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Jamie Moore
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@jamie-m
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May 3, 2011 - 10:13 pm
Hi Michael
This ones done and dusted. We sorted this out for CG last month.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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May 3, 2011 - 10:10 pm
Yep, steer clear of fixed leases when renting out your property for a short term. It’s hard enough getting the buggers out on a periodic lease.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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May 3, 2011 - 12:27 pm
Hi Geezer
I’m not an accountant but I doubt there’s a minimum term.
I don’t think a depreciation schedule would be worth the hassle if only rented for a short period.
Just track the income/expenses on a basic excell spreadsheet.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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@jamie-m
Join Date: 2010
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May 3, 2011 - 12:20 pm
Hi Kris
Very insightful post – thanks for sharing. I’ll be on the hunt for another IP in the not too distant future and Ballarat sounds enticing.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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May 2, 2011 - 11:54 am
Thanks for the info. I’ve actually just purchased a Noriot 2400w off the net. I’ll report back once it arrives. Might order a couple of those lazy patch suits as well
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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May 2, 2011 - 11:48 am
Hi Wanderwoman
It sucks and I share your frustration – I’ve been there before (although I’ve never had a toilet seat nicked).
You’re absolutely right though – everything must be documented and with today’s phones it’s easy to zip around an IP and take a heap of shots.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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@jamie-m
Join Date: 2010
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May 2, 2011 - 5:24 am
Hi Kell
Nope, no need to change the loan. You’ll be able to start claiming the interest repayments from the day it becomes an IP. Might be worthwhile coverting it to interest only though (can help with cashflow).
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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@jamie-m
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May 2, 2011 - 3:44 am
Hi Tony
I think you’ll be suprised. Even the older properties usually have something worth claiming. The online depreciation calculator on the website suggested above will give you a good idea of how much you can claim.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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May 2, 2011 - 3:35 am
Hi Matt
I don’t know why your parents would suggest that. You can get the most depreciation out of a new dwelling.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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May 1, 2011 - 10:10 am
Hi CG
Thanks for the wrap I’m glad I could help.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
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Jamie Moore
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May 1, 2011 - 10:02 am
The location of the security can also impact on the LVR the lender is willing to lend at. At $70k I’m assuming the property is in a small regional area.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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May 1, 2011 - 9:59 am
harryandlloyd wrote:
Kelso is one suburb you should avoid – personally, I would never buy a property on the Sydney side of the Macquarie River.
Kelso is home to drugs, scrappy houses, scrappy tenants, dole bludgers and all those young 15 year old mothers you see with 3 children hanging off their hips happy that each newborn has added another $5000 for their cigarettes and playstations. Call me a snob, but i say it as I see it!
Ahhh….so that’s the deal with Kelso. Thanks for the insightful post.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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April 29, 2011 - 6:18 am
Sure, it’s called A1 auctions in Fyshwick. There’s another vanity sitting there right now for $30 – but doesn’t have a hole for a mixer (has two holes for two taps which is a little old school for a renovated bathroom).
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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April 29, 2011 - 6:15 am
Hi Cattaby
We self manage a couple of our IPs. We usually just pop into the local news agency and pick up a lease (which comes with the inspection report). This is in the ACT.
I was doing the same for NSW but won’t need to any more thanks to the link from Scott – thanks
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
April 29, 2011 - 6:03 am
I’ll give my brother in law a plug. He owns a custom flat pack kitchen business in Canberra.
He’s fitted two kitchens in two of my IPs. He’s prices are very reasonable, the quality is great and you have the option of installing yourself (everything comes with instructions) or he’ll install for you.
The business is based in Canberra, his name is Mike – http://www.customflatpack.com.au/
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
April 29, 2011 - 5:56 am
Hi Jac
If you opt for an under-bench oven, you can usually pick up one from here for less than $300 (including buyers premium and shipping) from here – http://www.graysonline.com/lot/0001-2023031/appliances-and-whitegoods/ole-60cm-stainless-steel-electric-oven-model-aae40011?spr=true
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
April 29, 2011 - 5:52 am
What’s the deal with Kelso?
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
April 29, 2011 - 5:40 am
Hi Cattycatty
You could look at sourcing your shower, vanity, basin, tiles, etc from online auction shops such as graysonline. I’m sure there’s no shortage of such places in Sydney. We recently picked up a new bathroom vanity and basin for $20 from a Canberra auction outlet (the basin had a small crack in it).
If you’re willing to get your hands dirty by prepping the area (gutting and removing tiles) – you can save some money here as well. You might be able to find some recommendations for local tilers/bathroom renovators in your area on this forum.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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@jamie-m
Join Date: 2010
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April 27, 2011 - 9:45 pm
Hi Angel
I generally agree. However, off the plan purchases in Canberra have been a very successful strategy for a number of investors over the years. The main reason being the extended development times – some of these units take up to three years to complete. During that time, investors who simply exchanged on a deposit bond have experienced excellent CG without lifting a finger
This has been the case over the last 5 or so years. Only time will tell whether or not this trend continues.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
April 26, 2011 - 10:40 am
Hi Madchen
API mag also has this info at the back. Might be worthwhile cross referencing it with the info in YIP mag.
It wouldn’t hurt to call a couple of local property managers as well and have a chat about current demand.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]