Hi, would be interested in the renovation one if you have it
Regina
my email hoeppner@bigpond.com

We have now 3 properties, in the Melb. east suburbs, 1 front house and big backyard. I’ve decided this is the only property we will buy.
We brought under a company and under a trust, we have to wait 1 year due to cap.gains before selling.
We’ve refurbished/renovated/cleaned/rented the front house.
Our first is just about thru’ council, Hopefully,…[Read more]

Sooshie, very sorry indeed to hear about your son.
You are right, all that money will do is provide comfort,security and ability to do the best possible by your family.
We are in a very fortunate situation to have health, the best family and support. I see the other side of things all to often and count my blessings.
I was trying to use my story…[Read more]

Hi Danny,
Yes, I have done that to.
I believe there is no such thing as a “finacial planner”.
It’s a complete misnmer. They do not look at the big picture but only further their own interests: “managed fund”, commission, property, unless its in a managed fund, obviously offers them no commission.
The only time I will probably see a planner, is at…[Read more]

Agree with you totally, you have to ask yourself, is the presentation really worth $15,000 of your hard earned cash. This is irrespective of the presenter, could be MR. HK or any one else. Having been to a no of seminars, and spent lots, I am suffering from seminar overload and have now worked things out for myself.
I also go to the library to…[Read more]

wow, this is a pretty amazing story, the sharks are in a feeding frenzy.
I tend to avoid seminars like the plaque these days, having been to some doosies(right spelling?).
The exeption is of course, Steve’s recent seminar.
I have attended Peter Spann, which has given me some learning, but every seminar has something to sell. They want to hold on…[Read more]

Just a reminder that the banks are being conservative and more so in the current economic climate.
They have their criteria and thats it.
It’s a sort of brake on being over commited.
Regina

Well, she and her son were told that there would be something there but very unobtrusive and misleading sales spiel, certainly not the huge and ugly structure that did go up and obstructed their view, which they had paid lots of money for.
As I understand and under lots of pressure on air, their deposit was to be returned. Just one more example…[Read more]

I agree re letting tenants know re subdivision, it frightens them off and you cannot get tenants and one (good)lot I have we relocated to one of my other properties, which they were very happy about. They didn’t like the idea of living next to a developement site. I’ve now asked my property manager to not mention developement to applicants.
I…[Read more]

I agree re letting tenants know re subdivision, it frightens them off and you cannot get tenants and one (good)lot I have we relocated to one of my other properties, which they were very happy about. They didn’t like the idea of living next to a developement site. I’ve now asked my property manager to not mention developement to applicants.
I…[Read more]

Your advise is much appreciated, thank you and I will politely ask my current property manager if she will release me from her authority to engage some one more local. All our properties are going to be clean nicely renovated and located but not over the top. I am talking about wantirna, ferntree gully, croydon and boronia. Unfortunately the…[Read more]

I did buy property manager pro and found in very disappointing with very limited functions. I have now downloaded Jan summers for trial and it looks more promising.
fortunately, of
fice works took back the property manager software, cost about $89.
Regina

Banks always value conservatively.
Real Estate Agents tend to be lees conservative.
Same thing with our property, but still had enough equity for deposits on other properties, as we had paid of our mortgage.
Regina

I agree with Steve. We are facing difficult financial times and could well be nearing the top of the market. My focus would certainly be on something cash flow positive.
My other properties have subdivision back yards, hopefully a buffer, when the property market starts to flatten out.
I have just taken a profit on a block of 3 units and some…[Read more]

We are doing this sort of thing, but also learning.
What part of Melbourne? eg. east suburbs, they like north facing courtyards and approx.350- 400sqm per unit.

If the house needs to be removed, you need a demolition order.
Find out what the land value per unit is through local real estate agents, so that you are not paying to much.
Maybe start…[Read more]

Debt reduction is always a good thing, however some people might struggle to pay off your average property in three years, even with rental income.
I find that with a 20% deposit, as per bank requirement, and with principal and int. payment, the loan does gradually reduce.
If the property is reasonably well selected or you add value to it, it will…[Read more]

For the first time this year I received a land tax bill.
As far as I am concerned this is an extremely regressive, inhibitive tax. Any extra tax is too much tax.
One way around it, is to have each property in its own trust, which is how my solicitor has set it up.

thank you very much for response, much appreciated as always.
I agree with you in every aspect, it is go slow and steady.
The existing houses are very livable and rented out, so if things are not moving quickly, the backyard just sits there, and the property is still earning an income. The biggest catch is always the prevailing council mood at the…[Read more]

I haven’t got to this point yet.
I have recently brought 3 properties(outer east) with subdivision potential. The first has just been submitted to the council, they are supposed to respond in 2 weeks. My thinking is, that the money I make on selling the land can be paid into the mortgage, such that the property becomes cash flow neutral or just…[Read more]

My solicitor advises one property per trust.
He says that if you get sued, even possibly by the tenant,
your losses are limited in that way.
We live in such a litigation minded society, that I think its a good idea.
He says it costs about $500.
I asked him about the possible inflexibilty with profits and losses. He says, that profits in one trust…[Read more]