Hi Paterson,

I have to say I disagree and do not think Mandurah will out perform.

The train line has been in place for a while and so any gains made because of that new infrastructure has already occurred. However the main reason why I do not think Mandurah will outperform is the supply- there are lots of new estates around Mandurah and so there…[Read more]

I have had one built for about $100 000 which is what Joe85 has indicated.

But this would not include driveway, fence, landscaping etc (if required).

Cheers
Luke

I would also be wary as if the bank is preparing to sell the properties for less than what you will pay for them, maybe you are paying above market value.

Luke

Can your friend provide vendor finance for some/all of the properties?

Ring your council and ask for a copy of the occupation certificate, that will have the date on it. Its free.Cheers,Luke

Buy one or a few of the books Duckster listed- that should cover the different costs.Cheers,Luke

I would personally not buy property in either area.There is far too much developable land nearby for my liking and so not really a scarcity factor around houses. You just have to drive about 10 minutes out of Armadale and you are in the open fields of Byford.Just my thoughts.Luke

vsdabhi wrote:
Hi,I have bought a prop in Perth (SOR) and there are many visible cracks in the ceiling of one room. Room size about 3X4m. Can anybody give a rough idea how much will it cost to remove old one and replace a new ceiling? We can do painting on it because we need to paint house.Thanks

I wouldnt worry about cracks unless they are…[Read more]

You could sell the property, take a hit and move on with a lesson learned?If you can't afford to sell the property and take a $50k hit then you are probably not in a position to invest in an additional property so I wouldnt think that this would negatively affect your ability to purchase more properties.Cheers,Luke

You will probably find that shipping containers are not used for construction camps because they are much more expensive than sandwich panel type donga's to build due to the large amount of steel compared to the dongas typically used.And I agree, the footings aren't needed to hold the container up but rather to hold it down during storms and high…[Read more]

Yes you will certainly need some kind of footings or tie downs to prevent the container tipping in a strong wind. Or at least a certificate from an engineer saying that the building complies with the building codes in order to get an occupation certificate.Cheers,Luke

Yes I have had a low valuation on a property that I was interested in. I made an offer of $335k subject to an acceptable valuation. The valuation came back at $315k. I went back to the vendor and said that the valuation was low and I would not be able to get finance approved, and submitted a new offer for $315k as this was what the valuation was…[Read more]

TheFinanceShop wrote:
Also re off the plan purchases please be careful and make sure you invest the money and have a good solictor review the terms and conditions of the contract, e.g. the last thing you want is to get to Q3 2014 and be advised that the construction has been delayed for another year or more.

Or even worse get to Q3 2014 and…[Read more]

Whatever you do don't cross securitise. Do yourself a favour and give a mortgage broker who knows what he is talking about a call- Jamie who has posted on this thread certainly does.Cheers,Luke

Yes I did mean town planners who work at the council. You can go and see them in person but they may or may not be much help.Luke.

Ask for the insurance policy details from the Strata committee. I think typically the strata insurance covers the building and loss of rent associated with any major damage, but does not cover fixtures or fittings within the individual units. You can get contents insurance to cover this if you want to.Cheers,Luke

Yes I would think it could be done via a loan type arrangement. I have heard someone (I cant remember his name) from Chan and Naylor talk about equity shifts as an asset protection strategy. They charge an arm and a leg so I am sure there is someone out there who could do it for a more reasonable fee.What are you trying to achieve? Asset…[Read more]

Generally you will be able to sell each half of the duplex individually for more (combined) than if you sold them in one line. The reason is that if you sell them individually, you can market the duplexes to home buyers and investors, whereas if you sell them as a pair in the one line you are lmiiting your target market to just investors with e…[Read more]

Hi Marty/Others,In regards to working under an ABN though an agency, how does this effect borrowing ability? For example, I have been employed in engineering for 5 years under a salary arrangement, but am considering taking up a position where I am paid under an ABN through an agency. Would this impact my borrowing ability if I want to purchase…[Read more]

The implications for depreciation are exactly the same as if the property was owned outside of a SMSF- it reduces the taxable income.Cheers,Luke