I have had a situation where we put in an offer on a unit with a 24 hour acceptance clause.
The agent said he would not present our offer until another party he was sure wanted to buy the property had had their inspection.
We don’t like playing these games so we put in the same offer for another unit in the complex which was promptly accepted.
The…[Read more]

Thanks Jacqui – hadn’t even thought about insurance being an issue.
Have another rental property that tenant uses for home daycare and our insurance went up be about $500 to cover that even though tenant is also ensured.
Naturally oassed this cost on to tenant though.
Will definitely have to look in to in insurance for subleasing!

Why not just ask one of the residents of the units.
If they are an owner-occupier they will be able to tell you who the strata manager is.
If they are a tenant then just ask who the property manager is and they will be able to give you the strata managers details.
Then simply write a letter to the strata manager.

Thanks Jacqui.
Looked in to the units we’re interested in and housing commission has head lease so I’m guessing that makes it a little easier.

Thanks Jacqui
Do you mean when Housing stops renting the property, or when one of their tenant’s leave?

Thanks for advice Richard
That does make me feel a little more at ease

Hi Brett,
There seem to be quite a few programs you can purchase to manage rental properties.
However I am like you and am still happy with an excel spreadsheet to manage my properties.

Thanks Ivan,
I have had the initial consult and did get a good vibe.
Just wanted to get some extra feedback in case anyone here has had or heard of any bad experiences with them

Thanks Terry.
Its the financial planning side of things we are after.

My mistake was definitely not starting early enough for fear of making a mistake.
We all make mistakes at some point, the trick is to not beat yourself up over it, learn from it and keep moving forward

Hi Ivan,
Thanks for advise.
I agree that it is hard to find a financial advisor with unbiased advise which is why I’ve put it out there to find recommendations.
A mortgage broker is probably not what I need though as I already have several investment properties and may possibly not looking for any more depending on what advise I am given.
I am…[Read more]

Been there done that
Have now changed it to permanent.
3 words:
DON’T DO IT!!!!

Hi Dave.
Thanks for update.
We’re still just in the idea stage of that’s what we will probably try to do.
Have only had these units 2 years and still want to pay down some more of the mortgage and get maybe 3 years of reliable figures.
Haven’t had a holiday yet so will this year probably find a quiet couple of weeks to just shut down and…[Read more]

If you live locally pay the neighbour a visit and have a peak over the fence

Thanks all,
Benny I think you hit the nail on the head and perhaps it is time to see a financial advisor,
Hard to put trust in one though with all the stories you hear.
Last one I saw years ago was just interested in selling me over to their super fund and flogging insurances.