Nigel Kibel wrote:
I would also suggest a new agent. The problem is that the agent whether they mean to or not will also have a negative attitude about your property. I am not knocking the agent its just human nature. A new agent will take a fresh approach and will also have a more positive attitude. When I was an agent it was always interesting…[Read more]

Hi Kris,

One of our properties was very suitable for the student market – 3 bedroom place.

When we bought it (mid year) we put the tenants on a lease which was due to end at the peak rental time for students. In case this was Feb/Mar.

After that we insisted on 12 month leases so expiry fell at the new university year. Worst case scenario would…[Read more]

HI Kirk,

Not an accountant so take what I say with a grain of salt.

You are allowed to vacate, and rent out, your home for up to 6 years without incurring CGT provided you do not own another home. N.b. There is a 6 months transitionary period if you try to sell one while moving into another.

So having said that my understanding is your Adelaide…[Read more]

Aside from possible wrong price it would also seem that the unit is/appears small.

Can you remove some of the clutter (excess furniture, chairs, kicthen ware etc) to make the place seem more spacious?

What about a change to lighter colours to make the place seem larger?

Having curtains and blinds open?

A couple of strategically placed mirrors…[Read more]

Some accountants are reluctant to do the variation – so see how you go with him/her.

The form is relatively easy to fill in if your income situation is relatively stable and predictable.

saintmick wrote:
good question. I guess property will help fund our retirement.
I want to know how people buy 8-10 properties and make a living from them? Are they all positively geared?

Hi SM,

You still haven't answered the question – don't panic as many would be property investors haven't really thought this bit through.

Basically there…[Read more]

saintmick wrote:

I am new to investing and i am wanting to set up a portfolio to set me up for retirement

How do you see property 'setting you up for retirement?'

The answer to this question will help you determine what property investment strategy (ies) you should employ.

smartcube wrote:

I want to have some help/suggestions as to how do i setup my loan account to suit the best outcome for me. plan is to buy a another ip/own house in next 2~3 months time.iam on high tax bracket.

Given the purchase of a PPOR is likely make sure you set your loans up properly from day one. Really important you have a good…[Read more]

Hi Smart,

You are now at the stage where you need to get a good broker as part of your team.

A bank's first priority is always to the bank – not you. By comparison if you get a good broker on your team they will help you build a finance structure for short and long term. A bit like building a brick wall – get the foundation right and stands…[Read more]

Hi Chris,

Not across all aspects of NSW RE tenanting laws but my first thoughts were you have been spun a line.

If the tenant is currently on a periodic tenancy give them 60 days + 4 days delivery notice of a rent increase as soon as you possibly can. I suspect this can happen before you take ownership – but seek some professional counsel on…[Read more]

Dancing girls?

Hi ML,

The zoning is generally the sole determinant of how much a bank will lend. Activities on it will have negligible, if any, benefit to a borrower.

If you do start making money on the land it is possible that you will be able to negatively gear the land. Having said that the ATO does like to see some legitimate business activity taking -…[Read more]

You will need to give the tenants a notice of rental increase.

In most cases this notice is around 60 days. I am sure you could give that notice once the property is unconditional and your ownership is locked in. (Terry ?) It may be that you will have to sign a property management agreement with your property manager before they will issue the…[Read more]

Hi Terry,

Some website have a lot of bells and whistles to disguise a lack of substance.

Zoning can affect the LVR banks will lend on.

Banks generally see rural property as greater risk and therefore will lend at a lower LVR. Not all banks are the same and not all rural areas (postcodes) are the same.

Land area can also play a part.

This is where a broker comes into their own – they can, without doing any formal work, tell you what…[Read more]

Hi TheRock,

"If I aim to purchase 2-3 low cost properties in 2013 and have them all paying for themselves I would then try and tap the equity and develop the block and build in Ipswich. In parallel I would have another 12 months paid down on tax debt which would have me in a lot better position financially as well."

When assessing your borrowing…[Read more]

renel wrote:
Ok so $10k on hand is ok then. Cheers everyone

I assume you have arrived at $10K based on Jacs (?) comment about three months.

While three months may be OK for Jac you do need to consider what is right for you. Typical selling times also come into play.

Let's just assume for a minute that the wheels fall off your life and you…[Read more]

Hi Songrad,

Certainly worth doing your PAYG Tax Variation now. If you have ordered your depreciation report and it is not far away then consider waiting until the information arrives. If the depreciation report is still some distance away then you can submit a PAYG variation request now and then update it when the report arrives.

Either way you…[Read more]

kong71286 wrote:
propertyinvesting.com

Where do I find propertyinvesting.com ?

So many on the market.

Finance difficulties (as per Richard's email above) mean the number of buyers can be reduced.

You may also find that when things get financially tough then the holiday house on the beach is often one of the first things to go. Given sentiment around the country generally seems to be wallowing in its own sorrows at the…[Read more]