Anne,

I had two negativley geared properties when I read Steve’s book and decided on a change of appraoch. However, I was and still am happy with the growth these properties are giving so didn’t want to sell either.

So, I didn’t, one cost we $30 a week, so I went and found a +ve geared property that earned that amount so now the extra on one…[Read more]

Hi Jo,

Yep that’s a good one! Worse than my scenario. At least I can afford to replace the fence but hard luck for those that get a new fence but can’t afford to replace the house.

Just shows that we do need to read the fine print, however boring it may seem at the time.

PK

WEll, rents on three of our 4 properties have gone up since May, each was only $5 a week more. Two have long term tenants who have stayed and the third is a unit that has always have short term tenants so time will tell on that one. (All in WA).

PK

Hi there Gabbo,

1) I haven’t done this myself although have looked into it a bit, hopefully, someone else will reply that’s actually done it, but here’s what I found:

2) How long the subdivision may take varies depending upon the council and what else is happening in the area. One area I looked at, the council said it usually takes about three…[Read more]

Ah yes, insurance policies are forever changing!

I have just found that our policy does not cover the fence falling down due to wind or storm damage! Fences don’t often fall down for amny other reasons so they have certainly reduced the number of claims they will pay out.

Never mind, we found out on an affordable item, thankfully. CommSec has…[Read more]

Ok, on a serious note, the things that would stop me investing in a town like you mention would be ”
a) population declining
b) one industry town
c) no form of public transport to the nearest city.

I have a property in a town of 4000, where the population is stable, it may even show a rise in the next census if buidling approvals are anything to…[Read more]

I odn’t have a report to send, my concern si that their free data has not always been accurate.

I recently emailed them about 3 towns where their data didn’t match the ABS data. They agreed it needed updating!!! It has since been updated “after a couple of reminders” (took over a month for them to do so), but I am concerned to to how many other…[Read more]

Scott.

Looks lovely.

PK

Spot on jhopper.

I’d probalby put “subject to you being happy with a building inspection report”. Once you have received that, if there is too much to be done then you are not happy and can opt out or renegotiate.

Good Luck
PK

Zen,

Dunsborough has been “going off” for some time so they may have had it long.

Simond, it may depend what your long term goal is, do you want the cash as deposits on something else or are you looking at capital gains with the tax breaks that a negativley geared property will give? As well as depreciation? Think about what you long term goal…[Read more]

That depends upon the council and the type of zoning etc. Things such as sewerage affect this. Often the answer is no or there still needs to be minimum land size per dwelling ie: The area I live in doesn’t have sewerage connected, so although we have a big block we are only allowed one dwelling on it until sewerage is connected. We aren’t even…[Read more]

Lisa,

It’s not all doom and gloom, I self manage two of ours and it’s not been a major headache. Yes, there’s been the odd hiccup but nothing that couldn’t be sorted over the phone or by phoning a tradsperson in the area to look at it. Having said that you can always change over to an agent if you find it too much.

Best Wishes
Judy

You can buy this kind of stuff from RPData. When looking at population stats (ie: their free data), cross reference with ABS as the areas sometimes include surrounding areas and not jsut the town etc, so make sure your getting the info you are actually trying to find.

Regards
Pk

Time – I htink the biggest sacrifice is time. Using it to research and look at towns/suburbs and IP’s.

The other thing we’ve sacrified is our veradna on our PPOR. Would love to have one, but each time we save for it we end up using it as a deposit on an IP.

Correct in that it doesn’t affect your Rental Yield.

HOwever, does affect you if you wish to sell or if you wish to use the property as security.

Marisa,

Someone on here (and I can’t find it now, but perhaps someone else can) made the comment ath you bought a land and building package then the 12 months starts from signing up on the package, however, they said if you bought land and just held it then purchased the building separately then the 12 months would start from when the building…[Read more]

Hi Kerry,

Do a search on the word Geraldton, I think you’ll find quite a few threads where Geraldtonoa dndifferent ares of Geraldton have been discussed.

On a personal note, we have a unit there that is +ve cashflow, alhtough not by a great deal so if interest rates rise it will become neutral. Having said that the rent has gone up recently so…[Read more]

I’ve got polices with EBM (that’s Rentcover, mentioned above) and also with CommInsure. Both do quotes online so I usually compare prices etc first and then buy.

Regards
PK

Well Dangermouse, if there is no cutoff for building depreciation in NZ then it’s probably worth getting a report done. Contact a Quantity Surveyor over there and explain the age etc and ask them it’s worth doing one, one of the team you have behind you may be able to recommend one.

Good Luck
PK