Forum Replies Created
Commonsense suggests that it would be copyright, but in the interests of accuracy:
At the bottom of the realestate.com.au home page there is a link for "Legal" which takes you here;
http://www.rs.realestate.com.au/cgi-bin/rsearch?a=v&t=res&id=13Under the heading "Copyright" it reads:
"The subject matter on and accessible from our Websites and publications is copyright. "There is your answer.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Hi Stuart
Welcome! There are some very knowledgeable people on here who will no doubt suggest things you haven't even thought of, including what structure to purchase the new home under.
Just a gentle suggestion – your subject and post content are all in capitals which is considered the internet version of yelling, and it can offend some people. To ensure you get everybody's input to your situation, you might consider altering it to mixed case rather than all upper case.
Best of luck!
JacM
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Hi again
It is different in each council. For eg, in the suburb I'm currently investing in, minimum block sizes after subdivision are 300m2. Also there has to be minimum of 25m2 of private courtyard or backyard space for each dwelling, and a total of 40m2 of "open spaces" which can include driveways.
If you buy a house and want to subdivide the backyard, remember the rear yard will need to "own" a very long driveway that takes the owners to the house at the rear. So the backyard block would be L-shaped. The total block size you start with might also need to be bigger than you think to accommodate for this.
The best thing to do is go down and have a conversation with a townplanner and explain what you're hoping to do, and if they could help you understand the requirements for subdivision.
Also watch out for pipes under the ground that you cannot build over (eg sewer mains, and easements). Again, council can advise on the presence of these, and it's important to talk to the water company too.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
ah yep
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Awesome. Sounds like you've got a good head on your shoulders there
Hey is there any way you can use the first home buy grant to acquire your first property… live in it for 6 months, then move out and put tenants in it? The extra cash from the grant will be really handy…
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
By the way, I noticed in the October edition of the Australian Property Investor magazine there's been a convenient change in NSW law. If you have a granny flat in the backyard, you can now lease the main house to one tenant, and the granny flat to a completely separate tenant. So if your backyard isn't big enough to subdivide, maybe it's big enough to have a granny flat, and the dirt beneath it can start paying its way
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
I'd caution you against managing it yourself. Treat it as a business. Don't get personal with your tenants. It makes it easier for you to feel sorry for them and allow late rent payments and so forth. But more importantly, if you do not have a property manager, you will not qualify for landlord insurance (which is ESSENTIAL).
Yep, Mount Druitt is forecast to explode also. I reckon Blacktown or Seven Hills would be great since many trains stop there, so the transport links are convenient for tenants.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
The shrubbery is on the common parts and as such ought to be handled in some manner by the strata manager. You are right – if the current agreement with the garden contractor doesn't cover it, then to include it will probably cost more. But surely they do not need to trim the shrubs every week. Once a quarter perhaps…
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
I would expect a strata manager to not only manage in a reactive manner (eg only fix stuff that is broken), but also in a proactive manner (to maintain the gardens and so on, and do any preventive work to avoid expensive works).
Like it or not, the appearance of your property from the street affects its value. If you wanted to leverage your unit to buy another property, it will matter. Ask them to pick up their game on looking after the grounds.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
I'd be contacting them anyway. Sounds like you've been paying strata management fees, and they have done no maintenance work in return.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Hehehe it did say selling. I am blind!
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Of course it is possible. I am sure that the other owners would be annoyed by a 50% increase anyway, and that's even not considering the fact that the grounds are not being well maintained.
Letters take so long. Start knocking on doors to speed up the process and figure it out from there. Remember it might be the case that some of the units have tenants living in them rather than owners, so you might have to find out how to get in touch with the owners. eg Ask tenant who the real estate agent managing the unit is, call them, and go from there.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
I agree with the above post. Not sure what your budget is, but a couple of places to start looking are:
Blacktown
Seven Hills
Nowra (https://www.propertyinvesting.com/forums/property-investing/help-needed/4333820)All three you could get a place on a big block, and either subdivide the backyard and sell it, or hold it and build another dwelling on it when you can afford to do so.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
How many apartments in the complex? Would it be hard to get all the owners together and agree to fire the building managers?
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
anyone?
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
I second that. That new freeway…. they have only 2km-ish of sealing to go on that road. One of the BIG rules of real estate is FOLLOW THE INFRASTRUCTURE. A really long road connecting Nowra to Canberra is indeed some seriously expensive infrastructure. Perhaps Nowra is not thecrest's favourite town. So what. Smart bunnies saw major capital growth potential in Corio Victoria a couple of years back and bought up big. It is a dodgy area. So what. So was Frankston which has already boomed. And I refer you to Richmond Victoria which was a very scary place and is now unaffordable. Nowra has dodgy parts – so what. It'll mean there are tenants. And if they damage your property, that is what insurance is for. You're in it for the capital growth – riding the wave of property value increase that new road will bring.
Good luck out there!
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Any reason why these are the only two choices of location?
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Lots of big blocks in Nowra. Get a house on one of them and build another in the backyard
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Hi Lena,
I agree, hold on tight. If you sell, you've kind of wasted the stamp duty and legal fees money you spent acquiring the property.
Hey have you had a depreciation schedule done on the place? If not, quantity surveyors do them, they cost about $500. Basically they work out how much the building, carpets etc are "depreciating in value due to age" each year and they come up with a magical number that you are allowed to just declare on your tax return as a "loss" for the next however many years. This means you get some tax back from your regular day job simply because your property is ageing. And of course the fee charged by the quantity surveyor is also deductible.
How long has your tenant been in place? Are they paying the rent and looking after the place? Are you putting the rent up each year? ie are the tenants paying the current "going rate" for the area?
JacM
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Good point. Thanks Terry!
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.