Hi Mick,While you have some time on your side – time can quickly eroded and it then becomes your enemy very quickly. Serioulsy I have lost count of the number of times people come through the door with 5 year s left to work who suddenly decided they need to buy a property becuase they plan on retiring soon. If only they had done seimthign sooner.…[Read more]

Off the top of my head PMs who1. Forget they are employed by the landlord and not  the tenant.2. Are  not proactive in rasing rents & attending to maintenance requirements.3. Are not in regular touch with landlords. (LLs should also be proactive on this too)4. Allowing tenants to go periodic5. Being reluctant to get quotes for work to be d…[Read more]

What are your plans?What are your ages?How old are the kids? Will there be additional education expenses for them soon?What is career stability situation?How are you going preparing for retirement with/without this property?I often find people focus on the property rather than considering their whole situation. Spend a little time addressing some…[Read more]

Boy – got the full range of opinions there. I suspect the diverse opinions may be a result of different people within the same organisation. An issue with service organisations can be who you speak too.

Hi Savannah,Really need to know what your taxable income is before doing such an exercise. Your taxable income determines how much your deductions will be. Simple rule. Your gross taxable income + gross rental income = updated gross taxable income.Eg Earn $120K income + $30K rental income = $150KFrom updated gross taxable income deduct all…[Read more]

My opinion – for what it is worth.I suspect we are in for a 1/2 year period of little or no growth across the 'market' in the broadest sense of the word. As such 'buying off the shelf' through real estate agents and marketing companies will be a slow road to success. Those wanting to speed things up a bit will need to look at adding value/cashflow…[Read more]

People often buy off the plan in anticipation of growth in the intervening time period. Clever marketing mixed with naive investors and home owners are the reason some complexes sell quickly. But big risks involved.You are locked into the contract as soon as finance is unconditional, banks rarely (if ever) go unconditional without seeing titles…[Read more]

Hi Racmike,Sounds like the property is negtaively geared (or you are using depreciation claims to improve the cashflow) – if this is the case you are better off with the ownership structure you have. It places both names on the title, maximises security and cashflow.Increasing ownership to 100% makes stuff all difference in terms of your cashflow.

You haven't divulged the nature of your business – but I suspect some businesses may be more suited than others to use of telemarketing companies.But having said that, I would endorse Richard's comments wholeheartedly – provide good service to the clients you have & they will refer (cheapest form of advertising on the planet). IMO there is no…[Read more]

Been away for a week at a live in Incident Management Leadership conference. I moonlight as a bush fire control officer in my 'spare time' .Caught this article in yesterdays online paper  http://www.perthnow.com.au/business/business-old/hunger-miners-chomping-at-the-port-pie/story-e6frg2qu-1226161580458 – it might add to the discussion.Someone…[Read more]

charlitayla wrote:
I was looking at buying at Goomeri area, do you think its wise I am a bit worried about been able to rent it out all the time. but i dont have alot of money to spend.

Sometimes it's OK to wait, put your head down & tail up and improve your financial situation before investing. Not a sexy comment but it genuinely can work.…[Read more]

Hi Investhut,The ATO will only allow a deduction if the money is for investment purposes. As Jamie has said if you took some of the money and used it as deposit money for an investment property then the sum of money becomes deductible.Now I am not a broker or an accountant but there would be paper trail and security advantages to setting yourself…[Read more]

HI Samson,The guy who did your pre-settlement inspection. That's the guy that needs to be chased up as well.

Ouch!I would be getting the work done and also trying to track the 'inspector' down.If he was licensed he should have professional indemnity insurance (is that something inspectors carry?)

Hmm – so old property with dodgy workmanship?Suspect the plumber you had out is just 'doing his job' reporting the lack of septic tank. Shame the first plumber wasn't so professional.Still recommend you phone HIA and speak with them. In my experience departments are happy to help people if the lines of communication are open. So engage in dialogue…[Read more]

Hi Alex,No-one really knows how any area will go in the future – your knowledge of the area will give you some clues.But as for your existing property.Normally buying for the long term is the key to wealth. You have now had the property for 5 years so you could reasonably have expected to have received some good profits to date. When determining…[Read more]

Hi Simone,Before you go too much further I would also recommend you speak to a good broker (particularly one who has IPs themselves) – getting finance for developments is not an easy walk in the park, particularly if you are a novice. Banks are risk averse and there may be some restrictions on what you can and cannot do from a lending perspective.…[Read more]

Hi Ft,The WA Government has major plans for Port/South Hedland through their Pilbara Cities project. The PC project aims to improve the quality of life for Pilbara residents through the additiona of extra services such as health, education, recreation and so on. Part of the Pilbara Cities project is to triple the current population in the Pilbara…[Read more]

Hi Samson,This doesn't sound right – if you don't have a septic the obvious question is where has all the toilet waste gone for 4 years?Is the issue you don't have a second septic tank or leach drain or………………………………Phone the HIA contact and get their advise – they will be able to provide you with some assistance. Based on…[Read more]

It must be late at night – but I cannot see how the 'builder issues' are specifically related to NRAS. Reading both comments it would appear as these are 'bad builder' matters and not NRAS matters.As a rule of thumb the attraction with NRAS is the tax cresdit/deduction which is used to market the improved cashflow for such properties. As I have…[Read more]