Sorry I don't want to highjack this thread but is sort of on the same line…. Say you were planning to sell in the coming 12 months or so and the tenants lease was up for renewal, could you offer the tenants a period rent free in return for a higher amount for the remainder of their lease. When the rent free period is up advertise the property…[Read more]

Hi minds-eye,

I am aware of the 6 year rule but believe the property must first be your main residence. As copied from your link….

As a general rule, a dwelling is no longer your main residence once you stop living in it. However, in some cases you can choose to have a dwelling treated as your main residence for capital gains tax (CGT)…[Read more]

You will be able to while you are living in it. While it is being rented out you can't treat it as a PPOR.

I have had a few issues where I felt I was getting pretty ripped off. Now for any issues I get the agent to advise me first then generally request a quote. If it seems extreme then its not to hard to chase up a quote yourself from another service provider or get the agent to get another one from someone else. All good in hindsight I guess.

If the rest of your house has Gyprock ceilings then Freckle's method sounds like the best and easiest. Hire a sheet lifter for a day and youtube how to do it and you could knock it over as a little DIY project.

Jye and Tahnee,  If you click on the blue 'here' it will take you to jamie's link. Then same again when you are on that page to view the report

Hi Oscar,

As you bought unconditionally I am guessing you did a bit of research as to the development potential beforehand? What did this involve? or did you just know from your past experience that this block could be further developed?
Does unconditional mean without the subject to finance clause? Even though you were applying for finance?

Cheers,

Thanks guys some excellent invaluable info there! Appreciate it! Watch this space haha

Thanks heaps for that Wilko! Exactly what I was after. Appreciate it.

Dont be shy guys… I know oscar isn't the only property developer on here….

Cheers Oscar. Just found your thread Developing 101! Excellent info thanks.

Thanks Oscar. That is where my main problem lies though. I am the only one in my friends/family that is keen on property investing let alone property development. Is it just a matter of starting off small and learning the ropes as I go from trial and error?

How did you get to where you are today in relation to property development? (if you don't…[Read more]

List it with both and just tell the existing one you are doing that as you need to sell it asap. Apart from that there are sites online where you can privately list your house forsale.
Also you may find that your local area has a facebook group specific to property sales and rentals in blackwater. My last property was bought privately through a…[Read more]

Where abouts is the property? Are they the only agent in town?

Couldn't agree more Scott. Luckily this was my rental with the lowest amount of weekly rent otherwise it would have been much more painful.
What insurance company do you use and is your loss of rent uncapped?

Hi Guys,

Thanks for all the advice and replies. Sorry hadn't got a chance to get back on here lately.
The tenant has finally moved on (probably after they shut the power on him), and am going through the process of getting the property back up to scratch.
Thankfully have already had tenants ready to move in for a couple of weeks now so they are…[Read more]

Yeah I agree Freckle. My missus doesn't see it that way though. I have tried to explain to her that it would be the same as running a business, you are always going to get bad debts and people who choose not to pay for your service.
Definitely glad that I have multiple layers of protection now as we will only be slightly out of pocket by the end…[Read more]

Hey Jamie,

We are going great at the moment thanks. Hope all is well with you guys and your new addition to the family!

Yeah it is a little frustrating at times, but I am glad I have insurance so I won't have to waste time and effort chasing an ex tenant who will probably never pay!

Cheers,
Nathan

So in your opinion freckle there is good money to be made in FX selling the JPY against USD?

Interesting topic. Is it possible it could be positive for those states that are not directly effected by the war? Increased industrial production of vehicles, weapons etc? Would it lower the unemployment rate?