You are perfectly within your rights to charge your tenant for water usage if it metered seperately, and stipulated in the lease agreement. Commercial tenants pay for the water.

Mal

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

I don’t think there is any CGT in this scenario.
Consider building at the back first though.

Mal

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

I believe that if you carry on Property investment as a business, then these expenses can be claimed. However if you travel around all year and by 1 or 2 properties then it’s not going to work.

Alternatively, say you were acting as buyers agernt for others, then this would effectively be a business expense also, incurred to generate fees.

The…[Read more]

As non of my IP’s are within 2000km of home, I guess that makes me an “Intermediate”. But as far as I’m concerned I’m still a bit wet behind the ears, always learning though.

Mal

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

Zaksta,

You know that cake you were talking about? eat it.
Put it into yourselves not a house. Sorry but I think a happy marriage comes first, even if it involves an expensive holiday.

Phil did you hit the turps a bit early? If not, can you tell us what you know that we don’t.

Mal

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

Hi Parvin,

I can’t really help you out in Vic contracts.
I’d get an Inspection report for your own piece of mind, everything may be fine. If there is anything significant, speak to your solicitor.

Mal

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

Do what you can before you have kids.
It doesn’t have to be a world trip. But go somewhere and enjoy your youth. If you both feel like you need a holiday – take a holiday.

Simon is right, stop paying extra money into the IP. Interest Only.

Mal

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

I’m an Analyst Programmer working on investment/ portfolio management solutions. I’ve been doing my Comp Sci degree part time for the last 6 years, which this time next week it will all be over. Woohoo, now I’ll have even more time to focus on my real passion… real estate.

Prior to IT, I’d done accounting for a big 4 bank, mechandisin…[Read more]

Hi pravin,

For starter let us know the state in which you are purchasing.
2nd is the contract subject to inspection, if so what is the inspection date.

Mal

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

Hi Rabey,

That is how I pay all my IP expenses that are not already deducted by the PM.
I don’t authorise the PM to pay any of my expenses, like BC, insurance, rates etc. Only adhoc maintenance that they organise if required. I draw down from a seperate investment account against my PPOR mortgage. All rental income goes into my mortgage, every…[Read more]

Less than $5.

I’ll pay 20-30 for a print book, but I have the ability to stand there and flick through it and decide not to buy it, if it doesn’t appear to meet my needs. You don’t have the same luxury with an e-book.
If I paid 3.95 for an e-book that didn’t end up meeting my needs I wouldn’t care, If I paid 10, 15 or 20 I definitely would care,…[Read more]

Hi Trish,

I think you already have a pretty good idea of what you need to do, you just feel like you need the reassurance that what you think is right.

You sound like my wife. I never did understand why she saved money, and had it sitting there earning interest, and have personal debt being charged upto 4 times the interest that she was getting…[Read more]

Hi Johnny,

Depending on your servicability, you may be able to keep the current property and borrow against the equity that you already have in it to purchase the new place.

If you borrow up to 80% of the current value, you can get access to and extra $84,000 for investing. The cost to access that money is a lot cheaper than selling. 84k is a…[Read more]

Hi Jason,

I understand what you are saying, but I would tend to agree with Simon with having IO mortgages. If you want to pay in extra, pay it into an offset account, so you have easy access to the money for your 6/7 purchase.

Having said that I have 1 mortgage at the moment that is P&I, due to the fact that I really wanted this place but didn’t…[Read more]

Hi Rob,

There are plenty that have been down this path.
Check out this previous Forum Topic
https://www.propertyinvesting.com/forum/topic/18346.html

Mal

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

Dazz,

You can’t rent a 2 bedroom unit within 20 of Sydney for the price of a 3×1 in Perth. I say we all jack the our Perth rents up an extra 10%, then tenants really don’t have a leg to stand on. Lets just pretend we a dealing in petrol.

Mal

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

The August API had WA stats.

But look at http://www.reiwa.com.au

Mal

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

Gross,

Looks like to some members you are their mentor, their TorMentor. [argue]

Mal

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

Hi Dallasm,

I’ve had my PPOR with Wizard since 01 refinanced/ upstamped through them in 03 go gain access to equity for investment. This is when I should have spoken to a Mortgage Broker, because my current structure does not really suit my needs, and the Wizard man was not an Investor and was in no position to suggest any alternates, he just…[Read more]

That’s a great site Simon.

Pitty the membership is so steep.

Mal

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