Sounds lovely.  Have you thought about how you will power your house if the power is 2-3km away, look into the cost of getting the power connected from that distance away or how much solar panels and batteries would be.  This could add quite a bit to the initial cost.  Rainwater tanks will solve the water problem assuming they can be tr…[Read more]

No you can't put up the rent that soon, however, I noticed you said you were in Perth and doing this on your own.  Ring DOCEP on 1300 304054 or 08 9282 0777 and request a copy of "The Landlords Handbook".  It's a free publication that has all the rules and regulations that a landlord must ahdere to in WA as well as samples of common forms e…[Read more]

Reading is a great way of learning. Although I have also been to seminars in the past I feel that reading has been one of the greatest ways to learn as you can go over bits as many times as you want.

Now, do read one of Steve’s but also read some other authors as well as there are many different styles out there and you need to read a few to…[Read more]

OK, your appearance is fine, so I’d say it comes down to being young and a first time renter. It means that if you and another applicant apply and both stack up, but the other applicant has a rented before and has good references and you don’t then they will most likely choose the other applicant. (As a property owner I would. You see, in…[Read more]

I have the PIA software from Somersoft and always found that to be wonderful. I’m fairly sure that McKnight has software advertised here that does that type of thing too, so hopeuflly someone will come forward as to what that is like. Plus try looking up “Jaffasoft” posts, I seem to recall reading his posts, offering free or cheap software.

I…[Read more]

It’s called Centrepay and the tenant can cancel the authoristion for funds to be deducted at any time or if their payment is less than the rent then you will only get what is there ie: if they do some casual work and their Centrelink payment drops to say $100 on the fortnight that your $300 rent was supposed to be dedcuted then you will only get…[Read more]

Is the CGT going to be as bad as you think! Before trying to avoid it which is unlikely, look at what it would be. My rough calcution (worst case scenario) would be around $35,000 each but that’s based on the very little info given and it would depend how it was purchased ie: names on the title (joint tenants or tenant in commona nd percnetage…[Read more]

Also read the article in this months API magazine about “secondary market properties” (page 50).

It doesn’t answer your question but it’s food for though on resale prospects.

Good Luck
PK

I have never bought in Kalg but live in WA and have investigated the market several times.

What I have found is that when resources and doing well so does Kalg. When resources are not doing so great then often you’ll need to reduce rents to get tenants or you’ll ahve periods where the property is not ntenanted and the porperty doen’st appreciate…[Read more]

I don’t’ know anythinga bout “off the plan” buying, but is there anything stopping you selling your “off the plan unit” now? I know it’s not built but you bought it that way, can you sell it that way too?

You could get a valuer to value the property, explain what you are trying to achieve so he can separate the values for you.

Or try ringing the valuers general office in your area and see if they can help with land value.

Or ring a different agent in town and ask if there are any blocks for sale around the area of the house, if so, ask the price…[Read more]

Get a valuer to value the property at this stage of development and they pay out your half of the valuation figure..

Or go halves in the current land value and they cover the house cost in full.

Unfortuantley it doens’t sound like a contract was written up prior to starting covering this type of thing. Perhpas next time do, as this could cause…[Read more]

Hi Jeff,

Are they on a lease? There may be a section in the lease, if so you will need to abide by it.

Secondly if they are on a lease then I think they have to stay while you are selling, but if they aren’t then they need only give you 21 days notice (in WA anyway that’s the standard notice) that they are going to vacate and then you are…[Read more]

Hi Niki6,

Firsly I know nothing about Sydney and the market there so can’t hlep with specifics, but I guess the things I’d look at are:
A) why do people say not to buy them, is it a good reason or is simply a personal view they are airing?
Check what vacancy rates are for these type of places ie: ring agents in the area and pretend you are…[Read more]

Hi there Islandgirl,

First thing I’d do is ring another agent that manages property in the town and find out what vacancies are like and if $120 is the normal rental rate.

I’ve known owners who will pay the rent for twelve months themselves so that they can sell the property so just make sure that after the intial 12 months you will actually be…[Read more]

Also check you can get insurance and the cost (this may drag the yield down) as you are willingly letting people into the home to view it so not insurance will cover you for some types of damage. Check it out before buying.

Could be a good thing, just check everything out first to be sure.

Regards
PK

Before you purschase you should have your exit strategy worked out so you know what you are trying to achieve.

For some people this may be a buy and hold until they retire and then sell some to pay off others so you then have the rent as income on the ones that are now paid off.

For others, they may wait for a ceertian amount of growth and then…[Read more]

Can’t be done in WA either unless your spouse has died and the home was as joint owners (not tenants in common), then with the production of a death certificate they will transfer the name on the title to the living spouse.

PK

Hi Pilum,

Back in 2004 when this thread first started, properties in Balga were around the $200,000 mark. Seems I picked a right suburb becasue as you started the prices have grown remarkedly. Shame I don’t have an IP there![annoyed]

PK

Yes, I’m happy to buy, been checking out various states other than WA but haven’t found what I’m looking for yet.

PK