Hi all
Thank you for all your replies.
I think I will change my strategy and focus on houses now. Although the unit might be easier to rent in the short term, I think the true value might come with the future capital growth in the property. Besides, I think it will be a nice change to be able to finally buy a house, even if we won’t be living in…[Read more]

Up until yesterday we hadn’t thought of new house, or ANY house for that matter! We thought that because we wanted a rental cashflow that a unit would be better for rental than a house. However, as you always start talking to people when you start these journeys, the general consensus (including this forum) is that for the money, a house seems a…[Read more]

Thanks for your comments.
Looking on realestate.com most of the houses don’t appear to be less than 450k to 500k. Not sure whether you would be able to re-coup the rental return, especially after you add all the costs of purchasing it.
I guess the unit would suit a couple or professional, and the house a family.

Simon

Hi Gazza
I agree, although all that has been tried before, including mediation. It's all about revenge and not wanting to even give me my share. Lots of negotiations and possible outcomes, but unfortunately blind hate has has taken over both her and her family. For her it's all about money. Sad but true. 
Hopefully she will finally listen to her…[Read more]

Hi Gazza
I agree, although all that has been tried before, including mediation. It's all about revenge and not wanting to even give me my share. Lots of negotiations and possible outcomes, but unfortunately blind hate has has taken over both her and her family. For her it's all about money. Sad but true. 
Hopefully she will finally listen to her…[Read more]

Hi all
Thanks for all your wonderful comments.
All my life I have tended to make snap decisions without really realising the full consequences of my actions. Sometimes it has worked and sometimes it. Hasn't. This time, I can't afford to be as frivolous with my money again. Therefore, a plan is needed. As the settlement will most probably end up in…[Read more]

Hi Shahin
Thank you for your reply.
You are right when you say that it all depends on the amount I will get.
This is my first time I have ever rented, and frankly I hate the fact I am not putting that money towards my mortgage. Having said that, I understand the premise behind your comment and maybe that is an option I need to look at. As I am a…[Read more]

Thanks Mackar Unfortunately Warnbro is close to Rockingham, so quite far from Joondalup. Thanks anyway for the tip. Cheers Simon

Hi MingI guess it depends on how you feel about it. I live in Clovelly (near Bondi) and a large number of apartment blocks and units overlook the cemetery, which overlooks the ocean. No chance of ever having your views built out!!It appears it does not bother many people, asany units with such views are always sold. I guess if your renters are…[Read more]

Hi DeeThank you for your offer. It would be great if you could.My e-mail is: [email protected]Again, thank you.CheerSimon

Hi Hayley
Know all about the nasty divorce settlement.
I too have started back into the property market and I am learning fast.
My suggestion if you are up in WA, is to maybe invest in a good buyer agent in Melbourne who knows the area and will hopefully make a sound investment for you.
I currently have one in WA and about to contact another one…[Read more]

Yes Richard, true. Not a lot, but I guess I am steering towards trying to reduce our mortgage in Syd. Guess it’s unpalatable to give $10K to the tax office, but then again the saving might be in the long term of the interest we save on our mortgage….

Hi Terry
There is no mortgage on the land. We have paid it off in full. We only owe $45K to my wife’s mother and $10K in agent’s commission. The rest we can dump on the mortgage of the Sydney unit, until we need to pay the tax. I believe though that can be deferred using our accountant. It is not a sure thing that we can sell the land for more…[Read more]

In my very limited experience with property I have learnt that once you sell it is very very hard to buy back in again. I would look at other options before you end up doing a fire sale. Besides if you go to a bank manager asking for a loan and tell them you have $80K as a deposit or three properties, they will probably prefer you had 3…[Read more]

Hi all
Thank you so much with all your ideas. Certainly food for thought. Main reason for selling (though we don’t really want to) is so we can get our debt down on our unit in Clovelly, NSW. Paying quite a bit off our mortgage and we would like to really shave a big chunk off it.
Regarding the GST component, I thought GST was only payable on new…[Read more]

Hi PK
That’s what we thought. Although the tax benefits would be an incentive if we built, we might do better if we took the money and ran. That way we can put the money towards other properties.
Thanks for the advice.

Simon

Hi there
Monopoly is right. Don’t panic. Doing a bit of homework beforehand will probably prevent you from rushing headlong into impulsive buying. Look at your local area first, as it’s probably the one you are most familiar with. We are based in NSW and have one unit we are currently renting out. We also bought a block of land in Margaret River…[Read more]

Hi Humph
We have a 2 bedroom unit in Clovelly, right near Gordon’s Bay which we have been renting for the past two years. We have been getting about 3% return on rent. Bought the property at the peak of the market and paid $590K and was getting $400 p/wk. Has got ocean views though.
I guess there are a lot of units around Coogee and you need to…[Read more]

Thank you for the feedback.
I guess though it does not replace one’s own research.
I might get some info from them.
Thanks
Simon