For $30 grab it. It's easily one of the better ones out there.

aussieguy2000 wrote:

Unfortunately unless you can prove it was the tenant you are a bit out of luck.

I beg to differ. If a toilet can work fine for 364 days per year then why does it block. That tells me immediately it is neither a design fault nor tree roots. Remember its a newish 2 yr old property. Tree roots where problematic with clay…[Read more]

Discussion here about it.

http://somersoft.com/forums/showthread.php?t=85656&page=2

If you're going to rent an 800k property it has to stack up economically. It would need to pull around 55 – 60k/yr (gross yield) for it to even be worth considering. 

If you can't make it work then the choice is obvious.

Prior to leaping into a new property I would consider my future investing options before buying. If you intend to acquire more…[Read more]

kochy1983 wrote:
Hi Shahin,

thanks for your reply. One option the bank discussed with me was taking out a car loan (I do need a new one) of say $25,000, buying a car worth $10,000 and using the rest to pay out the home loan.  They said this would then be a secured loan and at the lower rate of 8%. Have you ever heard of…[Read more]

I'd be asking a few question to try understand where/what the problem is.

Is it the same tenant?

Do they have small children (put things in the toilet, disposables etc)?

Where in the system is the blockage? Toilet pan, s bends or in the sewer line to the street.

Is it a water saver cistern (inadequate water to flush might predispose a system…[Read more]

oc1 wrote:
You do realise one of the guys, Chris, shot himself a few days ago? The above comments become a bit tasteless now don't you think?

Oscar

My only regret is that more drug pushers don't follow his example when caught.

wilkie0611 wrote:
hey cazza69 i was just wondering if you could send me a copy of that link, cheers ben

Check the dates on the posts. Cazza hasn't been around since 07

The tyranny of distance is no longer an issue these days. You can do all this on line. You'd be hard pressed to find better industry invested brokers than those in this forum.

Trusts are more of a legal issue than an accounting one. Terryw or Darryl (JTI) are your go to legal guys here. I'm sure they'll eventually wonder by.

Educational…[Read more]

Com RE aren't tax experts so the wording is a bum covering exercise. It's up to sellers and buyers to work out the gst implications. 

See ATO

GST and property – Commercial residential premises
http://www.ato.gov.au/businesses/content.aspx?menuid=0&doc=/content/00198744.htm&page=10&H10

GST and property – Going…[Read more]

Have a look at your lease agreement. There are limitations to access under the agreement.

Limits in NSW
To show the premises to prospective buyers;

2 weeks written notice before first inspection. Subsequent inspections as agreed with the tenant or, if there is nothing agreed, no more than 2 inspections per week, with 48 hours notice each…[Read more]

If a builder couldn't tell you a walls structural or not he wouldn't be worth employing and I doubt hold a license. Getting an engineer in to tell you is like like getting a neurosurgeon in to tell you you've got the flue.

Just get three quotes from builders and an explanation of the necessary work, possible complications etc. Cost you nothing…[Read more]

Terrible PM…terrible landlord more like. You've been asleep at the wheel and now that you've woken up you're climbing over everyone to get this sorted. I'm with the current PM on this and if I was the tennant you'd be told in no uncertain terms if you came at me with a hefty rent increase like the one you're proposing.

PM's manage properties…[Read more]

And some idiots think the NBN is a waste of money. If the Libs get in I hope they don't butcher what should be a key resource for this country.

A deposit bond is simply a guarantee offered by a second party that the seller will receive a deposit on the date contracted. If you die, get run over by a bus or go broke the deposit bond issuer meets your obligation and pays the deposit. It will then seek repayment from you (or estate) at probably quite high interest rates.

If you use them read…[Read more]

Australian banks own NZ banks and you can unusually borrow through either from memory but the broker guys can confirm that.

You pay tax in the country you reside in at whatever your marginal rate is.

How do banks treat them?

JacM wrote:
$10k is a mysteriously round number.  Is it exactly $10k you're out, or a number near $10k?

If it is exactly $10k maybe it's due to a typo in your spreadsheet/calculations somewhere?

Jeez Jacs.. this could turn into one of those Pommy WhoDunits…

You could also throw an options strategy in there blended with the VF vehicle. 

You buy and option (but not an obligation) to purchase the property at a later date at above his asking price. You do the DA prep work. Once you're happy it's a goer and you perhaps have buyers lined up you execute the option.

He gets a few bob for the option, say an…[Read more]

Wouldn't worry about the tax thing other than the missing 10k could be an expense you can't claim. ATO couldn't give a rats about that. They're only interested in undeclared profit and over claiming of expenses in general.

You'd be surprised how many businesses have an accounting system based on the old shoe box method. 

10k is a bit of coin to…[Read more]