Hi Dylan, no I haven't heard of this offer however there's no free lunch and the cost would definitely be passed on to the purchaser somewhere along the line. How do they pay? It may have awkward tax implications as well.

Hi, having being bitten before by a slacker rent slob in the past I would be very reluctant to put down floor boards in a rental. Cant beat rental grade carpet. Down in no time, hides everything and looks great. I'm sure there is  better depreciation with carpet as well.

Hi Walexx. welcome to the forum. It sounds like you have done a bit of research on Newcastle though I'm unaware of any passenger terminal being built in the near term. Newcastle  has a well established university offering Medicine / Law / engineering / nursing / science etc. 2 solid building society's an air force base  just out of town…do I ne…[Read more]

Hi Blissy, text me on 0410713170 and I'll give the details to you. Thanks

Hi Blissy, welcome to the forum.  Congratulations on your engagement! Sounds like your  first IP is working our well. Good choice, hard to beat a  family house in a solid area with long term tenants  Have you had a Depreciation Schedule done yet? (worthwhile regardless of the the age of the property, cost about $400 ish)You didn't mention  other…[Read more]

DHA set the rent and as stated their management fees are high and nothing is negotiable. On the up side the property should be well maintained and re-carpeted & painted periodically.Personally, I like control and want to know if a light bulb breaks ( well almost) . Get their paper work and run it by your accountant and solicitor.Good luck with it….

Bummer, sounds like a nice place and I bet you have fallen for it! Yeah, I'd do a runner.  Its a lot to spend on your first house and have the thought termite damage in the back of your mind all the time. Termites are a fact of life for most of Oz but there are plenty of homes not affected.Plus the drainage issues…whats next? Does it smell…[Read more]

Hi Tricky, welcome. If you do a search on this topic it has been discussed at length.  However while I'm here I can give you my opinion Obviously the 3 of you need to see an accountant and solicitor to discuss the most appropriate arrangements.A few questions that you certainly don't have to answer here:1. If you have above average incomes why do…[Read more]

Hi Fredo,  I think you have answered your query yourself in the fact that you are refinancing a complex loan. I'm also refinancing at present and have used a MB for years and will continue to do so.Things have clearly changed and the time frames have extended significantly so dont be too hard on your MB.The level of scrutiny this time around is…[Read more]

On a side issue, to arrange a depreciation schedule, how can I find out when a house was built?Your local council (bless them) will usually be able to tell you when a house is built. Though it depends how far their records go.  A Dep Sched may be worthwhile regardless of the age of the property. The ATO will adjust your tax returns for the pr…[Read more]

I certainly would. I've been burnt before and now I take a date stamped  photo of every surface I can point the digital at. The tenants dont particularly require a copy as they will probably know you are doing it anyway.

Interesting discussion. I have been a fan of offset accounts for several years, however our new MB thinks they are somewhat over rated. Does having a few grand in an offset account really make any appreciable difference to a loan? Particularly if the interest  paid to the offset account is less than the mortgage account. Any thoughts?

Oh, my mistake. I misinterpreted ''The panelling has been laid in section 1 metre wide and it set on the diagonal" as being 1 metre high panelling as per Dado boards.Kind of changes things a little. A few choices: 1.  leave it alone and hope for the best. 2. Contrary to what I said, break out the paint brushes. Matt white / cream all round. 3.…[Read more]

Hi RP. I would leave it alone. Once you paint something it will always require repainting. More of your time and cash… As you said its hardwood so it will be tough as nails.  The effect will be broken up by the tenants furniture, paintings wall hangings etc.  What are the wall colours? Perhaps repaint with off white walls and stock standard ce…[Read more]

Though its close to Parramatta and the station it is really a tiny unit. The average stay wouldn't be long hence eating into your profit margin (if any) with the REA taking a weeks rent every new lease. Also the equivalent of  2 months rent go to rates/body corporate etc. The shared laundry may turn many people off when the rental market isnt so t…[Read more]

Hi Devo, I'm unsure what part you don't believe. The first line was a joke ( google sense of humour) However the rest, I'm afraid is true. No I wont disclose his address or even city. Its tightly locked away and is not driven or shown hence is never seen at shows or rev head picnics etc.

That would be a no.Its called fraud. Banks would  laugh at the suggestion.

Thanks God of Money for the clarification. In retrospect I would have preferred a separate bank for each property. Much cleaner. Will be soon….

Hi Fiona, rent free for a year or two!!! Good for you and what a great opportunity to get the ball rolling.Firstly :  "Given the no rental expenses, and our relatively high incomes, i think we should be able to cover this cost. We also aim to keep an emergency fund of $10k for anything that pops up unexpected (do most people do this?). Yes as I st…[Read more]

Hi Fiona, welcome to the forum. Great that your planning your financial future. You stated that you intended to move from your PPOR soon to make it an IP. No problems there, lots do it. However, where do you intend to live then and what sort of rent will you be paying?According to an online mortgage calculator:Your new planned IPLoan $600,000Say 5…[Read more]