Here Here to Rich Sparky and diclem. Their words are so true!CheersWife and bookkeeper to a self employed (hardworking, smart, qualified and responsible) electricianThere's more than meets the eye when running a REC (Registered Electrical Contractor) business, providing great service and making a living. 

Thanks Mike,The property was sold very quickly but it was great to receive your invaluable report.Many ThanksKaren

It just gets better.Settlement is all done and dusted, tenant is paying rent (late – Grrr), paying interest on loan (unavoidable) and usual water bills coming in to be paid.This IP is in the western suburbs of Melbourne. Received a water account (for usage only – no Annual Parks Charge) and find its in credit (thats ok), but received another…[Read more]

Got my son an iPhone for his birthday the other week and got my daughter an iPod for her's.I was dead chuffed when the family clubbed together and bought me an iPad for fathers day. Got my wife an iRon for her birthday. It was around then the fights started.

I found another beauty. Its an app that allows the user to locate nearby property development proposals.Hopefully this link works – this is where I found it…[Read more]

I was intrigued so I downloaded the app.Can definately see the possibilities, but then searched my own home (bought in 2000) and there it was including the $ range in which I bought it, as well as most of the neighbours…going back to 1984!Its just like accessing Face Book for the first time….searching out all your friends properties with just…[Read more]

Finding out there is a delay in approving finance as the contract states the purchaser as:Smith Corporation Pty Ltd ATF The Smith Family Trustwhen in fact the trust name is Smith Family Trust…..omitting the 'The' .Guess I should be a bit more careful when throwing the 'The' word around.Technically the bank is correct…but OMG !   

Hi Jo,We could be sisters in circumstances If you would like to change your profile to allow contact, I would be happy to let you know how I am set up (being self employed and investing).I didn't feel comfortable sharing all the ins and outs of my structure on this forum.CheersKaren

I started my 6 year old off with $2 worth of coins. She then had to divide into 4 equal piles. Then place 50c into the 'Big Girl' box – for deposit into her bank account at a later stage (to access when she is 18), 50c into her 'Help' box – to donate to RSPCA or anything else of her choosing, and $1 into her 'spending' box. She then saves her…[Read more]

I had an interesting experience changing property managers.I felt the 1st property manager was doing a poor job (it was a while ago now so can not remember the details) so I approached a 2nd PM. Signed all the relevant paperwork and received written confirmation that the 2nd PM had taken over from the 1st and all was good.Or so I thought.The…[Read more]

Ok.Melbourne Metro – 1 of a set of 8 units = $720 yearRegional Vic – 1 of a set of 4 units = $800 yearGo figure!Both have low cash reserves with no big maintenance expenses recently.

Wow.. What great information. Many thanks!

Hi Kenny,Purchased under a PTY LTD StructureKaren

Oh…and all those free apps that young kids can play when chatting to REA or driving around town. "Priceless"

I purchased an app for I think $1.19. Its a stamp duty calculator which determines stamp duty in any state of Australia. Enter in the purchase price, state & if PPOR or IP and calculate. Its been spot on for me in Vic to date.

Hi Fletchertax….So if I bought a IP  (under a company name) from an owner occupier and it needed structural repairs due to white ant damage and I threw in some cosmetic renos ie paint, carpet, kitchen benches etc, then quote" Repairs to a newly acquire IP are not deductible but repairs resulting from rental use are" – "Be careful between di…[Read more]

Re: Of course if the Trustee is a Pty Ltd Company then it would read XYZ Pty Ltd ATF XYZ Family Trust.Quickie in regards to this… what would then appear on the title document? The Company name or the whole spiel?Karen

Ahhh… Thanks NinoKaren

Hi Scott.Can you advise what a LEP is?Karen

On a slightly different topic re damage…. if there is white ant damage in a strata unit, does the owners corporation insurance cover this? CheersKaren