Hi Scott,Do you have a link for this for the curious?ThanksMick

Not wanting to throw a spanner in – but what if she wants to move or you want to sell before the 6 years is up?

Are we talking structural or just cosmetic? You dont want to fall into a potential liability situation if it is an IP and an accident occurs.mick

Can I make the suggestion of wprking out why you are investing first. Once you understand your why, you will find a strategy that suits you. This will help avoid alot of information overload. What I mean is, if it is your goal to retire in 2 years then your investment strategy will be different from someone who is looking to fund their childrens…[Read more]

I was going to suggest the same as Linar. You may have to sign a waiver saying that if anything goes wrong with the paint then you wear it as you did the base coat. But it may be worth asking. I would really try not to get them offside, you still have to get them to finish everything off properly.All the bestMick 

be nice if it is , you will hear me chear from here!!!

OK Harb,I am suitabely impressed with your wooden floor and will have to note down the estopol because I truley didnt think it would have been that durable. There must be a lot of tight ar$*$ around finising of the wood, I have seen even the dogs toenails leave scratches!!!!CheersMick

Just picking up on the LAMINATE wood flooring. We had that in the PPOR we have just sold. Quite large open areas, kitchen and hall way. We had a wood fire and the floor holds the heat nicely. Much better than the tile one we are currently in. We still had a couple of mats. Interestingly, it didnt seem as hard as the current tile one…..A couple…[Read more]

And that is exactly why I have invested in rental properties in mining areas. My most recent ones are in the lower Bowen basin where there are several major employers. There will always be more and less risky towns to invest in, it is up to the individual to determine their "risk comfort level" and apply that to their investing.

Hi Jon,He was talking about realestate.com. The link is for a company that will put a FSBO listing on realestate.com for $490. Personally, I think it is an excellent option. I have always felt that everyone should get paid for the work that they do. I once had 2 properties with the same agent, a vacent block comission $2300 and a house comission…[Read more]

With the vendor agreeing to fix the issue, do you feel more confidant in your purchase?

Dont worry about what the agent says, he is only looking at his commision walking out the door. Look at your wording. I always have mine say words to the effect of "building inspection satisfactory to purchaser". Ask you solicitor where you stand. They will advise you on the wording. If it simply says " subjsct to building inspection" then you…[Read more]

I currently am involved in a JV where I am the "time" partner so to speak. My buisiness partner is the finance. Many on this site said it wouldn't/shouldn't/couldn't be done. However, whilst the split is 50/50, we have it written into the contract that so is any debt liability. This alleviates the any concerns of my partner that should it go "pear…[Read more]

What about going the other way? If using the above example, the PPOR was sold off (you would think appropriate exemptions would apply), withthe subdivided land being retained for construction of a new PPOR. When this second property is sold, what would the tax implications be, if any given it will have been a PPOR for a period of time? Just a…[Read more]

Hi Jas,The idea is noble and please dont take offence to what I am about to say. From your comment " Investment strategy will be either reno, duplex, subdivision,etc, not sure yet." I gather you are not experienced investors. Whilst your heart may be in the right place, and as you said, you and your sister will be responsible for the loan…[Read more]

The other thing about drawing it off your credit card – something the most people are not aware of until it bits – is that you pay interest on the WHOLE amount until it is paid off. ie draw down $30 K pay interest on 30K, pay back 20K, still paying interest on $30K. Not fair I know, but it is in the fine print – well at least that is how it was…[Read more]

Yep spicey,second reference for Richard. What have you got to lose? And possibly a lot to gain.mick

A – but only because I keep building and selling.A, B or C????? I agree, what matters is the debt level and cashflow. I will take my 4 low LVR over 8 high LVR in the current market. 5 years ago, my opinion and thus exposure was different. Lasting in the game is all about being able to roll with it and avoid having to make hasty decisions.mick

Im sorry, but I am am firm believer in teaching one to look after ones own a%$e. The type of finance product doesnt matter, at the end of the day it is the banks job to make money, it is the consumers to look out for their finances. There is always fine print in life and the sooner we teach kids to start reading it the better. Then when as adults…[Read more]

Karen,PLEASE, PLEASE, PLEASE conduct you DD very very carefully. There are so many stories of people thinking grass is greener only to find that they have been legally conned. Buffulo is a very good example of this. So much so that the city mayor is actively discouraging overseas investors. Cheap place bought buy "clever buisiness man" advertised…[Read more]