Forum Replies Created
Well the government is trying to help us now by pushing for requirements for new immigrants to spend at least 2 years in regional areas [
]Regional areas- low growth but good cash flow..
The tenancy issue is a problem, but conduct your research, and i remember people like Minimogul, buy a place, then renovate and increase the chance of having a quality long term tenant..
REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Originally posted by kay henry:sis, if you try to take bond money out of bond money- for the window, for example, when you (the owner) have agreed to pay for it, you will be taken to the Residential Tenancy Tribunal, and the tenants will win. For a guy who owns 13 IP’s, you have an interesting perspective on how you are able to use bond moneys. elves propbably need not have fixed the window at her own expense, but given that she did, you can’t just go around taking people’s bond money willy-nilly- sheesh.
kay henry
Kay Henry
Was my understanding reading this post that elves “hadn’t” paid for the window or claimed on insurance ( – Refused was the word used ) and S.I.S said “when the tenants depart” get the money out of the bond, i see no problems here as if you don’t get the money from the bond you’re going to be out of pocket, to the excess anyway.
You don’t want to start claiming on your insurance “willy-nilly”, if taking care of the lawns is part of the rental agreement ( and usually it is ) why should you, the owner, bear the costs of replacing the window, affecting your future claims also..
Having said that… at least the tenant admitted liability, could’ve said ” some kids must’ve chucked a rock at the window, it was like that when we came home”
Elves.. see what happens at the end of the tenancy, they may suprise you and want to stay, some people are born complainers, but happy in thier misery [
]REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Many Thanks to you both
The sheet gives me some basics to work with and acts as a reminder of cost figures to ask the Agents for, as i said i can then transcribe to CoCR calculator
Recieved an e-mail from the same Agent stating a 2 brm in the same complex is for sale for $115k, rent 160-170 p/wk using same figures for fixed outgoings i work out a $5 276 income and 4.58% nett ( strata may be slightly higher as 2 brm ?)
still not the best, working out whether it’s worth it for growth as the Town is “very” good for the state, or… to pursue more cash positive but lower growth properties.[
]( I know the answer though looking at my IP’s.. i need + Geared property for balance ) [
]REDWING
Hey Recoveryman
Working over period to the 20th [
]feel free to contact me though
barrytspencer”AT”yahoo.com.auHow far up north are you going ??
I’m still ‘searching’ have a nice little sheet printed out that i write prices, fixed outgoings etc into to try and work out viablity of property, e-mailed a few agents and in contact with them regarding said properties, hope to add to portfolio..
REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Markymark
Agree with TerryW,
You should only be looking at around $800- $1’000 to establish a trust, i was quoted $800-900 with a 1/2 hr consultation for free, to see if this was the best structure for me and to assess the ins and out’s..
My Christmas present to myself was going to be “trust magic” or Steve’s ” Wealthy Guardian”, didn’t get around to it as i didn’t have the meeting with the accountant yet ( XMAS etc) looking to do so this month [
]read that Steve just uses a basic ‘Family Trust’ others prefer a Hybrid discretionary trust, either way it bears investigation. If you already own property it ‘costs’ you to sell them to your trust..
See if you can get a consultation with an experienced accountant.
All the best
REDWING“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
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