HI therenot sure if you are hinting that you should take over an existing structure for the business – if you are – the answer is you should set up your own structure for your business which protects your assets, which can be via a discretionary trust with a corporate trustee.The main thing is to get informed advice as the trust should hold assets…[Read more]

Hi thereour first IP was also a unit – for similar reasons as mentioned above – it was what we could afford in the area we wanted to invest in (Maroochydore, Sunshine Coat) – our most recent purchases have also been units – though there have been some houses in betweenthanks

Yes a solicitor can do this for you – and it is a good idea to document what is happening so there is no problems further down the track with other family members.I note both my parents and my husband's parents helped us with lower interest rate loans when we were first getting into property.  But we did document the loan agreements and there…[Read more]

HI there ColFirstly there is no right and wrong answer to this question – it is a personal preference.In our situation – we tended to invest in our own backyard.  But as my husband was in the Airforce, our backyard changed every couple of years.  We would initially rent or live in a married quarter, become familiar with the town and then invest i…[Read more]

HI thereits called arson and its against the law – and the insurance company would be entitled to deny liability in the circumstances.thanks

Hi thereI happen to know another property investor who used to rent his property – to what turned out to be a brothel – they actually were the best tenants he ever had – always paid the rent on time and kept the property immaculatethanks

Hi Marcyou are quite right – any contract is between the builder and subcontractor – and the builder has acknowledged he is obliged to make the payment.The only reason we are involved at all is because we obtained the initial quotes and submitted the one we wanted to the builder – who then contacted the subcontractor.Its just it absolutely floored…[Read more]

HI thereas we live in Toowoomba we can give you a heads up on particular areas if you would like to contact me.Just be aware though – just at the moment Toowoomba has a vacancy rate of about 4% – and there isn't the same rental pressures for tenants. thanks

Hi thereThere is an exemption from stamp duty where a transfer of real estate is between de facto partners or former de facto partners where the breakdown of the relationship is the reason for the transfer. De facto partners are also eligible as "first home buyers" for a refund or exemption of stamp duty on the transfer of real estate (Duties…[Read more]

Hi there HeylyebI think Marc is right – you will note from the above websites that a road becomes the property of the Crown once payment to the owner is made – my understanding is the developer is trying to recover compensation from your parents with respect to property that will belong to the Crown.  Bit of a scam don't you think!thanks

Hi thereI think you will have problems if there is nothing in writing – as your contract will normally say something like – any representations which form part of this contract have to be reduced to writing and agreed between the parties…You can still complain though – cause sometimes people will still negotiate with you to keep you happy.thanks

Hi thereI think you are going to have to have someone (your solicitor) review your contract – it sounds like you went ahead based upon a 'representation' as to timing that perhaps became part of your contract? – you need to review what representations have been referred to and agreed in writing – as representations can amount to damages further…[Read more]

http://www.dpi.wa.gov.au/crownland/1784.aspHi there a further link for review – please note the point …The Department’s brochure “Land Acquisitions” outlines procedures for acquisition of privately owned land for road purposes, with the local government paying compensation and indemnifying the Department against these costs.thanks

http://www.dpi.wa.gov.au/crownland/1793.aspHi thereI found the above link which might be of use to review – you will need to speak to the solicitor who is familiar with planning requirements.I would have thought that if a development of a subdivision has been permitted by council – your parents would have had previous notice of the proposed…[Read more]

Hi there Mistya solicitor's trust account doesn't normally accrue interest – and any interest is usually directed to an account held by the Law Society or Institute and used to pay members of the general public who have been wronged in some way by a solicitor.It is one of the reasons people will often have a deposit in a separate interest bearing…[Read more]

Hi again BrookeleaCan I suggest you speak with your new solicitor urgentlyA Solicitor has to act on instructions – he can't tell you what to do – if he is not following instructions – his conduct may be considered unprofessional conduct which can give rise to a claim for damages.If you want any help with respect to legal costs – perhaps you may…[Read more]

Hi thereyou need to comply with the requirements for your state – there are usually appropriate forms to issue which give a reasonable amount of notice to the tenant of an inspectionthanks

Hi there DarylIt looks as if where you have your property may affect your choice.We don't have the same problems as crashy with a property cracking due to drought as our property is at Maroochydore on the Sunshine Coast and there are no water difficulties there.I would think though if your property is already subject to movement and cracking -…[Read more]

HI therein relation to the termites – it is quite usual to have some form of termite activity on a property in QLD – treatment does vary in price but you can expect to pay a couple of hundred dollars – your report should have given you an estimate for a treatmentas for the unapproved items – depending upon what has been disclosed in the contract…[Read more]

https://www.propertyinvesting.com/forums/getting-technical/finance/23649?highlight=release%2Cof%2Cthe%2CdepositHI there Brookeleayou may wish to review the above thread which recently discussed this issue concerning the release of a depositBy the way did you enter into a cost agreement with your previous solicitor? – it may be possible to dispute…[Read more]