+1 Catalyst

Because your interest in the property is a direct result of the agents advertising the agent is entitled to their commission, even if you wait until after the agency agreement expires (eg. Sign comes down) to approach the vendor.

Depending on how long the property has been on the market the agent may be your best friend… Eg. If…[Read more]

+1 Catalyst

Because your interest in the property is a direct result of the agents advertising the agent is entitled to their commission, even if you wait until after the agency agreement expires (eg. Sign comes down) to approach the vendor.

Depending on how long the property has been on the market the agent may be your best friend… Eg. If…[Read more]

Hi Sam

I'd would be asking your PM if you need a certificate of currency before you can pass water charges onto the tenant.

In NSW (i don't know QLD legislation, thus why i say ask your PM) as long as it is marked on the in-going condition report that water saving devices are fitted, and the tenant accepts this when returning the in-going…[Read more]

+1

Hang around for a while James… you’ll very quickly learn how to play the game.

Matt

Ps. If your current agent hasn't at least advertised the property and starting running open homes / processing applications (having had an agency agreement in place for over 10 days with the property being vacant) i want to know why the hell not !

Hi Lily

Best approach i think is always the honest one – talk to the agent, explain the situation and go from there.

Wether or not they hold you to the termination fee i would think is largely dependent on how much / if any work they have done on your property…

Eg. Have they already completed the in-going condition report
Have they already…[Read more]

Hi Linda

When it comes to townhouses / units that are strata titled, you need to keep in mind that the levies you pay per quarter go towards the general maintenance and upkeep of your property.

Eg. If the gutters start leaking on a strata tiled townhouse, the body corporate pays to have the repairs completed.  Conversely, if the gutters started…[Read more]

Hi Fay

I think this is really only a question you can answer…

From a purely financial perspective, you’ll do better over the long term renting where you want to live and buying investment properties on the side.

Having said that, from an emotional perspective, there is a great sense of security and comfort being in a place that you own……[Read more]

Hi Jad

In NSW, a tenant can break the lease if a AVO has been issued against a current occupant of the property…

http://www.fairtrading.nsw.gov.au/ftw/Tenants_and_home_owners/Renting_a_home/During_a_tenancy/Domestic_violence_in_a_rented_property.page

Not sure how / if this would extend the neighbor in question ??

If it went to the tribunal,…[Read more]

Hi Muddle

This software will very quickly (with some reasonable accuracy) tell you wether a property will be CF + or CF – 

http://www.somersoft.com.au/piafpu.htm

You can also play with the figures – Eg. What is the cash flow difference between a purchase price of $300K vs a cash flow price of $320K

Having said that, as mentioned above, there…[Read more]

Hi Tracy

Maybe I’ll see you at an open at some stage

I’m currently watching Wyoming as my main focus…

If / when you would like some advice on different areas from a rental perspective you should talk to Ellen (www.therentingexperts.com.au).

Her company has taken care of my property for a couple years now and have been great to work…[Read more]

Hi Tracy

Well done on achieving such a strong financial situation through savings.

My personal preference for property is the classic ‘3 bedroom, brick and tile’ property that is generally pitched at the first home buyer market.

Where I am based on the Central Coast, these are generally priced around the low to mid 300’s.

My reason for this…[Read more]

Hi Patterson

I am a big fan / user of Excel…   but to achieve the above, why not just spend $245 on software that is updated regularly  and does all of the calculations that you're looking to achieve with your spreadsheet (plus a heap more)'

http://www.somersoft.com.au/piafpu.htm

Hi Boro

From the information you've provided, your in a great position to get started…

To answer a few of your questions;

As Benny has said, you need to decide on your method…  Buy and hold, renovate, development etc.   from your comment above, buy and hold or very basic Reno (paint and carpets) will probably suit you the best based on your…[Read more]

Hi Mate

The Newbie Investor wrote:
Than people that pay off a whole property of say $300,000 than after 25 years its worth 350,000 basically you wouldn't of made much in return???? So its better to hold and sell at perfect times???

Have you ever tried to pick the bottom and top of the share market ?

Property is similar in a lot of ways,…[Read more]

You got it mate 

Doing well mate… yes, your correct.

Basic example;

Property Purchase Price = $300K
Consists of a) 60K deposit & b) 240K loan

Property Sale Price = $320K
Consists of a) Return of $60K deposit b) Payment of $240K loan & c) Profit of 20K

Hi Matt

Bang on mate…

If your goal is to pay off the loan as quickly as possible, (to keep things very simple) then there is really only three ways to go about it;

1) Borrow less to begin with (bigger deposit)

2) Make lump sum payments   

3) Make extra weekly / monthly repayments.   

Please note, option 3 is better than option 2 (If you…[Read more]

Hi Newbie

With a Principle & Interest Loan (P&I) where you pay the principle off over 30 years, the repayments are the same each week / month etc for the full 30 years.

So, although you will pay the maximum amount of interest in the first month, and then gradually less interest each month there after as the principal reduces, (and conversely,…[Read more]

Hi Newbie

All good

1) Yes, if you purchase a 300K property, and put down a $60K deposit, then you will have 20% equity. FYI the formula used to calculate equity is;

(Loan Amount divided by property value) x 100 = Equity %

2) The total interest payable is calculated on the loan amount only.   So, if the loan balance is 240K, you will pay…[Read more]