This is a good post thank you David, Jamie, Richard and all.

Certainly most of those with negative gearing would like to change it to positive to enjoy that passive income and increase it.

I suggest for the benefit of others equally new to investing or looking to improve their negative gearing position, that you post as much material on here as possible before going offline, or do both. 

Good luck with a great outcome David.

Cheers

thecrest

Is the economic collapse of the USSR forgotten already ? 

For some it's the elephant in the room.

Capitalism works, the need to exchange time and effort for money drives people to go to work.

Centrelink doesn't seem to drive many people to work.

The capital seeks the labour, the labour seeks the capital. Old story.

Anyone who thinks the exchange is unfair, stay home.

Socialism suits those who just want a free ride, and was used very effectively in the past by political parties to exploit and  incite the unsuspecting working masses to revolution, and the outcome, which was eventually a failure, was just a different group of fat cat all powerful chiefs but in drab outfits. Talk about exploitation !!

cheers

thecrest

Either you control who occupies your property with a process of

tenancy application / decline or accept /

lease /

or someone else will control who occupies it.

There is only trouble ahead for you by the sound of it.

It's bad policy to have somene in your property who is not legally responsible for damage, and that person is the illegal occupant.

My suggestion is to write to the tenant, outline the breach, demand the illegals vacate immediately otherwise you will evict the lessee.

Cheers

thecrest

To my knowledge, in NSW, if the utility company decided to advance credit to the tenant, and you are not a guarantor,  then the tenant default is the utility company's debt to pursue with the tenant, not with the property or property owner.

You were not given any opportunity to approve the tenant's level of credit or debt, or to check their credit worthiness before allowing them to run up a debt with the utility company, that was done by the utility company, nothing to do with you.

Don't be bluffed into paying.

You can always ask the utility company which document or agreement signed by you would they be relying on to argue that the debt is yours e.g. supply contract.

Def agree with TerryW to obtain written demand from Ombudsman quoting the act under which you are required by law to comply. Then you can check with the Privacy Commissioner before providing tenant details. CYA at all times.

Cheers

thecrest

Hi Jase.
PM me if you like, I have some suggestions relating to investment in motels. Also might help if you add an email address to your details.
Cheers
thecrest

Hi Wannagetthere.
Obviously there are a number of ways and means of “getting there”, ranging from possible to certain, but I suggest you put the main one into action because it’s guaranteed to work – save for a deposit. The proven method obviously is to cut expenses, increase income, build reserves, increase education in real estate, educate yourself exhaustively on a geographical area you will target. Aim for say 3 years, document all your efforts ready to impress a lender, and it will become a certainty. I guess you could ask yourself if it would’ve been worth it if you’d put a plan into action 3 years ago and own a property now – so where would you like to be 3 years from now ? Where you are now, or owning your first property?
Wish I’d started very young. The above info from me is very hypocritical, because I didn’t do it until my forties, it’s what I know now.
Just get started, use this forum and all the help from the finance and real estate investing experts here who’ve been so very helpful to me, and the results will be yours.
Cheers
thecrest

That’s a tragic and sad situation with no winners. It’s just a total loss all round. Great sympathies for the families involved. Taking a gun to a property dispute is not recommended. Such a useless thing to do. The gun debate continues in the US. No-one seems to have the magic answer and the issue does not look like being resolved anytime soon.
cheers
thecrest

Hi JacM.
Put it right here so we can all see what St George did pls.
Cheers
thecrest

If you ask the bank if it’s a binding agreement, what do they say ?
possibly one of those situations where you could win a battle and lose the war.
Banks have so much discretionary power, you could expect them to use some later.
Cheers
thecrest