There probably vendor finance / wrap agents.

Hi Cazza, if your desperate enough you will find the time. How long can you carry the place untenanted? If you find someone, then just give them the PM's number and inform the PM. Actually the more you find the better. Lots of  applicants don't make the grade anyway.Are you phoning / emailing the PM daily / second daily? They should return y…[Read more]

Hi Cazza,  are you actively seeking a tenant as well, not just leaving it to a PM? Posters at work, local paper, on your intranet if you have one. Doesn't matter if you look a bit desperate, your almost there.Thought about reducing the rent significantly….. 20-30% Better to have some cash flow then none.Phone 10 other PM's then 10 more.I have b…[Read more]

Hi Trance, sounds like you are trying to talk yourself into this deal. Sounds like a nightmare. It may be difficult to add value to a small unit and they have limited tax benefits. I would certainly want a car-park, absolutely and I'm sure many people would. Forget about the rental guarantee, your paying for it. All the investors I know started…[Read more]

Hi Mel, loved your story in API. Your a legend!  Your on a great wage, more than most so your options are huge. What are you going to do with your land? Will take it take multiple dwellings?As I read recently most people would require 5 to 6 unencumbered properties to retire on. Your doing better than most and have a great portfolio for your…[Read more]

Hi Justin, good on you for asking lots of questions first.Your probably aware the weekly repayments on $400,000 @ 9% interest only is app $ 692.Plus insurance, rates, etc. Yes you will get a standard depreciation schedule from the builder which does help at tax time.A few things to consider and not to respond to are: is you and your…[Read more]

Hi, good on you for thinking ahead and wanting to do something positive with your cash.So, 4 people all borrowing 150,000  but mum has 100,000 as a deposit?A few questions?Have you spoken to a mortgage broker/ bank?   Not sure how they view these arrangements.Have you spoken to an accountant or solicitor? They will be able to guide you in the fi…[Read more]

Hi Tony,  its my understanding that it is your responsibility for any thing that is broken etc. obviously if its malicious damage etc then that's another matter. My PM recently sent her clients a very direct letter stating that everything in /around a property should work. If not then it should be replaced or repaired,  regardless of cause. Her e…[Read more]

I agree with Steve, however I would add run, run away from this risky deal. Dont stop until you've purchased a finished house with good tenants. Dont blow your money speculating. Leave it for a few years.

Hi Salil, good luck with the reno. It may be worthwhile checking with your accountant  that floorboards/laminate can be depreciated the same as carpet. We did a similar reno last year and spent 5k. Came up great and the new darkish rental grade carpet looks fine. See ya.

Hi Andrew, welcome. RUN A MILE from your new friends at the FA's office. This sounds like an absolute disaster waiting for you to sign. Your in a great position, however on your modest income you could go under quickly..I'm not an accountant, however they want you guys to  sign up to a deal that will leave you with a shortfall of of nearly $1100 p…[Read more]

Talk to your accountant before you spend a cent. It may pay to wait 12 months before doing any significant work in order  to gain maximum depreciation. I just paid $450 (tax deductible) for a schedule and it was certainly worth it. Its impossible to answer your $ question as each house is different and has had varying levels of improvements. I r…[Read more]

Hi, according to Domain.com Pendle Hill is expecting  7% growth. The rents you quoted sound low for a place so close to Parramatta. Sounds like they should be considerably higher. My folks have a granny flat in their yard not far from your house and it pulls $200/wk. Nice earner for them…. Sounds like a goer.

Congratulations ! You have more than most people and may not have bitten off more than you can chew. I can relate to your predicament as were held back considerably by our own lack of knowledge and looking back, ultra conservative, non investing bank managers. Since acquiring the services of an experienced, investing Mortgage Broker we have been…[Read more]

Hi Nicole, we have just finished our bathroom reno on our PPOR. We did it for just under 10K. No particular budget though. It was a total bare bones job as most are, including removing a wall between the old dunny. A  $250 jack hammer from Aldi was a life saver and worked perfectly. I laboured for a week for the tradies and supplied cash. I would…[Read more]

Well Phil, perhaps property isnt for you. A local managed fund linked to China is currently returning 107% PA……….

Hi guys, we were in an identical situation some time ago, kids change your world (for the better) So,Owe $195,000@ 7.5% Interest only loanRepayments would be $271 per week.(Fixed loan)What kind of rent would your place attract? Could you live with a short fall for a while?Sell as a last resort would be my unsolicitored advice. V8ghia is a wise…[Read more]

A good property manager is worth their weight in gold, ours is. I don't care to be phoned every time a light bulb dies.. Their fee is tax deductible and it frees up your time to play. They have access to the most invasive data base that would make any civil libertarian become incontinent. Don't do it to yourself…..

Hi guys, here's where you have to make the big decision!  According to the net Parafield Gardens (5107)  can expect  12.2% growth in the coming year. 28% people rent  vs (27% Adelaide) and there where only 7 properties for rent  on one particular site I checked ranging from $210 to $300. So far ,so good. There are now about a zillion ques…[Read more]

Hi Anthony, good on you both for starting so young. Firstly I assume the property was built after 1985 and therefore you would have a depreciation schedule prepared. According to an online loan calculator the repayments for your loan would be:Assuming 10% deposit of $40,000$360,000 @ 7.6% = $526 per week  (interest only)  Less $360 week and you ha…[Read more]