Generally speaking a property manager (usually through a real estate agency) will manage your property – ie find & recommend a tenant, collect the rent, arrange basic maintenance/repairs etc for a fee. An asset manager looks after portfolio management ie a large group of properties under common ownership undertaking an asset management plan…[Read more]

In most cases that will be either a buyers agent licence or a full Real Estate Agent licence.

If interest rates are such a blunt instrument, which has been carefully used in small  doses to slowly reduce demand in the economy how can the RB now justify a reduction of 100 basis points? (a real reduction of 16.67% ie from 7% to 6% – is this a gross over-reaction?)Should they have continued to slow the economy over the past 12 months when…[Read more]

The general form of construction for home units is that all walls are load bearing – this is to reduce the cost of construction. To cover yourself you would need to engage a consulting engineer to confirm the construction and to develop the demolition methodology. You will also need development consent from council as it is defined as structural…[Read more]

You can't claim the gst on resi property – you might need advice as to what structure will best suit your situation 

Old news isn't it? Morrie's left parliament.Absolute waste of time – in the days prior to the current government having overturned the dual occupancy code (SEPP 51?  – can't remember, it was too long ago and is repealed) it was possible to build a second dwelling and subdivide on most blocks of land. This allowed many to get in on the act of…[Read more]

Try Workcover, AMDEL, Noel Arnold & Assoc,  CFMEU, James Hardie  & others for more information.Asbestos as a building product was banned around 1984 but severely restricted a few years prior to that. It is still used by defence forces as they are reluctant to use proven alternatives, and it can still be found in some brake linings.Generally tho…[Read more]

Generally one or two days is reasonable – there may be a reason eg vendor is away/not contactable (or one of the partners is not contactable eg all shareholders of small investment company/beneficiaries of a will) If possible, keep contacting the agent or the licensee (boss of the agency) & let them know how poorly the agent is performing.I have…[Read more]

No the cost involved in learning about the business are not deductible unless you are already involved in the business hence a legitimate business expense. No income was generated/derived

1 – refer to the act regarding discrimination (race, sex, religion etc)2 – Zero, it is up to you to determine what is sufficient3 – See 2 above

Why purchase the property when she should rent (at least until you know that the venture will work)? A business broker will only be looking to sell an existing business.Resi and commercial properties are two different categories, Westfield only buys houses to demolish so why do you need experience with resi before considering other…[Read more]

There should be a minimum application fee listed on the council website (refer planning and development) or speak to someone on the planning desk.Cost of the work could be anything from a couple of grand through to $10-15k depending upon the degree of structural work required to replace the support provided by the wall to the structure above.

Daniko – 'building work' is a defined term which includes erection of walls (load-bearing or not). If you are planning on erecting a wall to create the bedroom, then you will need planning approval. An owner-builder is still required to achieve a certain level of competence before being licensed to carry out building work (the $12k limit applies t…[Read more]

First coat is most likely a coloured sealer. Second coat is the finish coat. If you want 3 coats, it is an extra. Go to your painting supply specialist/hardware house and check out their recommendations.

I have purchased a DA site previously, however was able to find numerous 'issues' during the due diligence in a slowing market coupled with the vendor's need to offload the property – needless to say I purchased at less than the vendor's purchase price (peak) not including the $30K consultant fees for the DA

Consider using lightweight construction ie timber framed/clad extension including fire-rating (if necessary)

Trade in your credit card for a personal loan, at least the interest rate will be a helluva lot lower – better yet, get the bank to give you a property loan at 8-9% (you'll be paying less than half the amount of interest).

Possibly wiser to use the new unit as 80% security & LOC of 20%+costs on the first unit.You will still be paying interest on the $230k "equity" as you are redrawing it – ie you will be borrowing 100% + costs and paying interest on the lot.

A couple of quick quezzies: How did your silent partner escape his obligations (are you just kind hearted and let them out? or were they a guarantor for the loan?)Did the company pay GST on the purchase of the land? If not, why would you be trying to pass it on to the purchaser?Going to auction will only extend the pain for another 4-6 weeks plus…[Read more]

So that would make your net income around: $60k+$12.12k-$24.5=$47.62k before tax