Hi MarkyMark,

In answer to your questions:

Monthly statement detailing all financial aspects of the property?
Yes, including original copies of invoices/receipts of repairs carried out by tradespeople on the relevant IP.

Do any of you guys acquire a copy of the “Residential Tenancy agreement” for each property?
Absolutely!!! As a landlord it…[Read more]

Hi Geo,

Thanks for your vote of confidence!!! Many of the properties in these areas will not stack up against the 11 second rule, and as such may not be in effect be +CF. However, there are still a few that can be classed as +CF if you look hard enough. But prodominantly I did not nominate them for that reason, moreso because they are still…[Read more]

I am not disputing that in the slightest JetD; no question about it.

I have no fear of being “tracked”; although I do go to great lengths to protect the women I work with; but that has nothing to do with whether the IP can be identified. As I said; I have no objections if people wish to question my IP address, or if they take it upon themselves…[Read more]

Reservoir
Heidelberg West
Whittlesea
Frankston (excl. Nth)
Carrum Downs

All these areas (in Melbourne) are/have been undervalued for some time, however (according to my crystall ball) should experience good growth in the next decade.

Why would I buy there….still very affordable, why else???

Jo

Hey why stop at movie tickets???

Why not dinner and dancing???

I can just read the rental agreement, landlords sign here:

“you wine and dine, and I’ll pay on time”!!!! [laugh4][laugh4][laugh4]

Fair comment Desk Top,

Guess I read your post as being adamantly “sold” on the idea. If nothing else, posting your question may have forced you to look closer at your venture, and in so doing has alerted you to possible dangers in such purchases.

Good luck on your decision.

Cheers,

Jo

Hi Desk Top,

Sounds to me like your mind is made up, and you are sold on these apartments already, and if that is so, why are you asking our opinion???

Generally if I am that confident about a purchase, I don’t need anyone else’s view on it. Maybe you still have doubts???

Jo

Hi Luckyone,

Sadly NO [glum2]…it was my first property purchase, and I was self-managing, probably because I was still young and niave; and believed that people generally will do the right thing. Which in many cases, they do, but one should never “assume” such, and therefore landlords insurance is a MUST HAVE!!!

I have it now, and have done…[Read more]

Hi Piper,

Firstly, welcome to the forum!!!

As a fellow Victorian, I can tell you that the PM fees vary from suburb to suburb, and I would imagine differ greatly between regional and rural areas.

Nonetheless, my IPs are Melbourne (suburbia based) and generally the fees in these areas range from 5-7% but you can negotiate less (say 6%) or if…[Read more]

Jet/Kay,

The IP address is a good thing to identify users, and if you check mine (which you are more than welcome to do so; I have no objection whatsoever) you will find it pops up everywhere, on this site and others.

Do I have a mutliple personality disorder; on the contrary!!! There are other users who share my IP but they are not me, and/or…[Read more]

Wow….slow down boy!!!

Website??? With pictures??? [shocked] Ummmm…definitely not possible!!! Confidentiality is a BIG issue, not only from my perspective, but for them too, even the women are not allowed to tell their “friends or families” where they are staying, as there are many women (and their children) in hiding from their abusive…[Read more]

Thanks Geo,[blush2]

I can tell you one thing for sure, facing these women is very humbling; when you see their battered faces/bodies you soon come to realise that what you have is sooooo much more, and (if you’re not religious) you at least come to a better place within your soul.

It is definitely the most “rewarding” work I have EVER done, and…[Read more]

How many hours do I “actually” work???

Hmmmmmm….well it used to be about 10-15 hours (from home) but now I’ve taken on a more active role in the Women’s Refuge and that means anything up to 30 hours (sometimes more, but certainly nowhere near 50 hours; I don’t think I could survive that these days)!!!

Normally, most would say an increase in…[Read more]

Hi Mark,

I only have three words for you…FORGET PROPERTY INVESTING!!!

Obviously, you don’t like the idea of wrapping, you don’t want to be “bogged down” with a mortgage or sit around waiting for the next boom; so am I correct in thinking you want a “get rich quick” scheme??? If the answer is yes, then maybe you should look at other…[Read more]

Hi Sooshie,

Firstly, hope you mum is well.

Secondly, if it is the backpackers hostel I am thinking of (inner city suburb Melb) this block has been on the market for yonks!!! Seems the price is too steep. Good returns but big outlay.

Cheers,

Jo

Hi Ko_starr,

Firstly, welcome to the forum!!!

Positive cashflow (geared) = income minus expenses equals money left over (surplus)

Negative cashflow (geared) = income minus expenses (insufficient therefore) + money needs to be added to cover expenses

Equally, a neutrally geared property is one where the income and expenses balance each other…[Read more]

Originally posted by Greg F:
My wife and I’ve enjoyed almost 100% occupancy on our numerous IP’s over the past 20 years or so because we follow a couple of simple rules:
1. Charge market rent whenever you can (“make hay while the sun shines”) BUT…
2. DROP THE RENT $20 BELOW MARKET PRICE WHENEVER TENANTS ARE HARD TO FIND. (We find 15% reduction…[Read more]

Welcome Back Geo,

I remember you briefly from when I first joined, and it’s nice to see your name pop up again after so long; especially seeing as you’re a fellow Victorian!!! [medieval]

Cheers,

Jo

Yes Ricksters,

It is possible!!! When you pay enough of what is owed on the property (principal) that any of its associated costs (insurances, rates etc) become less than the income (rental) it generates.

Cheers,

Jo

Hi Rakky,

A few questions first, if I may:

1. Is the IP the only property you own???
2. How long has it been a rental property???

That is, if it is (ie. you are currently renting where you live) you will be exempt from CGT for up to 6 years, but you must not have purchased another PPOR within that time.

You are correct, if you sell the IP…[Read more]