Hi Rastuss,

go to tradingpost.com.au and enter your state and the search words “house for removal”. I can almost guarantee there will be something there for you.

Mal

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

You say you are thinking about renting it out !! Was this intended to be your PPOR or an investment? As an investment you will be able to offset the Capital loss on sale (if you sell) against other capital gains. As a PPOR you have no way of recovering a loss on sale.

Maybe buy one of the cheaper ones also.

Mal

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

I’d say, listen to specific.
I’m also from Sydney and own a few units in Cairns area. When looking at units in the area you may see a 2 b’room unit for 120-140k returning 150-170pw, on the surface it looks good, but factor in body corporate, rates and PM fees and these 3 costs along will ad up to 3.5-4k pa or approx $75 pw. That is a big chunk,…[Read more]

I’d suggest that you go to or call a few Property Managers (not just 1) and ask for a copy of their Property Management Fees & Charges and conditions.

Sit down and compare what they do for the money.
You want to know are :
Management Fee and Conditions
Lease Fees & conditions ( eg. Advertising costs, who pays ?)
Petties (usually a monthly…[Read more]

Given that the past 2 years Cairns has been Booming, I’d be interested to know what type of capital gain Sam has make on the property and what the CG would have been had full price been paid.

I’ve made 20% 1 year and 50+% 2 years, on older units.

HG, I also think that Cairns is at the top of this cycle.

Mal

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

Just look up “Structural Engineer” on http://www.Yellowpages.com.au . There are plenty there that can help you.

Mal

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

patbc,

I think you are in the enviable position of being able to take on a development and not be risking a great deal.

If KP is correct and there is a potential to make 80k it would be worth it. If say you can afford to cover costs during construction and made only 10-20k would it still be worth it? Have you done a development before ?and, how…[Read more]

Hi Barni,

Check your Property Management Agreement first, you will be required to give the agent notice, this can often be up to 90 days. The current lease term has nothing to do with the agency agreement.

Mal

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

Nothing Exotic about me,
Parents are both Aussies, mum was even born and raised in Kurnell, you don’t get more Aussie than that. Ancestory is English & Scottish.

Mal

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

Yes.
If say you have an investment account, you can draw on expenses such as Rates, Body corporate, Insurances etc.
If you have non deductable debt, why pay these expenses out of your own pocket. The worst thing you can do in this case is allow a Property Manager to deduct these expenses from rental income.

Mal

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

1) Advertise for longer ther tenants.
2) Check the prospective tenants previous tenant history. Do they more around a lot?
3) Divorcees with teenage kids, tend not to move as often (unless kicked out).

Really though do you want to sign a tenant on a long term lease only to have them be a dodgy tenant. A short term lease to start does not mean a…[Read more]

My brother in law removed the rusted out guttering from the roof prior to selling, the outside of the house was transformed by that simple act. Added about 10k to sale price, not one person inspecting the house even noticed that there was no guttering.

For about $25 you can get about 100kg of red wood chipping for the gardens, throw it straight…[Read more]

PPOR in Shire, Sydney.
All IP’s are in either Far North QLD or the Northern beaches Perth.

Mal

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

Don and Liz,

You both don’t have to post.
I can’t believe you were both thinking the same thing at almost the same time.
Or is there an echo on this post

Mal

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

If your property is believed to have been used for criminal activity, your property can have a restraining order put on it by the state, and the rental income can also be restrained, as it too may have been derived from the criminal activity.

If you every find yourself in this position, seek legal advice at once on applying for the restraining…[Read more]

Check your landlord insurance policy, I bet there is a very specific clause that excludes claims against lawful seizure of your property.

It is a common occurance, but more so related to drug offences. It’s possible that your property be seized for 12 months and you will not see a cent for loss of rent. And worse, good luck getting a tenant in a…[Read more]

Hi Tan,
It really does depend on your investment strategy. If you but an IP that is negatively geared then it’s better to be in Hubby’s name if it’s long term investment, better tax adv. If it’s a purchase for short term capital gains then it may be better in your name, as you would be the one to pay the CGT which may turn out to be none. If it…[Read more]

8.5% + gst is pretty standard up there for PM fee.
5-10 for petties per month.
1 week rent + gst for each new tenanted lease.

Mal

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

It will probably be cheeper constructions costs to have both built at the same time, however I think that you will incur CGT on the one at the front that you never call your PPOR.

You original scenario is possibly the only way to avaiod CGT all together. But may posssibly cost you more by not constructing at the same time.

I’m sure there are…[Read more]

Avg 92-95% on IP’s
60% on PPOR

Guess I’m not as conservative as most.

Mal

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