Hi Matt

The concept of a I/O loan with an offset account gets thrown around a lot on this forum as the ideal set up.

And, in most scenarios…  it is !

As others have highlighted the benefits and how the structure works, i won't re-hash that…   what i will say but, is it all falls over is if you are not totally committed and disciplined in…[Read more]

Hi Matt

That sounds like a great plan…  it's also how i got started with property

Not sure if your still single, but renting a room to a mate will very quickly add to your savings.

When you do buy the property, just try to keep in mind that it is only a stepping stone for you, and ultimately it will become an investment and as such, buy…[Read more]

Hello Mate

PM Sent

Hi Matt

You’ll do well mate

When you talk with a broker, make sure they understand your long term plans as this will have an impact on how they structure things.

Oh, and make sure you ask a heap of questions, and most importantly, you understand the structure they are recommending.

Knowledge is power…

Cheers

Matt

Hi Matt

Initially, well done on saving such a significant deposit at your age.

I would defiantly recommend going via a broker. Both Richard and Jamie who have commented above would serve you well.

Have you thought about your long term strategy at all ?

Eg. Are you looking to simply buy one house and pay it off as quick as possible, thus living…[Read more]

Hi Ryan

Having read your article, I just wanted to highlight the following questions you pose. They really are great questions that will very quickly qualify if an investment is worth looking further into

Quote

Ask yourself the following questions when considering purchasing an investment property

1. Will this move me towards my goal in the…[Read more]

Hi Munmun5

From my understanding 95% of agencies will allow their sales agents to sell each other's listings no questions asked.

The commission split is generally 60% for the listing agent and 40% for the selling agent.

Some will argue that the listing agent won't try as hard to get a sale across the line if it's not their buyer because of the…[Read more]

Hi Luke.

I know in NSW a tennant can break lease without penalty if they are moving into aged care or community housung. Same for somebody needing to move due to domestic violence issues… not sure if that extends to defense force personnel but.

I doubt that your PM would be willing to make specific reference to the new act if they were not…[Read more]

Hi Ynchai

What are you exactly looking to achieve by paying your house off in full ?

If you are looking to have the house paid off in full so that you can move in to it, put your feet up and relax living life without a mortgage then Dave Ramsey has some really good ideas on debt cancelation etc   (www.daveramsey.com).  
Please note, he is…[Read more]

Hi Melissa

To answer your question;

Pros

Increased voting power at AGM
Less effort involved to stay across portfolio (eg. you only need to be a part of 1 strata executive etc)

Cons

Should a special levies be required, your responsible for two portions
Should you need to sell both units quickly, having two identical units for sale in the same…[Read more]

I'd be asking a few more questions, yeah…

The plumber who did the job – what report / reason for the blockage did he provide ?

Hi fingerscrossed

Its a grey area…

Did the toilet block because the tenant was intentionally trying to flush nappies or did it block because of old pipes / poor pressure etc ?

Matt

Hi icecric

Might be an idea to confirm your intentions with your PM as well.

If your property is either a studio / 1 bedroom you may achieve higher rent.

If the property is a 2 Bedroom +, having it fully furnished can detract from your property.

Eg. If you already own your own furniture, would you pay extra to live in a property where you…[Read more]

A little of topic, but worth considering when working with tenants to schedule the sales process. In NSW, with the last major changes to the act, your tenants can simply up and walk if you decide to put the property on the market…

Residential Tenancies Act 2010 No 42

100 Early termination without compensation to landlord

(1) A tenant may give…[Read more]

Hi Dennis

Yeah, there is two sides to every story.

First thing that comes to mind is that although time frames differ in each state, you can’t just ‘put the rent up’ without providing sufficient notice…

In regards to the current PM, in the same way that property values fluctuate, so do does rental values.

As mentioned previously, you can put…[Read more]

kateej03 wrote:
Hi,I'm about to put an offer on a house that has great rental returns, my question is can you have the offer subject to the tenants staying on once the house is sold, or is the lease the tenants have signed valid for new owners? It's probably unlikely the tenants will move out but just in case.Thanks,Kate

Hi KateWhat state are…[Read more]

Hi ScottI can keep you updated on what is happening here on the Central Coast as far as off the plan developments go.Give me a buzz if your interested and we can talk further about specifically what you are after…

Hello FolksFrom a rental perspective, Granny Flats are great for the elderly in-laws, adult child or a rental if you are living in the main residence.  if you plan on renting out both the Granny Flat and the Main Residence later down the track you will have difficulties…From experience, where you have a granny flat on the same title with shared…[Read more]

If the property is a good purchase (Eg. Cost, Location, Structural Condition, Actual Market Rental Return etc) i would still chase it, but only with the condition of vacant / delayed settlement.Cheers

Hi NonnieIt is a common practice for tennants with a bad rental history to offer above market rent in order to secure a rental property.Please don't let this fool you…     An extra $20 – $30 per week ($1000 – $1500 per year) is very little compensation for the effort involved when dealing with a tennant who is constanly behind in rent, causi…[Read more]