maybe find a way to convert all that equity into a cashflow. Try researching cash bonds. This might increase servicability and allow you to get a line of credit on your ppor. Then the banks will lend to you…. the other solution is to find a income rich/equity poor partner and do a joint deal.

The other thing that is obvious to me is that your…[Read more]

if the level was on the condition report you might have a chance to enforce it!

Or, if it was a special condition on the lease to leave it in the same level.

I don’t think here in vic that the RTBA have a special rule pertaining to this.

Is it worth taking to VCAT even if you think you are in the right?

Live, Learn and Grow

Lifexperience

Hey guys,
I don’t like managing my properties because I have found that the monetary return is not worth the time it CAN consume…….enter the 10% of “bad tenant” client stage left that sneaks through the radar. As a private landlord you can’t access the National Tenancy Database to check Blacklists. Plus I’m 200km away from these particular…[Read more]

It shows that there is greater demand for available property in Melbourne and Sydney.

Basic market = supply and demand!

Live, Learn and Grow

Lifexperience

i’m feeling the pain of a few vacancies at the moment too so i know that helpless feeling.

Have faith, two steps backwards 6 steps forwards.

No tenant is better than a bad tenant.

I am taking the opportunity to get in and make some improvements, carpet, paint, clean again!, pray to voodoo property gods, yada.

I am trying multiple agent…[Read more]

I tell my students that if they lock themselves out that I can post a spare key which will take a day (they pay costs) or call a locksmith who does callouts. The tenant pays the locksmith when they turn up.

In my area all the agents scoffed at the idea of managing my student rentals for me by the room….too much trouble for them. Might be…[Read more]

You can have the loan in your name and the title of the property in the trusts name for neg. geared scenarios.

Then, the trust is making a profit. And you still get to claim the loss of the loan interest against your own income.

Called Hybrid Discretionary Trust.

Live, Learn and Grow

Lifexperience

Go for it ian!

Remember to take equityy as cash out of your house for the new IP. Theres no need to (cross collaterise) put at risk your house with a new investment.[biggrin]

Live, Learn and Grow

Lifexperience

I totally agree Celivia, that it is a real shame when parents neglect their responsibilities in upbringing their kids wrt time together….

To watch so many parents create a materialistic lifestyle of new car, fancy furniture and who knows what other useless consumer items ,,,,while their kids grow up under their noses with little interaction.

I…[Read more]

I bumble with quickbooks, but I think it is the same.

You could simply write a general journal entry.

first line would be the expense (debit) from the “mortgage interest” that you pay to the bank.

second line would be where this money came (credit) from the “mortgage account” or any account you choose.

Does this help?

Live, Learn and…[Read more]

Foundation,

I know a lot of people can get wiped out in a market crash and if interest rates soar then highly geared portfolios with no room to move on debt servicing levels will be in for hard times.

But these scenarios don’t last forever and I think anyone in this position would have backup reserves (temp credit, cash buffer, or other)

And if…[Read more]

FIREWALL – try zonealarm (14 day full version free trial than back to basic protection. Pretty good. kerio good too.

AVG – I’ve heard are a good free antivirus.

Spybot and/or adaware are good free spyware

A2 is a good trojan and worm killer

All Free.

have fun

Live, Learn and Grow

Lifexperience

I hope you are coping ok, stick in there!

Live, Learn and Grow

Lifexperience

Thanks for encouragement GR.

Live, Learn and Grow

Lifexperience

I’m geared to the eyeballs and my balls are right on the line.

89%

Interest rates not property prices is the immediate danger.

I have most in fixed interest so I have negated most of the risk.

I am young and single and could only fall back to where I recently started if it went nuts. Whatever.

and if the need arose I would get a second and/or…[Read more]

Go to Altalavista.com and download a file “securing your home computer.”

This will take you step by step through all your computer settings to maximise your protection.

It will also recommend that you get

ANTIVIRUS program
Firewall program (the default windows one is crap)
Spyware program
Anti adware and popups blocker
Trojan Killer (only way…[Read more]

Flash, I sympathise

I had an email lost from Bank in the magical cyber space letting me know to chase up documents for loan.

I found out today and the property is due to settle next week.Lucky I’d triple checked by phone.

I know the feeling when it feels like you have to double check up on everthing.

Where can I find competence,…[Read more]

Kay,
I suggested wraps as this would make the property available to a market that may lie just outside of a Normal Banks Lending Criteria.

Or potentially give access to a buyer who would be stuck with a crapper (cheaper) house if they only used normal Lenders.

Don’t ponder Jenny, Make a decision and Act! Set a deadline or committ to holding on…[Read more]

Luci,
I would love to hear your reasons as to why you want to JV with these people and what extra benefit you think you will get by doing this?

Live, Learn and Grow

Lifexperience

oh, and you can’t vary tax until you start renting it out IE: it becomes an investment. I suppose you could get a dep’n report done at this point if you want to.

Live, Learn and Grow

Lifexperience