What you are talking about doing is what Gyprock call "Dry Wall" and the product to use for sticking the sheet to brickwork is Masonry Adhesive.  You can read about it here http://www.gyprock.com.au/ourproducts/products/Plasters/Gyprock™MasonryAdhesive.aspx?ProductId=97Cheers, Pud

Mate,You could be on a winner if you're looking to add value to your block.  You might get planning to fit 3-4 units on your block.  Even if you don't build the units the extra value is there for you to use through increased equity.It sounds good to me from an IP point of view, maybe not so if you want to live there.Pud

Thanks for the reply Daedalus,Thanks for the link also and I agree with your view.  It seems madness to vote for this option.

Sorry Donna,I told you a lie…. well an untruth anyway.  The device does everything I say except play cassettes.  It was purchased from Big W and is an AWA Turntable/CD Player & MP3 Card-Slot device model number UCE1168.  It plays vinyl records, CDs and has an AM/FM digital tuner. The interface is USB 2.0 and has an SD Cardslot so you can re…[Read more]

G'day Donna,I have a lot of records that I want to do the same thing with so I went to Woolworths and purchased a cheap ($130 I think) device that plays records tapes and CDs….  The best bit is it has a USB port for recording to a memory stick then wack it into the computer USB port and let your software do it's thing to provide the format you…[Read more]

G'day ajsc79,I'm a registered builder and would hate to count the number of walls I have knocked out both masonry and timber/steel framed walls; I reckon I could do it in my sleep nowBut…… you do need someone who knows what they are doing; you say it's a unit but is it single storey or part of a low/high rise block.  A lot of questions to be…[Read more]

Yes.  The form is available off the ATO web site and if you want to take advantage of this option at the start of the new financial year then you need to fill out the ITWV form and get it back to the ATO before the end of May.  I do it as a matter of course as the money is better in my pocket now rather than wait until I do my tax return after t…[Read more]

JodieD,My thoughts are to avoid selling at all costs unless the property is a real dog.  After all the purpose is, I would have thought, to develop a portfolio of property which you can't do if you sell.  To develop a portfolio usually means taking on more debt so you need to get your head around that concept first.  Enlist the help of a good br…[Read more]

Reading between the lines it seems to me there is some equity in the portfolio that you could use to ease the shortfall.  If you sell and have to pay CGT; why not hold set up a LOC secured against the equity and use the loc to fund the shortfall for a couple of years.  Reassess then.  Say you are $100 per week too tight to hold all properties bu…[Read more]

germand,Sounds like the back living area is/was a verandah or some such.  Maree is right…. build the floor up if possible.  2nd option would be to include a timber sill at the threshold so there is a definite step to make it visible.  Not the best idea I know but certainly better than a ramp you have suggested IMHOPud

Some more food for thought……  Would you like 1 square metre of land in the CBD of Melbourne or 2000 hectares out the back of Birdsville?  The point I am making is that it's not the amount of land you have but how valuable it is.

My view is reval now…  Reasons?Well you obviously want to reval now,  release equity before it drops further, 6 months (if that's the case) is not a long time to wait,  what will change for the better in the near future if the market has softened a little and is trending down now?

G'day Justgjt,I'm a registered builder in WA and my advice would be to have a consulting structural engineer inspect the problem.  Having said that,  I have also been involved in 1 or 2 similar problems, all were solved firstly by the stabilisation of moisture beneath the structure before other remedial works were done.  The moisture is usu…[Read more]

I also meant to add that I would use the ABN for the income producing business as I would see that as being more credible than an ABN for property investing.Pud

I'm no expert but my understanding is that your ABN is required to show the lender that you are in business which is one of the reasons Lodoc loans was set up. (Because business people find it hard sometimes to show a regular income)  Another good idea is to be registered for GST because it gives the lender an indication of your income: you don't…[Read more]

I agree with Trakka.What you have done is now set the market rent for your property lower than it should be.  It devalues your property as well.

G'day Glen,First up let me say that I am involved with TIC so do what you will with my comments.I suggest you go to a meeting in your area to sus out the situation and ask questions of the people running the workshop.  If you haven't already given your details via the web site or at a meeting already, you will be placed on the mailing list for a f…[Read more]

The best way is to get a quantity surveyor (QS) to do a depreciation schedule for you.  It is well worth the $400-$500 it will cost you.

G'day Robramjet,You can offset the costs by applying to the ATO to vary your income tax withheld from your salary/wages (if you are an employee of course) at every pay day.  This is done by submitting an Income Tax Variation Form to the ATO (available from the ATO website) which should include an amount for depreciation on your IP.  I have a d…[Read more]

G'day vyaw2003,My understanding (and what do I know?) is that acquisition costs are not a tax deduction when you are classed as a property investor (as opposed to being a property trader or deriving the majority of your income from IPs) in the eyes of the tax man.  To claim these sorts of costs you need to have settled on the property.I stress…[Read more]