Trying to get my first investment property. Im 19 and 4th year plumbing appretice. Looking at the buy and hold strategie. Im looking at a property max about 300k. What areas fit that price range with good capital growth? In nsw?
300k max
conrete contractor ryde/marsfield nsw
Need a 5x7 stenciled concrete patio done in a villa in Marshfield, can anyone recommend a conreter in the area? Thanks.
conrete contractor ryde/marsfield nsw
What should PM fees reasonably cover?
Hi,
My first IP is a unit in Randwick area in Sydney. I am using a real estate agent as PM who charges 6.6% management fee monthly (discounted from 7.7%). They also charge $9 per month admin fee, extra standard charges related to letting fee/re-letting fee, advertising fee, tenancy database check fee, etc.
I recently had change of tenant, and so PM arranged the smoke alarm to be checked & the electrician ended up changing it and fixing a few things like light switch, change globe. And a handyman to fix a screen door. Both of these of course I paid for.
The monthly statement from PM agency has additional charges for "supervision fee" - which I challenged and it is in the management agreement where any maintenance/repairs organised by PM has 5.5% of its cost as additional fee payable by me. I mean this extra charge does not amount to that much this time around, but my query is regarding the legitimacy of the principle involved here and going forward if I have a more expensive repair bill.
My question is, whether this type of "supervision" is exactly what a PM is being paid for every month from the PM fee. Is it standard for this to be an "extra" fee? I mean for most months of the year, the PM collects 6.6% of my rental income to not do much except pay the odd bills and EFT of rental income from the tenant. I can understand paying extra for letting fees, as there is extra work involved with this, but I would consider organising tradies to come in and do maintenance (not a renovation), as being part and parcel of normal PM duties.
If this is not standard practice, could members suggest what reasonable PM % fee is for eastern suburbs and whether any recommendations for good PM in this area? Thanks for your advice and thoughts.
My first IP is a unit in Randwick area in Sydney. I am using a real estate agent as PM who charges 6.6% management fee monthly (discounted from 7.7%). They also charge $9 per month admin fee, extra standard charges related to letting fee/re-letting fee, advertising fee, tenancy database check fee, etc.
I recently had change of tenant, and so PM arranged the smoke alarm to be checked & the electrician ended up changing it and fixing a few things like light switch, change globe. And a handyman to fix a screen door. Both of these of course I paid for.
The monthly statement from PM agency has additional charges for "supervision fee" - which I challenged and it is in the management agreement where any maintenance/repairs organised by PM has 5.5% of its cost as additional fee payable by me. I mean this extra charge does not amount to that much this time around, but my query is regarding the legitimacy of the principle involved here and going forward if I have a more expensive repair bill.
My question is, whether this type of "supervision" is exactly what a PM is being paid for every month from the PM fee. Is it standard for this to be an "extra" fee? I mean for most months of the year, the PM collects 6.6% of my rental income to not do much except pay the odd bills and EFT of rental income from the tenant. I can understand paying extra for letting fees, as there is extra work involved with this, but I would consider organising tradies to come in and do maintenance (not a renovation), as being part and parcel of normal PM duties.
If this is not standard practice, could members suggest what reasonable PM % fee is for eastern suburbs and whether any recommendations for good PM in this area? Thanks for your advice and thoughts.
What should PM fees reasonably cover?
Renovating IP
Hi there
I just wanted to get some thoughts on how to decide when it's worth investing in an IP to bring up to date?
One of mine has recently become vacant and I'm wondering if it's worth updating the kitchen and bathroom (in addition to giving a paint job etc).
I can rent it out as is and probably command a slight increase in rent compared to what it was previously rented for but I am wondering whether it's worth throwing a small amount of $$ in and asking for more rent.
Thanks!
I just wanted to get some thoughts on how to decide when it's worth investing in an IP to bring up to date?
One of mine has recently become vacant and I'm wondering if it's worth updating the kitchen and bathroom (in addition to giving a paint job etc).
I can rent it out as is and probably command a slight increase in rent compared to what it was previously rented for but I am wondering whether it's worth throwing a small amount of $$ in and asking for more rent.
Thanks!
Renovating IP
Buying a battle axe?
I'm currently searching for an IP on Logan and found something which ticks all my boxes, but it is a battle axe, I've never really considered a battle axe before and just wanted to see what people's experiences were?
The agent thinks they appeal to tenants because of added privacy and safety for kids which seems to make sense.
I would expect resale to be slower and lower buy this is reflected on the purchase price.
The agent thinks they appeal to tenants because of added privacy and safety for kids which seems to make sense.
I would expect resale to be slower and lower buy this is reflected on the purchase price.
Buying a battle axe?
Beyond bank 4.34%?
tried to look for information on beyond bank on the forum and couldnt find much...
looking at getting a loan for ppor with 20% deposit and looking to pay down asap
beyond bank have released this product?
http://ift.tt/1LUAmSt
looks pretty good ie no fees, offset etc
how do they stack up on the serviceability scale? say compared to st george?
what would be the downside to this product?
looking at getting a loan for ppor with 20% deposit and looking to pay down asap
beyond bank have released this product?
http://ift.tt/1LUAmSt
looks pretty good ie no fees, offset etc
how do they stack up on the serviceability scale? say compared to st george?
what would be the downside to this product?
Beyond bank 4.34%?
If you had between 500 to 600k to invest where would you invest it and why?
If you had under 600k borrowing capacity without having to get LMI right now where (town / suburb) would you invest it, what would you buy and why? (or would you invest it for that matter)
If you had between 500 to 600k to invest where would you invest it and why?
Finding the owner
vendredi 27 février 2015
I'm looking at a property where the owners are overseas that I want to make an offer on. How do I find their contact details or the real estate that manages the property? Is it in rpdata or is the council an avenue to provide the info?
Finding the owner
port adeliade
Hi guys and girls new here
live in sydney have ip in norwood and morphett vale any tips on port adelaide and surrounding suburbs please?
I do very small renos ,though i mainly just sit on a property and sell when my gut tells me.
cheers
live in sydney have ip in norwood and morphett vale any tips on port adelaide and surrounding suburbs please?
I do very small renos ,though i mainly just sit on a property and sell when my gut tells me.
cheers
port adeliade
hot market buying prior to auction
Hello all,
What type of strategies and method have you employed to convince the seller in selling so that you can buy at market value?
as all of you may agree as a buyer in a hot market you want to buy at market value and not excessively over paid.
any advice on how to approach the agent and what type of strategies will work in a hot market?
What type of strategies and method have you employed to convince the seller in selling so that you can buy at market value?
as all of you may agree as a buyer in a hot market you want to buy at market value and not excessively over paid.
any advice on how to approach the agent and what type of strategies will work in a hot market?
hot market buying prior to auction
BCC Notice
Howdy
So I received a notice from Brisbane City Council today.
It advises that one of our properties is in an area that may be effected by "long term improvements to the area"
I suspect our property is in the way of a road upgrade and may be bought up.
I believe this is relatively far away in terms of time.
Has anyone been in a similar situation, is the buyout value fair?
