Thanks for the advice.  I really feel for the tenant who i think will get caught up in this mess if I persue it.  I am not signing the management agreement.  I am going to wait to see what the agency comes back to me with, but I want an idea of what I expect from them before they call.  I agree that they should forfeit their commission, but I feel…[Read more]

ChaidWhy after 4 years of living with your defacto, do you still have these concerns?  I can understand this when you just move in, but if you don't love her, or you aren't sure, or don't trust her, or she doesn't trust you (hummmm), then isn't it time to sort this out.  I would be thinking more about this than protecting your in…[Read more]

Tony,It really depends on what you want to achieve.  I would really recommend you find a mortgage broker, financial planner and accountant you trust to help you with this kind of info.  Remember when interest rates where at 6% and not much was anticipated to change for a long time. How things have changed.  A wise person at this time said to me…[Read more]

Tony,Welcome.  I think you need to look at what you want to achieve before you set up a loan structure – I now wish I had done this before buying our first.  Maybe speak to a mortgage broker about what your goals are and they can help you set up a finance structure from the beginning.As for how to buy 6, 8 etc properties in one year.  I think you…[Read more]

Daedalus,I have not seen any applications, I trust our PM's.  If you can't trust them with this, how are you going to trust them on inspections unless you are there.  Aside from the issue at hand, have you asked the property manager how many properties they manage?  I have found this has a big impact on performance and how much chasing I have to…[Read more]

I reward the tenant for being a good tenant and being loyal, that is if they are there for more than one Christmas, they get a gift voucher (I gave a Coles/Kmart one this Christmas, because they could buy that Christy lunch even if they don;t shop there normally), or beer etc. I always portion the gift around 1/2 of the weekly rent.  My thoughts…[Read more]

Tangata,I'm no expert, but wouldn't this be a tenant responsibility??JL

Jules,I would say that the company's you are refering too have been burnt in the past by people either not paying, or saying their quote was a lesser price.  I would just ask them why they require this and if it is reasonable then sign.  I would also ensure that the quotes are detailed about the quality of fittings, labour times etc.  This way th…[Read more]

setehk,Seek the services of a quantity surveyor to do a depreciation schedule.  This will give you all the details you will need.JL

Robinm,I agree with Trakka, but have you had a look at the FTB increases if you are renting, especially with an expected drop in income.  This may be enough to cover any shortfall and keep your current PPOR as an IP while you rent.Just a thought.JL

Paul,I would suggest that don't sell your IP, but sell your PPOR and rent.  This is an emotional decision, but you will then have a good amount of cash, with no CGT to pay.  You can then decide if you save that money for another PPOR when your situation improves, pay down your SA property or purchase another investment.  I suggest the lat…[Read more]

YReggie29Jetski,I concur with all that Trakka said.  Be warey that the house is worth it. We just had 2 A/C's put in ours.  It is 1 hour from a major centre.  It cost $4000 because traddies won't quote.  The tenant is installing the new curtains for us, because I can't find a handyman that will do it.  We have an agent looking after it, but they…[Read more]

Linar,I would go with the intent.  What was the intended price you were to pay.  Maybe if you are still stuck, put the shoe on the other foot and see how it fits, maybe this will give you the answer.  JL

ta,Depends on how big the town is and how far away from a major town.  If it is a long way, you could end up with a headache organising traddies, getting word out to find a tenant, or having an agent look after it for inspections and maintenance.  They usually produce high returns, but consider the down side and if the place was vacant for some ti…[Read more]

Trance,Why don't you get one of the overseas trips with work.  I hear they pay well.  Or buy your next one as a PPOR when the new work loan scheme comes in around mid year.  It looks to be good if used properly.  And then rent it out when you move on.  If you do this you can sell it within 7 years without paying CGT if you haven''t bought anot…[Read more]

g_man08,It does sound a little too rural.  I have a place that is rural but it only takes a bit over 1 hour from a major centre.  I have been waiting 3 weeks for A/C to be put in and expect it to be done this week.  This is not excessive, but what if it was a hot water service or something?  Tradies won;t go and do quotes, just turn up to do the…[Read more]

G_man08,I would get a building inspection from a qualified builder – not just someone who says they can do one.  I would also get a pest inspection.  I would also get the home electrically certified after purchase and make sure there is a safety switch and smoke detectors.  This is not all legislation in Vic, but more to proctect yourself and th…[Read more]

Damo001,Why not check this thread.https://www.propertyinvesting.com/forums/property-investing/general-property/4323698I started this a couple of days ago.  Agreed about the places being rural, but I also think that for those without a great income, or those with other financial commitments (ie kids), that this type of investment is great.  The i…[Read more]

Sean and Lisa,Recently my hubby and I decided to cash in on one of our investmests.  First time we had sold.  It's much more nerve racking than buying.  I found that it was important for me to feel confident with our agent.  I interviewed 5 before we found one that offered a fair value to expect and that I felt confident in.  Ironically the figu…[Read more]

Kris,I would make an offer that you feel you can make money on and not regret.  If the figures say you will make money at 215 and you offer 205, are you going to regret it if you don't get it.   If the figures say you will make money at a max of 195, then offer 195 and you have lost nothing if you don;t get it.  Good luck.  JL