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Spas in a bathroom in my opinion are a bit overated. A spa outside thats another matter!!!
If they are kept as rentals I would imagine that it is another upkeep maintenance issue to consider. If you are to sell them they do look nice!!!
Maybe get in touch with a local realestate agency
Does that 1800 include the pump etc etc plus installation electrician costs if required??
So does this mean they are also required to do the gutters?
Im not to sure myself, however a QS is only 500-600 dollars and is of course a tax deduction itself…
Definately engage the services of a lawyer.
Keep all three and stay where you are lol….. Sounds like a decent portfolio.
Some banks can also be a bit reckless. I had my broker get my credit report and I had a credit check done by NAB twice in two days for the one loan!!!!
I would seriously be going to see a solicitor that specialises in property law. Is the house already built??
I think there is good and bad in every organisation and in every line of work. There will be good and bad brokers from a big company and the same for independant brokers. I have used Aussie, Mortgage Choice and an Independant Broker who has their own bussiness that is not a franchise.
Aussie and the Independant Broker were rubbish. The mortgage choice broker was fantastic. Pays to shop around and speak to your peer group or even take reccomendations of the forum. Or hit up a couple of the Brokers on the FORUM.
I own a property in East Ipswich. I bought at the end of 2007 which wasn't the smartest move. Family members also have a couple in the suburb. It is quite a strange area. There are Queenslanders price around the 500K plus range and also areas of housing comission. Rental yields are still a bit low compared to Toowoomba.
A new bridge is due in the next 5-8 years which will like East Ipswich to North Ipswich and remove congestion from the CBD. This is a big bonus.
There is good access to shops, schools and rail. I think in the future it will be a bit of a latte suburb. East Ipswich has always been a sound investment. Rentals are always in demand. If I were to buy in the area I would be looking for cottage qlder style that you can reno now or in the future. I would also steer clear of housing comission streets.
There are many well priced houses on large lots with subdivision potential.
East Ipswich will always be a sound investment and rentals are always in demand.
Give Edward at GJ Gardner Toowoomba a call. They can do a complete package and are also to assist with DA and have land surveyor contacts etc.
If the rent is from students you can still do up agreements as proof to show the bank. You can also deposit the rent yourself (once the give it to you) and give them a receipt.
Declaring it would also help.
Michael Yardneys book is a good read.
I recently had a property with NAB and wasn't happy with the valuation. Took it to ANZ and it was valued at 40K higher and about right for the house in the area.
If you already have an investment property I assume VF is still an option as a way of on-selling it?
Hi Jess,
I have managed my properties over the years. I think you will find in this situation for every good story there is a bad story.I myself am ahead financially for managing them myself. One option may be to manage it yourself in this time and if and when your current tennants vacate then hand it to an agency to find new ones and manage it from then on. Sometimes the hardest part is just finding the tennants not so much managing it.
All states will have a website dedicated to legislation and procedures for landlords and tennants etc.
Hi Nathan, I watched the clip. Who were the other 12 for? Are you a buyers agent?
Bazza,
You have to remember that someone who has 10 properties did not buy them overnight. It may have taken a number of years to achieve this. In this time rents will go up so the first few properties you bought may now be well and truly positively geared so this money can be put towards repayments of other properties that are negative or neutral.Investors with large portfolio may also have a LOC or similar set up to assist with covering mortgage costs and other associated costs.
If you pay alot of tax you may find that you subsequently recieve more tax back if the property is negatively geared. This money can then be put towards property costs throughout the financial year. You may even look at doing a tax variation.
I think Excel is the way to go. I have tried a couple of programs and they aren't that flexible with some of the data you may input. Sit down and do one up and then add to it as you go. You can include everything in it such as rent, mortgage, repayments, lvr and notes on maintenance you may have done etc even include a pretty pic of the house if you so desire.
Get a couple of other property investors to look over it and see if they can improve it.
Over time you will get a product you are happy with.
Is it an option to refinace as soon as you get the occupancy cert then do the remainding work yourself?
I think moving in to your parents is a great idea. Shop around and get a good rate for a interest only loan and pump all your cash into your offset account. Come tax time once you get back the percentage of your costs save that and use that when you are short. You can then also look setting up a tax variation to help with cashflow.
You could also re finance and get a LOC or the like and sit the equity in an offset account to help with costs and or buying another property (don't pump your own money into this offset if you go this option.
