We’re with Colonial and are on the MAV pack (very similar to Commonwealth package as they are part of the CBA).

Their interest rate discount increases as you borrow more. I have discount of P&I’s, IO’s and Credit Lines. Different discount rates for different loans but based on total borrowings, starts at .4% discount on total borrowing of…[Read more]

What state is all this happening in, a Pet Bond in WA of $100 is fairly standard if a dog or even a cat is agreed upon. (I wouldn’t bother about it for a Cat), but I’m just wondering what the go is in other states as everyone seems surprised to hear of Bond for animals.

I know here this is a maximum to what can be charged, so do check that out…[Read more]

The more you put in the more likely it would be +ve cashflow, but then the less likely you can get many if your cash is all tied up like that.

After reading the book your reading, then read Steve’s second book “1 million in 1 year” as it’s more up to date with the changing prices and changing times. Finish the first though as it helps to have…[Read more]

INtersting, we’ve only ever had one fully furnished IP and we found it attracted a lot of short term tenants as it was so easy for them to just get up and move whenever they felt like it. A lot harder if they have to move furniture too.

I did note you stated you had a long term tenant set up so hope all goes well.

Regards
PK

With reno on last place we turfed the big tub that had the shower in it and built a smaller “Roman Bath”, not sure that’s the right terminology, but build the brick wall and tiled it. It was low so appeared to just be a big shower, but for families with little kids they could still put a plug in and run a small bath.

Seemed to keep everyone…[Read more]

There’s a MacDonalds in Mandurah, leave hubby and kids there while you look at houses then just the family through your shortlist. A lot less headaches.

Also, do a search on where the new rail will go, although ou may like to be close so tenants have access to Perth, I wouldn’t personally buy the house opposite the station (too noisy), so check…[Read more]

Perhpas it depends on the bank, but when we’ve banked extra in for overseas travel we have still attracted bank fees when withdrawaling the money ie: it’s a cash withdrawal regardless of whether the money is mine or there’s, however, we didn’t pay any interest on it as the money was mine. They definitely didn’t pay us any interest on the funds we…[Read more]

We also have solar and have the electric booster on a timer ie: it comes on a 4pm (when most of the sund for the day has gone), if it’s warm enough then it turns back off, if the water isn’t warm enough then it heats up for the next couple of hours. This allows us to all have our showers of the evening. We find that for 9 months of the year we…[Read more]

Have you spoken to the council to see when or if this revitalisation is supposed to happen, usually they have some sort of timeframe. this may help you assess whether to hold or sell.

PK

We have a colourbond roof and it’s great, but yes, you do hear the rain more if it’s a heavy shower. Personally i like the sound but you may have to turn the TV up if you get an exceptionally heavy shower. It’s not that often that you need to though.

We weren’t charged more for installing the air con on the roof. But the TV antenna guy was…[Read more]

Yes you definitley need a judgement from the courts, once you have this you can send a copy to the relevant agencies and most will record it.

PK

Well, I usually dress smart casual, don’t look too affluent, but do look like I know what I’m doing and that it’s business.

I don’t show the place until it’s fully finished.

PK

Hi Redwing,

Interesting concept. In fact I like it. Perhaps normally I would follow your suggestion as it’s quite brilliant actually, but as I have to remind them for the rent every month I have no intention of chasing mortgage repayments for the next 25 years. This is a case of the tenant wanting to purchase the house. (Or I think they want…[Read more]

I’d agree witha Marisa, if you can buy now then do so as the prices keep moving upwards down there.

mmm, I did hear something about canals and Viveash in the future, but it could have all been rumour as I’ve heard nothing since. I guess you could ring City of Swan and see if there was anything to the rumour or whether it was “just a rumour”.

PK

In WA I believe you can claim for half the fence form the new owner as long as they purchase the block within 12 months of you erecting the fence and as long as the fence is considered the norm for the area and the price was realistic.

PK

Well, I’m not an accountant but i think anything done relatively soon after purchase would be considered a capital improvement rather than repairs.

Renting first may help if it can be consdiered normal wear and tear and therefore needs maintenance but, your guess is as good as mine as to the sort of timefram you may get any with. I think if you…[Read more]

lol Ausprop, I can relate. We had a property we sold in Balga for $74,000 8 years ago, it now has the origanal house and 2 units on it and each valued at aroudn the $200,000.

Ah well, just get the next one I guess!

PK

Too bad if they sign up in winter when it’s full and leave in summer when there’s no way it can naturally be full. Depending on the size of the tank it ocld cost a fortune to fill.

Was it written into their lease? With gas bottles we specify in the lease that they are starting with two full ones and must leave two full ones.

i still think…[Read more]

Shwing, we don’t have cooling off periods over here so if the building inspection hasn’t been written into the offer and acceptance document and it’s been accepted then it’s too late to do anything about it.

I quite like our process as you know exactly where you are at all the time. You can put anything you want on the offer and acceptance…[Read more]

OK, so why not take teh profit and buy two in teh area and build on both (if it’s financailly possible and then have teh captial gains Marissa is talkinga bout on two properties instead of one?)

On the other hand, not having bought blocks myself I had consider the CGT, but I hadn’t considered GST implications.

Do a forecast over say 5 years on…[Read more]