Hi Coota,

You need to work out what the property is supposed to do for you.

No need buying a cashflow property if you are looking for growth and vice versa. If you do use a BA then you need to be able to give them a 'buying brief' otherwise you'll just end up with any old property.

My advice would be to step back and, if you haven't already…[Read more]

Agreeing with Luke – full profit is added into and included as part of your declared taxable income. You are then taxed according to the relevant income tax scale

Hi JP,

Check out the ATO's website – they have a lot of resources for landlords.

The latest guide can be downloaded at http://www.ato.gov.au/content/00313554.htm

Bottom line is tenants breaking a lease will still be responsible for their rent and any costs incurred by the landlord.

Vacancy rate is still below 2% (according to this article anyway) which is extremely low for winter.

Slow news day.

Pet bonds vary from state to state some cases you cannot charge a pet bond. Which state are you in?

Most state governments have a website with tenants/landlords guides. Suggest a search and you'll track down an official guide.

Biggest drawback is the larger mortgage is all non-deductible.

Often this is a big hand brake on wealth creation.

Hi Santh,

Good pick up – the new website must have bumped the thread and then Jac ran with it and we all followed

Hi Morgan,

Successful property investing is more than just simply buying a property as the property you do buy must fit within an overall plan you have developed which suits your goals and personal situation. 

I would start in the residential area first – mainly because your risks are lower and the amount of deposit you need is lower.  Having…[Read more]

Hi Belinda,

Happy to look at your numbers and make some suggestions – you may find that selling down may be your best option but I would need more information before I can make some definitive suggestions.

Happy for you to send me a PM.

BHP's Olympic Dam Project is now 'uncertain'

See article from the end of July, 2012 expressing doubts about whether or not BHP will commit their $30b

http://www.theaustralian.com.au/national-affairs/olympic-dam-threat-as-bhp-puts-brakes-on/story-fn59niix-1226437208652

Your loans interest only?

Really need more information. rent, loan, interest rates, any fixed loans, what your loan structure is, rates, strata etc and so on.

Find out what each property is 'costing' you, what your debt/value ratio is and then determine what you need to do.

Suggest you analyse your portfolio in depth.

It may be that a sale is…[Read more]

Michael 888 wrote:
Could links, hyperlinks open in a new window please.

New site looks fresh and larger font is easy on the eye. Still getting a little
used to the new layout…..haven't been on here here for a while.

By default – in new window. No choice in the matter may be better.

Was your friend self managing and were the bills in tenants or your friends name?

Water accounts for my properties are all in my name – I pay and then get reimbursement from tenants via property manager. If tenant vacates PM does a water reading and retains portion of bond money pending arrival of water authority bill.

I pay the bill to make…[Read more]

Wow – reading that list of what is achieveable through PIT I am sure your phones will be ringing hot.

Use the search button to find out what others have written over the years about each of your five listed towns. The search button is at the top right corner of the page.

If you are seriously looking at mining towns make sure you are extra careful – a few mining projects are 'staggering at the moment'

How old are the kids?

Smaller kids can be moved around a bit but by about 10 or so they do need to start establishing friendship bases.

Hi Mrs Bee,

If you do hang onto your current place and turn it into an IP this means you will be borrowing 100%+ for your PPOR, add to this the possibility your new home loan debt will be significantly larger than your existing debt means that your cashflow will take a hit.

Given you now have a family of three kids you will need to consider…[Read more]

Hi Steve,

At the moment quoted posts appear immediately underneath the original comment whereas the old forum the last post was the last post irrespective of whether or not it quoted someone else.

New format now means I have to try and find the new post in amongst the whole thread rather than just going directly to the bottom of the thread.

For…[Read more]

Miam wrote:
I think we will hold out and just see what happens.

Don't wait – get control of your own destiny.

Write a letter to the agent advising them that your offer will be withdrawn on (insert your own date here).

Put the pressure back on the vendor.

Compare this property to other similar ones in the area. Look at asking price if you don;t want to buy a suburb report from RP Data etc. Bear in mind these are only asking prices so don't make the whole decision based on this information.

Consider normal current selling times in the local area – this will give you an indication of how much you…[Read more]