Yes call the number Dereck suggested, but perhpas they are advising that the rent defualt letter should have been sent much earlier, therefore you haven’t taken (or your PM) hasn’t taken the necessary steps soon enough ie: once they were 14 days overdue the first letter of default should have been sent etc. We’re all the necessary steps taken…[Read more]

Everyone’s strategy is different. If $115000 is what you have available to finance the deal the you’d be silly to be looking at properties you cannot afford.

As for capital growth, I don’t know, you may be limiting yourself by cutting out areas that have had growth, it is possible they have had growth becaseu they are in areas that will…[Read more]

Do a search on this as there was quite alengthy discussion a few weeks back about what clasues may be able to be put into the contract to over yourself. See if you can find that thread as it was quite interesting.

But no, at this stage you don’t ahve to remove it.

PK

Niki,

Running away from the problems isn’t always the answer.

Is there any chance of refinancing any of the properties with the cost of the recent expenses included over a longer term to bring the repayments down ie: if you had 23 years of the term left, then add the expense and refinance over 25 or 30 years.

ONce this has brought you expenses…[Read more]

Sue,

I can’t see the differnce either, I’ve just gone through the brochure they send out and it says malicious damage by tenants is covered as well as accidentail damage (which includes the tenants who do unauthoirse painting – not sure how that’s accidentail but won’t complain etc).

I think it might be worth a phone call to clarify, and then…[Read more]

You can also purchase reports from the Valuer General’s office ie: $44 for the last 100 sales in an area.

Their reports tell you the numbersof bedroom, bathrooms. kitchens. lounges etc so you can compare what a house had against the price.

Regards
Judy

Not always easy to find on the net, sometimes you need to do the km’s to find them too.

Or if you find an area that seems close then ring the local newsagent and get the local paper sent to you, the local paper aften shows the cheaper the homes that aren’t always put on the net. And it shows the “To Let” ad’s so you get a better idea of the…[Read more]

I manage one myself and never had a problem but I did do a “To Let only” lease through an RE so they could check the appropiate databases etc. Tenant has been great.

Looks like I had one more I’ll need to manage when renovations finished.

Other 2 are managed by a PM and I sometimes wonder if it’s worth it. In one, the tenant has been there for…[Read more]

Perhaps have a chat at the local council. I haven’t done it but zonings vary for different types of dwellings and this vary form council to council so best to talk to the one where you intend to do the project.

I’m sure others will have more ideas for you soon, but there’s aplace to start anyway.

Reagrds
PK

Marissa,

He probably did mean $23 negative for all 5 and they were mos likely houses, especially if he bought over 12 months ago as Armadale had a bit of a jump then. We were lucky and bought one there prior to the jump in prices (they went up around 20-25% over the year), it is now neutral (if you include the tax return we get from it).

And…[Read more]

Joe,

I think it’s got a chance. Have you considered looking for one that’s under the average price for the area because it needs a bit of work, do the work and captialise that way.

Also make enquiries as to wehther there is still work going on in the area in regards to the “New Living” project, if so there might be a chance for further gains…[Read more]

Well for WA….

for captial gains I’d still pick Rockingham and Mandurah

for +ve cashflow I’d pick Merredin, Geraldton (if you can find any left) and Kalgoorlie (if you can whether the ups and downs of the mining industry).

PK

Newgen,

I don’t imagine contents insurance covers this sort of thing, but have you rang them to check, just in case. Also have you rung St George bank and expalined what has happened and checked with them if they have any insurance on which you can make a claim?

Just thoughts, no promises, but owrth checking out.

Regards
PK

Hi Wayne,

sorry it’s taken so long to reply but looks like you’ve had heaps of replies anyway.

Now we didn’t go cool breeze, but we’re up in the hills so wanted heating with it, went refrigerated (Fujitsu). As we’re on water tanks evaporative would ahve been no good for us as they use water and although water is precious everywhere it’s not so…[Read more]

Gas is great if you are on mains gas, but if you are on gas bottles then don’t put in a gas bayonet as heating when on gas bottles costs more than electricity.

PK

Try Airconditioning Solutions 93981777. I found them to be very helpful in advisng the right system for our situation ie: we’re on water tanks, are few degress higher than metro in summer and have frost in winter. The consultant we had was Tony Ryan and from emroy I seem to think he might live up that way.

Others ones I faxed for quotes at the…[Read more]

Be careful about the top price the agent gave you , is it realistic or is it just to get you listing and then you’ll be talked down over time when it doesn’t sell for the price quoted.

Do a search on FHOG on this site, there has been quite bit written about it. I think from memory that you have to live in it for 12 months and have to move in within 6 months or it coudl be the other way around, but have read of what has been written on this topic previously.

Regards
PK

You have to have paid the money to get a bank cheque. Not just have the money in your account, but you actually take the money out of your account to pay for the bank cheque up front.

You shouldn’t have a problem, however, if you are feeling really uneasy, you can pay for an overnight clearance instead of waiting 3 to 7 days depending upon…[Read more]

rjk,

How many in one town? – that’s very individual and relates to the person’s risk level and amount of risk associated with the town. To date, I have only bought 1 house in any one suburb or town to spread my risk as different suburbs and towns do have different growth times, different risks etc. But like I said, everyone’s tolerance to risk…[Read more]