There are quite a few that offer house and contents and say it’s a landlord policy but you need to read the fine print to be sure you get what you think you do.
From my past checking it worked out cheaper to get house insurance (which includes public liability and some contents) then get landlord insurance separately.
NRMA (I think it was)…[Read more]

Hi Serge!
Do you know if the same applies to the Sunshine Coast?

And is the process easier or more difficult than NSW? (in regards to splitting a house or building a granny flat)

Thanks.

Yes, as Corey said If you speak to the others and find out who is interested then approach some developer yourself you can add many thousands by cutting out the middleman.

Developers pay big bucks to people who source deals for them.

I would look at BInvested as well to see if that suits you. Nathan helped me get started when he worked for Right Group. He’s the nicest, most honest person you’ll ever meet.

I’ve sent you a private message (check up the top of the page).

I meant the right hand side of your block.
if the driveway is owned by council (or energy company) then really they should pay.

I would get the neighbour to contact them first and see if they ask you for a portion.

Is the moral of the story never buy with family?

Yes, and friends.

Ok. That’s clearer. If it was on the right hand side I’d say your calculations were correct.

It’s probably easier to assume your calculations though.

But- Who owns the driveway? Does your land finish at the fence or at your boundary?

If the energy company owns the driveway then they should pay for the fence as it’s half on their land and…[Read more]

Great advice above- just to add.
Be careful that these studios are not serviced apartments. They look very attractive but ongoing costs are very high.

When looking at buying in inner Sydney in 2008 we looked at many studios and apartments. Yes those serviced ones sure did look great and sounded SO cheap. But I’m glad we steered clear of them. We…[Read more]

That must be heartbreaking for your parents.

I doubt the daughter would leave and default on her loan. It sounds like she wants her money. Without strata titling it sounds like thy would have little option than to sell, unless they can borrow the money to buy her out. This may be possible as the rent would help but it may not cover the buyout…[Read more]

I don’t know of any council that will approve a triplex property.

Maybe convert the garage but I doubt you’ll be allowed to do 2 new dwellings. As mentioned garage conversions are tricky because the slab is not usually built to be a habitable room. The dewling on top of the garage is a great idea if you can’t convert the garage though. Speak to…[Read more]

Hi, you are in a great position.

Have you read any property books? If no, start now (and read property forums). If you have, what type of investor do you want to be and what strategy do you want to start with. I say start with because lots of investors start simple then progress to more complicated ventures.

Firstly I would speak to a goopd…[Read more]

You need to decide the purpose of the property BEFORE you buy it. Not, I may do this, I may do that. Be specific about why you are buying
THAT particular property. Some may be to rent out, others may be to sell.

It’s purpose will determine what entity to buy it in.

For example- if I want to buy a property to rent out I may put it in both…[Read more]

Who paid for the fence? Were quotes given before hand? Did you nost discuss it beforehand?

If someone else built it, how much are they asking for?

Your post is a bit confusing.

I did the run around for years with financial advisors and gave up. Any I went to pushed managed funds. Even when I specified property they didn’t really get it. Still kept talking shares or just agreed with what I said about my portfolio and where I should go..

Maybe try a property group in your area. They may give you some insight.

As Jane said- What bits are you renovating? Kitchen/bathroom (replace or do up)? etc etc.

One thing for sure is- you need to start the bathroom early. It takes time- strip out, plumbing, waterproof, tile, grout, put in fixtures. You cannot do it in a day like they show on TV.
Also- unless you want a flatpack kitchen, order that as soon as you…[Read more]

Yes, I agree.
If you have a granny flat but have lost all the yard, maybe not so good. But, positioned correctly and not creating too many negatives for the original property the value should be there.

A separate entrance and yard would have to add the greatest value I think.

Yes of course you need council approval (for ALL of it).

You need to get plans drawn up and get approval to change your house from one dwelling to 2 dwellings.

You will most likely need a firewall between the 2 residences.

If you want to charge each side for water and to have their own electricity you will need separate meters for each.

Do you get the stamp duty exemption on every house you buy as a PPOR? I thought you only got it on your first one? (I”m not up on Qld laws).

You MAY be able to get away with the 6 months as it is still classed as your PPOR. Check with your accountant.

There shouldn’t be a reason why you have to use a particular agency. The fees sound about right. You may be able to get 7%?

Why not ring some of the local ones and talk to them, get their rates and ask about their service. It’s not always about the % fee. You want a good agent. Check out their adds to see if they use photo’s their wording etc.…[Read more]

Why would you get the rent? Are you going to pay the owners mortgage for the 12 months?

You don’t own it until settlement!