Our property is not really comparable to others in the area as it is a unit with 4 bedrooms and 2 bathrooms.
Should I be looking to sell the property now, before this heats up? It is currently in a fantastic location(CG) and comfortably positively geared
Cheers
So I received a notice from Brisbane City Council today.
It advises that one of our properties is in an area that may be effected by "long term improvements to the area"
I suspect our property is in the way of a road upgrade and may be bought up.
I believe this is relatively far away in terms of time.
Has anyone been in a similar situation, is the buyout value fair?
Our property is not really comparable to others in the area as it is a unit with 4 bedrooms and 2 bathrooms.
Should I be looking to sell the property now, before this heats up? It is currently in a fantastic location(CG) and comfortably positively geared
Cheers
BCC Notice
Wifi for townhouse complex or apartment complex
Hi everyone, I'm in urgent need of some good info regarding WiFi internet for body corp....
:(:( (This is for a good friend of mine.) He's Columbian and doesn't know much about internet and isn't very tech savy.
He manages a town house complex, just wondering Q.1. now days... what is the requirement for townhouses to provide wifi internet to owners and tenants inside the complex? Is there legislative requirement? or is it something that's meant to add value?
Q2. if it's required, or you want to install it: how do you go about doing it? Do you need it so it covers the whole complex? or just the BBQ, tennis court and pool areas? is it up to the owners to decide? I can't imagine you would want to blanket the whole complex.
Q3. what happens if one Ahole hogs the whole bandwidth or torrents and uses up all the quota? Does body corp get stuck with a massive bill? What plan are you on? How do you manage internet hoggers?
Q4. what happens if someone downloads something illegally like copyright movies and tv shows? ISIS training videos? child porn? etc?
Q5 Is pay to use internet a good option? like in hotels first 30mins free or 100mb free. What are your outcomes? any good? better than a plan that everyone shares the same quota (tragedy of the commons)?
Q6. In this day and age people have 3g 4g on their mobile devices, and everyone has internet. which dumbass came up with the idea of needing to have wifi to share? It only takes one device to open one of those apps that continually uploads (p2p or uploading to cloud) to hog all the bandwidth so no one else can get on.
Please share your experience with Wifi and what the end result was. and what provider and plan you choose in the end or you wish you choose.
Thanks in advance.
:(:( (This is for a good friend of mine.) He's Columbian and doesn't know much about internet and isn't very tech savy.
He manages a town house complex, just wondering Q.1. now days... what is the requirement for townhouses to provide wifi internet to owners and tenants inside the complex? Is there legislative requirement? or is it something that's meant to add value?
Q2. if it's required, or you want to install it: how do you go about doing it? Do you need it so it covers the whole complex? or just the BBQ, tennis court and pool areas? is it up to the owners to decide? I can't imagine you would want to blanket the whole complex.
Q3. what happens if one Ahole hogs the whole bandwidth or torrents and uses up all the quota? Does body corp get stuck with a massive bill? What plan are you on? How do you manage internet hoggers?
Q4. what happens if someone downloads something illegally like copyright movies and tv shows? ISIS training videos? child porn? etc?
Q5 Is pay to use internet a good option? like in hotels first 30mins free or 100mb free. What are your outcomes? any good? better than a plan that everyone shares the same quota (tragedy of the commons)?
Q6. In this day and age people have 3g 4g on their mobile devices, and everyone has internet. which dumbass came up with the idea of needing to have wifi to share? It only takes one device to open one of those apps that continually uploads (p2p or uploading to cloud) to hog all the bandwidth so no one else can get on.
Please share your experience with Wifi and what the end result was. and what provider and plan you choose in the end or you wish you choose.
Thanks in advance.
Wifi for townhouse complex or apartment complex
What does it take to be successful?
What do you think is your number one quality that you have developed that helps you invest, create and be successful in life?
If you had to train someone younger what would you focus on developing first?
Is it ability to analyse, see things differently to most, negotiation skills, leadership skills? What is YOUR thing?
If you had to train someone younger what would you focus on developing first?
Is it ability to analyse, see things differently to most, negotiation skills, leadership skills? What is YOUR thing?
What does it take to be successful?
Frankston - The half million dollar suburb...and then some.
It's happening folks - hold onto your hats. Get in quick before it's too late. Check out this place. Mouldy and run down to bits, but yet it sold for $563,000! In Frankston, yes in Frankston.
http://ift.tt/1wtWSAb
I can already feel myself bathing in those $100 notes... :)
http://ift.tt/1wtWSAb
I can already feel myself bathing in those $100 notes... :)
Frankston - The half million dollar suburb...and then some.
Rate question
Hi all,
Long time reader, 1st (hopefully out of many) post.
First of all, thanks all for the awesome knowledge you are sharing, it is invaluable.
After recently getting my PPOR sorted, I am now looking for IP #1 and planning for IP#2 in a few months.
Been shopping around for rates, and right now looking at Macquarie basic home loan that they offered me for 4.49% for up to 85% LVR, LMI cap if needed, upfront fees of $363 and no monthly fees.
Does this sounds reasonable? I actually thought rates would be a bit lower.
I currently have my PPOR with NAB and thought of going with them, but they are using a ridiculous rate for additional loans against new IPs if you already have a loan with them (7.5% I think, instead of actual). Understand other banks are doing the same?
Was also thinking of going down the loans.com.au path, but not yet comfortable of doing this without a broker.
Ta,
Mancha
Long time reader, 1st (hopefully out of many) post.
First of all, thanks all for the awesome knowledge you are sharing, it is invaluable.
After recently getting my PPOR sorted, I am now looking for IP #1 and planning for IP#2 in a few months.
Been shopping around for rates, and right now looking at Macquarie basic home loan that they offered me for 4.49% for up to 85% LVR, LMI cap if needed, upfront fees of $363 and no monthly fees.
Does this sounds reasonable? I actually thought rates would be a bit lower.
I currently have my PPOR with NAB and thought of going with them, but they are using a ridiculous rate for additional loans against new IPs if you already have a loan with them (7.5% I think, instead of actual). Understand other banks are doing the same?
Was also thinking of going down the loans.com.au path, but not yet comfortable of doing this without a broker.
Ta,
Mancha
Rate question
Find the #1 Song on the Day You Were Born
This is loads of fun
Find the #1 Song on the Day You Were Born
http://ift.tt/1CCzTV0
My song is Where Did Our Love Go by The Supremes
What is yours?
Find the #1 Song on the Day You Were Born
http://ift.tt/1CCzTV0
My song is Where Did Our Love Go by The Supremes
What is yours?
Find the #1 Song on the Day You Were Born
Removable house moved to vacant block..
Selamat Siang from Indonesia,
Looking at evolving our strategy a little which to this point has been buy below market value houses on 600+ block that need serious renovations (only cosmetically) in good fundamentally driven markets. We renovate them, tenant, reval and repeat however looking at trying something slightly different on our next purchase
My question; have any other somersofters been through the process of buying a block and transporting a removable house there and creating a new dwelling that way?
