Must be a big fish to need a ute.

Hi William,

Your information is not quite correct and it is a little more complex than your friend's explanation.

The price you pay for an investment property is no different to the price you pay for a property to live in.

When you own a property you will need to pay for expenses such as rates, insurance, loan interest, repairs and so on. As a…[Read more]

No problems – hope it works out well for you.

Hi Rob,

Not a broker so I'll leave the ins and outs of finance to someone more suitably qualified.

One common theme running through many banks at the moment is the need for 'pre-sales' – with 50% pre-sales being reasonably common.

Hi Ryan,

I would organise a depreciation report (or at least speak to someone who can advise on the benefits you may achieve with a depreciation report.

You'll find any depreciation claims available to you will be apportioned over the period of time the property is tenanted. For example if the property is tenanted for 50% of the year then you'll…[Read more]

Dubstep wrote:

 any advise please ?

Rent the plate?
Buy the plate on vendor finance terms?
Claim use of Dubstep as breach of copyright.
Nick it?
Trade your wife for plate?
Place Caveat on owner of plates home until your plate is returned to its rightful owner?
Hold car owner's partner at ransom until your plate is returned – mind you this…[Read more]

Hi Ryan,

Not across all of the ins and outs of FHOG but my understanding would be as follows:

The two issues should be looked at separately.

1. You must adhere to the FHOG and reading your plans it would seems as if you have plans to do so. The FHOG is administered at the state government.

2. The tax deductibility is a commonwealth matter and…[Read more]

opee wrote:

Thanks derek.. He only charged me management fee and Annual Service fee But no letting fee.

But annual fee was charged annually with everything covered. But i still dont think it was fair anyways I have got a new manager now which is good

Certainly looks like was double dipping.

Hi KG,

If you have trouble 'controlling yourself' you might find it beneficial to set yourself some time lines. For example. 

I will spend three months learning about property investing.
I will spend two months finding a location.
I will spend two months finding out about the area.
I will spend 2 months finding a property.

obviously I have made…[Read more]

Hi Joe,

You could be right. For me there are so many questions that arise from the article.

1. Did PM tell owner?
2. Was the rotten piece previously repaired?
3. Was this a new piece of rotten deck?
4. Was tradie qualified?
5. Was there a tradie?
6. Did owner want a cheap patch job knowing the deck was unsound?

And so on.

It will be…[Read more]

HI Opee,

Sounds like you can write this one off as 'tuition fees' – when next negotiating any agreement just remember all fees are negotiable. Most states have websites run by the state based Real Estate Agent Industry or Consumer Affairs which detail what fees are typically charged in each state. 

See if you can grab yourself a copy and have…[Read more]

Hi KG,

http://www.reiwa.com.au has stats for all areas in WA.

Mind you WA is probably not on your radar. But someone else may have a use for the information.

Hi Northy,

How long has the agent had the property and where is it?

Hi Opee,

Recommend you re-read the property management agreement you had with this company. Their fees and charges will/should be detailed in that.

Some agents typically try and charge two weeks rent when there is a change of tenant. Did your tenants move out?

Many agents will try on re-lease fee if the same tenants remain in situ but on a new lease.

Hi Pro,

What I have to say may sound a little harsh – but what have you done about this.

In your original post you said the PM was going to speak to the boss – two months have since elapsed and no action. Did you follow up? Some of the blame for the delay/s appears to rest at your feet too – after all you, also, have repsonsibilities.

You need…[Read more]

Hi Joe,

Post #8 has a link to the Property Observer article which included an analysis of all state capitals. The information you are after is in the link.

Hi KG,

No need to be hasty – the decision you make will be around for a few years so don't be overly fussed to sign something ahead of time.

Don't forget there is something in between 'needing renovation' and 'brand new' – that is property around 5 yrs of age. After 5 yrs you will get a pretty good feel for how an estate/area will travel and how…[Read more]

Hi Tracy,

You will need to ask them questions. Key thing is to know a little yourself so you know which questions to ask and what is a reasonable answer. This is where your ability to detect misspeak will come into it's own and you will need to dig a little deeper than maybe would otherwise be the case.

I would be wary if the list of references…[Read more]

Hi Tracy,

Get lists of previous projects he/she has managed & see if you can contact the owners of those projects for references.

Do a google search.

Hi Jer,

There are a number of BA in Perth. Some of the more reputable ones seem to be (in no particular order) Hegney's, Momentum & Property Wizards. I haven't used any of them so I cannot comment first hand on them or their BA services or costs.

Unit V House is one of the perennially debated questions surrounding property investing. There are…[Read more]