Your choice, depends on your end goals.

PErsonally I would consider selling and then using the cash for deposits on two more places in areas that you feel there is some growth, that way you’d have two appreciating in value over time rather than the one.

PK

I’m wiht Rhys on this one, if you get the pool pay the extra for all the added equipment so that it virtually looks after itself! A friend has a pool setup with all the fruit and they actually enjoy the pool because it’s not hard work.

Have Fun
PK

Render paint is marvellous on fibro houses. No where near as expensive as recladding. Dulux and Bristile both have products that look great.

PK

OK, there’s several questions here, I’ll answer the ones i know the answers to and leave the rest for others:

Capital Gains – is only paid on the portion of the time that the home was rented ie: if you owned it for 10 years and rented it for 4, you’d pay gains on 4/10th of the gain made. Now I think (perhpas someone else can clarify this), if…[Read more]

Well, I had a case of termite tracks being found that a report didn’t indicate, however no live termites were found (luckily).

However I complained to the agent that had recommended him and suggested they should seriously reconsdier using him. Well, they spoke to him and he refunded my money with an apology. Further i compained to the…[Read more]

Well I hope you were able to copy and paste all of that in and not type it?!

PK

Perhpas you could encourange your solicitor who “missed the problem” to now “sort out the problem”. (Perhpas it could be suggested to them that this should be done free of charge due to the incorrect advice being given in the first place).

PK

Yep, plenty of us here form Perth.

Properties can be found, not easily and depends what you’re looking for. Have you read McKnights second book abook about turing properties in to +ve cashflow rather than buying them that way?

PK

Two car family here (the 3am starting time for hubby is the deciding factor on that!).

I have an 88 Toyota Corolla that runs just fine, even the mechanic says to keep it. The only catch is it’s not no air con. About 320,000km’s on the clock

Hubby has a 90 Suzuki Seirra. Just clocked 300,000km’s. Also running well but also without air…[Read more]

Hi everyone.

Firstly Thanks.

Rhysadams, property B & C were sold (well, have the potentail to sell so I’m working out whether it’s worthwhile to do so).

I thought the calculation was as Monopoly said, however I recently had someone tell me that this wasn’t the case and that the capital gains would be calculated at whatever the rate was that my…[Read more]

Friend is there at present. Prices vary a lot, along with type and quality of buildings, some are very old. Then some are new and cheap beacuse they are in a village with one bus a day! So I think you’d need to know the place before buying, ie: take the trip!

PK

Well, that’s a hard one as builders chagne contractors etc frequently, so what was good once, may not be next time.

However, we used Ross Griffen when we built 5 years ago and they were on time, high quality and good tradsmanship ie: when we got a painter in later to paint he commented that it was the best plaster job he’d seen on the walls for a…[Read more]

I think “good on them”, they took the risk. The risk they have taken is not quite one I’d like to take as it’s too high for me, but then we all have different levels of risk acceptance. They were willing to take that risk and now have the reward for having done so.

I don’t have a problem with relying on the rent for repaymetns as long as you…[Read more]

Could work, but make sure you’ve included all relevant costs ie: buying costs such as stamp duty, subdivision costs, selling costs ie: the agent etc. What about mortgage repayments while holding to do the subdiviosn and while selling.

If after allowing for all the costs you still come out in front then check out the council criteria for…[Read more]

Yes the place in Mt Lawley on teh train line is Ross’s Auctions.

There was a thread called “Purchasing Power” or something like that that related to WA. See if you can find that through the search.

Good Luck
PK

Do a search on Perth, there was a thread that had a lot of predicitons in it and it had new prediciotns added not that long ago.

It was started by Marisa I think, that might help narrow down the right thread.

Regards
PK

Why not see if the purchser will let you learn along the way, the worst they can sya is NO. If they say yes, then you could learn a lot.

Good luck
PK

And don’t forget to allow for capital gains to come out of any profit you do make as well

PK.

Hi,

We have renovated acouple and looking at figures only, I’m a bit skepical that this would make money.

Here’s how I see it:

Purchase $165000
Reno $ 40000+ (you need to include power etc)
Purchase Cost $ 6000 (S/D + Conveyancing)
Mortgagae while reno $2000 (2 months mortage during reno, more if doing…[Read more]

If IP’s are in both names as joint tenants then be careful as it’s hard to prove arm’s length, at the very least he should keep track of hours spent and then only charge yo for you 50% of the time, still get ABN and put it on tax return as income – I’d seriously talk to an accountant as to whether this shoudl even happen when it’s joint.

If…[Read more]