Forum Replies Created
Hi
We bought a 4 bedroom house in Brisbane because our son is going to uni there and we live 4 hours away. We rent out three of the bedrooms to other kids who went to the same high school and are either at uni or working – so we can give him reduced rent plus the security of not having to move or be responsible for a lease. It works really well for us – so I would recommend a house that you could rent individual rooms to other students. Good luck
You need the proper proof of id etc including a full birth certificate a passport photo (and they are very strict about how the photo should be). You can pick up a passport application and work your way through it. You need to have EXACTLY what they say including if your a married woman with a different name to your birth certificate a full marriage certificate. This doesn’t mean the one you received when you got married – you actually have to apply for a marriage certificate as well.
When you have all your documentation in place it only takes about three weeks.
Hope this helps
Lee
If you have rental income as well as your first job then income from a second job added to these may put in a higher tax bracket. I have found that when I have earned extra money my expenses tended to go up – a bit more take away – more petrol etc etc.
Good luck with finding a creative way to make more money
Lee
Hi
I’ve just appointed a property manager in Bundaberg. I rang 8 agents and asked them the same questions, what they offer, etc and then I asked them to send me info. I chose the one who was most suitable. One of the main questions I asked was how many properties they manage and how many staff do they have to manage. If they have too many (Margaret Lomas suggests about 50 properties per person) then they can’t do their job properly. I’ve found most agents have about 100 properties each to manage.
Good luck
Hi
I can sympathise with those who are trying to do the investing in partnership that is one sided in that area. I don’t know how you get the other person as interested as you – but for me I come back to why are you investing in the first place. People talk about financial freedom and not having to work but then what are you going to do – honestly all day at home with your partner that isn’t into investing doesn’t seem like much fun to me. I think you need to concentrate on the other goals in your life that investing can help you achieve – in other words to quote Dr Phil you need a plan that you can both be excited about. Good luck
Hi
I had friends renting in Moree – there are definite areas of town to live in. I myself drove through Moree approx three weeks ago and felt quite unsafe just driving through some areas – even stopped at Maccas and was a tad nervous. I don’t think I would invest my money there, having said that the people able to afford high rent wouldn’t live in the “bad” areas of town. I think you will find the percentage of indiginous aussies is very high in Moree.
Thanks – I’ll check out Bunnings.
The house is in Bundaberg Queensland – so I might have to find a cabinet maker there
Lee
Hi Resiwealth
Actually I was asking why dmichie hadn’t answered Robert’s questions about being involved in property investing forums.
Sorry for the confusion
Hi Robert
My point was to show that with all the facts and figures being spruiked by dmichie, your questions didn’t get answered and I was wondering the same thing – why would you “hang around” a property investing forum if your so negative about property investment?
Originally posted by The Mortgage Adviser:dmichie,
A few questions…
Why are you in a property investng forum if you are so against property investors?
Are you jealous because you cannot afford to buy any property or do not have the knowledge to find a way?
I’m interested to hear your long-winded, statistically-enhanced answers to these questions
Robert Bou-Hamdan
Mortgage AdviserWE have just had a quantity surveyor report done on a house in Brisbane. The cost was $440 and done by Deppro Pty Ltd http://www.deppro.com
Regards
LeeYes I do need finance. I have spoken to my bank and they said I would need a 40% deposit. I’m going to have to come up with a creative way of getting that as I only have enough for 20%. There is also a house included in the sale on a separate title so hoping to be able to on sell it maybe and have a longer settlement time to enable me to do this or pay 80% of sale price on settlment and the other 20% in 6 months.
Lee
Thanks Jeff
that is good advice. I will make sure I find out the value of all the included items.
Lee
Thanks for your replies.
The rent is increased by CPI each year with review after 5 years. Still not sure about outgoings but am in the process of finding out. As I would technically own all the fittings furniture etc I should be responsible for the maintenance, but would prefer this to be the tenants responsibility.
I’m also not sure who is responsible for the insurance – will need to find this out as I guess this would be quite pricey.
I’m quite excited by the prospect of the deal but am determined to take my time to do due dilegence and set the lease etc up properly.
I’m going to try and negotiate on terms not price.
Regards
LeeI also have quite a few queries about wraps. I have been through the wrap kit a couple of times and I think I’m looking for problems in the solutions instead of solutions for the problems. Does it really matter why people use wraps? Just knowing that there is a demand out there (according to Steve McKnight – who should know) and have the information to do it then you should take a plunge and go ahead. I should take my own advice, but what I’m trying to figure out is if your not going to own the home in the long term then all your getting is cash flow for a while is it worth the effort and what happens if your marriage breaks up (50% do) and you are in a wrap contract??