If so,
1. Can you detail the timeframe (working with council and planning) to get it across the line
2. Associated costs (transport costs, planning, utilities reconnected, renovating any damage endured, etc)
3. How the numbers stacked up initially and upon reval
4. Would you do it again?
Cheers
Ben
Looking at evolving our strategy a little which to this point has been buy below market value houses on 600+ block that need serious renovations (only cosmetically) in good fundamentally driven markets. We renovate them, tenant, reval and repeat however looking at trying something slightly different on our next purchase
My question; have any other somersofters been through the process of buying a block and transporting a removable house there and creating a new dwelling that way?
If so,
1. Can you detail the timeframe (working with council and planning) to get it across the line
2. Associated costs (transport costs, planning, utilities reconnected, renovating any damage endured, etc)
3. How the numbers stacked up initially and upon reval
4. Would you do it again?
Cheers
Ben
Removable house moved to vacant block..
reno job that's going to option.. worth it?
jeudi 26 février 2015
firstly, i'm not going to proclaim to be great at renovations but im interested in this
area is good, potential is there
is it worth making an offer BEFORE it goes to auction?
area is good, potential is there
is it worth making an offer BEFORE it goes to auction?
reno job that's going to option.. worth it?
St George 5 yrs fixed
Did St George 5 yrs fixed rate just drop recently or have I been asleep? I vaguely remember it being 4.99 for a while and just noticed in the local branch an ad saying 4.49
St George 5 yrs fixed
Overseas buyers
HI
I was just wondering how do the chinese buy property here, when they are not Australian residents? I thought overseas investors were only able to buy a block of land or off the plan, so how can they already established properties?
Thanks Sue
I was just wondering how do the chinese buy property here, when they are not Australian residents? I thought overseas investors were only able to buy a block of land or off the plan, so how can they already established properties?
Thanks Sue
Overseas buyers
At what vacant level would you not buy in an area
Curious as to people's opinions as to at what level of vacant in an area wouldn't you buy .
Cliff
Cliff
At what vacant level would you not buy in an area
bought a Lazyboy
Worst idea ever. It is killing my back. I have even had the back changed to make it sit straighter but it doesnt help. Worse, it is comfortable when I sit in it, but even after only one hour sitting in it I wake up the next morning with backache which wears off during the day but gets worse and worse if I sit in it night after night. It is not my back or my bed as I am fine in other furniture. I took a long time to choose these chairs and had them made in white leather to match our decor so the thought of going looking again appals me. I have tried pillows in different areas, nothing helps. Lazyboy dont want to know about it. My husband doesnt have a problem with his. How would I find out what is wrong
bought a Lazyboy
Is this over the top
We are going away for 3 days, partner and I, leaving 17 year old on her own at home. Worried about leaving her on her own
Am I being over protective? She seems to be fine with this, not worried about being alone. Perhaps I have been watching too many crime shows.
Daughter no. 1 left home at 19 yo and very independent, went to uni worked at night in a pub, working till 3.00 am in the morning, I did worry about this too, perhaps this is normal.
Its a tough call for me trying to step back.
Mtr
Am I being over protective? She seems to be fine with this, not worried about being alone. Perhaps I have been watching too many crime shows.
Daughter no. 1 left home at 19 yo and very independent, went to uni worked at night in a pub, working till 3.00 am in the morning, I did worry about this too, perhaps this is normal.
Its a tough call for me trying to step back.
Mtr
Is this over the top
Transferring ownership
Hi everyone,
Does anyone have any thoughts or know the procedure to transfer the ownership of a property from a trust to an individuals name without a direct sale?
My example is that my dad current owns a property under a trust and wants to transfer the ownership to my individual name so I can use it as my PPOR.
*I just realised I post this under the wrong section, sorry!*
Ta.
Does anyone have any thoughts or know the procedure to transfer the ownership of a property from a trust to an individuals name without a direct sale?
My example is that my dad current owns a property under a trust and wants to transfer the ownership to my individual name so I can use it as my PPOR.
*I just realised I post this under the wrong section, sorry!*
Ta.
Transferring ownership
CG risk?
Hey guys. I am looking at buying my first IP max 350k. Im going after the buy, cosmetic reno and hold stratagie. I was just wondering, if say you purchased an investment property in a suburn you hoped would gain a large amount of CG due to future infustructure ect but gained little CG for whatever reasons. Would it be hard to move on to the next IP. What i mean is would the banks be likely to lend agian if you had the deposit?
Thanks
Thanks
CG risk?
IP student accomodation
First time poster here, but have been a lurker for a little while :)
have been looking for some time now at getting into the property market, there seems to be a number of purpose built student accommodation (4 br, 4 bathroom, 1 kitchen, 1 lounge etc)) near universities (in qld), one place that caught my eye has an asking price of $196,500, returning, after outgoings, $18,919 per year,
Looking at longer term investment
Thoughts ?
have been looking for some time now at getting into the property market, there seems to be a number of purpose built student accommodation (4 br, 4 bathroom, 1 kitchen, 1 lounge etc)) near universities (in qld), one place that caught my eye has an asking price of $196,500, returning, after outgoings, $18,919 per year,
Looking at longer term investment
Thoughts ?
IP student accomodation
An interesting read featuring our favourtite game -Monopoly
An interesting read featuring our favourtite game -Monopoly
OTP good stories and horror stories
Hello everyone,
Would anyone mind to share your (or your friends) good or bad experiences with OTP properties.
It would be interesting to know what went well, and what didn't. Which year was it and what location.
I will share here the story of one of my friends.
2006, South Melbourne. The apartment was build to specs, high quality, low body corporate.
2012, St Kilda. The project was delayed, apartment was build without a promised balcony, poor quality of the fittings causing numerous maintenance requests from tenant. Body corporate is too expensive around 4.5K + boiler fee.
He also purchased an OTP apartment in Camberwell a year ago, construction will commence in September, but he is now wondering, if he should release it, before it is too late.
Would anyone mind to share your (or your friends) good or bad experiences with OTP properties.
It would be interesting to know what went well, and what didn't. Which year was it and what location.
I will share here the story of one of my friends.
2006, South Melbourne. The apartment was build to specs, high quality, low body corporate.
2012, St Kilda. The project was delayed, apartment was build without a promised balcony, poor quality of the fittings causing numerous maintenance requests from tenant. Body corporate is too expensive around 4.5K + boiler fee.
He also purchased an OTP apartment in Camberwell a year ago, construction will commence in September, but he is now wondering, if he should release it, before it is too late.
OTP good stories and horror stories
Selling Townsville buying Adelaide
Hi All,
I am at the crossroads. Need some advice please. I have had a property at Douglas in Townsville for past 7 years. It is a really nice 4 bedroom house, former DHA , well maintained on a nice 650sm block. I bought it for $ 400K and I reckon I would be lucky to get $420K now. I have held it in the hope that it would bounce back to the boom period 2006-2007. ( yep, I bought at the top of the boom argh ). My rent has dropped from a high of $420 to $360 currently but I have had Zero vacancy.
Can anyone see Townsville picking up enough for me to continue to hold this property ? It is negative geared and I need to work our what I should do moving forward.
Do I bite the bullet and offload it and try another location, possibly Adelaide ?
