I found in W.A. the commerce website provides a great deal of information. I'm sure things are different in Victoria but they might have a similar websitehttp://www.commerce.wa.gov.au/consumerprotection/Content/Property_renting/Renting_and_tenancy/Landlords/index.htm

The agent said after the house was passed that the bank would accept any offer over $250,000.Only one person put an offer in while at the house. I don't understand why that person would add another $10,000 to what would be accepted when they saw no one else put an offer in.I actually thought about putting my first offer at $260,000 then I t…[Read more]

1998 Supercharged Holden Calais – Paid $47501988 Turbocharged Toyota Supra – Paid $4000Not a fan of paying for things that depreciate in asset.

Tenants have paid all the money owed few days after I posted this. They also said my neighbours have given them the money for the fence repair, don't know whether to believe that or not. Tenants are requesting to stay another three months on a fixed lease as they are building their house.Hearing is tomorrow we'll see what happens. I do find it st…[Read more]

I've noticed banks don't allow any clauses unless it gets passed in.Few I've been to a few who want 10% deposit, will not allow early access, 30 days settlement and no pending finance.

Hi Derek thanks, I've actually read that website over a dozen times, every form, document and it points out I'm doing anything correctly. The only thing the website doesn't say is how much time you have to give them on the termination form to move out of the house.DWolfe, I didn't say I would pay for further repairs, only said I would pay them…[Read more]

I always look at older houses only if it has a potential to either subdivide or renovate and add more value. Make sure you check how much it will cost for repairs/maintenance as well.  As your a FHO you'll have to live in the house for the specified time until you can rent it out. In this time if you get the older house you can do reno's and…[Read more]

Why not buy a cheap/reliable car for 2-3K and once you purchased your investment property sort out what you have and what you can spend. Car loan interest rates are much higher then home loan interest.You can always resell the car and purchase a more expensive car afterwards

The way I do it is pay everything on my credit card (food, fuel, parking, bills etc) and then pay off the credit card with the money in my offset account before the "55 days".Its not really 55 days its something like 30 days interest free then you have 25 days to pay off that interest. So if you pay if off at the start of the 55 days and pay it…[Read more]

Thanks for that, tried using to ato website yesterday to get the information but it was down.Anyways info herehttp://law.ato.gov.au/atolaw/view.htm?docid=ITR/IT2167/NAT/ATO/00001

Why do you want your own home (PPOR), guessing at age 24 you want independance?3. Stay at home & purchase IP with IO loan with 100% offset (save on rent if you don't pay it, also interest on IP is tax deductable, once you get inheritance put into offset and then your IP should be positive cashflow. Could purchase another IP?)4. Rent a house & p…[Read more]

Hi Damien,I would recommend starting all your research about property investment in forums and other websites before you start anywhere else. They are free, have no strings attached and you can learn at your own pace!These forums have pretty much everything you need to know and if not ask a question, lots of people here can provide great advi…[Read more]

Would you ever recommend someone to manage their own property and if so what advice would you give them?What are the most common mistakes when starting in property investment?What are the positives and negatives of a single investor vs a couple investing?Should you always go to a mortgage broker or can you find a better deal yourself?How do you…[Read more]

If anyone is interested, house was passed in with no bids, had a feeling they would. Only about 5 interested 'couples' showed up.On a greater note they are taking offers with only subject to finance approval and the reserve is 50K below what i expected!Hopefully my offer wins!

See Table 1 about zoning size. R30 is much betterhttp://www.stirling.wa.gov.au/NR/rdonlyres/2F465AE2-8C26-4DD6-B7A8-CEAABE833325/0/InfoSheetResidentialSubdivision.pdf

Thanks for the reply Richard,I know how much the property will be valued for as it is an identical layout to my current house on the next street.The land is 30sqm smaller and the condition of the property is a bit worse when i purchased mine but mines since been renovated.I lived in the suburb for 25 years, problem is other people who bid at a…[Read more]

Contact the council first to make sure you have enough space and are allowed to subdivide in the suburb before spending any money preparing it.

I'm renting with mates so only one loan which is for the investment property.I refinanced to IO when i started renting it

Thanks everyone,Terry I've got a IO loan home with the money in a 100% offset.I've been told by my bank i can reduce my current home loan now to 6.95% from 7.10% but if i reduce the loan from 288K to 262K i can have the loan for 6.85% because the LVR will be 75%. Is this a good deal?I've noticed other banks have pretty crap deals on there…[Read more]

Good idea, would of saved me a lot of time but i did enjoy reading the other things i found. Should call it "First IP – Where to Start"