Hi guys, I just found out something today from my mortgage broker that I thought was quite interesting.Not sure if any of you have heard about it. I have a couple of fixed loans secured by one property, that I would like to put on the market to off-load.And the usual story … bank charging exorbitant fixed rate break…[Read more]

Thanks Jeff,I guess I'll probably get some photos done of the items/chattels, etc and get them sent to the quantity surveyor.I can't see that it's worth it getting him to fly out to the property, esp in Coober!!!!But, has anyone actually got a schedule done on a dugout?What sort of depreciation did you get on it?HJ72

Hi digle,Thanks very much.I've emailed you.HJ72

Hi guys,Thanks for the tips.I have contact Stratco. They'll supply a carport pretty cheap, just over $1000. Don't know what condition it'll be in.But they don't do any installation, council application or anything else.I haven't thought of Outdoor Direct. I'll give them a ring.I have contacted two other companies, whose quotes I'm…[Read more]

Hi "happy little" vegemite,What are the costs involved with the reports?And what sort on an area (eg one suburb, one postcode, larger area) does the report cover?And do they provide a buyers' agent service?HJ72

Hi Simon,Thanks for that.Yes, I think having an offset would be a great addition.Can the offset have a redraw facility?Or does it depend on the lender?

Hi lilyhutch,We are currently starting a subdivision process in Brisbane as well. We bought the property with a development permit in place already. The council contributions (water headworks, sewerage headworks, parks, street lighting, etc) should be on the local council website, although the documents can be difficult to read and the calculation…[Read more]

Hi Marc,Thank you very much.I hadn't thought of selling the old house sooner.I had just thought of getting the profit from the vacant blocks and holding onto the old house.But the old house doesn't have street frontage, so it won't appreciate in value as much as a new house on one of the street frontage blocks.Pete

Hi,

I’m new to looking at NZ property. Can anyone tell me any good professionals in Dunedin or Christchurch they have used?

– property managers
– mortgage brokers
– settlement agents
– building inspectors
– pest inspectors

Thanks.

Hi,

I’m new to looking at NZ property. Can anyone tell me any good professionals in Dunedin or Christchurch they have used?

– property managers
– mortgage brokers
– settlement agents
– building inspectors
– pest inspectors

Thanks.

Hi,

While we’re on the topic of bird-dogging, I have a few questions about them. I’m relatively new to property investing and am discussing with a bird-dog a couple of properties they have introduced me to.

– I know there isn’t any “real standard”, but what is a reasonable fee?

– I’m doing by own checks on the properties, and am happy with what…[Read more]

Thinking more about it, I’m not sure really about all the due diligence I need. I’m still new to this and haven’t got a handle on DD as yet. Can anyone give me any pointers so I don’t miss expensive things? I’m interested in looking at this deal, but I don’t want to bite off more than I can chew.

Thanks

Thanks again.

My mortgage guy suggested that it may be a 75% LVR if I went ahead with it.

The way I see it, a rental guarantee for full occupancy is vital, especially as you are pretty much limited in only leasing it to students, and for the university year (Feb – Nov). The contract shows a rental guarantee for this year, but the agent said a…[Read more]

Thanks Fast Lane,

What sort of financing issues or other issues are real concerns? I’ve definitely heard of a lot of dodgy deals happening in Qld over the years. I’m sorting out my own finance, and getting independent legal and valuation opinions before proceeding.

Is one concern the fact that I can probably only on-sell them to other…[Read more]

Okay, thanks for clearing that up. It did sound too good to be true, but I didn’t know the legal implications of it. If we simply charged them market rent, which our property manager says is $180/wk, and declared the full amount as rental income (paying management rates and income tax from that amount), and then gave them back $100/wk out of…[Read more]