The latest CG predications for Doulas QLD is :
Any advice is always appreciated.....
I am at the crossroads. Need some advice please. I have had a property at Douglas in Townsville for past 7 years. It is a really nice 4 bedroom house, former DHA , well maintained on a nice 650sm block. I bought it for $ 400K and I reckon I would be lucky to get $420K now. I have held it in the hope that it would bounce back to the boom period 2006-2007. ( yep, I bought at the top of the boom argh ). My rent has dropped from a high of $420 to $360 currently but I have had Zero vacancy.
Can anyone see Townsville picking up enough for me to continue to hold this property ? It is negative geared and I need to work our what I should do moving forward.
Do I bite the bullet and offload it and try another location, possibly Adelaide ?
The latest CG predications for Doulas QLD is :
- Median price
- $397,000
- Quarterly growth
- -0.50%
- 12-month growth
- 0.51%
- 3-year growth
- 2.45%
- 5-year growth
- -2.82%
- Average Annual Growth
- 4.00%
- Weekly median advertised rent
- $390
- Number of sales
- 120
- Gross rental yield
- 5.11%
- Days on market
- 70.99
Any advice is always appreciated.....
Selling Townsville buying Adelaide
a good tax agents fee
Hi,
How much should a good tax agent charge?
im at a delimma where i have a hopeless tax agent and i believe his charging top dollar.
I didnt even sign off on lodging the refund and i get a call today saying the cheque is waiting for me.
How much should a good tax agent charge?
im at a delimma where i have a hopeless tax agent and i believe his charging top dollar.
I didnt even sign off on lodging the refund and i get a call today saying the cheque is waiting for me.
a good tax agents fee
Let the hunt begin for an IP in Melbourne!!
mercredi 25 février 2015
Hey all!
The time has come to buy my next IP. I have been approved for $400k.
My strategy is to buy and hold and look to build equity through renovations to the existing dwelling and possibly look at a subdivision down the track - so looking for something over 600sqm at least.
My question is what areas are worth looking into in my price range? My options are obviously limited to outer suburbs, which of them is the safest bet in everyone's opinion?
I have considered Frankston as an option, there appears to be some new developments happening there with the train station and the sale prices of late appear to be really picking up compared with the last couple of years.
A friend of mine suggested I look into the North and West - specifically Tullamarine, Roxburgh Park, Craigieburn and Broadmedows. I'm very unfamiliar with those markets though having grown up in the South East region.
I'm very interested to hear what people's suggestions are on the suburbs mentioned as well as any others that may spring to mind..
The time has come to buy my next IP. I have been approved for $400k.
My strategy is to buy and hold and look to build equity through renovations to the existing dwelling and possibly look at a subdivision down the track - so looking for something over 600sqm at least.
My question is what areas are worth looking into in my price range? My options are obviously limited to outer suburbs, which of them is the safest bet in everyone's opinion?
I have considered Frankston as an option, there appears to be some new developments happening there with the train station and the sale prices of late appear to be really picking up compared with the last couple of years.
A friend of mine suggested I look into the North and West - specifically Tullamarine, Roxburgh Park, Craigieburn and Broadmedows. I'm very unfamiliar with those markets though having grown up in the South East region.
I'm very interested to hear what people's suggestions are on the suburbs mentioned as well as any others that may spring to mind..
Let the hunt begin for an IP in Melbourne!!
Close down Propery invest trust?
Hi does anybody know of any good reputable lawyers that are able to close down a hybrid property investment trust, it is a trust from chan and naylor that we no longer need. Thank you
Close down Propery invest trust?
Changing mindset from risk-averse to taking calculated risks
Hi all,
Recently I've been thinking about genetics and how my brain is wired. (In my family going back 2-3 generations, there is a clear anxious/OCD streak and also an ASD streak (autism spectrum disorder) - not saying necessarily the two things are linked, just saying that you can recognise the ones in my family who are anxious as clearly as you can recognise the ones who have ASD eg Aspergers. Similarly you can recognise the ones who didn't get either streak and are just chilled out, normal people :))
Whether it's nature or nurture, I definitely also have that anxiety about property investing which means I'm incredibly risk averse. It has definitely held me back in the past in not taking opportunities at the right time.
Anyway I recently sold in Sydney and intend to diversify into a couple of other capital cities in the next 18 months.
I've heard lots about how you can change your mindset - but I just wondered if anyone has been able to change their programming, in a way, because while I have the right mindset I seem to be constantly fighting the way my brain seems to think!
Recently I've been thinking about genetics and how my brain is wired. (In my family going back 2-3 generations, there is a clear anxious/OCD streak and also an ASD streak (autism spectrum disorder) - not saying necessarily the two things are linked, just saying that you can recognise the ones in my family who are anxious as clearly as you can recognise the ones who have ASD eg Aspergers. Similarly you can recognise the ones who didn't get either streak and are just chilled out, normal people :))
Whether it's nature or nurture, I definitely also have that anxiety about property investing which means I'm incredibly risk averse. It has definitely held me back in the past in not taking opportunities at the right time.
Anyway I recently sold in Sydney and intend to diversify into a couple of other capital cities in the next 18 months.
I've heard lots about how you can change your mindset - but I just wondered if anyone has been able to change their programming, in a way, because while I have the right mindset I seem to be constantly fighting the way my brain seems to think!
Changing mindset from risk-averse to taking calculated risks
NSW Pool Laws
And now common sense prevails. The tragic issues with pool safety do warrant some action. Appears the limitations on resale without costly certification is being wound back. I believe less than 5% of pool owners have registered their pools anyway.
http://ift.tt/18n04Tq
http://ift.tt/18n04Tq
NSW Pool Laws
Unit sinking funds calculation?
Hey all,
Just received my 6 monthly sinking fund bill in the mail and I'm not sure if I can justify the total. There's two sections to the payment, one is the admin fund and the sinking fund. The admin fund is nearly double the sinking fund!
So my question is, how much exactly should it be and what variables dictate the cost? Is it dependent on how much you bought the property for? How much the property is valued at now?
Many thanks
Just received my 6 monthly sinking fund bill in the mail and I'm not sure if I can justify the total. There's two sections to the payment, one is the admin fund and the sinking fund. The admin fund is nearly double the sinking fund!
So my question is, how much exactly should it be and what variables dictate the cost? Is it dependent on how much you bought the property for? How much the property is valued at now?
Many thanks
Unit sinking funds calculation?
suggest a few good custom home builders in sydney
Hello everyone
I have a block of land in McArthur heights in campbelltown sydney. I had a chat with few project home builders but their plan doesn't provide what I really want. I live in Melbourne and don't know any custom builders from the area.
Just Wondering if u can suggest a few good custom homebuilders .
Joe
I have a block of land in McArthur heights in campbelltown sydney. I had a chat with few project home builders but their plan doesn't provide what I really want. I live in Melbourne and don't know any custom builders from the area.
Just Wondering if u can suggest a few good custom homebuilders .
Joe
suggest a few good custom home builders in sydney
Older peoples borrowing power
Gday guys,
Family members have an issue coming up need to borrow some money. They are not investing or investors, PPOR only. It is needed for building repairs to their property.
