Where we have bought, inner 5km ring Brisbane, property has doubled around 7-10 years for the past 27 years I have been investing and for years before that when I was too young to invest, but my parents house purchase prices from 1959 bear it out. Actually, their first home bought for about $3K in 1959 happens to be worth about $1.5M now. Don’t…[Read more]

I’d try to get the opinion about the soil being the reason for his garage cracking in writing. Maybe the tree removalist who said it will be prepared to put in on paper for you. There have been so many reports about the drought causing cracking and problems with buildings and slabs, that it probably is not your tree.

I’d agree also that you need…[Read more]

Curious about what suburbs you looked at the properties you mentioned. Last house we bought cost $460K in Coorparoo nearly a year ago . Would have rented for $240 per week according to agent. Would probably not have bought it except it adjoins another IP and gives us a development opportunity down the track. Paid market value (in my…[Read more]

Hi Cata. Don’t know you from a bar of soap, but am always sad to hear news like this. Hope all goes well for you and your wife. Don’t know if you have children, but if so, try to stay civil for their sake.

I cannot even begin to imagine the stress involved in what you may go through, but if you have tried to make things work, and cannot, then at…[Read more]

Save the $5490 and increase your repayments. What a massive rip off.

If you are not disciplined enough to do this on your own, best to just increase your repayments each month and get the same result without spending $5,490 in the process.

Wylie

Couple of questions spring to mind. What is the home worth? If you sold it what would you be left with after paying out the loan? Have your circumstances changed that you now can’t afford that loan?

I am not sure what duplexing it actually means, but I assume it means you somehow split the house in two and rent half, or both sides. If that is…[Read more]

I think the suburbs surrounding the top schools in any city hold their value very well. It is certainly the case in Brisbane.

Wylie

Louise Griffin (look up Griffin in the phone book – agency is in her name) at Stones Corner is a managing agent who I have met and have been impressed by. We manage our own properties so cannot say I have used her.

Wylie.

Personally, I wouldn’t touch it with a barge pole given that it is a one bedroom student place, and I know nothing about them. Add to that the fact that in eight years you have been told no capital growth.

I’d move on to something better, but that is just my opinion.

Wylie

I think you have answered your own question[biggrin]. On your figures regarding both sale and rental, I think the extra bathroom sounds the way to go.

Wylie.

I don’t know anything about Audrey’s situation, but in our situation with heavy negative gearing and one income, because the loans are in the hubby’s name, it makes a big difference to the tax he pays.. Maybe we owe a lot more than Audrey. Our houses are inner ring Brisbane and capital gain has been very good. I realise the new tax brackets make…[Read more]

Don’t know if I am allowed to name it, but this can be deleted if it is outside the rules – I have just loaded the free version of Spamfighter – which has worked well for the couple of days I have had it on.

I hope nobody tells me I have loaded on a baddie but it certainly has stopped the pen*s enlargement and Viagra emails I get every day along…[Read more]

What a scary story.

Could you counter sue him for selling the house so far under value?

I have changed my original post after re-reading your story and reading gross’s post (below) which is really comprehensive and impressive.

I really hope things turn out.. As far as the stress is concerned, is it too late to transfer your assets to your wife,…[Read more]

Lovely job. Isn’t it nice to see the finished photos and compare them to the before ones.

When we look at our renovation photos we have trouble believing we have just turned a sow’s ear into a silk purse, even though we may have just spent weeks and weeks painting, cleaning, tiling and all the other things that we do.

You should be very proud of…[Read more]

I know that we have back claimed when we have had similar situations with receipts for IP expenses that have been left out, but our accountant looks after the nuts and bolts, so I don’t know just how he does it.

If you do your own tax, give the ATO a call to ask them how to go about it. If you use an accountant, give them to him with the next lot…[Read more]

I don’t know of any service, but would certainly use it if it was set up. The problem would be getting self-managers to hear about it. The newspapers are not going to let you run an advert that will take their customers away, so you can give that idea away.

I know that a couple of years ago I listed our houses with a web-based group but was not…[Read more]

Thanks for reminding us to chill out about perceived problems.

I have a son about to do the “most important exams in his life” or so he keeps being told. We are fairly chilled about things and don’t stress ourselves or him about it, but he does know these exams are important and we expect him to do HIS best.

I know that many, many parents put a…[Read more]

Without seeing the property, why not consider enclosing the area and making it a rumpus or bedroom and put a new double carport in front.

This would mean an improvement and subsequent increase in rent for the extra living/bed room.

Wylie

Personally, I’d never do it WITHOUT an accountant. You sound like you know what you are doing though, but what if your research has missed something claimable? Or what if you make a mistake? To me it comes down to the sleep at night factor.

I get everything in order and hand it over. I don’t have to spend hours on research, but I do pay for their…[Read more]

If the main room downstairs is an extra room, ie. the house upstairs is the original house with a living room, then the owners will probably say you are buying the house as is and the downstairs is a bonus. If you are getting a bargain already, why not just buy it so they don’t feel they are being shafted. I think it is good for each party to feel…[Read more]