Hi Evo,

Have renovated both houses and units. Found that fresh paint and floor coverings are a big improvement, floor coverings being whether polished boards, carpet, laminated flooring, cork, tiles, but all done to suit the property, area, type of tenant.

Also we have changed light fittings in a couple of units and houses and this has also…[Read more]

Hi Mikeej,

I would certainly speak to an accountant who knows property investment. It depends on your strategy too, whether buy/sell or buy/hold. We had a meeting with our accountant only last week and realised a couple of our properties would have been more beneficial to have been in partner’s name only as highest earner, wrong advice from a…[Read more]

Hi Gengis,

The S/D is a big expense for sure, even bigger when there are multiple properties. And we all have to pay, but you have taken the plunge and become a property owner – congratulations. Maybe a review of S/D that we hear talk of from time to time will happen but we wont hold our breath!! S/D is less on Queensland property purchases.

Anna

Well said Mus and Wil. We also don’t have the time to manage investment properties ourselves as there is a huge amount of paperwork/computer work in just keeping things up to date so next year’s tax is ready on time.

Just my thoughts, but even though I work casual in property management, I am more than happy to have all our properties…[Read more]

If you ring Cameron Bird they will send you their latest project with estimated income for the property and what depreciation can be claimed, etc. resulting in the cfp. You can get on their mailing list. We’re going to Cairns soon and will probably have a look at what they have there.

Anna

Go to the newsagent and buy the project and kit homes magazines. They have heaps of designs and prices for all types of homes, single, split level, 2 storey.

And yes, they do give their web sites. This particular mag is called Build Home and the web site for it is http://www.buildhome.com.au. They have a WA advertising manager.

Just looking at a…[Read more]

Hi Actube,

Welcome to the forum. I spent about an hour on the net last night, realestate.com and found a few properties under $80,000 and as some of the other properties in the area stated what the rental return would be, I would have a reasonable idea even though it might not always meet the 11 sec rule. I usually then ring the agents and ask.…[Read more]

Hi Jmskim,

I also recommend you read everything you can on real estate investment and possibly a good idea would be to invest in three of Robert Kyosaki’s books, Rich Dad Poor Dad; Retire Young and Retire Rich; and Guide to Investing. They’re a great start and really motivating. You might even catch one of his seminars in the US.

Also pick…[Read more]

Hi Abbee,

We have used KRG Conveyancing, Gold Coast Branch, and service is excellent. They keep in touch with everything that is going on by phone as well as by mail.

I would go with a broker from this forum, they’re very helpful and willing to answer any questions uou might have. And I guess they are investors themselves, so know what you want…[Read more]

Hi Nathan,

We have a 2BR holiday unit in FNQ from which we get pooled income. It is managed by a good onsite manager who paid considerable money for the management rights – it is his income and he is there working you may as well say, 24/7. We paid $95000 for the unit (includes all furniture, whitegoods.) The income is seasonal and can range…[Read more]

Everdine,

Mightn’t be a bad idea to weed and mulch the garden area so it looks good and fresh. Then the tenants can put their own potted shrubs around and take them when they leave.

The last place we did was neglected all round, so we weeded and tidied the garden beds which were edged with bush rocks. We ordered a big load of cyprus mulch…[Read more]

Hi Lee,

It would be a great way to go, to renovate and flip a few. We have some acquaintances who have done just that, and they have done very well over several years.

We’re located in Hunter Valley – prices have gone up here like anywhere else & it’s getting harder to find locally. Missed out on a house about three months ago, was going for…[Read more]

Hi Nathan,

I agree with Bill in that size of the unit may be a problem for future sale or refinancing. But on the other hand, our daughter has had a similiar size unit in northern Sydney suburb for about 7 years, never untenanted. Good block with heated indoor pool. She recently sold a smaller 1Br with 2 balconies which were a great advantage,…[Read more]

Hi Alf,

I remember at one of The Investors Club meetings a few years ago, someone said something like ‘I rent my son’s property, he rents mine and we both have an excellent tenant’. Seems to make sense if it is where each wants to live and you can always change back if it isn’t working out.

Anna

Hi Steve,

Our accountant claims for all of the above. We have a wide enough margin on most properties that they are still cfp after taking such costs into account.

Anna

Thanks Lee,

I would really love to do some renos in rural towns after research etc. Sounds like Montrose is doing fantastic work. The only thing would be that we would have to live/camp in the place if it was some distance away and also it would have to be done quickly, the sooner it is finished, the sooner it rents. The house we renovated a…[Read more]

Hi Gracey,

You certainly don’t appear stupid – there’s a lot of learning in property investment – most of us learn something every day whether in property investing or life in general.

When you click on the I Agree when you sign into the forum, you will read what the Moderator does, in other words, moderates or oversees what goes on the forum,…[Read more]

Hi Lee,

just wondering what you mean by rural properties. Are they properties on say 2, 5, 10 acres or more. Came across a property on 5 acres which needs fairly cosmetic reno, that is painting and carpet, and the grounds tidied up, old sheds removed, driveway improved. There is such a demand for rural property at the moment. We live on a larger…[Read more]

Just a thought, why not get a map and look at towns/areas say within 100km of you so it’s a reasonable drive if you want to have a look. Do some research of the town and the properties available in the town on realestate.com, or other sites. Ring the agents, if you think a property sounds OK, ask them what sort of rental if would bring, what…[Read more]

With one of our properties we have owned for nearly 4 years, the onsite manager increased the rent each 6 months by only $5, and the tenants didn’t complain. There were a couple of changes of tenant and the last people have renewed at the $5 increase.

Tenants sign a lease for X amount of rent for X time. During the lease, the tenant can be…[Read more]