Thanks Guys
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We bought a 3X1 for 290k and did some work for 12-13 days. painted, replaced oven, replaced all taps, new carpet and  vinyl, new AC, new gutters and free insulation too. We spent around $6000. The rent before we bought was $225 per week, after reno it is rented for $330 per week. Don't know how much value we added by a small reno.

Interested in vendor finance property, please send me more info.we can findout the way to set up the contract.Thanks.

Thanks you for support and suggestions and help. We have decided not to move with them. They can move with us in our 3bdr home if they want to. We can offer them our master bed room and we can move in a smaller bed room. We want to support them as much as we can. We are ready to welcome our grand child.I will keep posting updates. Thanks.

duckster wrote:
What about putting a transportable cabin in your back yard thus giving them a little bit of privacy and still having Grandparents close by.When you rent out the PPOR you can still have it deemed for 7 years as your PPOR as long as you do not claim another property as your PPOR for capital gains tax exemption.If you rent out your…[Read more]

Hi,DWolfe,Some more info…………….We live in 3X1 and bed rooms are not big enough so they moved. 4X2 IP's lease expires in April 2010.Our daughter in law is always good to everybody. Always respects us and she never wanted to move from our house but  she had to go because of her husband's pressure. My wife and daughter in law get on re…[Read more]

Thank you very much for your support, advice and inputs.

Hi Marie123,We bought in Perth, Langford 6147. It is not a great suburb to live in but good for IP, i think.Within one month, the property prices gon up and you can not find any 3BDR house (with 700m2 land) below $300k. I buy old properties, do some repairs, replace carpet, painting and rent it out. This strategy works for me. Yes, there is not…[Read more]

Hi, What I would do? I would save as much as I can to pay of debt and meanwhile read some more books/forum topics/news letters to enhance my property knowledge.We can draw a plan for paying off debt ASAP if we have data of your minimum payment requirements for each debt.Or easiest way yo contact your bank and ask for consolidation of debt and find…[Read more]

HI, Weekly $95 means $4940 per year. I bought a property in Dec 09, it was rented for $225 only. We did some painting and minor repairs and rented for $330 from yesterday.So your first step would be …………………………….Rent increase notice…………………………..Best Luck.

Investment property forums– abbreviations IP- Investment propertyLVR- Loan value ratioPPOR- Primary place of residenceRE- Real EstateOPM- Other people’s money (Borrowed)LOC- Line of creditSMSF- Self managed super fundPM- Property managerOFI- Open for inspection (open home)LMI- Lender’s mortgage insuranceCGT- Capital growth taxFHOG- First home…[Read more]

Hi Jimmy,Property price will go up and if you wait for a year or two, you will be paying more price as well as interest. Double loss. Check your monthly budget, How much is rent and how much is surplus at the end of the month (saving). For example, In 2007 I used to earn $1000 after tax. My rent was $350 per week and other expenses like fuel, m…[Read more]

You are 100% right businessglobal. We can not drag a dead horse, or take the horse to water and force it to drink. I stopped thinking about it. When he declined to take over the property, we (me & wife) showed him some investors examples and Jan Somers quotes the avarege porperty price double in 7-8 years. I did some claculation and showed him tha…[Read more]

Hi,Thanks for supprot, I really needed it. Pressure from both ends. Wife wants me to do whatever SON wants and Son doesn't want to do. XYA- My son can not buy his own and apply for FHOG because his income is $40 K and bank won't consider for $350K loan, We do not have equity left.Sonyasal: About our culture, My father has 4 sons, he built 4…[Read more]

So, I made him upset because I said him, Tax deduction is based on my earning, If I stop working, there won't be tax refund. Did I do wrong? My wife is also upset and saying, it is my fault. I push our son away from us but she does not understand that SON does not want to take responsibility. I think TAX is only an excuse. If we give away TAX…[Read more]