Ive done student accom and still do. There is a lot more management required and all the students seem OK at the interview. You need written rules and a lot of inspections. You need to be tough but gentle and sometime you need to be an arbitrator and student councillor. If you get a good cleaner they can be a great source of intelligence. A “site…[Read more]

I don’t get it. Why do you want to know the bad suburbs? Isn’t it the bad suburbs that are about to emerge where you can make the most? Fitzroy, collingwood, Williamstown, Port Melb, Brunswick, Richmond …. all “used to be bad suburbs”.
Anyway places are not bad, just the tenants. I’ve seen “great suburbs” have houses trashed by bad…[Read more]

I’ve followed this thread with great interest. I think it is fair to say that Michael is offering more than just “live off equity” advice. I have been very tempted to attend Michael’s workshop myself but I have had some health issues and am not quite in a position to do much at the moment. I have “paid” large amounts for advice previously and I…[Read more]

I did quite a lot of research into concrete buildings.The trick I think is to have concrete walls, even floors both ground floor and second storey floors, but to insulate the external face of the concrete walls.
More specifically the use of Insulated Concrete Forms or ICF. (do a web search on ICF homes). My information is that just plain concrete…[Read more]

I would be inclined to get a LOC (line of credit) on the house with no mortgage. Then use this to get another IP. This way she can use as much as she is comfortable with.
How long has she been out of the PPOR because it may no longer be viewed as a PPOR by the tax dept.

Pat

Take a huge bite and chew like mad.

Hi
As far as I know shared housing, rooming houses, boarding houses and hostels are all a bit different. We have a shared accomodation to avoid some of the regulations concerning boarding houses etc. There is a booklet regarding boarding housing but I can’t locate it at the moment.
Pat

Take a huge bite and chew like mad.

I’ve tried this and I would be very hesitant to do it again. The splitting of profit and asset, maybe even expenses can be worked out. What about the time and inconvenience. When something breaks down who rings around and meets tradies, what if one of you can’t “afford it just yet”. what if it is a 3am emergency.
I have experianced all of this and…[Read more]

Thanks everyone
for the quick replies. Yesterday was my first day on the forums (being a holiday I had some time).
I have looked at a few areas before going into Frankston. I think being a coastal city with increasing infrastucture is the main growth driver. As the area increases in value I think the lower soci-economic groups may move to…[Read more]

Hi where can I get a copy of the Fair Trading Home Building Contract?

Thanks
Pat

Take a huge bite and chew like mad.

Hi Jo,
I am very interested in the Frankston Heights area. I bought a couple of blocks for development but due to some medical issues could not proceed. The original plan was to renovate and hold. I now need to offload as I can’t fund the repayments any longer due to the medicals. I have thought of redeveloping with 6 units, but don’t know how to…[Read more]

Sorry, I’m new to this but could you buy “xxx or nominee” and then have the sale contract in the other person name? I don’t know how this would work but I was told to always insert the “or nominee clause into the sales contract. One thing to be wary of is that there is no extra charge for nomimating someone else. I got stung $300.00 this way.
Cheers