With the following scenario how would they go borrowing ~$200k
Age: 58 x 2 married couple
PPOR: $1.2m
Current loan: ~$100k
They have plenty of equity available but what is the best way to get the cashola??
Would the loan serviceability be based on the remainder of their working life, is it up to retirement 65yrs?
Or can they just access their equity easily?
Family members have an issue coming up need to borrow some money. They are not investing or investors, PPOR only. It is needed for building repairs to their property.
With the following scenario how would they go borrowing ~$200k
Age: 58 x 2 married couple
PPOR: $1.2m
Current loan: ~$100k
They have plenty of equity available but what is the best way to get the cashola??
Would the loan serviceability be based on the remainder of their working life, is it up to retirement 65yrs?
Or can they just access their equity easily?
Older peoples borrowing power
Recommend draftsman/ arcitect Melbourne
Hi everyone,
I am after plans to build my PPOR and want the house designed in a modern/ colonial look. Can any body recommend me a good draftsman or architect that is reliable, patient and can work with my requirements? I am happy to spend a little more for the right person. I've called 3 drafting companies and not one phone call back.
I am located in Melbourne (West) but don't mind travelling for the right person.
Thanks in advance.
I am after plans to build my PPOR and want the house designed in a modern/ colonial look. Can any body recommend me a good draftsman or architect that is reliable, patient and can work with my requirements? I am happy to spend a little more for the right person. I've called 3 drafting companies and not one phone call back.
I am located in Melbourne (West) but don't mind travelling for the right person.
Thanks in advance.
Recommend draftsman/ arcitect Melbourne
Tax strategies towards end of FY
A few tax strategies I've seen towards the end of FY including paying interest in advance for a mortgage or for say a margin loan on shares. If this is paid late June it allows for a larger tax deduction offsetting tax payable in a few months. Has anyone looked at this or things similar and found it be beneficial?
Cheers.
Cheers.
Tax strategies towards end of FY
What's on your playlist - music
I just cant get enough music keep adding great songs?
I go from classic, rock, jazz, pop, pure aussie Rock, heavy m
Perhaps I can add some of your favs to my list:)
Mtr
I go from classic, rock, jazz, pop, pure aussie Rock, heavy m
Perhaps I can add some of your favs to my list:)
Mtr
What's on your playlist - music
Thoughts on Keswick, Adelaide.
Anyone looked into Keswick in Adelaide? 2.5 km from the city. Good yield on appartments. Close to shopping centre and train line? Pretty affordable. Apartments for low 200s.
Thoughts on Keswick, Adelaide.
Prime Minister Tony Abbott announces stricter rules for foreign property investors
SMH : New fees, fines for foreign property investors
[The scheme could raise about $200 million a year by charging foreign home-buyers $5,000 for properties valued under $1 million and an additional $10,000 for every additional $1 million, Treasurer Joe Hockey said on Wednesday.]
[Mr Hockey said a register of foreign nationals buying real estate would be established and those who break the law would face a fine up to a quarter of the value of the property and could be forced to sell.
These integrity measures are absolutely essential for reassuring Australians when they go to an auction they are on a level playing field, Mr Hockey said.]
[Australian property has long been a popular choice for Chinese money - both legitimate and illegitimate - but the flow of investment appears to have accelerated.
Australia's foreign investment review board says China was the No.1 source of foreign capital investment in real estate in 2013, approving nearly $6 billion of investment, up 41 per cent from a year ago.]
[They will be subject to discussion for four weeks before they are finalised.]
==============================================
Will this have any effect on the property market? looks like the coming month is gonna get very interesting, especially for Sydney / Melbourne market. 1/4 of property price fine followed by a force sell is gonna really hurt.
If there is a sudden surge in listings then we'll know there is a lot of rule flouting by "foreigners".
[The scheme could raise about $200 million a year by charging foreign home-buyers $5,000 for properties valued under $1 million and an additional $10,000 for every additional $1 million, Treasurer Joe Hockey said on Wednesday.]
[Mr Hockey said a register of foreign nationals buying real estate would be established and those who break the law would face a fine up to a quarter of the value of the property and could be forced to sell.
These integrity measures are absolutely essential for reassuring Australians when they go to an auction they are on a level playing field, Mr Hockey said.]
[Australian property has long been a popular choice for Chinese money - both legitimate and illegitimate - but the flow of investment appears to have accelerated.
Australia's foreign investment review board says China was the No.1 source of foreign capital investment in real estate in 2013, approving nearly $6 billion of investment, up 41 per cent from a year ago.]
[They will be subject to discussion for four weeks before they are finalised.]
==============================================
Will this have any effect on the property market? looks like the coming month is gonna get very interesting, especially for Sydney / Melbourne market. 1/4 of property price fine followed by a force sell is gonna really hurt.
If there is a sudden surge in listings then we'll know there is a lot of rule flouting by "foreigners".
Prime Minister Tony Abbott announces stricter rules for foreign property investors
Do you have Landlord Insurance?
mardi 24 février 2015
I am curious what % of investors insure their properties against Tenant defaults.
Do you have Landlord Insurance?
Concrete Slab in Melbourne?
Hi All,
Can anyone recommend someone they've used for Concrete Slabs in Melbourne? Hopefully someone who is good and competitive pricing.
TIA
Can anyone recommend someone they've used for Concrete Slabs in Melbourne? Hopefully someone who is good and competitive pricing.
TIA
Concrete Slab in Melbourne?
REA's vendor database
Not having bought a house for 16 years I am somewhat bemused at the antics of current agents on how they sell houses, I have learnt what BOO means, 'friendly auction' ? etc.
I have asked a couple of agents if they advertise all their listings - I was told the agency circulates listings to their database of buyers first so they can have first bite then, if no takers, they advertise the listing - armed with this info I am hoping it gives me a little more bargaining power :D
I have asked a couple of agents if they advertise all their listings - I was told the agency circulates listings to their database of buyers first so they can have first bite then, if no takers, they advertise the listing - armed with this info I am hoping it gives me a little more bargaining power :D
REA's vendor database
To avoid or not? LMI
Hi all,
Going to refinance my PPOR with a split secured loan.
Just wondering.
Buy 1 IP and avoid LMI
Buy 2 IP's and pay LMI on both?
Both IP's will aim to be slightly NG and will try turn them CF+ in 4-5 years.
Is the LMI even an issue?
Or should I just jump in?
I currently have one IP slightly neg
Still a massive L plater on investment!
Going to refinance my PPOR with a split secured loan.
Just wondering.
Buy 1 IP and avoid LMI
Buy 2 IP's and pay LMI on both?
Both IP's will aim to be slightly NG and will try turn them CF+ in 4-5 years.
Is the LMI even an issue?
Or should I just jump in?
I currently have one IP slightly neg
Still a massive L plater on investment!
To avoid or not? LMI
Converting study into third bedroom
Hi guys,
Just wanted your opinion if converting the study to a third bedroom would be worth it. Would be building a wall above the stairs and closing it off.
