You don’t say where in QLD. In Nth QLD this is pretty much the standard, and they don’t have much give unless you hold multiple properties with them.

The thieves in WA charge you a similar fee + will make you pay for inspections, annual report and what not.

Remember cheap can also be nasty.

Mal

Getting out of your comfort zone, can help you…[Read more]

Hi Maruco,

I have used Morrow Peterson solicitors a number of time and was extremely happy with the service, they were able to get me out of a very sticky situation once that was due to my lack of experience and knowledge at the time. Very reasonably priced professional fees also.

Tel: 07 4052 1199.

You can’t go past NQBR for your pest and…[Read more]

redwing,
Didn’t your mother ever tell you “if you have nothing to say, then don’t say anything at all!!” ?

I’ll have to try CS or VIP next time. I wasn’t happy with Foc…. “Sorry Mum”

Mal

Getting out of your comfort zone, can help you become comfortable

Hi,
Check out this link.
http://www.ato.gov.au/businesses/content.asp?doc=/content/43486.htm&page=20
It basically says yes, normal CGT rules apply, with the acquisition date deemed to be the date shares were originally purchased, not the date of inheritance.

Mal

Getting out of your comfort zone, can help you become comfortable

Hi Bullion,

This suggestion really depends on the area and surrounding housing. Is it possible to put a pre-existing house on your block of land ?? It can be a heaps cheaper option and possibly very profitable. People/small developer are always looking to offload housed as removals. There is currently 4 houses in Notting Hill that are available…[Read more]

If it was too easy everybody would be doing it !!
But like markpartick said they are not always visible to the inexperienced or those that do not already have some financial backing to make it happen at the drop of a hat.

In the past month or so I have found a couple of properties that were cash flow positive. The first like you say is in a…[Read more]

I’m with you girls Jenny and Misty, I’m not a car person at all, A-B for me, unfortunantly the wife is.
Dr X, we’ve not had much luck with the kids thing. Maybe it because i’m not into cars. You give me $100 week for each kid and I’ll take them off your hands. That’s got to be cashflow positive for you !! Everyones got a price.

Sorry Doc, just…[Read more]

Q: Do you sacrifice capital growth for positive cashflow??
A Hell No!! Not in the long run. But they both have a place in a portfolio. If anyone that owned property over the last couple of years did not make more in Capital Gains than the Positive cash flow, then something is wrong, even if you were in the particular investment for cashflow.…[Read more]

Tip

Assume that tomorrow your computer is not going to start up, and all will be lost. Including those spreadsheets, emails, contact lists, all the treasured family photos that are now digital .. everything.

Back up your data !!

Tip

When rushing around doing property inspections interstate or any other area that you don’t know, take a…[Read more]

Milly , I’m assuming that you are in QLD.
You don’t mention if the buyer terminated the contract.
Firstly, if the contract is subject to P&B and an Inspection date is specified on the contract, then if the buyer did not terminate the contract before 5 pm on that date, then it goes unconditional, regardless of further negotiations. It’s up to the…[Read more]

This may help also.
http://www.eaussie.com.au/aussie_valuer.htm

Mal

Getting out of your comfort zone, can help you become comfortable

Too many states, too many differences in contracts. Thanks for the correction on the cooling off period in WA PurpleKiss. Thank for the idea in the dancing girls calvin34, your way ahead of me.
I like the WA contract. I’m not really a fan of the cooling of thing, being able to get out of a contract for no reason at all. If you really think you…[Read more]

Good advice Pen, GTR-PSP you obviously live in the area so spend the weekend(s) going to open houses and units. I’d say go and look at things both above and below your price range as well, this gives you a much better idea of what you can get for your money, whether spending a little bit on a cheaper place will increase it’s value etc. Take note…[Read more]

One thing that I noticed in WA was that the standard contract does not have anything about being subject to building inspection. Only Finance and Termite infestations. If you have already signed a contract, and you are concerned at all about the place structurally, get a building report done within the cooling off period.
If you haven’t signed…[Read more]

Hi Browny,

As far as I’m aware, the costs to travel to inspect and purchase an IP are not tax deductible.
The money was not spent producing an income, only to potentially produce an income.

Once you own the property you can claim the portion of the travel expenses that relate to you doing inspections, maintenance etc. IE. travel interstate for 5…[Read more]

Hi Liz,

I have a couple of IP’s in Cairns area, furnished and unfurnished. camder is right, you do not have to spend heaps (although it does depend on the type of unit, mine are not waterfronts). I’ve been lucky that the tenant in the furnished one in a keeper, he looks after the place, has repainted at his own expense etc.

Where I have found…[Read more]

Hi Oxygen,
Click on the underlined Wrap word to find out more.

Mal

Getting out of your comfort zone, can help you become comfortable

Hi Simon,
I’m from Sydney also, I did a bit of research on this area earlier in the year. I took a trip there in May and ended up buying in Heathridge, 20km north of Perth, where I was going to be pretty much guaranteed rent. Still like the Rockingham, Safety Bay area, only real concern was the amount of development and new estates south of…[Read more]

Can you say why it would be unwise Dazzling.
I know an area that is Housing Commision, which is cosiderably lower in value than some of its surrounding suburbs. A suburb nearby was changed from it’s restrictions on housing commission a couple of years ago, and it has jumped in value. In approx 18 months, the council is planning change it from…[Read more]

dkram,
This months API Magazine has an article on the topic of selling or not when you upgrade and move to a new home. It addresses some of the issues that needed to be taken into account.

Pete r is right (and thankfully very tactful), ask questions, take in other ideas and opinions, but act on your education (which like IT doesn’t stop once your…[Read more]