I would have thought overpriced, ie 60-70% average occupancy, 6 flats occupied = 60%. Is there a rental market for 2 br units. As the ad specifically refers to firewalls with the 2 br units, if you are interested in strataing the 1 br units check whether there are firewalls particularly in the roof cavities

I’d second AmandaBS that my experience indicates expenses are closer to 30% than 20%. I also like to have a small buffer to cover the cost of replacing a stove etc if necessary

Are the rents you want in line with the market for that part of Christchurch?

I bought an industrial property a couple of years ago, about 25% rented, low rents. Now fully occupied, rents increased, grossing 33% of purchase price, value at least double original price

Talk to your council. Get an estimate from a surveyor. A lot of older blocks need to improve fire ratings to be able to be strata’d.

Do a search. This issue has been discussed before.

Or does the ATO treat it as two assets:

a. the land

b. the new house

if so there would be two different dates

My understanding (which might be wrong) is that if your employment income is less than 10% of your total income then you can contribute profits to super and get a deduction. Maybe you could salary sacrifice your PAYG income.

There’s an interesting book “Credit Card Nation” that’s worth a read

In NSW there is legisaltion concerning sinking fund levies

http://www.dft.nsw.gov.au/realestaterenting/strata/sinkingfunds.html

Try How Investing in Commercial Property Really Works by Roth & Lang

What banks/building societies/credit unions are in the town or nearby. Try some of these

http://lpi-online.lpi.nsw.gov.au/cgi-bin/lpis/menu.pl

As a general rule you can’t build over an easement. In NSW you can’t build over a sewer main.

Look at what the easement is for and whether you can negotiate to change its location. If the services are already in this would be costly.

In Australia each State deals with the land in its own boundaries and the rules vary eg time required for adverse possession etc. In NSW you can’t get adverse possession of part of a parcel of land.

A definitive work on adverse possession is Mal Park’s PhD…[Read more]

Rather than discount the rent, offer a contribution towards fitout or the first two months rent free. On a commercial property the rent is what gives you your values, so a lengthy discounted rent will affect your valuation

My understanding is that you cannot transfer residential property from yourself to a SMSF. Business property yes. But bear in mind the SMSF cannot have borrowings.

Your PPOR is free of CGT. You are better to use your PPOR as leverage rather than transfer it.

Are you saying the Tribunal is unfair or that the legislation the Tribunal administers has flaws?

If you want an answer you will need to be specific on costs, rents, amounts owing etc etc

The solicitor can only sign the certificate if you instruct him that you are waiving the cooling-off period.

From Dept of Fair trading website:

Cooling-off period
When you buy a property in NSW there is a five business-day cooling-off period after you exchange contracts. During this period you have the option to get out of the contract as long…[Read more]

Yes, agents should be better at determining values (or more honest with sellers and buyers). Some are excellent. My wife and I sold our PPOR earlier in the year. The agent gave an appraisal. Range of appraisal was $4,000.00. The appraisal was about 15% higher than our estimate of value was. Agreed sale price $1,000 below range. Excellent…[Read more]