REA has said it would probably boost my rent by $30. However, this isn't the reason I'm doing this. It would be more for capital gains. I saw the bank's valuation on this and all comparisons were with other 2 bedroom townhouses.
If I convert this to a 3 bedder, I'm figuring it would bump up the value of the property quite nicely? Would like to pull equity in the next 1-2 years. Owner is moving out and will have to find tenants.
Concerns/considerations:
Some more pics:
All opinions appreciated! Thanks guys.
Just wanted your opinion if converting the study to a third bedroom would be worth it. Would be building a wall above the stairs and closing it off.
REA has said it would probably boost my rent by $30. However, this isn't the reason I'm doing this. It would be more for capital gains. I saw the bank's valuation on this and all comparisons were with other 2 bedroom townhouses.
If I convert this to a 3 bedder, I'm figuring it would bump up the value of the property quite nicely? Would like to pull equity in the next 1-2 years. Owner is moving out and will have to find tenants.
Concerns/considerations:
- Third bedroom has no access to toilet
- Stairwell will become dark
- Layout may be awkward in terms of functionality
- Would it lose appeal?
- As it's a townhouse will need strata approval
Some more pics:
All opinions appreciated! Thanks guys.
Converting study into third bedroom
Depreciation - How is it calculated?
As I understand (and I'm actually hoping I'm wrong), if i buy an existing house, build a granny flat, I can get a depreciation schedule done and its based on the build cost of the granny flat. The value of the land is ignored.
If I buy a brand new off the plan unit for $800k. What is the estimated depreciation on this? Is it based on the purchase price?
Surely this can't be the case because a large portion can be attributed to the land/location ?
If I buy a brand new off the plan unit for $800k. What is the estimated depreciation on this? Is it based on the purchase price?
Surely this can't be the case because a large portion can be attributed to the land/location ?
Depreciation - How is it calculated?
Depreciation - How is it calculated?
As I understand (and I'm actually hoping I'm wrong), if i buy an existing house, build a granny flat, I can get a depreciation schedule done and its based on the build cost of the granny flat. The value of the land is ignored.
If I buy a brand new off the plan unit for $800k. What is the estimated depreciation on this? Is it based on the purchase price?
Surely this can't be the case because a large portion can be attributed to the land/location ?
If I buy a brand new off the plan unit for $800k. What is the estimated depreciation on this? Is it based on the purchase price?
Surely this can't be the case because a large portion can be attributed to the land/location ?
Depreciation - How is it calculated?
Buying process in SA - same as NSW?
Hi all,
Never bought anything in SA before so I'm not 100% across on the process. Is it the same as NSW where:
1. Make an offer
2. If accepted, pay 0.025%
3. Do the usual B&P etc
4. Exchange contract, pay the balance of the 10% deposit
5. .....
6. Settlement
Have I missed anything?
Thanks :D
Never bought anything in SA before so I'm not 100% across on the process. Is it the same as NSW where:
1. Make an offer
2. If accepted, pay 0.025%
3. Do the usual B&P etc
4. Exchange contract, pay the balance of the 10% deposit
5. .....
6. Settlement
Have I missed anything?
Thanks :D
Buying process in SA - same as NSW?
Laminate flooring -
Looking to get laminate flooring installed in my kitchen/living area. It's 37m2 and would imagine it would be a fairly straight forward job.
Having no knowledge whatsoever of flooring and it's associated costs, would I better better off going through a flooring shop to have the job completed end to end (materials+ labour etc.) or try source the flooring myself and find a labourer to get the job done?
It's my PPOR so I wouldn't want bottom of the barrel quality flooring, but something that is somewhat economical while still looking reasonable (I'm looking for some value add so the ROI is a consideration). What kind of $/sqm rate would/should I be looking at?
Having no knowledge whatsoever of flooring and it's associated costs, would I better better off going through a flooring shop to have the job completed end to end (materials+ labour etc.) or try source the flooring myself and find a labourer to get the job done?
It's my PPOR so I wouldn't want bottom of the barrel quality flooring, but something that is somewhat economical while still looking reasonable (I'm looking for some value add so the ROI is a consideration). What kind of $/sqm rate would/should I be looking at?
Laminate flooring -
REA Dirty Tricks!
Hello SS,
I'd like to start a discussion about dirty tricks you've seen real estate agents use to try and push up prices etc.
I've dealt with one REA only so experience is limited but I did have an opportunity to see some dirty tricks! So far I'm enjoying the property game as it reminds me of a mixed game of poker and chess.
I presented an offer as discussed in another thread and told him we would not budge on price. We had the impression that the REA and vendor were desperate. At 21:27 last night I received an email from the REA saying the property was sold to a higher bidder. At 21:29 he called me to say the same thing "We cant disclose the amount right now but we can in due time *pause*".
At that time I gave him the Kthxbai and hung up. Calling the bluff on this one. So what have you seen? How did you identify the trick? What were some tells and how did you checkmate?
I'd like to start a discussion about dirty tricks you've seen real estate agents use to try and push up prices etc.
I've dealt with one REA only so experience is limited but I did have an opportunity to see some dirty tricks! So far I'm enjoying the property game as it reminds me of a mixed game of poker and chess.
I presented an offer as discussed in another thread and told him we would not budge on price. We had the impression that the REA and vendor were desperate. At 21:27 last night I received an email from the REA saying the property was sold to a higher bidder. At 21:29 he called me to say the same thing "We cant disclose the amount right now but we can in due time *pause*".
At that time I gave him the Kthxbai and hung up. Calling the bluff on this one. So what have you seen? How did you identify the trick? What were some tells and how did you checkmate?
REA Dirty Tricks!
Buying split level house Pennant hills
Hey guys we are looking at this split level house (930 sqm land with around 220sqm internal, 1980 brick veneer house) in pennant hills. half level down there is a rumpus ( with access to the courtyard), ground level a dinning room, bedroom, bathroom, kitchen, half level up a lounge ( with access to the courtyard) and another half level up 2 bedroom, retreat area and master room suites. We found that the lounge is a bit small but still acceptable. We are worried split level house has impact on the property price. We guess the price may go up to 1.18 milan auction . Any comments are welcome :)
Buying split level house Pennant hills
Landlord insurance
Which one is the best Landlord insurance, most of the insurance companies pay upto max 5K or two months rent default ,can anybody recommend any company which pays more than that, one of my tenants is behind 106 days today and still not vacating, getting a sheriff is again going to get him another 20 days ,pl. recommend
Landlord insurance
Investment rental property management software
Can you recommend a easy and simple Investment rental property management software to track rental statement from Management agents
Investment rental property management software
Mason Green - Piara Waters
Hi guys,
New, first time (no property owned).
I'll be honest, I'm making a snap decision here and I know wiith any investment things take time, so I'll ask you to not judge on that forefront (I get it - I'd slap someone taking a similar plunge into shares). But really, I saw the realse for a new estate in Piara Waters - Mason Green by Qube.
