Rudy,

OK, I missed the second part of your question.

The ATO simply asks the question “What was the purpose of the loan and, if it was for investment, does the investment generate assessable income ??”

In your circumstances the loan’s intent is for purchasing an income producing property and hence all of the interest component for that…[Read more]

Rudy,

G’day and welcome to the forum.

I would recommend you have a look at the properties as an entity….what you have there is the classic ‘cordial mix’ that the SS Qld lady often refers to…have a read of some of her books.

Unless the new +CF is outrageously positive, the overall net effect of all of the properties will still be a…[Read more]

Hi,

Sometimes the tenant may ‘do up’ the premises specifically for their business operations. This renovation can sometimes be quite expensive, and there is an agreement put in place between Lessor and Lessee that the Lessee can have reduced or no rent period in lieu of having rejuvenated the Lessor’s premises at their expense.

It’s simply a…[Read more]

Sana’a Yemen

It’s a bit higher than the peak of Mt Kosiousko – air is pretty thin and dry up here.

I have the bin Laden clan as next door neighbours…on the other side are the CIA watching the bin Ladens…the same chaps who activated that drone aeroplane and killed a couple of people two years back…we don’t have street parties.

You’re…[Read more]

Excellent thread Yack, well done for pushing it…

2004 :

1. Recovered from a fairly average position in Feb, where we found ourselves with no job, no home, no car, no school for kids, no bank accounts. Lost waifs in a big bad world.
2. Found rotational employment overseas.
3. Got the kids back into school.
4. Moved 6 times…a tad…[Read more]

KJW,

To specifically answer the questions you posed;

1. No you are not.
2. No you should not for screening purposes, but obviously yes for actual accounting purposes once you have bought.
3. Instead of starting the question with a ‘where’, swap that word for a ‘what’.

It’s probably driving you nuts because you are confining your search into…[Read more]

Marisa,

IMHO Mandurah has some remarkable attributes (beach / esturary etc) which are driving it’s growth.

Being contrarian investors we decided to go the opposite end of the spectrum and bought a lil’ ol’ shack at Guilderton which is the meeting point of the beach and the mouth of the fresh water Moore River. Lotsa growth here too, but still…[Read more]

royalty,

As per my previous feedback that you flippantly brushed off as being an English lesson, you shall struggle to glean intelligent responses to a clutch of statements / data / questions all thrown together into one massive, 25 line sentence that is impossible to comprehend.

Unfortunately, all we have on this forum to communicate with is…[Read more]

Royalty,

I apologise profusely but I only have one star….therefore my comments are probably not relevant.

Could I suggest (remember it’s only a one star suggestion) that you itemise your data into a readable format and clearly enunciate your specific question. Vagaries don’t hit the mark.

Without question that would have to be the longest…[Read more]

Hi 3MR,

Only you can answer that question….IMHO it will depend very much on exactly what the following entails, which you haven’t detailed;

“our family” – does this mean wife and one child or 7 kids plus granny ??
“our money” – does this mean $ 20K or $ 2MM ??

Given that you say you have no experience and don’t know where to start, I’d…[Read more]

Unannounced,

I don’t have the time or inclination to question why State Legislatures make up the laws, or what the over-riding intent was regarding drafting the laws.

As investors, isn’t it best to simply find out what the relevant laws state exactly and then devise your investment strategy in accordance with those written laws ??

I fail to see…[Read more]

Dan_76,

I presume this is a bog standard O&A format.

If so, how about wrestling control from the vendors agent and actually writing up the offer like you want it…after all, that’s why they call it an offer…it’s an offer by the Buyer to the Vendor.

Don’t let the Vendor’s agent dictate to you how you construct the offer. That line of thought…[Read more]

What’s the CG been on the prop for the past 10 years ??

What are you expecting for future CG ??

If the place is really cheap, I imagine the “ins and outs” would be a large percentage of the purchase price…growth would have to cover that as well otherwise aren’t you going backwards ??

Have you factored in your ‘time’ costs, or does the place…[Read more]

Jill,

Good luck…getting involved with other people’s personal lives…and hitching your financial well being to those “goings on” which you have absolutely no control over is pure madness in my opinion.

Tenant being pregnant is one, but there is a thousand and one excuses why your rent doesn’t get paid and the house is a mess;

I split up with…[Read more]

Hi Sonja,

I always find these “Who’s responsible” tussles between Landlord and Tenant amazing.

The logical answer is all based on our ‘perceived’ frame of reference, what’s the “norm”.

If your background was RIP’s (residential) you would automatically assume it is the Landlord’s responsibility – fair enough.

If your background was C&IIP’s…[Read more]

Hey Rick,

Nothing like having a solid plan in place and having performed solid research on the subject before taking the plunge….good luck with your endeavours.

On a positive note, you are an inspiration to all of the folks out there suffering from ‘Analysis Paralysis’. Step up to the plate and have a crack at it.

Let us know how steep the…[Read more]

Ellie,

My advice would be to do the following;

1. Grab anyone / everyone you believe is impartial and experienced in property.
2. Both / all of you get in the car.
3. Drive up the street 50m and do a Uuey.
4. Slowly drive up to your place and stop outside the front of your place.
5. Analyse what you see from the carseat perspective.
6. Buyers…[Read more]

Brian,

Welcome to the forum. I’m pretty new myself so here we are….

I’ll have a stab and say that you have yourself a 5 year lease, with 2, 5 year options. That means at the end of the 5 year lease, the Lessee (tenant) has the right – but not obligated – to extend the lease for a further 5 years at some pre-determined terms and conditions…[Read more]

M75,

Ah – my favourite subject – land tax !!!! One that most of the property gurus like to brush over as being just a price you need to bear…bugger that.

I remember reading something from a famous Qld lady when she brushed it off by saying, “It’s small in comparison to the overall scheme of things and it’s firmly entrenched in the State’s…[Read more]

JCLS79,

I’ve always found in the past showing the building report to the vendor has absolutely no affect on them whatsoever.

I do the report for my own knowledge now – obviously accompanying the builder as he does it to get maximum value out of it.

In terms of what this has to do with the vendor, the result of the report should determine…[Read more]