G’day coslett,

For commercial properties, there is generally no obligation on the agent or seller to give a GST inclusive price, unless they’re targetting “retail” customers. I believe that the ACCC has developed some guidelines on what is “retail” and what isn’t.

If you’re simply looking at a stock-standard commercial property, advertised in…[Read more]

You should also check with your bank regarding how much LVR they’re prepared to lend. I’ve been told that many banks are reluctant to lend more than 70%, because serviced apartments are harder to sell.

I think that the voice of moderation should rule. What’s the point in attacking others? If you really wanted to, you could always find something about someone you didn’t like to focus your attacks upon, and come up with a whole bunch of reasons as to why your attack is justified. But is this constructive?

What’s constructive is if Mr Reed…[Read more]

Well, I’ve looked into it and am pretty sure of my conclusion – if you moved into your OTP within 12 months after settlement as your PPOR, you can technically still claim the FHOG, even if settlement is 3 years away. The only caveat is whether or not the FHOG is still available in 3 years’ time, and if not, whether the repealing legislation…[Read more]

Sorry guys – it was late and I was in a hurry to meet some people for dinner (lame excuses I know).

I’ve checked the Act and my book again. I was wrong.

Caz is right.

Apologies for posting the wrong stuff in haste.

[xx(]

To redeem myself, here’s a tidbit – there doesn’t seem to be a time limit on when you have to claim the grant. So even if…[Read more]

Hi Louise,

It really depends on the state you’re in. Although the FHOG is a federal government grant, it’s administered by the States, which means that each State passes its own FHOG Act. Unfortunately, while the Acts are all similar, they are not identical. So certain things that you can get away with in one State might not apply in another…[Read more]

Thanks guys. Really appreciate the tips.

Hey Steve, I’d also appreciate any pointers that you might have. You can email me if you prefer:

melvinyo@hotmail.com

Cheers
M

Hi TiraJayne,

I think there’s some really sound advice given. I know you hate renting, but you really need to have a good think about buying an investment property which will give you instant positive cashflow, versus buying a place for you to stay in.

Firstly, if you can’t borrow any money from the bank, you can really only afford a $50,000…[Read more]

way to go westan! I’ve still got some way to go.

Hi bedean,

I think that there are quite a few factors you need to consider:

Does the lease give you the right to increase the rent during the term? The answer is usually no if the tenant is on a fixed term lease.
Is it a good tenant? It’s better to keep a good tenant on the same rent for years, rather than try to squeeze an extra $10 per week…[Read more]

I think that one of the main reasons banks are reluctant to lend on retirement village units is because it’s not your “normal” property. Banks are by nature risk averse and conservative. They lend on normal properties because that’s been happening for umpteen years. Retirement village units are not that common, and also have fairly tight…[Read more]

Hi Pete,
There’re quite a few Queensland investors who have posted helpful info which might answer your question – it’s worthwhile going through the previous posts to see what you can find.

Cheers
M

Hi dennis,

I’m in WA, and there are others who are in Vic & NSW too. But I have to admit that I haven’t come across anyone on this site who seems to be from SA (I could be wrong).

Hopefully, there’s someone out there who can help you.

Cheers
M

Thanks guys, sound advice indeed.

I can’t argue with your logic there Stu – the banks obviously have experts working out the rates so that their risk of losing out is minimised, whereas I have absolutely no qualifications or experience in professionally forecasting rates (if that can be done at all!).

Del – your reason for fixing is also one of…[Read more]

Hi guys,
I’m in the process of writing a DIY book on conveyancing for WA.

In my experience, you’re probably right, Harold. But I disagree – it’s actually quite easy if you approach it with the right frame of mind.

You need to accept that these people you deal with are mostly civil servants, and deal with them accordingly – courteously and…[Read more]

Makes you wonder – if every man and his dog are buying investment properties, is the market running too hot?

I looked at a number of properties this weekend. One of them was a townhouse in a strata complex. My research showed that another townhouse in the complex sold for $40,000 less than what the owner was asking. This was only 6 months ago.…[Read more]

Hi guys,

Kooringal, while I sympathise with your predicament – I really do – I have to respectfully disagree with the method that Chandara has suggested.

Firstly, the valuer’s job is not to get the highest or lowest value for the client. The valuer’s job, and the valuer’s duty to the client, is to arrive at a fair and reasonable…[Read more]

I’ll be getting one too – but I’ll buy it from the bookshop. I don’t think I can wait for it to arrive in the post!

Hey you think you’re addicted? Check out the time on some of my posts…

Man need to get some sleep…

all the best brownwombat – let us know how you go!

Cheers
M