It's bordering mason road, wright road, armadale road (doesn't quite stretch to armadale). I am wondering firstly as a new investor, as a basic principle should one look at getting a smaller/average sized lot as a more affordable pricing point from a capital pov relative to rental, than blowing yourself out by getting a large sqm block (say 400+) that may be cheaper on a sqm basis? Would you get more back in terms of postive gearing or positive cash flow by starting smaller and building? Or does one run into problems trying to rent to aspiring families when going to small?
Secondly , what sq/m a lot pricing would one go for? What is reasonable? I did some calcs and many of the 300 to 400 something sqm blocks 680-760 $ /sqm.... not sure what the average is these days.
And lastly for the unitiated who have to make a decision in a few days, what would one look out for in a contract, or in terms of ensuring the land has no hidden nasties? I know, I know this is terribly unprepared... shares are my forte. Just looking for what advice one can give for someone with not much time to make a decision!
I'm only rushing as it's the first stage release... didn't want to potentially miss out in registering my preferences.. Thanks!
Any further links or books that I can quickly scoff down to get the basics into my head for investing/research and purchasing considerations would be much appreciated!!
APologies again for my tardiness... I am well aware! :( Thanks!
P.S. am I wrong to go by the guide of 1% rental income per week on the house price? So if i go for a $285,000 for around 375 sqm give or take, can I get a 3 or 4 bedroom house up and running on under 200k? To bring a total house and land of under 485,000? Assuming then unfurnished it could rent out at 1% roughly, say $450 (discounting slightly). Would this be an accurate representation when looking to invest?
And would 10m frontage be adequate for a modern 2 car garage out front these days?? Or does 10 m frontages really push design problems/costs up?
New, first time (no property owned).
I'll be honest, I'm making a snap decision here and I know wiith any investment things take time, so I'll ask you to not judge on that forefront (I get it - I'd slap someone taking a similar plunge into shares). But really, I saw the realse for a new estate in Piara Waters - Mason Green by Qube.
It's bordering mason road, wright road, armadale road (doesn't quite stretch to armadale). I am wondering firstly as a new investor, as a basic principle should one look at getting a smaller/average sized lot as a more affordable pricing point from a capital pov relative to rental, than blowing yourself out by getting a large sqm block (say 400+) that may be cheaper on a sqm basis? Would you get more back in terms of postive gearing or positive cash flow by starting smaller and building? Or does one run into problems trying to rent to aspiring families when going to small?
Secondly , what sq/m a lot pricing would one go for? What is reasonable? I did some calcs and many of the 300 to 400 something sqm blocks 680-760 $ /sqm.... not sure what the average is these days.
And lastly for the unitiated who have to make a decision in a few days, what would one look out for in a contract, or in terms of ensuring the land has no hidden nasties? I know, I know this is terribly unprepared... shares are my forte. Just looking for what advice one can give for someone with not much time to make a decision!
I'm only rushing as it's the first stage release... didn't want to potentially miss out in registering my preferences.. Thanks!
Any further links or books that I can quickly scoff down to get the basics into my head for investing/research and purchasing considerations would be much appreciated!!
APologies again for my tardiness... I am well aware! :( Thanks!
P.S. am I wrong to go by the guide of 1% rental income per week on the house price? So if i go for a $285,000 for around 375 sqm give or take, can I get a 3 or 4 bedroom house up and running on under 200k? To bring a total house and land of under 485,000? Assuming then unfurnished it could rent out at 1% roughly, say $450 (discounting slightly). Would this be an accurate representation when looking to invest?
And would 10m frontage be adequate for a modern 2 car garage out front these days?? Or does 10 m frontages really push design problems/costs up?
Mason Green - Piara Waters
Buying structure for a joint venture purchase
Hi all,
Me and my friend are looking at buying an investment property. We do this because we both like the property but each of us alone cannot afford it. However we are not quite sure which is the best structure to use for this purchase. If you are well versed in this area, please kindly drop a few comments to help. Our situation is as follows:
Property: value around $1.5mil, rental will be around $1300 a week so at a fixed interest only rate of 4.6% it will be slightly positive cash flow at 80% gearing or slightly negative cash flow at 100%.
Me: work for myself, having a good income owning other investment properties so land tax is a consideration
My friend: first time investor, never owns a property and would like to keep his first home buyer status
We are looking at both buying in our individual names with 50/50 shares (tenants in common) or a property trust. Our priority is a flexibility of the structure (just in case one of us decides to opt out some time in the future),
and tax implication for each member.
I am not quite sure whether I have shared enough information for an expert in this forum to point me to the right direction so feel free to question me further
Much appreciate your assistance in advance
CL
Me and my friend are looking at buying an investment property. We do this because we both like the property but each of us alone cannot afford it. However we are not quite sure which is the best structure to use for this purchase. If you are well versed in this area, please kindly drop a few comments to help. Our situation is as follows:
Property: value around $1.5mil, rental will be around $1300 a week so at a fixed interest only rate of 4.6% it will be slightly positive cash flow at 80% gearing or slightly negative cash flow at 100%.
Me: work for myself, having a good income owning other investment properties so land tax is a consideration
My friend: first time investor, never owns a property and would like to keep his first home buyer status
We are looking at both buying in our individual names with 50/50 shares (tenants in common) or a property trust. Our priority is a flexibility of the structure (just in case one of us decides to opt out some time in the future),
and tax implication for each member.
I am not quite sure whether I have shared enough information for an expert in this forum to point me to the right direction so feel free to question me further
Much appreciate your assistance in advance
CL
Buying structure for a joint venture purchase
Buying on Sunshine Coast?
Still a good time to buy on the Sunny Coast or has the boat gone?
Buying on Sunshine Coast?
Seperation of 2 Dwellings and Zero Lot Housing
Just spoke to my council in relation to a detached dual occupancy and they mentioned they dont care how close the two properties are as long as they meet BCA codes.
Im not too familiar with these codes but from i have read it I understand it is 1.8 metres unless fire rated materials are used?
What's the deal with Zero lot housing then? Usually its just the garage that extends out without any windows. As its a brick wall would this be fire rated? Also does this mean that the garage can be built on the boundary, or the eaves can go upto the boundary?
Thanks
Im not too familiar with these codes but from i have read it I understand it is 1.8 metres unless fire rated materials are used?
What's the deal with Zero lot housing then? Usually its just the garage that extends out without any windows. As its a brick wall would this be fire rated? Also does this mean that the garage can be built on the boundary, or the eaves can go upto the boundary?
Thanks
Seperation of 2 Dwellings and Zero Lot Housing
Painter and carpenter in north Brisbane
Hi,
I am looking to get a cheap and reliable painter and carpenter for the Redcliffe area, does anyone have any recommendations?
Basically looking to get 1 coat of paint to freshen up and to rebuild some stairs which will fall down due to rot.
Cheers,
I am looking to get a cheap and reliable painter and carpenter for the Redcliffe area, does anyone have any recommendations?
Basically looking to get 1 coat of paint to freshen up and to rebuild some stairs which will fall down due to rot.
Cheers,
Painter and carpenter in north Brisbane
Thoughts: Wollongong/Gosford
Hi There,
Whats everyones thoughts on investing in Wollongong or Gosford? im looking to buy a unit atm and trying to work out whether my money is better spend in a regional hub then in Sydneys West.
