Thanks Scott, we'll do the building & pest inspection separately but the issue we have is to determine the cost of a future project. For example, we saw an old house on a large block of land in inner west Sydney and we're hoping to either renovate it and rent the house out or tear it down in a year or two and build a dual occupancy home (we can't…[Read more]
Yes, my strata is all up in arms about it after we recently saw their driveway that they are almost completing. So far, after our letters of complaints, the builder has agreed to meet with us but I'm worried that they may drag their feet to solving the issue until everything has been completed and they go off, leaving the new tenants to settle i…[Read more]
crj wrote:
I'm sure that you are not expecting anyone to recommend that you break the law
Of course not., was half asleep writing it… It doesn't really matter if I continue renting out or not (although I'm aware that I should declare any rent received to the ATO), as the rent received + tax claims are not looking too attractive now. I've man…[Read more]
Thanks Re Lax & Scott, my partner just bought an IP and the strata manager there seems quite OK. Have yet to talk to the committee to get some feedback, but fees & running cost all seem pretty low, and the building seems well kept.
Not sure if you're currently renting or owning a unit, but you could consider buying a 2 or 3 bedder unit first, rent out one of the rooms. After a few years, you could consider turning it into an IP & get your house. I know of some ppl who started with units & slowly upgrading.
TCLinvestments wrote:
Most of them have rich daddies with very deep pockets.
That is a really bad generalisation. Some overseas students maybe rather well-off, but the many (I would think it's the majority) comes from middle income families who have sold/mortgaged their assets back in their home country. If economic situation in Asia takes a t…[Read more]
Property prices isn't the only factor that RBA looks at when deciding on rates. You could see how other factors affecting economic outlook are in the next few weeks, if it's mostly bullish & rosy news, then you can almost be assured of a Dec hike. From what I've heard, even if RBA do hike rates, it'll probably be in small steps of 0.25 each tim…[Read more]
Hi Terry,Good point but I would assume that most lenders wouldn't bother with a site inspection? I was hoping to get some filler to patch the cracks & repaint the unit.
Hi Suchy,I personally would only read property investment books written locally, as not only would the tax system be different, but mortgage and real estate rules are also different. Even in Australia, different states have some different rules.You can search this site for some recommended reading, but I've read books by Michael Yardney, Ed Chan &…[Read more]
We're trying to replace our current strata and have got quotations from GK and Premium Strata. One of them is on the more budget concious side while the other is more expensive but have disbursements capped.Some committee members are keen with the expensive quote, although I prefer the cheaper one, unless their quality of service is really bad.