished product without any clutter. I agree with Fern but we prefer to leave the final floor polish and new carpet until last. No need to outlay funds until you’re ready to sell/tenant. With your Electrician and Plumber…[Read more]

Keep reading and learning. The deals are out there you just need to be a little more creative and make low offers. Here’s a few ideas for you : Can the rent be increased by adding value to the property through a paint and new carpet ? Can the house be changed from 2 to 3 bedrooms and therefore getting more rent. Can the land be subdivided ? Can…[Read more]

Yes I do have experience in relocating a removal house. We moved a house from “Kerry M Ryan Quality House Removals” at Minden. Its a huge job and requires the house to be re-engineered, re-plumbed, -rewired etc. to todays building standards. You must first apply to the local council to move the house and they will send out an inspector to…[Read more]

Good advice from Richard here. Beware subdividing takes time (min of 2 years) and then there’s water, sewerage, council fees, engineers, surveyors and the list goes on….

AJBS

Maybe it was a white chocolate cheesecake with berries??

As posted by Dr X

I was at a birthday party last night, the cake came out and the host told the 15 people there that it was chocolate cheesecake. When they served it out, it was pink with berries in it. OBVIOUSLY NOT CHOCOLATE!!! What astounded me was peoples reactions, they kept believing…[Read more]

Will use existing equity for a deposit. Upon settlement we’ll give the place some TLC and appoint a PM

AJBS

Looking forward to you next post. I’ll show you mine if you show me yours !!

AJBS

Why didn’t you do a presettlement inspection ? You could have delayed settlement until the tenants were out.
We learn through our biggest mistakes. Lets look at how to fix it.
You’ll need to firstly give the tenant written notice to vacate and if this is not successful take legal action in the Magistrates Court via a minor debt claim. This…[Read more]

We use Elders Insurance and they can cover damage by tenant and rent default along with the usual building & contents.

AJBS