Try doing a search in this forum. i htnk people have asked similar questions before so you might find the answer that way.

Sorry I can’t help in any other way, don’t live in Sydney,

I think at lot state if it’s vacant more than 30 days. Can you stay overnight every second weekend or something like that. Check if something like that will suffice.

PK

Have confidence in yourself.

Dani,

I’d suggest you have a meeting with your broker and find out the requirements of your bank in relation to LVR adn DSR levels. Until you know what levels they expect you won’t know if “any figures you work out” will fit their requirements.

Secondly, if you go through one bank and you want to revalue then find out which valuers your bank…[Read more]

Good news, i went and checked the lease that one of our PM’s sent and sure enough, no stamp duty stamp on it. Hadn’t even noticed until you mentioned it.

PK

I agree, I only look at the Nett income as being my passive income too as that’s all I’d have available to live off.

PK

Playing Santa [xmas]at Chrsitmas is enough for me, I have no intentions of becoming the Easter bunny as well.

They are your tenants though, so do what you like or what you feel is right.

You could try the ABS site for employement statisitcs, they will be quoted as at the last census.

Council plans may indicate what is planned for the area ie: if a major road is going to put put in alongside the property you wish to buy, you may then change your mind about buying it if you don’t like major roads.

Regards
PK

Good Luck Risky, lets us all know the outcome.

PK

As far as I’m aware it is normally the solicitor/ settlement agent that does this. Well, that’s what happened in my case anyway.

PK

Thanks Milkmanjnr, at least someone else admits to not knowing this!

I’ve just gone back and read our last contract and it’s not in that unless it’s part of “The 2002 General Conditions” as the offer and acceptance states that these general conditions form part of this contract so perhaps that is the case. (This is a standard REIWA offer and…[Read more]

The documents are under “regional services”

If you can’t find it on-line then contact Tim Banfield, his email is tim.banfield@dhw.wa.gov.au

Regards
PK

Melbear,

90 days!!! Wow, I think we better all read our leases closer before signing. 30 days is too long to put up with them if they are no good, but 90! I think it’s easy for us to overlook this section of a lease as we’ve asked our questions and assume we’ve picked the best, but I’ve discovered I’m not good at picking PM’s at all.

PK.

and the great thing is that properties become like a second income, except without the overtime

LOL, I seem to be doing plenty of overtime at present, with the reading, searching, driving etc. But at least this is something I like doing and perhaps as time goes buy less research is need as you know your areas better etc.

I’m interested to know…[Read more]

Shushar,

I get Personal Investor too and had missed the article (I don’t read all of the mag, only the property sections) so I’d overlooked this.

Thanks for mentioning it, and although her plan isn’t one I’d be happy with, it’s good when something makes you think ourside the box and consider what will and won’t work for each of us.

PK

Thanks everyone, appreciate your time and ideas with this.

Yack,

LOL, Not sweating the small stuff, just want to learn the correct way before something “big” occurs. Much cheaper to learn with a small mistake before a big one happens. Will be fixed ourselves.

Holden commodore, thanks for the legal standpoint, it is something I didn’t know.

Regards both,
PK

Yep, I subscribe to, have done for just over a year I think.

First IP was a 4×2, 4 year old B/T home in Mandurah WA, within walking distance to estury and river. Purchased for $160,000 in May 2002. Just been revalued at $210,000. Rents at $170pw. Is -ve geared (purchased prior to learning about positive cashflow), however the equity of this one has given us the means to purchase other IP’s.

Still have…[Read more]

Mini,

Thanks for sharing the article.

PK