Yazdan,
I agree with the previous post. You have some difficult decisions and they need to be made now. In this situation you cannot afford to be picky. You’re in dire straits and discarding the share house/border options because you have teenagers sounds like you’re still trying to look good (and protect the children’s status) even thoug…[Read more]

Second question first.  You can get rent sheets from the local real estate agents find out what something similar is renting out for.  Or get 2 or 3 property managers to go through for a rental assessment.  If they know they're not the only ones offering an assessment they won't be too surprised when you don't call them back.Not being an ac…[Read more]

Yes, it would be double dipping.  (I've already asked my accountant that question.)  I'm already getting a tax benefit by salary sacrificing *all* of my vehicle expenses, which is way better than just claiming the kms to and from rental properties.  I would have flown and hired a car over there – that would have been tax deductible – unless yo…[Read more]

If you salary package your car and costs then all the expenses come out pre-tax regardless of private or personal. I own the car but package the expenses because looking at houses (oh and other things [evo]) I do a lot of kms.

Of course that’s not an option for everyone’s income source but if you do enough kms it’s worth looking into.

Hi Shelley,

Sorry to hear of your troubles. Unfortunately, it sounds like you have to go at the pace of the PM you have. I do think though that some PMs need to be held more accountable for the tenants that they do put in. And if situations arise like yours where the tenants are in default from day one then the PM should forgo their letting…[Read more]

Hi Jon,

Have emailed you direct.

I’m an IT consultant (DBA & Apps developer). It will finance my addiction to real estate … until my portfolio becomes self supporting!

I would definitely be interested in which financials go to 80% on units.
I once went to offer acceptance on 5x2br, and build/pest inspections with a pre approval from a bank on 80% and then as soon as it went for real they’d only go 70%.
Although I understand their theory of fire sale if their % required wasn’t such a problem they’d have more…[Read more]

The one thing I found that worked is to deny that Mr or Mrs X lived here. If they ask for either of these people I know they’re going through the phone book.
Since I’m not a Mrs (or a Mr) and my children don’t have a surname of X they don’t know me or my children, so I don’t want to talk to them.
Had a persistent one though the other night who…[Read more]

I would be:
1. Talking to an accountant.
2. Getting a proper valuation.

But my opinion is:
Your 1/4 or 1/3 share would depend on what the original agreement was when the purchase for $150K was made. If your parents were operating as 1 share then it would be 1/3. If they were operating as individuals then it would be 1/4.
If you are selling your…[Read more]

1. Yes emailed you direct.
2. Depends what you’re using the solicitor for. Conveyancing doesn’t matter so much if it’s investment or PPOR. If it’s for other legal matters regarding IPs then it would matter.
I’ve always heard that the accountant should, but my experience has not been that good.
The accountant with investment properties gave me…[Read more]

I’ve got no problems with PI in Mount Isa and I think the returns are good. Although they’re not as good as they could have been this time last year at least they’re on the market long enough to go and have a look at them! The vacancy rates are really low, and with the new mine opening/opened I think they’ll be low for a while.
I just bought a…[Read more]

Hi Melmac,

Having just been down that track I know exactly how you feel. Seems a bit raw that out of 7 you only get the PPOR but there’s a story to everything. I at least got the PPOR and, after an additional cash settlement to him, 1 of the 3 investment properties. Since I did *everything* related to the properties it was just a matter of…[Read more]

Having just been through property settlement after a nearly 4 year defacto ralationship, I believe pre-nups and any other form of financial agreement in a relationship, only work if both parties still want to stick to it. If only one party wants to stick to it, and they’re prepared to argue over it, then basically anything you might want to be…[Read more]