Hi Goldies,As Jamie has said – they can be revised.Key issue is to stay composed in discussions and only use current comparables. Would also be to your advantage to have evidence of the errors (as stated in your post) so you can show the bank.

Hi Maramac,Cannot give you a name but………………………………….Check google or phone book for licensed valuers in your area.Give them a ring to see if they have someone who can do the job and if not who would they recommend.

HI GW,Ahhhhh – I now see the confusion. The term PPOR is a term only used for the place your reside in and own (or are paying off) – so really you are not living in your PPOR but are simply renting. CGT is only calculated and levied upon the sale of the initial block of land. It will not be payable when you move into the house currently being…[Read more]

JayDee26 wrote:
How would you know 'how much' you can claim when filing tax and how much items (such as carpet, curtains, wall paint..if this counts) has depreciated by?

HI JayDee,Make sure you contact a depreciation company to get a report done. The amount claimable can be up to 65% of total purchase price. Depending on the type of building I…[Read more]

Hi Tiger,I really don't know enough about your situation (age, income, long term plans etc) to pass detailed comment but reading your comment above it would appear as if you are on the right track now BUT it also appears as if 'saving tax' is still your primary focus. I would like to see you change the focus to 'making a profit' first and then if…[Read more]

Thanks for that – this time will be different

Hi Richard,Interesting comments you make. Quite different to the way the possible entry of Japanese banks was promoted as that of bringing more competition, better options for borrowers etc. Or was that just my hopeful mind going into overdrive again?

Hi Tiger,FWIW – here is a link to Herron Todd White's summary of where they see the respective market. You'll notice they have Melb listed as a declining market. http://www.htw.com.au/Downloads/Files/231-January-Month-In-Review-Market-Indicators.pdf

HI Tiger,Not sure where you get the 'likely to give 4% growth figure from" as growth is not predictable. Median house prices in Melb went from $40,800 (Dec 1980) to $565,000 (Dec 2010) which equates to a long term growth rate of approx 9%/annum. Now this is not to say a similar result will be achieved in the next period of time. Source REIA.The…[Read more]

Hi Oceans,Emergency Services is a terrific service industry and I must admit I don't know salaries etc or job prospects but if you are alwyas limited by a 'low' income you may need to get creative in order to keep the income and growth coming in along the way. Given you are a low income earner this would suggest negative gearing is definately not…[Read more]

Hi Mackka,Therein lies a problem – not all experts are created equal and sometimes differentiating between the two is a challenge in itself. Pretty important your broker is also a property investor too. Be wary of those branded mortgage broking companies – some of them are really just loan wirters. Bit like those multi-national tax return…[Read more]

Hi Mackka,Out of curiousity – were your loans done by a bank or a broker?My experience and that of others I have worked with over a number of years is that banks are very certainly looking after their interests. As an investor I recommend getting a good broker on your team and if you 'must' work with a bank make sure you know what you want and…[Read more]

Hi Mackka,Definately step back to move forward – grab Richard's offer and review your current structure.While you are at it you may find there are other 'better' lenders out there for you and your situation.

Hi JayDee,You actually asked for more than just a repsonse about subletting. See quotes below.

JayDee26 wrote:
1) The strata to this place is $1600 / annual, along with the council rates of $800 and water being $460 per annum. The rental estimate according to the agents is between $350-$380 per week. Is a strata of this high amount normal for a…[Read more]

Hi JayDee,I would like to include rent return assessment in my response.What is the asking price?

Might be something of use to you at this website too. http://www.commerce.wa.gov.au/consumerprotection/Content/Property_renting/Renting_and_tenancy/Landlords/index.htm

Hi Ryan,From the ATO's Rental Guide"If only part of your property is used to earn rent, you can claim only that part of the expenses that relates to the rental income. As a general guide, apportionment should be made on a floor-area basis, that is, by reference to the floor area of that part of the residence solely occupied by the tenant,…[Read more]

Hi Victoria,Not a broker and would strongly recommend you find a good one. You are right about banks considering rental income in their sericeability calculators – and some banks recognise a larger percentage of your expected rental income than others. This is one reason a discussion with a good broker is invluable. In terms of moving forward &…[Read more]

I assume  you have building with landlord insurance coverage. If so you should also have public liability coverage too.Dispute over bonds will be heard by the relevant authority. If your property manager has good reports, pictures etc to prove why the bond (or part thereof) was retained the tribunal should rule in your favour.Exactly how are you…[Read more]

Hi Pat,Not a broker so take what I say with a grain of salt. 1. Convert existing loan to interest only so you are no longer paying any of it off.2. Add the money saved above to your $60K nest egg while you find our preferred new home. 3. Establish line of credit secured by existing investment property. Note this will not be tax deductible as the…[Read more]