Just provide a copy of a payslip or bank statement showing pay going in. My bank hasn’t asked for a long time, only when I refinance & then they get tax returns.

my 2 cents: the place was initially fenced so there could be an expectation that there would always be a fence – what if their/visitor’s kid (or dog) ran out onto the road & got bowled over?

Do most of the other houses around have fences or is it the norm?

Just because you had a brick fence doesn’t mean you need to replace like for like.

A…[Read more]

1 inexperienced property managers, learning on the job with little or no backup
2 over-extended PM’s, too many properties, not enough time
3 little or no communication, not the glossy newsletters but real comms – a phone call or email to ‘get to know the client’
4 regular meet & greet with each owner ie relationship building.
5 attention to…[Read more]

Remember that there are two parts to the equation – offer and acceptance. Make sure that you are adequately compensated for the sale but not at the expense of losing the deal and locking your site out of any future development. Which area are you located? There are plenty of threads on selling development sites.Greed can turn to fear very quickly….

One thing i’d add, why not approach the buyers agents in bulk initially? You can provide them with the low down on the units separately or as a package. Include details such as expiry profile, current rent Etc…….

OK, firstly I've gotta ask why would you do this rather than taking on a partner earlier?Selling a portion is always looked at as a distressed sale, your selling price will be reduced and it will be more difficult to sell the remainder. How do you intend to structure it – tenant in common or joint tenants? Which bit are you selling? Who to?If you…[Read more]

True value does not relate to true rent. Sustainable rent gives rise to true value. If you leased the house as a normal house, what would be the rent that could be achieved? Ie lowest risk for the lenders?

How much less is the net rent & how does that compare to leasing the house normally ie less management & letting fees, power, water use,…[Read more]

There is a requirement to disclose violence/death etc where it has occurred in the last 5 years (might check with fair trading or read the Property Stock & Business Agents Act NSW).

Brisbane is a reasonably diverse place. I could recommend Hawthorne, Paddington or Bullimba but your budget is Inala. A few bones to go on?

Send me a pm with a few more details so I can have a look at it for you.

one other thing: high return = high risk

What is the quality of the tenant? Is the property out in the sticks? Are there any good comparable sales/lease deals to work from?

You will need the lease to know all the ins & outs including incentives.

I see your point Luke but ‘ them’s the roolz of da game’.

The alternative would have been demolition of the fibro & 60’s houses & have two new builds, the budget wouldn’t allow it, quality of the end product wouldn’t be there either. In a falling market, would these options have protected the ‘renovators’ any better?

of course it will – marketing, preparation of contract etc

In order to collect gst (and pass it on) you must have an abn & be registered for gst – see your accountant for details.If the lease is $60k + gst , you will invoice $5k pcm + $500 gst – $5,500 pcm, provided you are registered for gst. If you aren't registered you can only charge $60k but have to wear the gst which you have paid on the inputs (eg…[Read more]

LegalsZoning CertificateMarketingAgent CommissionDischarge of mortgageLegal out of pockets

Would you pay more for a good property manager than for a bad one? How would you know until you have an issue?

Lessons to be learned:

1. Not all renos create a profit
2. Don’t disclose your costs on a nationwide tv marketing campaign
3. Don’t buy in a falling market & sell in the same market
4. Don’t believe the hype
5. The tv show won at the end of the day – sponsorship & advert revenue far outweighed the production costs, purchase/sales & holding…[Read more]

Speak to a local agent, we don’t all have crystal balls.

a bit of tongue-in-cheek Jamie. Property is too big an investment to go into lightly. gens x & y will need to acknowledge that they can’t simply run off to Jools & Swanie to change the investment framework just because long term, commitment & informed consent don’t meet their requirements.

not in the least. Everyone assesses their own risk & exposures. The ones who bear the risk are the investors & the bank. Neither control the market.