Hi Paul, welcome to the forum!
If I were you I would spend minimal amount on fixing the property up to rent it out again.  I would then purchase another property with the equity, then either use the extra income from property 1 to help pay down property 2, or just borrow again for a 3rd property etc…..
Unless you needed the $100k for some other reason (paying off mortgage, not tax deductible…etc), then there is no good reason to get rid of an asset that is putting $$ in your pocket!
cheers
Tracy

It will come in the post I would say. I bought my books at the seminars so havent bought through the website before.
Happy reading!

Hello Mrtender,
Have you looked around for lending? just because you have business with one bank, doesnt mean you have to stay with them.
I Dont pay any fees whatsoever with my bank.

I think there is a gremlin in the system with all of those posts!
Anyway, If you are new to investing, How to maximise your property portfolio would be the best book to go with. If you have a little bit more experience then the pocket guide to investing is excellent because it has step by step what you need to know and ask when buying property. The software comes with any of her property books. Considering I use it about 10 times a week when scouting for property, I think it is well worth the $30! I have been using it for years. You will need to know all expenses eg: council rates, body corp fees and depreciation (which is all discussed in the book) to do the calculations.
Let me know how you go with it!
Tracy

Her conveyancer should have alerted her to any issues surrounding the body corporate considering it is mentioned on the title.  Also, it seems odd that she has never been included in any previous decisions, as if she is part of the body corporate, then she would have been a voting member and have rights on decisions made.
A good place to call would be BCS – body corporate services, there is one in every state – website http://www.bcssm.com.au
they should help.

I have bought a place that just needed a paint inside and some tatty carpet replaced. I had the whole 2 bedroom unit painted slightly off white, ceilings, doors walls – the lot. Replaced the carpet in the lounge with vinyl (sounds horrible, but tropical climate in cairns, worked well) this only cost me $1680 to do! Trades have obviously increased in price in the last couple of years, but it still is a cheap option to increase your rent.
On a different property one of my property managers said if I replaced carpet, I could get an extra $25 a week rent.
Obviously try to buy something under value, where the rent is slightly under market value for the area, then increase with new tenants.
Are you working out the cash flow including your tax deductions?

I have looked at the website.  Looking through the T&C's you need to borrow over $450k to be eligable for the grant, also you have to use their mortgage broker etc..
It is no different than using a buyers agent that you pay fees to, to find you a property. They may be giving you 2K rebate, but what are you paying them extra to do so?
In summary: A private company using a sneaky marketing strategy to lure inexperienced investors.
I also dont think they should be using  the term 'Grant' as it gives the impression the government are behind it.

There are previous topics on your question, have a search through the forum and see what you can find, there are mixed views, but you may find that most of the forumites are investors who do their own research and dont use agents (me included).
Good luck with your investing!
 

It is definately 60 days notice to evict in QLD as I have just done this.
Get rid of your property manager, quick smart – give them notice as soon as they have given the tenants notice. You will need to check your original lease agreement with your property manager to see how much notice you need to give them.
I have just been through this situation myself and am so happy with the new property manager! There is such a huge difference between the good and bad.
Might be a good idea to run another post asking the forumites if anyone can recommend a PM in your properties area?
Tracy

Hi,
there are a few companies around that do this – just be aware they will charge $$ for commission. Some up to $10k. So you need to decide if you are wanting to pay this, or search for yourself and save your $$.
Sorry I havent heard of that particular company