Hi Happyjack. I think your talking about  5 different people here. Solicitors aren't trained in , 1. Property investing  2. Definitely not share trading   3. Business   4 Accounting  5. Doesn't charge exorbitantly? (yeah right)They should/ are experts in law though. Its illegal for any one to give paid financial advice unless they are authori…[Read more]

Hey David, welcome to the forum. Sounds like your in a great position for your age, well done to you both.While 6.1% isn't super competitive, you could be locked in at 10%.  Truckloads of people are paying more or as much on all or part of their loan. (me included)You have loads of options. You could redraw some equity to fund a deposit,  to buy a…[Read more]

Hi Karen, good for you! Looks like a great buy and the numbers are pleasant. What sort of fence are you thinking about? Does it need one. Do the prospective tenants need the privacy? Just few thoughts. Well done…..

So this happened a quarter of a century ago….and the point is.

Thanks SNM & Adrien, much appreciated. Had not thought of the black plastic. Will stop the weeds too…….

Centrelink changed the rules several years ago. Previously to the rule change Nan & Pop would ask a grandaughter/son to move in with them prior to them moving to an aged care facility. They could then claim that their house was occupied and could not be sold in order to pay the large aged care facility bond. However, now a person must show proof…[Read more]

I agree with Marc completely ! I would never do it myself, its a real skill which you don't want to use your house to practice on. Give me carpet for IP's any-day. Floors can only be sanded so many times (maybe 2-3) then there paper thin.  One of our IP's had polished boards. They were kept in very good condition however the place was a fridge in…[Read more]

Hi Bootlace, sounds like you know your cars. Yeah 20k back in the seventies was a load of money for a car.  Yes its definitely the real deal as he has had some serious offers but doesn't intend to sell. Very tightly locked away. Would look great in the National Museum. Who would 'nt love to take it for a spin? A few nice videos on You Tube as…[Read more]

Well ,Ford Phase 4 GTHO Falcon actually. Great to drive to work each day……My brother just met a guy who bought one in the seventies for 20K. Has sat safely in his garage since then, rarely driven.Now worth…..? anyone's guess.Google it.

Sure can, you can back date your depreciations for several years. (3-4) I think? We did a couple of years ago and it was a nice surprise. I spent it on a case of Bundy, then I wasted some. You can pay for the Depreciation schedule for each house- $400 ish  though your accountant person can advise you to or when to submit it with the Grandfather c…[Read more]

Same, same…….none of the banks go broke? Is he serious. No doubt  another 300 odd pages of unreferenced material with multiple references to people who never existed.

Hi CSI, welcome to the forum. It was all in the fine print and your certainly not alone. 18 big ones is a decent amount, however how large is the mortgage? Its all relative of course. Have a look at your statement/s and work out  how long it takes or took to pay $18,000 in interest.  We were not  locked in when our rate hit 17% , however I wis…[Read more]

Your PM is a slacker. My statements are emailed at the same time each month and posted a few days  later.  Perhaps write them a letter asking for better service.

Hi PD, sure do. Cant go wrong with  the lake, beach, shops, schools and 1 1/2 hours north of Sydney. It ticks all the boxes.

I had the same thing happen (coals from an open fire). I went for the patch, $100. Looks great and has lasted. Obviously in a high wear area it may be different. Who cares if wears differently?  On a slightly different note we have used offcuts/remnants to carpet our rentals. Brand new carpet at a fraction of the cost. Regardless the tenant s…[Read more]

Hi Daniel, I'm unsure of your actual annual income (6300) is that monthly?  Sounds like you would be flying really close to the wire. I realise that you intend to wait till next year with hopefully lower rates. However 350 for a first IP is a big chunk that may just inadvertently tie you down considerably for some time and your ability to borrow f…[Read more]

Hi Sol, yeah sure you could but its called fraud and looked upon very poorly by the ATO as you would be fraudulently claiming interest on your "investment property" which you would not be entitled to.  No accountant would want anything to do with you at tax time.

It's close to Parramatta so it will rent with no problems. My concern would be the total annual fees to keep it, ie insurance, body corporate, sinking fund etc.  Does it have a lift or pool etc? Good luck.

The days of 110% finance are well over.

Hi Lachlan, welcome to the forum.I'm not aware of any particular formula for calculating rent, its usually market forces. Supply and demand etc. Also what others are paying in comparative houses and area.$105 sounds like a bargain (and a poor investment for your Dad).There was only one house for rent in Jan Juc on Domain and it was a 3 bedder for…[Read more]