What area are you looking at? Sydney's a big place and yes I too know tradies don't want to travel to the other side of Sydney.

I would have thought that would be the first thing you researched before quitting your job. What's your knowledge of flipping? Or have you done a course?

Welcome to the forum. This is a good place to start.

I would suggest getting a few books and also borrowing some property magazines from your library. Reading stories about people's journeys is interesting.

Be careful, it's addictive. LOL

Hi, the house won't cost you $74,880 to buy a $400,000 house. That's how much on top of the $400,000 to buy it.

But that's assuming rents won't go up. After a few years one hopes the rent will go up and it will no longer be CF-.

Negative gearing can be a wonderful thing but remember to get the tax break you need to be losing money. If there is…[Read more]

I have friends with property in the US. One is actually a buyers agent there and is now retired on her rent.

Yes the gross yields are great (and were even more amazing when they got in). But looking into it I couldn't see the point unless you were buying multiple properties. After deducting the fees to set it up, plus the high management fees and…[Read more]

You have a bank that will lend you money to purchase in USA?

Most won't because they can't hold the title.  Which bank?

Can I ask why you are looking at USA? Do you know the values and whether a property is well priced? Prices have moved considerably in the last year. What's your exit strategy?

tigermiger wrote:
To kick start property investing on my own, (without knowing the nitty gritty details), would it be more beneficial to

1) Sell the ppr brought with ex-fiancé and purchase my own ppr or should I be buying an ip and rent instead
2) Buy out my ex-fiancé share on the ppr and live there, save and then try to buy an ip
3) Buy out my…[Read more]

I've never felt the need to do that. If possible I ask other investors who they use. This forum is a good start. 

That looks great Jacqui.

If it were me I'd do that with the view to replacing the kitchen down the track, rather than spend $1,000's and still have an old kitchen.

We had one kitchen we didn't want to replace yet. We painted the doors and put new handles. Cheap and we hope it will give us another 5 years (it's already been 2 and still looks…

Personally I wouldn't bother spending (say $2,000) on it. It looks OK.

Wait 5 years and get a new one. It's not like it's a good quality kitchen (no offense).

Most valuers just do a desktop valuation anyway so won't even see it.

Does the roof need work or are you doing it to improve the look? Of course the roof needs to be sound.

So you are taking the bath out and putting in an extra toilet?? It's bit confusing as you say you are putting a toilet in the old toilet space. Or did you mean the bath space?

I would never remove a bath from a house. You cut out families from…[Read more]

No mention of defence services (NSW). I'd give Fair Trading a ring. He should at least pay rent until you find another tenant (although also liable for releasing fees etc).  

100   Early termination without compensation to landlord

        (1)  A tenant may give a termination notice for a fixed term agreement on any of the following…[Read more]

wilko1 wrote:

I think you should swap your loans around because as catalyst was talking about there is non deductible debt. and dedeuctible debt 

That means that the interest you are paying on your current PPOR (Principle place of residence) is Non tax deductible against your current incomes and rental income of the other property…

I would…[Read more]

OK, I enlarged the print.  

I haven't had good luck with financial advisors and discussing buying property with them. I find most don't get it. First question to the advisor- How much property do you own?

If the answer is not many he/she may not be the best person for you to get advice from. Maybe a good broker would be more helpful. There are…[Read more]

Gave up half way though.

Paragraphs would help read it.  Maybe I'm getting old. LOL

jmsrachel wrote:

But at the end of the day what have I got to lose?  And once I go bankrupt I will be able to claim benefits that you claim instead of working 7 days a week. It’s out of my control so why sit tight and be cautious and wait for something to happen?

If a collapse should happen it would be a blessing for me.

Living on the…[Read more]

But then again maybe the mortgage broker knows Charlotte is over analysing and needs to just buy something (not anything I agree).

Charlotte are you the over analysing type? It doesn't sound like it to me (yet) as it sounds like you are just starting your research.

Some great advice here already. I'd say keep reading and look at want you want to…[Read more]

That's why I asked if it was in relation to a tenancy agreement.  You did not  mention tenants in your first post. It makes a difference to the answer.

So has the heater recently stopped working or needs fixing? If they are both working you could leave it for now.

Seeing you leased it with cooling and heating, you are obligated to provide…[Read more]

Because they are franchised out now you need to find out who you are actually dealing with. I know a few of the people that took up the franchises were former students.

Check their portfolio, strategies etc. Some may be better than others??

It's your place. Do what you want.

or are you asking in relation to as tenancy agreement?

If it's a new lease I'd take the heater out because if it's there and not working they could ask for it to be fixed.