Forum Replies Created
Hi Newgen,
Some will some won’t.
Some PMs charge around $20 for an annual statement subject to your signature on the appropriate clause in the managememt agreement.
I prefer to keep running records so that I know what is coming in and going out and do not need the annual statement as provided by the PM.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
Hi John and Lois,
Welcome aboard and I trust you will find a lot of useful information t o help you along your way.
Mt Isa has been discussed before and I suggest you do a search. Click on forum boards towards top left of your screen and the click on search.
Type in Mt Isa and a world of information will open up to you – some of if may be a little dated but nonetheless you will find it of interest.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
Originally posted by melbear:Stamp duty savings are possible in Victoria for OTP purchases – I believe it is levied on what state the building is actually at….
Hi Mel,
Yes you are right Victorian Stamp Duty can be on a sliding scale if the buidling is part finished – another classic example of different rules for different states – don’t you just love it
[exhappy]Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
Hi Dom,
Doesn’t really matter – of more importance is whether or not you are over-capitalising for the area and what else is around. If you are building the only one – then it may suffer from resale problems.
As I understand it highset = two storey and lowset = single storey.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
Hi Afghangirl,
I have had some success by ordering the valuation myself from valuers who were contracted to my bank.
My broker supplied me with details of the relevant valuers in the area, I did some thorough research of the area by getting recent sale details from local REA and provided this to the valuer.
A little bit of extra work on your part but it has paid off for me in the past.
If you want to go down this line then make sure the valuer is on your banks panel and make sure the valuer writes his report up suitable for finance with your lender.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
Hi Shirl,
Based on your accountant’s comments it would appear that you are not yet ready to start the journey. There is little point in building your financial future if your foundations are not fully established – for me my focus would be on increasing your equity without detracting from the day to day business operations.
As a ‘devils advocate’ type thought – is your accountant being too conservative?
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
Originally posted by David e-noosa:Because it was purchased by the owners of realestate.com.au who also own RPdata and took over ABR as well.
Thanks for that David – explains it all now[exhappy]
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
Hi Marisa,
It would appear as if the age of free information on the web is passing.
Try this http://reareports.realestate.com.au/ – the first report is about a postcode – no price details given though.
Another
http://www.domain.com.au/UserServices/suburb_report.aspx?mode=subsell
A little superficial – but they may be of use.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
Hi Flanno,
The issue as far as many banks are concerned is they are reluctant to (don’t) do an 80% lend – they have issues with the suitability of these properties as security.
Depending upon the lender there are/could also be issues with using any subsequent growth in value as security for other lends.
Anything under around 50 sqm (give or take a little) creates the same issues.
Be aware if credit is ever squeezed it will be noon-conventional property lends that will feel the pinch first.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
Hi all,
Keeping investment and non-investment expenditure separate is critical. I’ll say that again critical.
Mix the two up and you create a nightmare as far as calculating how much interest is deductible or not.
If there are any ‘windfalls’ along the way these are apportioned over the whole debt rather than you being in position to say ‘that $10K from Aunty Flo’s will go towards the car debt’ – that is unless you create split accounts where the distribution is easily shown.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
Hi Bailliez,
Go along – just leave your credit card, cheque book etc behind and don’t sign anything on the night. Take as much information as you can from the night and DO NOT do anything for a week or so after when you have had more time to think through what is being discussed.
And finally make all decisions in the comfort of your home and away from the ‘consultant’
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
Hi all,
Another article about HK course fees. The information may be useful to someone out there.
http://www.theage.com.au/articles/2004/07/15/1089694487440.html
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
Originally posted by redwing:With OTP purchases, i believe there are Stamp duty savings also, is this correct ??
Hi Redwing,
Stamp duty savings can be realised if the contract is basedon buy the land then build the property type contractual arrangement. If the purchase is the total (land and property) then there are no stamp duty savings to be made.
Dom, As a rule of thumb I suspect the making of a quick buck in growth terms is less likely over the next 5 years or so – consider as a long term investment and you should get a better outcome.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
HI Hector,
Just had someone else asking exactly the same question – have a look at
https://www.propertyinvesting.com/forum/topic/11723.html
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
Hi Mrsimba,
For QLd try http://www.rta.qld.gov.au/
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
Hi Diane,
We live near a windfarm (12 towers all 100m high to the highest elevation) that overlooks the southern ocean.
As Shaun indicated construction of a windfarm in coastal areas is somewhat controversial and a lot of opinionated people emerge from the trenches. We had people saying the oscillation of the fans was at the right pitch to scare the migratory whales, birds running into the blades and the eyesore was goint to be something to beholden.
Three years on and it seems someone forgot to tell the whales they were supposed to be scared off, the birds steer clear and the bloody tourists come to take photos and look at parts of the coast that were previously inaccessible.
Yes there is a swooshing sound as the blades rotate but it is a low resonance and is hardly audible unless you are in very (and I mean very) close proximity.
As for construction worker housing “Heard that workers come to the area and rent homes for up to 2 years while the building occurs. Would that be correct?” – a lot of the labouring type work was done by locally employed people and the experts only visited when required.
I would also argue that 2 years is a short time frame for an investment anyway – the more important consideration is what are the long term return and/or growth prospects?
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
Hi Jsandso,
There was a company who were promoting themselves as providing precisely the service you are after. There was an article about them in the weekend papers some time ago (as in months ago) but I didn’t pay a lot of attention to it.
I would be a little sceptical of such an arrangement anyway. In my experience tenants will look at a ‘local’ agent’s windows/to rent list when searching for somewhere to rent. As such you may limit the number of potential tenants if you use a centralised agency as per my initial paragraph.
Another option may be to see what other agents in the local area can/are prepared to do. Why not use the same approach as you used previously to find your first agent?
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
HI Marisa,
I am of the opinion that the priorities are somewhat determined by the location of the property and in your case you have number one and two pegged beautifully.
I would add that the cooling capacity needs to reach all rooms in your case as the evenings can be ‘warm’ and as such you may be best to put in a ducted evaporative unit – they work wonderfully in the dry heat. Failing this a reverse cycle split system in the lounge/living area and ceiling fans to the bedrooms so your tenants can sleep well.
A slow combustion wood fire may be OK for heating purposes – but check the ease of getting or price of buying wood. Bottled gas is an expensive fuel to use when trying to heat a place in the middle of winter.
For me my priorities (not necessarily in order) are A/C, security and lock up garage.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
Hi Marisa,
Just got my trusty little calculator out and it asks the following –
Will a driveway (or not) add to your rental returns or tenantability or increase the value with a multiplier effect?
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
Hi all,
The problem presented has been satisfactorily addressed and as such subsequent postings are getting off topic. Hence topic locked.
Derek
derekjones1@bigpond.comProperty Investment Support Available. Ongoing and never stopping. PM welcome.
