A couple of years in the property industry wouldn't go astray Danni. This is a very difficult market at present and unless you have a reputation in the area, have very deep pockets to cover expenses for 2-3 years and are prepared to purchase a rent roll  and staff you will find it hard going.

There are several things you will need to consider:
Fire separation – dividing wall will need to go from footings to roof (you may be able to put fire rated plasterboard on existing walls, vermiculite below floor level (watch out for joists/bearers/ceiling joists which are continuous through the dividing wall), fire rated wall up to…[Read more]

All solicitors are grounded in property law, it is one of the first things that you study. They cover contract law, conveyancing, real property act, secret commissions act & several others before getting out of bed in first year.

What are your options? Buy off your brother (can you get it for a fairer price? Can anyone else you know buy 1/3 or his full 2/3? Can you do a strata subdvision and sell off the units that he owns ie 2/3? Does he want out totally or can you look at less than a full exit from the property?

Is the bank chasing your brother for the outstanding loan?…[Read more]

From memory it isn’t hard but you will need to use 1:50 yr rainfall tables & calculate pipe sizes and flow rates. Much easier to get a stormwater engineer to do it.

go to the REI website. You can subscribe or pay a one off fee for a document. It is risky if you prepare the sales contract yourself so I’d suggest changing solicitor

Does anyone else in the complex have issues with accessing the parking? What id being done about it? How soon?

No offence meant. Just pointing out that all too many investors want their cake & eat it when there are plenty of precedents.

Probably be adding between 15-20% on those figures as Rawlinsons rates are for the trade work only.

Are you talking margin only or preliminaries & margin? Prelims includes supervision, non-trade labour, rubbish removal, setout, progressive cleaning, insurances, safety equipment, temporary services, site fencing, access, council inspections and plenty of other costs.

Profit is a % charged over all the costs of construction.

What would you be…[Read more]

The life of a hws is only 10 years. You write off any undepreciated value of the old unit & depreciate the new one. If you are so delicately balanced is property really for you?

My 2 cents worth: the valuation is based on the instructions ie if the bank is providing the instruction to the valuer it is usually for mortgage valuation purposes ie how much will the house realise in a distressed sale (when you default on the loan) – the banks need to know how much can they get without risk (your mortgage insurer will bear the…[Read more]

You will need to engage a conveyancer or solicitor to prepare the contract & manage the settlement. Generally a water service diagram, zoning certificate and anything else required by your state.

Thanks Terry – not a biggy when you consider a land tax clause in commercial leases with calculations based on a single holding basis.

Terry, what do you mean by ‘extra land tax’? Is it not just the loss of the threshold or are there additional taxes on top of the standard rates which would apply?

An advisor ‘should’ be impartial & paid on ‘fee for se
rvice’ not be recommending investment strategies based on them ‘flipping’ their own properties, in which case they should be declaring an agent’s interest in the properties being sold.

Good to hear it worked out, esp in WA

What is your issue with CT? At least all owners are liable for the upkeep of the common areas.

Unless you are able to put the access handle onto each property with no sharing of access or requirement on another owner to maintain the access.

Rentmaster.co.nz

good package and built to a budget. Has a longer free trial period than most.

Smoke and mirrors. Company pays less tax and distributes more dividends.

Shareholders receive greater dividend but less franking credit & pay more tax at your marginal rate.

Hmmm who’s the bunny?