Thanks Phil – and I thought I was quite competent in English expression!

Anna

Ultimately you will need a good accountant. I would find someone familiar with property investing and such – maybe a phone call to your own accountant or one recommended would be a start.

Anna

From what I understand (NSW) you don’t legally have to pay any holding deposit as they call it, even though we do pay that ourselves as the agent always asks for it. Ir’s just a good faith thing.

You can also negotiate to pay say 5% deposit or whatever the vendor will agree on. It’s then as usual paid on exchange of contracts.

When we have…[Read more]

I don’t know about other states, but the Council rates for our Queensland properties – and these are units – are twice those of our houses in NSW, eg $1200/$660.

Land tax threshold NSW $232,000 last I read.

Anna

We purchased a unit in FNQ last year over the net. The agent was honest enough to tell us that a cupboard in the kitchen had been replaced due to termites and emailed photos. We had a pest inspection done, spoke to the pest man who also treated a tree nearby and there have been no further problems. We will be having that checked again as it is…[Read more]

Hi,

Having used a few different methods to buy, eg. getting a loan outright, borrowing all and cross collateralising, using deposit out of equity L/C, we’re sticking with the L/C, as funds are available immediately to purchase, renovate if you’re doing that and then refinance the improved property. Want all the properties to stand alone.
It’s…[Read more]

Phil, I do a bit of casual work in property management and people often ask if they can have a pet. Most owners say no, but one offered to pay a little more rent.

Actually we have allowed a small dog in two of our rental houses. (no increase in rent though!!)
Keeps them happy and there are polished floors if the doggy happens to come inside, no…[Read more]

Paulee Hi,

Try http://www.onsitedirect.net. They are at Surfers.
Phone 55794100.

We are in NSW and have just sold a property through them at Coomera. We found them to be efficient and helpful. They deal with genuine investors so there is minimal interruption to tenants. Our property was listed less than 2 weeks. Their brochure says ‘the largest real…[Read more]

By short term tenants, I mean a 3 month lease which happened with one of our of our units. At least it was occupied and she paid bond.

Namaste, hope the above post explained a bit but ring an insurer and enquire.

Redwing, maybe $5 a week increase is OK if they aren’t on a fixed lease any more. I’ve heard of a tenant being happy to pay $5 extra…[Read more]

Hi Redwing,

There seems to be a difference between the states.
Our property manager in Qld changed from one LL insurer to another because the cover wasn’t there unless tenants were on a fixed lease. We also have a holiday unit for which we took out LL insurance with no problem.

But then I certainly would not agree to anybody going into one of…[Read more]

Hi Uncivilised,

You asked what is wrong with negative gearing. My thoughts are probably nothing depending on your strategies and your goals and ability to pay.

Just an example though is a townhouse we bought 4 years ago at Coomera, borrowed all and we were putting in over $100 a week to support it. We got caught. Have sold the above, settlement…[Read more]

Hi FatBoy,

No, not from Mackay. Going to Cairns next week to check on the IPs though.

Live on 80 acres – semi-retired, ride an ag quad round this place too, goes well!!!

Anna

Hi Ringading,

See you’re in S.A. If you have the opportunity to go to Peter Spann seminars, even the three hour introductory ones have tips on renovating. Their website is http://www.freemanfox.com.au. You can also buy their videos of the seminars if you can’t go.

It comes down to your budget, whether you are going to live in it or rent it out.

A…[Read more]

Mel, all the accounts used to come to us too but we’ve had them redirected to the property managers. Bit easier on all the paper work at home.

Anna

Hi Celivia,

In NSW, yes tenants pay for their own water usage which is indicated on the water bill – we pay the fixed charges. At each new tenancy, the water meter is read and noted on the ingoing condition report so there can’t be any dispute from the previous tenant. Sometimes though units might not be separately metered and so then the tenant…[Read more]

Hi all,

I would pay off the PPOR, extend the L/C, and keep looking. May sell a couple of cfp units in NQ as well, and put surplus into another house – looked today in our area at one which is not cfp, but a good buy – next door to one we own. Do like the SEQ area and think it will continue to do well for a while yet, but I think it would take…[Read more]

Thanks Fudge – good to learn something new. Not enough hours to read everything.
Anna

I had problems with a property manager in Queensland 6 months ago so asked another agent who managed other properties to take this one over as well. I then emailed the first one that another agency would be taking over the management and the keys would be picked up on a certain date. There was no problem at all, but I did receive a phone call…[Read more]

Hi Westan,

Settling on one in a couple of weeks (was a long drawn out one, not of our doing), selling one which settles early december, looked at one this morning and having a second look on Monday. It could be a reno/sell, money to be made.

Interesting post to see what everyone is up to.

Anna

Bronny,

I certainly saw that program on ACA. Good luck with your property.

Shirley,

I wouldn’t be withour landlord insurance. If the tenant trashes the house or skips, you are covered, to include non payment of rent. If the tenant has a party and the guests cause damage, you are covered for the damage.

Our rental manager for our Queensland…[Read more]