1a. The window.
1b. Talk to other tenants in complex. Face to face works for me.

2a. It’s possible.
2b. Face to face works for me.

3. No.

Hi Chris,

The wife and I were going through this exact thing back in ’95. We decided to buy the residential IP’s first and keep renting. The IP’s were as expensive as we could possibly afford at the time.

In ’98 with two IP’s under our belt, we bought our 3rd house which was a small 3×1 brick and tile house on a decent sized block in a pretty…[Read more]

Originally posted by redwing:
Originally posted by Rob_W:
And it’s VERY close to the airport, too. Great for when you’re running late for the plane!

Seriously, is this an issue? I looked up what’s available after reading Ausprop’s comment, and the RE seems pretty cheap. Is this because you’re buying the Perth equivalent of the home from ‘The…[Read more]

Well done Dan on realising part of your dream.

I have to agree however with poor ol’ Ben.

After Mr Carmody and his merry men have had their way with your profits, especially given that contract to contract is less than 12 months, it’ll definitely take the shine off.

I don’t think it’s ever wise to do calculations with properties and put in…[Read more]

Hi dammit and dammit’s dad…

From an earlier post in another thread. Something to mull over…not suitable for everyone.

I reckon two props would be the ideal number.

1. Buy a nice vacant residential block in a nice suburb hopefully with some sort of view for the full $350K and pay cash and get the title deed. No whingeing residential…[Read more]

What’s the dirt worth ?? The answer to that might solve a few queries, and eliminate a few starters.

It sounds residential, so if you can’t chop it up, and tenants won’t pay you any extra to rent it for the larger land component, it’s a dead duck from my view.

Even if you pick it up for less than land value, it’s going to be woefully cashflow…[Read more]

I reckon second hand houses covers everything from a couple of months old that people are flogging off from a new build all the way through to structures that are many centuries old…especially if you are talking about something in say Europe. It pretty much covers almost all buildings, so the standard inspections would apply I’d imagine.

I…[Read more]

I absolutely love old buildings that are cashflow positive. Can’t get enough of them. The rusty old tin sheds I bought are great and the tenants don’t want to go anywhere, having just signed up for a 4 yr term with a 2 yr option hanging off the end of that.

The best thing is these tenants love area for laying their stuff down, and I’ve got…[Read more]

Hi Phil,

Yeah, we did the same to the front and backyard of our PPoR. Bloomin’ farmer was in there before we bought it, renting for over 15 years and went completely nuts planting all sorts of things, including monstrous big trees right near the house. I’ve been chipping away at it now for over 12 months, in fits and spurts, and the improvement…[Read more]

I think the one that most accurately describes our particular circumstances would be “The Basic”.

Thought I would update the forum…

Fifteen days after writing my initial post, the wife called to say she had received a revised land Tax assessment from the State Revenue Office lumping all of the “jointly owned props” in one pile and hence the Land tax bill went through the roof again….substantiating what Benson above has said.

Well I’ve…[Read more]

any suggestions would be much appreciated.

G’day lobochick,

My humble suggestions are the following;

1. Because this is a residential situation, the contract you have with the PM agency isn’t worth the paper it’s written on. The standard contract they make you sign is “not good”, when you are in your situation. There is a reason why the…[Read more]

Would it be possible to post some numbers. Real estate is a numbers only game….without them we are all clueless.

The decision to proceed or not is all within the numbers.

I’m not an accountant but I have read a fair chunk of the Tax Act.

I reckon the answer is no.

The ATO would surely deem all of these things done (whatever they are) to be capital improvements. You cannot repair something back to it’s original state when bought…if you’ve just bought it…hence it ain’t a repair…hence you can’t claim…[Read more]

Hiya willy123,

We’ve got a funky little pad in Guilderton which is right next to a Gabbadah Park….is that getting close ??

Or is there another Gabbadah that I’ve never heard of before ??

suzieq,

Without sounding like a smarty pants, I have no idea where he is located…other than on the end of his mobile phone.

He has done heaps of jobs for us, all over the Perth metro area. I don’t think he discerns between areas. As long as there is a rubbish tip somewhere close, he’ll do the job no problem.

Tell Gary he comes highly…[Read more]

After all of that

Well done Abby – good to see you posting…after all of that…I’m absolutely exhausted just reading what you do…I think you should have a lie down and put your feet up…not start all of the property stuff you have going on. Where do you get all of your energy from ??

Fantastic variety on the forums…do we have any…[Read more]

Leave all sense and sensibilities at home when you go to an auction. The auctioneer and his agents peppered in the crowd are trying to create a farcical show where you the bidders are their puppets. Upset their routine.

Bid as you see fit….all of this “I’ll take your 10 thousand bids.” is a complete crock – slow it right down, bid in ‘000’s,…[Read more]

Is that the same John Roberts as the Chairman of Multiplex ??

G’day grossrealisation…mine would be a two step process.

1. Buy a nice vacant residential block in a swisho suburb hopefully with some sort of water views for the full $ 1 MM and pay cash and get the title deed. No whingeing residential tenants but still get all of the growth…fantastic, and because it’s fully paid off, not missing out on…[Read more]