Forum Replies Created
Thank you for your replies.
I have considered the easy release type stick on hooks but I've had problems with these in the past. Admittedly on tiles in a bathroom. I'm not sure if this is the type James and Ryan are talking about.
Thanks thecrest. A limit on the amount is a good idea. And Catalyst I think I will put them up myself, some types can pull through the gyprock in time and if they stick them up in silly places it could turn future tenants off. I'll Google for the best height and perhaps optimum number, so future tenants won't be put off by porcupine walls.
Maybe if they're not happy with the restriction on the amount I'll let them have I can suggest the stick on one's as long as they don't leave marks, and warn them it's their responsibility if things fall from those hooks.
I'll also go and check out the 3M hooks.
Your advice is very much appreciated.
Cheers
ZigThanks Richard,
I have had this loan setup for 6 years and it has been working well for me.
But I will consider other options when I purchase my next IP.I am just throwing something up as a suggestion to save Gobsospace some money over time.
I would be just as interested as Gob to see a better structure thanks.
Zig
Not a suggestion but for your consideration.
Since you are going to rent the place eventually I guess you will purchase another property to live in.
In which case you will probably end up with no cash to offset against the loan for the original property you lived in which then becomes the rental.I have a St George Portfolio loan for my rental property with a Line of Credit Loan for my PPOR extensions, reno and cars etc. This loan has a credit card to which all my expenses including those of the rental property and living expenses. The idea of this is that while the Visa card debt builds up, you are not paying interest on that money had it immediately been deducted from the LOC loan. This is automatically paid down each month before interest is due on the card. You do have to be careful spending. But I pay all my major bills on line and keep a continuous eye on what is going through the visa. Loan payments to cover interest only are also tranferred each month to the rental loan. Cash can be drawn down free of charge via teller machines from the Line of Credit Loan using the Visa card. The Bank offers 0.7% discount on the LOC loan but it must remain variable. More loans can be added to the portfolio on approval from the bank.
Please talk Bank managers first before deciding on this to the latest and more accurate details. I am just a Pleb investor and by no means an expert so do plenty of research on this.
Cheers
ZigHi Young I.
I am far from an expert in these matters but I will try to get the ball rolling here.
I'm guessing you intend to use credit for your deposit. The banks most likely won't accept this, and for good reason. If you can't save for a deposit, you will most likely struggle to pay the two lots of interest and could end up owing more than you originally borrow. I suggest you go to a bank or loan broker and ask for suggestions and help. PS I htink you will probably pay 21% interest, unless I am misunderstanding your question.
Hi Lopetha, I suggest compact fluoros if you're going for down lights. You can use the same holes in the ceiling. But if you want to stick with the old fittings to save money you should get an electrician to do the job, bad wiring is dangerous. But get a few quotes.
If anyone sees incorrect information here please make a post informing so. I'm not an expert, I'm just stating what I know from recent experince.
I recently rebuilt an extension on my PPR and renovated half the house to blend in with it. I had no down lights before, but opted to put in compact fluoro type down lights throughout. These lights work directly from 240V, with the required electronics being integrated in the base of the globes. Low voltage down lights still consume considerable power, wth losses through their associated tarnsformers. 50 watts is 50 watts whether its power conumed by a 240V light or a 12V. About 10watts is wasted in the tranformer producing heat in the celing. The globes get hot too, (compact fluoros run cool, but are less efficient than fluorescent tubes). The compact fluoro lights come in various wattages, I think from about 7watts up to 18, (not sure), and you can get big double bulb units. The best looking ones have a frosted lense to cover the ugly bulb, and they're not that expensive. They give an even spread of light which spreads right up to the cornicing. As opposed to the spot on the floor effect of halogen lights. You'll also have to choose the colour light you want, (different variations of white). Best to asks the salesperson about this.
There's not a lot of info. on how far apart to locate these lights but I put in 14 watt (normal size down lights) and 11 watt (smaller halogen size) at between 1.5m and 1.8m apart and switching them in groups of 3 or 4. And that gives heaps of light.
Cheers Zig
Thanks Marg
Considering seasons for lease periods sounds like good advice.
Hi Maree,
Yeh. I thought about the water storage idea, but it would meen puting a trafficable cover over a huge surface area with supports protruding to the bottom surface of the pool. I'm not sure that's the way I want to go. Thanks anyway, it's a good thought though.
Thank you JL.
You have been very helpful and I'll take your advice seriously.
Good luck with your investing.Cheers
ZigThanks for your feedback Scott. I'll Check with my insurance company on whether the normal public liability covers pools. I know I'll most likely have to have someone maintain it regularly. I just wondered if anyone that owned a rental with a pool might identify some other issues.
Yeh, I think I’m full bottle now.
I guess thats a good reason not to sink too much of your own money into any property.
Thanks heaps for your time Rikky.
Cheers Zig [upsidedown]
You can get greater tax deductions through building write off from the newer property, (it cost more to build), also items can be depreciated for more deductions, unless there is new stuff in the older property. the newer property should go longer before maintenance and repaint, unless this has just been done to the older place.
Having said that I favour land size also.
Just food for thought.
Cheers
ZigJust to clarify, the “capital allowance” I’m refering to is the building construction cost write off.
Hi T-man
I fairly inexperienced myself, so regard my advice accordingly.
Having the land in your name will incur costs. Make sure you get these back from your father-in-law.
I’d see an accountant, (who invests in property), and ask him about the renting implications under these circumstances.
It sounds like a good idea to me, but when you sell the land to him you will also incur fees, and tax if profiting.
Hopefully someone more experienced will comment on these issues.
