I did this once and being a novice didn't do it right.
The owners actually asked me if they could do it (it had vacant possession on the contract). I said yes thinking the same as you.
It turned out they knew the leasing agent who just let it to the first ones who came in. They were hopeless, wrecked the carpet and I asked them to move out after…[Read more]

Have you actually worked out how much you will be saving? If you give a discount I think nothing.
So you get $500? a week early so you will be $500 ahead each week so you are saving $500 x 6%pa = $30???? WOOOHOOOO!!!!

Scott No Mates wrote:
Never been advised to do it – I may have an equitable interest in the property but until full restitution is made (or a massive price adjustment provided) there'd be no way I would be able to settle – 1) bank would pull finance 2) my insurer would not pay out on something that I didn't own 3) property is not in the same…[Read more]

Welcome.
Careful it's addictive!!!!

Scott No Mates wrote:
Having to take out insurance prior to settlement is a Qld thing. Not the done thing in NSW>

My solicitor recommends it (in NSW) as a safeguard really. If the house burns down and the vendor has no insurance there will be issues with settlement. You won't want to settle, they will, lawyers make lots of money.

jmsrachel.…[Read more]

jmsrachel wrote:
Also, you must start paying rates, water, etc from date of contract not settlement.

Not MUST. I'd say can.  Depends if the vendor asks for it.

I just got early access. Paid rates etc from settlement. They even left the electricity on until settlement as they were coming and going moving stuff out.

I always get insurance as…[Read more]

19 years ago!!!  Just had a MASSIVE garage sale and clean up (that was after making the kids take their stuff). Another council cleanup organised for next week. It just goes on and ion and on. 

It feels great though to get rid of useless stuff. I just looked at things and asked "do i want to pack this in a box to take with me then unpack at the…[Read more]

Yeah that's true.

Do you want to take her inheritance?

I think you should be entitled to some due to doing the reno. I know you are talking legally but are morals coming into it?

Double check. I just bought a property that I will divide to make a granny flat. They said let them know when that happens so they can change the insurance. It's not 2 separate buildings though.

Just go somewhere else if it's not possible. Plenty of people have dual occs so someone must insure them. You are insuring the house, not the land so I…[Read more]

If it's an IO loan why is there extra money in there?  You can do it though if the money is there. It is all investment related so no crossover problems.

I have a separate LOC account that all rent goes into and interest (for other loans) and bills get paid out of. I find this keeps everything tidy and easy for accounting purposes. If I need to…[Read more]

I usually ask Real Estate Agents about rental preferences when I renovate. For example carpet, tiles, floorboards, bath, shower, furnished, unfurnished.  Also look at what's for rent in your area.

mattsta wrote:
I personally do not buy at auctions. You have to buy a property fast and I like to research prior to buying. Also, I do no like buying blindly and end up paying higher price than if I was buying privately. 

That doesn't make sense. You have the same opportunity to do research as with any other purchase.

You view the property,…[Read more]

xdrew wrote:
Kevreno … i set up an account for each single investment, though it may be several apartments within the investment. That allows me to keep precise accounting records for each investment, based purely on bank statements. It also allows me to enumerate who has paid and who hasnt paid based on the entry in the account.

For tax…[Read more]

I looked at a unit with a similar set up. The unit I wanted to buy was at the front of the block. The block at the back was high rise with lifts and a pool. I dropped out for the exact reason you are having problems with.  I know pools and lifts are expensive and I didn't want to pay for them.
It would be major to split the strata in two. You'd…[Read more]

If it's all under the one strata then that's the way it is. Sorry. It usually goes on property size.

If it was the other way around would you offer to pay more?

New poster-, first post with a problem.

Another new poster (first post) had a WONDERFUL solution with a recommendation for a company they use.

How lucky!!!!.

haha. We all posted at the same time.

Agents commission is usually 2% + GST. There are some cheaper ones but from my experience you get what you pay for with them.. The 2.2% is of the price it sells for. Most (but not all) also charge advertising costs- $900 to thousands.

You say your partner inherited a house but has to share the money with siblings. That doesn't make sense. Did…[Read more]

If you are renovating the whole place I'd go new kitchen.

We usually do new kitchens. Only one place we didn't. We did carpet and paint. The kitchen was OK so we painted the doors and replaced the handles then put vinyl floor planks. Came up well but we don't expect it to last 5 years. Then we'll replace it.

Only listen to those that have what you want.