I’m not familiar with “Basix” however I do have some experience in doing a removal house. You can read my story by visiting our website.
Here’s an extract of our “Removal House” document:

Removal Houses
Do you love to renovate and enjoy a challenge? If the answer is yes then a “Removal House” may suit your needs.

INITIAL STEPS
Visit your local…[Read more]

Now, Now boys…keep it nice!!

Actually Browney “LA Aussie” has got his hands dirty before, so perhaps you’d like to read his story on our website called “Lemons” which he won a prize for.

Back to the original question though, the problem that we’ve faced with the bank is if you sell a property, even for a substantial profit, they ignore this,…[Read more]

Hi Glasco,

I think Sanjiv has given you a sensible price guide there. To make buying your first IP easier, you can also download for free a “Property Budget Planner” off our website (see below), plus I’m sure you’ll find heaps of other useful information.

AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources

“It is better to…[Read more]

Hi Katz,

A good book to get you started is:
“How Investing in Commercial Property Really Works”
By Martin Roth & Chris Lang
Publisher Wrightbooks,2005

There are also lots of posts on this forum so why not try doing a Search from the Forum menu.

AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources

“It is better to be…[Read more]

Well done Larsont on your first IP.

I’m a little confused though, how can you sell the front house if the subdivision isn’t finalised? Your estimate of 4-5 months for a subdivision is perhaps a little tight. Maybe it would be best to rent the front house as is, with a quick tidy, and use the income to pay the loan while you process the…[Read more]

Hi Devo,

Here’s the tax office download that may help you further.
http://www.ato.gov.au/content/downloads/NAT1729-06.pdf

AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources

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

The following is an extract of our “Record Keeping” document off our website:

We suggest you keep the following records for each investment property:

• Permanent File

• Annual Financial year file

Need more help? Go to our Frequently asked questions

Permanent File
We recommend a Lever Arch file separated into the following section…[Read more]

Yes Richard is based in Brissy but as Krautcan said with email/phone/fax this shouldn’t be an issue.
http://www.propertydivas.com.au/7ProfServ/Professionals.aspx?cmaid=3b9d5965-4e9a-4d69-9254-a9dde01786e5&cmstat=Profall

Alternatively Alex & Cameron Perry (forum members) also have an office in Sydney, here’s how to contact…[Read more]

Problem 1: How do I know which of the 1000s of Financial Planners in this city will be any good?

Look for someone that has experience in property and is also a financail planner such as Richard Taylor, known on this forum as “Qlds007”

As for “Problem 2 & 3” a lot of your concerns come down to needing a solid plan.

There is no Get-Rich-Pill you…[Read more]

Thank you to Tom from Ipswich for submitting his story “Sharon – We’ve just purchased our first IP”

Keep them coming…..

AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources

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

Here’s a link to a document that explains the concept further:

http://www.propertydivas.com.au/EArticles/PDF_Article_3b9d5965-4e9a-4d69-9254-a9dde01786e54639c8f1-56ec-42f6-9d93-8c7604af6d1e.pdf

AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources

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

Hi Marc,

Just curious is your Accountant in Aus or LA?

Having worked in the tax accounting world for some 15 years (and I don’t miss it for a moment!) I know how much pressure staff are under to meet the lodgement deadlines. We would always try to aim for a 10 – 12 week turnaround for our small business clients.
The tax office require the…[Read more]

Hi Wayne,

From the reseach we conducted there was no report that the smoke alarms needed to be checked annually by someone qualified. Certainly a hard wired smoke alarm must be installed by a licenced electrician. Some States did however mention Smoke alarms being replaced before expiration of the service life.
You can test if the smoke alarm…[Read more]

Hi Ana,

Well we haven’t built it yet but we’ve ordered a kit home from Harkaway Homes. They specialise in Classic Victorian & Early Federation Reproductions. We flew to Sydney and inspected the display homes and they are lovely with every detail down to the roof pitch.

http://www.harkawayhomes.com.au/index1.htm

You can also get a glossy…[Read more]

Hi Roger,

Well if there was a way to guarantee 100% success we’d all be pretty happy, but lets face it trying to pick the next “boom” area is not that easy.

First you need to understand at what stage the property cycle is at. By the time a “boom” hits the media, its often too late, the smart property investors have already scooped up most…[Read more]

Yes it is a great prize and we received our first entry today!!

Yes we can certainly post the winning entry here and Steve will make the final judging decision.

If you’re not good at writing a story, that’s fine too, as the best “before” and “after” photo’s are also eligible to win.

AmandaBS
http://www.propertydivas.com.au
FREE online Property…[Read more]

Without any set goals or clear investment strategy it will be difficult for you to move forward. Once you have set, clear-cut goals, they become embedded in your sub-conscience and you will automatically be guided towards your goals through your future thoughts and actions.

Decisions followed up by action to get to your goals can result in great…[Read more]

Yep totally agree, capital improvement but you may be able to claim it under Division 43 (ie. 2.5%).

AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources

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

We have an article on our website about tax structures but I really don’t think you should be making such a significant decision without seeking professional advice from an Accountant.
It really depends on what assets you hold, family & personal situation etc. A few hundred dollars spent now may save you thousands down the track. Anyway this…[Read more]

Hi cruzinbud,

We started the subdivision we are currently working on in Oct 2004 so its been a long haul. You can read a bit more in our monthly newsletter :
http://www.propertydivas.com.au/5Tools/NewsStand.aspx

Each stage takes time. Sound reports, Engineer reports to test if the current sewer/water lines could cope with the extra usage,…[Read more]