yeah suchy we have our other three IP's fixed IO loans for 3 years so that is all secure and stable, while our PPOR is variable on $280k… I suppose the great unknown is where will interest rates be when we come off the 3 year fixed….mind you by than I would hope our properties will be positive with rental increases and tax implications….

yeah I had thought of that before but my property manager didnt like the idea… I suppose as my property manager she is working for me and should have my interests at heart.. and I'm sure the tenants wouldn't really mind if it saved them a weeks rent.

just hoping my insurance would cover the damage…who would be required to pay the costs of having it removed if it fell in our yard? thanks for your comments

We have BMT to do our depreciation schedules. Our porperties are in Tas but they flew down to do these. They cost us about $600 per property and we were able to claim for the previous tax year. It does not get cut from your selling price, instead you claim a depreciation for tax purposes each financial year…. this amount is deductible from your…[Read more]

Look in last month API magazine.. there is a story on someone who does this for a living. Cheerstugger

Thanks Kenny…good work on those answers. Cheerstugger

Thanks fletcher… does that mean I can claim on the cost to get the power and water on? Cheerstugger

well were are building a house at the moment but we won't be in it until about 1 month after when we wanted to temporarily be in our IP. We are currently living in the NT teaching and being accommodated by the government rent free…hope this helpscheerstugger

Thanks Linda…. I will try and remember this down the track when we go down that path. Cheerstugger

Thanks duckster…thats the sort of advice I was after. Cheerstugger

G'day Linda…Thats some great advice…. thanks heaps for that. Just a quick question as to getting 3 independent valuations done on my IP before I move in and use this as my PPOR…. how will these valuations be used down the track? Will it be for CGT purposes, and how will a high/low valuation effect my CGT? Cheerstugger

Thanks Richard… so if I want to fix up the bathroom and kitchen then I should look to do that in the next few years while it is an IP. My concerns are obviously putting in a lot of new stuff while tenants are living in there, and how this will affect my CGT? How will CGT work when I move in to my IP… I have owned it since 2007 and plan to move…[Read more]

Thanks Richard… you have been a big help for not only myself but a lot of another investors on this website. Thanks again and keep up the good work, it is much appreciated. Cheerstugger

G'day all…Thanks for your advice…. I contacted the surveyor, who gave me the solicitors number, who then gave me the director of the developments number. Turned out as expected… happy to waive the covenant, as this was put into place to avoid kit homes and badly designed homes being built. As it turned out there was a badly designed home…[Read more]

G'day all…Thanks for your advice…. I contacted the surveyor, who gave me the solicitors number, who then gave me the director of the developments number. Turned out as expected… happy to waive the covenant, as this was put into place to avoid kit homes and badly designed homes being built. As it turned out there was a badly designed home…[Read more]

thanks for that advice.. i will still try and contact the developer and just seek some clarification…. cheers guystugger

Good on you Richard thanks for the reply. My Wizard broker is putting the grant in for us so i'm assuming the money will go into the bank account in which we use to make our mortgage payments. Does that sound right? cheerstugger

G'day guys…thans for the replies….. I spoke to my broker at Wizard today and there are some dodgy things going on….the worst being that when we refinance under the GE loophole we may get whacked with LMI for the second time on the loan….what crap

G'day Richard…Yeah based on the current market we wouldn't fix yet but perhaps at the end of this year or early 2010. Do you think rates will remain steady for the next 12 months? Thats my belief so hopefully we can take advantage of low variable for the next little while. Cheerstugger

Well i went through wizard and thats the deal they got me…has been pretty good on interest rates up to now