Forum Replies Created
For sure. Let's say your mortgage is $400k. The annual saving will be more than 0.009 x 400000 = $3600. The saving is more than the annual fee of $375 by far. And the saving will actually be more than $3600 because interest is calculated daily and is compounding. But for the purpose of the exercise, $3600 is good enough to demonstrate that $3600 is greater than $375 by a long shot.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
There are plenty of laundries in bathrooms in the 1 bedder market. I'd compare recent selling prices of similar dwellings to the more modern layouts to be sure I am not offering too high.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Hold the PM liable. Talk to Consumer Affairs in your state about how to ensure they pay you. Do everything in writing (email is fine)… you will need it for consumer affairs and insurance. Your insurance might not payout on rental default since the tenant was not issued with notice to vacate immediately.
As a side note, I wouldn't be so quick to say "that's fine, pay me next month" to your PM. I get my PM to pay me fortnightly so I can see any issues quickly. If there are problems with rent money I am all over it like a rash. If there are computer glitches, your PM should pay you out of cycle to sort it right away. You have a mortgage to pay after all.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
It takes such a long time to save cash deposits. If you have a pile of cash great. Stash it for just in case. If you create a couple of giant spreadsheets that compare how much out of pocket you are on a higher LVR loan versus a lower LVF loan the results are astounding. Borrow as much as you can and keep your cash for the just in case scenarios. As you will put the rents up each year, the tenants can repay the loan "in the future".
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Depends on the type of 1 bedder. If you are talking a 1 bedder in a highrise, steer clear. There are a bunch more just like it that your 1 bedder will always be competing with for buyers or tenants that will result in one thing. Discounting. Which is bad when you are the owner.
Some people think 1 bedders are always bad. In the right circumstances, they can be awesome. I have some cracker yielding 1 bedders in a regional city. Guess what, they are not in a highrise. Ground floor stuff with no dwellings above them. So the land content that houses enjoy also apply to these.
So in response to your question, I'd take the 2-3 bedder a bit further out rather than the 1 bedder smack in the city.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
My policy is to not bother with property at auction, unless it can be bought for such a bargain that even after paying out for cleaning up any substantial termite mess and such, you're still in front.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Wow Richard, who is offering in the 4s?
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
I fancy being Prime Minister of Australia. In fact I do believe I can edit the Wikipeadia page that says who the prime minister is. Who will vote for me. Maybe I will make myself the president of the US while I am at it
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Educational as always, thanks for sharing Uncle Freckle!
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Yep, though in Vic you still have to pay stamp duty I believe
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
You forgot the legal fees of the selling process, and mortgage discharge fees. It goes like this:
800000 … sell price
-16000 … agent commission
-1000 …. selling legal fees
-3000 …. guestimate at mortgage discharge fees
-700000 original price
-38350 stamp duty
-1000 buying legal fees
-5500 holding costs
$35,150 = gross profit
CGT is dependant on your tax bracket. Let's say you are in the 37c tax bracket.
CGT would thus be $35,150*0.37 = $13,005.50
Net profit would thus be $35,150 – $13,005.50 = $22,144.50
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
James Hall … might not be viewed as spam if it were not your first post. It's much better form to provide some useful answers on a bunch of threads before spruiking…
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Either way, if you decide to move in, be sure you are aware how much notice you have to give the tenants to get them out in time, You have to give notice even when a lease is expiring.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Bathrooms with two doors are one of my pet hates. It’d decrease the value of the property in my mind.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Oh Terry, how disappointing. It sounded like so much fun, getting a company shut down for not honouring what they owe someone!
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Oooooh you are in for quite an education. It's sardines by the time the train gets to Laverton!
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Hi Rusty, I know Shape will reply but here's some info from here:
Price of water meter depends on if it is a regular one or a radio-controlled one. If it has to go in the backyard because that is where the water pipes are, the water meter reading guy will have to read the meter by remote from the kerb. A radio controlled water meter is about $350 in VIC plus a bit more in Water Company fees and of course plumber installation fees. Yes you can then pass on water charges. The water usage would have to be pretty high to bother or the cost of installing the meter is prohibitive (water usage on a one bedder is about $35 per quarter).
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Nigel Kibel wrote:I am not a broker suggest you talk to Richard Taylor who is 007 here a very good brokerRichard's userid is Qlds007
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Terryw wrote:JacM wrote:How much do they owe you? You can get a company shut down if it owes you more than $2k and doesn't pay up. I remember Terry mentioned it onceJacM are you referring to s459E of the Corporations Act?
http://www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s459e.html
Issuing a statutory demand?
Hi Terry, yes. I remember it from this thread; https://www.propertyinvesting.com/forums/property-investing/help-needed/4344676
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.