good point Jason – yes if you need to go to a Tribunal Hearing it will be where the rental property is (or nearest major town). So unless you live close by it is a major pain to attend

I urge you not to privately manage your IP, it makes it all too personal imho. If you are set on managing it yourself, please protect your privacy by only giving your tenant a mobile phone number and email address (no landline numbers). Also make sure you use a PO Box for correspondence – preferably not in the suburb your living in.

wow nothing wrong with that, the price seems very reasonable to me. Yes I think internal photo's would help and also more information on extra's ie. heating, cooling, hwsIs there a glut of rentals on the market at the moment?

Hubby and I have just done this – Richard Taylor from this forum got the process rolling for us, we settle next week. It has cost approx $10k to do this (we were able to use our Super money for this cost).

Definitely worth doing – the schedule will be for 7 years. Your accountant will then be able to write off/add to it as needed

We went through a similiar thing last winter and borrowed a column oil heater to get us through. We have now installed split systems.Do they take a long time to heat warm up? I much prefer split systems, they are cost effective to run and you have the option of cooling as well

lol no problemo Richard – happy to shout it from the rooftops You have made the whole process so easy for us.
This is the 2nd time Richard has been able to help us in 18 months

Hi Salina,
I am the forum member that Richard is referring to.
Combined my hubby & I had just over $100k in super. Richard is helping us get a deal across the line with purchasing a property in regional Victoria (very close to our existing IP) – so far so good

Hi – just sent you the one that I use. Cheers

unhappydays – I am sorry but from a landlord point of view your post makes me cross. I am sorry that you have no outside support to assist you – but you do have options, you could move into a caravan park/backpackers/rent a room and store your belongings until you find accommodation. Yes that will involve moving your belongings twice – and it may…[Read more]

gosh sounds like me ex tenants from hell – hope the property isn't in the Gippsland area?

I am a little biased as I bought in Seaford 18months ago and love the area. But I have experienced good growth – paid $284k, next door recently sold quickly for $340k and there is a unit just up for sale with Harcourts for $369k – very nicely renovated would suit investment.Frankston is definitely on the up and is experiencing great sales at the…[Read more]

Hi Laurie & welcome.

I looove Mornington & would buy there in a heartbeat – do the units you’re looking at have yards?

Not really a fan of Carrum Downs sorry. We live in Seaford (close to beach and train station) so my bias is there sorry

Kikki K is fantastic for office organisation.

I scan each document and save onto a USB stick under the FY, then property address, then folders for bank statements, etc etc. I find this is what I refer too rather than the original. I enter the details onto my excel spreadsheet – I try to do this once a week.

I file them all into an expandable…[Read more]

Depends on how far away it is from a major town? One of our properties is 10km's from a major town

With your calculations are you looking at Interest Only repayments on the loan? Plus depreciables – will the negative gearing drop you down a tax bracket? You can claim theses as a reduction in your pay or as a lump sum when you do your return

Good question – one we are considering also,
Is there a bath there already?
We are going to go a normal sized bath that is a spa (not a corner one) with a shower overhead and sliding glass doors. Stepping in and out of a bath could preclude an older tenant, but our house is 2 storey so steps would be a problem with older people anyway.
Our friends…[Read more]

Corner blocks are good for dual access to the property, especially if it has sub division potential – but avoid a busy one (road noise). Avoid ones at T intersection – where the headlights will shine directly onto the house

I like the acronym lahdink The link to the article says Chloe is an apprentice hairdresser – true, she maybe coming to the end of her apprenticeship at the age of 21. Checking out the homecentre website it seems to target first home owners & the first home owners grant – so they will have to live in it for a period of time.Even if they do plan on…[Read more]

Whilst being mindful of the mammoth scale of the flooding occuring at the moment in QLD and the very sad loss of human life – you may find unaffected/habital properties in these areas to be in high demand.This certainly was the case in Kinglake (to my girlfriends property) after the bushfires as people hunted out something they could live in…[Read more]