maree_bradross wrote:
I would I know of people who didn't do a final inspection and when they got the keys on settlement discovered all the built in wardrobes had been removed

I make sure i take pictures of the wardrobes.

Lalibella wrote:
I certainly would. I've been burnt before and now I take a date stamped  photo of every surface I can point the digital at. The tenants dont particularly require a copy as they will probably know you are doing it anyway.

Thanks mate.Any things that i should concentrate taking pictures of? i cant be taking every inche of the wh…[Read more]

Results1 wrote:
Hi Nit,Not sure if you are aware and I have only heard and not read yet, but the  insulation rebate for rental properties is apparently about to go up to $1600 – assuming your townhouse is a rental and not PPOR. May make a difference to your decision making.

Currently going to be PPOR for my townhouse, turning into IP after a…[Read more]

hydramax wrote:
NitroAll new customers with St George are able to apply for Negotiated Basic Home Loan. The idea is to attract new customers to the bank.The 2 loans are exactly the same. The 09% discount is for the life of the loan. For current customers to be able to apply they need to increase their lending and then they can convert to the N…[Read more]

QGM wrote:
Hi Nitrodrops  You can download from the Qld Government website for free.Go to Departments – Look up Fair Trading there is a section for forms and you will find it there.  If you have any problems send me a fax number and I'll forward one to you. 

Thnx mate. Managed to get a soft copy this morning from my selling agent.

Qlds007 wrote:
Nit you wont get it for nothing he will need to purchase it from the REIQ or get a friendly agent to provide him with one.

Thnx Rich

Dan42 wrote:

nitrodrops wrote:
Btw, is the rental income taxed @ 50%, something similar to CGT? CheersNit

Rental income is taxed at your marginal tax rate, the same as salary income etc. Capital Gains are also assessed at your marginal rate, but if you have had the investment for over 12 months, you only pay tax on 50% ofthe Capital Gain.

Thnx dude.

Scott No Mates wrote:
It is always best whether it is for old or newer units. You never know whether the body corporate is harmonious, whether it ends up in a fistfight or if there will be special levies on the horizon eg fire safety upgrades, broken sewers, new roof etcIn Sydney, there have been issues with BC being too cumbersome, unable to…[Read more]

Hi Guys,Really thanks for all these guidance.In fact, i am thinking to get a 2nd IP, will start looking into offset accounts. Btw, is the rental income taxed @ 50%, something similar to CGT? CheersNit

Qlds007 wrote:
I am with Terry why would you go with the Base rate loan when you can go Interest only with the offset account.It is ot that the interest rate is that good.Wouldnt be making any extra loan repayments off the principal unless you intend to live in the property for ever and a day as redrawn funds may cause you a problem if the…[Read more]

Terryw wrote:
I would suggest IO too. but it won't really work out the same if yu pay $360 pw extra as  your loan will progressively be decreasing so the interest will be decreasing. if you want to pay it off like a PI loan you should pay the same $1610.46 each month.

Not going for the PI loan now, as i prefer flexibility, if i have more cash,…[Read more]

Scott No Mates wrote:
There is no way of negotiating for these items unless they were deliberately hidden and further inspection was required to uncover them. Your main areas which are negotiable are things like pest infestations/termites, poor building practices/non-compliance otherwise you would be whistling in the wind and any solicitor worth…[Read more]

Scott No Mates wrote:
It is always best whether it is for old or newer units. You never know whether the body corporate is harmonious, whether it ends up in a fistfight or if there will be special levies on the horizon eg fire safety upgrades, broken sewers, new roof etcIn Sydney, there have been issues with BC being too cumbersome, unable to…[Read more]

Hi Guys,My solicitor just sent me a letter, asking me if i want to conduct a full inspection of the Body Corporate records, which normally costs $150 – $250.Is there a need for this?CheersNit

Scott No Mates wrote:
There is no way of negotiating for these items unless they were deliberately hidden and further inspection was required to uncover them. Your main areas which are negotiable are things like pest infestations/termites, poor building practices/non-compliance otherwise you would be whistling in the wind and any solicitor worth…[Read more]

Event Horizon wrote:
hi,Timber house might cost you $1000yr but how long is a peice of string really, I have a few timber QLDers, but most expenses are tennant related not maintanence and some years there are no maintanence costs.Prices are soft  in the inner areas from my observations right now . try inner south 450k for inner is a stretch but…[Read more]

Thanks guys for your so many constructive replies.Initially, i was looking at the bluechip areas such as Toowong, Indooroopilly, Taringa, Auchenflower. However lately, the prices skyrocketed to ridiculous prices. 2 bed 1 bath apartment going to $380K – $400K.With this amount of money, i rather put in another $20K – $30K (~$420K) to go for a…[Read more]

Jaffasoft wrote:
I think RE Agents have a standard form to fill in. I purchased the Buyer Beware product 5 yrs or so ago and have used that offer template a few times. That is not available again yet. Usually you include a 'subject to clause finance' or some other ;get out' clause and a sun set clause for the agent to accept the offer by a set…[Read more]

the property is currently tenanted at $415/week.Thus i think the reasonable price would be $430K? This suburb has a median price of $490K.

jazamite wrote:
yes they are close to the airport only a couple of klms in a straight line away.  the runways are parrallel to these suburbs so they are not under the flight path unlike more exlusive suburbs in Brisbane like Hendra / Norman Park etc which can get very noisy

Spoke to a mate, he said Banyo is pretty flat, prone to flooding, is that true?