If you are talking residential I would agree with PK’s comments

Derek, good point, I automatically assumed “Residential”. Never good to assume anything!

PK

Prices have increased over the last couple of years, so that’s a positive. Also, the selling of blocks below tide level was a problme several years ago but has been jumped on and shouldn’t be occurring now. But you can get a map of the island form the council that shows the areas affected by tide.

I’m curious though as to how you will move a…[Read more]

Hi there Dazzling,

In “The Landlord’s Handbook” which is published by Dept of Consumer and Employment Protection in WA it states:

“You many only increase the rent under certain circumstances. These are as follows:

– a minimum of 60 days’ notice in writing is to be given to your tenants; and
– not less than six months must have passed since the…[Read more]

How long as you leasing back for? If not long then I’d just accept the lease witht he clause knowing that if it breaks down they will still have to pay for it to be fixed, it’s just that it’ll be after you’ve left. Can you handle it with no air con if it does break down, especially as it is coming up to winter anyway?

If both parties agree to…[Read more]

mmm, well, I’m still waiting for the API magazine to land in me post box!

Congratulations.

We have used a combination of saving for deposits and using equity in out PPOR and IP’s as it came up. If your IP’s are in areas that get captial growth then then the more IP’s you have the quicker you get equity to go again.

Our problem now, is more to do with having income to service loans which is why we look more for +ve…[Read more]

I only give my mobile number to tenants so that is things so bad and thye ring constantly at silly times of the night to annoy me, I can a least turn it off.

Also they only ring when something really is a problme that way due to the extra cost.

I’ve not had a problme managing things form a distance that way. Mind you, I had occassion to meet a…[Read more]

I don’t think there’s a time limit to how long you can sleep on it for, but until it’s signed then either party can pull out.

Not sure you can Gazunder in WA as our offer and acceptance that we sign and countersign when negotiateing in WA is a legal document.

Good luck and do let us know how you go.

Regards
PK

No one has mentioned tiles. Jsut wondering if there’s any reason for this as they are hard wearing. Are they outdated?

I agree with debtdogg’s explanation.

i would like to know “how you will go broke while making a profit”. True, you will pay tax on your profits but this is rarely more than 100% of your profit. If your tax rate is 42% then that’s what you’ll pay on your profit, so how will you go broke while making a profit when you still ahve 58% of your…[Read more]

It should be in your fees, otherwise you’ll need to ask. My PM charged $45 an hour to go to a meeting for me.

Regards
PK

Yeollow pages would have some, but otherwise Hegney’s are a well known mob.

Also wondering why you need a valuation if you are seling, are you looking to sell it yourself? Otherwise just get a few agents out and see what prices they give, plus get a sales report form the Valuer General office (between $22 and $48 depending which one you ask…[Read more]

Good Point there DD. We’ve just had a $5 a week increase on our Mandurah property, but that’s been the first increase after 2 years. So agree, rents are very slow to increase here at present.

Good lcuk with Qld.

PK

Thanks Sharon,

Shall have a look.

PK

I had fixed term interest only loans all tangled too, found it easier to untangle them as the fixed term came up as they had grown by then and therefore we could threaten to go elsewher if they didn’t allow them to stand alone. Valuations proved we owned more than 20% on the home by that stage so was then relativley easy to change. We had tried…[Read more]

Sandyman,

Many of the banks use commerical loans for properties that have more than 3 or 4 units on it. That’s why I mentined the commercial loan bit.

Unless you have enough equity in other residential property that you could take out a credit line to purchase it that way. Good luck and let us know how it all goes.

Regards
PK

I have no idea but would keep the words “Backpackers” out of it. I feel that this creates teh imagine of just youngun’s, whereas with the set up you have or 2 to 4 beds a room with private facilities, you could attract, backpackers, couples, families, coach tours (and many of these are oldies) etc.

So my only suggestion is not to have the word…[Read more]

Well, it’s just my opinion, but…. I’d buy my own place and an investment property.

Talk to a bank or broker about what deposit you need on the investment property (probably 20% – or you may be able to put the whole lot off your home and then use that as security for the investment porpoerty) and then put the rest into your own home as there…[Read more]

Karl and Rita,

To buy -ve geared isn’t necessarily a mistake, buying out of emotion can create mistakes.

However, here’s a few thoughts:

a) Is there any way of adding value to the properties which will increase the rent so they are getting closer to covering themselves?
b) To sell now would incurr selling costs etc, will this benefit your long…[Read more]

Ah Calvin, I think it supports why we can’t rely on capital gains and therefore should be looking at +ve cashflow!

Either that, or I’m lost with you. It’s been very interesting reading though, well done on strting on this thread.