I know they are reducing the size of the steel mill in Wollongong but have heard they are creating employment in other areas.
Also IF(big IF) this high speed rail goes in id say we will be seeing some rather large CG increases in both these areas.
Just fishing for opinions and any info as im not too familiar with these areas.
Cheers
Whats everyones thoughts on investing in Wollongong or Gosford? im looking to buy a unit atm and trying to work out whether my money is better spend in a regional hub then in Sydneys West.
I know they are reducing the size of the steel mill in Wollongong but have heard they are creating employment in other areas.
Also IF(big IF) this high speed rail goes in id say we will be seeing some rather large CG increases in both these areas.
Just fishing for opinions and any info as im not too familiar with these areas.
Cheers
Thoughts: Wollongong/Gosford
Leaky shower bases - how to avoid this problem for good
lundi 23 février 2015
Hi everyone,
Over the years I've had problems with leaky shower bases. The story is the same, the waterproof membrane has failed and it's around $4 grand to rip out and re-tile and insurance will not cover it (or go the $400 'Megasealed' band-aid). It also causes tenant, PM and landlord hassle.
This happens on 5-7 year old properties as well as 50 year old properties. What is going wrong here? Is it due to bad workmanship or just a design flaw in tiled bases?
How do we as investors avoid this problem?
Is it possible / worth converting to a single piece shower base?
David.
Over the years I've had problems with leaky shower bases. The story is the same, the waterproof membrane has failed and it's around $4 grand to rip out and re-tile and insurance will not cover it (or go the $400 'Megasealed' band-aid). It also causes tenant, PM and landlord hassle.
This happens on 5-7 year old properties as well as 50 year old properties. What is going wrong here? Is it due to bad workmanship or just a design flaw in tiled bases?
How do we as investors avoid this problem?
Is it possible / worth converting to a single piece shower base?
David.
Leaky shower bases - how to avoid this problem for good
Where/How to keep up with laws and property rights?
Hi All
I am wondering how people stay up-to-date with changes to property legislation.
For example, if you are a landlord, would the government send you information about changes to tenancy laws or do you find out what you need some other way?
Are there information sites or groups you would recommend ( apart from this site of course)?
Is there anything free you can join?
Cheers and thanks in advance.:)
I am wondering how people stay up-to-date with changes to property legislation.
For example, if you are a landlord, would the government send you information about changes to tenancy laws or do you find out what you need some other way?
Are there information sites or groups you would recommend ( apart from this site of course)?
Is there anything free you can join?
Cheers and thanks in advance.:)
Where/How to keep up with laws and property rights?
Loan Structure Advice Needed
Hi all, looking for some advice on loan structuring. Will try explain as best I can;
IP:1
- Purchase price 2011 - $370k
- Current loan at $304k (80% LVR)
- Previous bank val came back at $380k in Jan 2014.
- Current market value - $440-$450k based on comparable sales and discussion with trusted local agent.
IP: 2
- Current PPOR while renovating
- Aiming to have completed by end of 2015 with hope of next val coming back around the $620-640k mark.
- Purchase price 2014 - $525k
- Current loan at $412k
- Current market value- $550-$580k based on comparable sales.
- $28k redraw + monthly savings available to fund reno's. (kitchen, 2 x bathrooms, new deck, paint etc etc.)
If I was to have IP:1 revalued and achieve figure of around $420K, (to my understanding bank vals can often be conservative in comparison to market value) would there be an option to push LVR back upto 80% (loan amount $336K) and bring pay the PPOR debt down as it is non deductible?
I am still undecided as to whether the property will remain PPOR or return to IP after renovations as I have plans to subdivide and build on the rear of block (STCA).
Fixed portion of loans is in locked in until approx mid next year.
I plan to discuss with my broker shortly but interested to get some alternate advice beforehand.
Cheers
IP:1
- Purchase price 2011 - $370k
- Current loan at $304k (80% LVR)
- Previous bank val came back at $380k in Jan 2014.
- Current market value - $440-$450k based on comparable sales and discussion with trusted local agent.
IP: 2
- Current PPOR while renovating
- Aiming to have completed by end of 2015 with hope of next val coming back around the $620-640k mark.
- Purchase price 2014 - $525k
- Current loan at $412k
- Current market value- $550-$580k based on comparable sales.
- $28k redraw + monthly savings available to fund reno's. (kitchen, 2 x bathrooms, new deck, paint etc etc.)
If I was to have IP:1 revalued and achieve figure of around $420K, (to my understanding bank vals can often be conservative in comparison to market value) would there be an option to push LVR back upto 80% (loan amount $336K) and bring pay the PPOR debt down as it is non deductible?
I am still undecided as to whether the property will remain PPOR or return to IP after renovations as I have plans to subdivide and build on the rear of block (STCA).
Fixed portion of loans is in locked in until approx mid next year.
I plan to discuss with my broker shortly but interested to get some alternate advice beforehand.
Cheers
Loan Structure Advice Needed
Liability of dead tree hanging over next door
I have a property with a large tree on it, its been dead for yonks,
neighbours have decided to pressure/hassle/scare/convince/collude the new tenants (it hasnt been a problem before) that if the branches fell and hurt their kids the landlord is responsible,
as its a large tree its very expensive to remove plus the location isnt great,
what are the general legal implications of the whole situation?
neighbours have decided to pressure/hassle/scare/convince/collude the new tenants (it hasnt been a problem before) that if the branches fell and hurt their kids the landlord is responsible,
as its a large tree its very expensive to remove plus the location isnt great,
what are the general legal implications of the whole situation?
Liability of dead tree hanging over next door
Commercial lease format NSW v VIC
In NSW leases for small offices/warehouse where the term is lease then 3 years are often completed by the agent using an REI commercial lease commonly referred to as a ?yellow lease?.
I assume the equivalent in Victoria is an REIV version.
Some questions regarding the VIC version
- Does the restriction of agents only being able to prepare a lease of less then 3 years apply in VIC?
- Does anyone have a sample of an REIV commercial lease?
- Are there common lease preparation fee being charged by agents for commercial leases in Victoria?
Thanks for any feedback.
I assume the equivalent in Victoria is an REIV version.
Some questions regarding the VIC version
- Does the restriction of agents only being able to prepare a lease of less then 3 years apply in VIC?
- Does anyone have a sample of an REIV commercial lease?
- Are there common lease preparation fee being charged by agents for commercial leases in Victoria?
Thanks for any feedback.
Commercial lease format NSW v VIC
Your ideal development site
Hey All,
I am currently putting together a due diligence document for myself for selecting the ideal development site and was keen to get peoples thoughts.
But further to that I am also keen to put notes for other things to look out for (council surprises, finance surprises .etc).
I am in the process of my first subdivision and have already learnt so much! Safe to say I would not have selected my site if I had my time again (sloping to the rear, no stormwater).
I have also learn a lot about councils and how they work (or don't work to be more accurate). Things such as neighborhood character guidelines, traffic, engineering.etc.
I would also love feedback from others who have developed before and any tips they have to streamline the process, reduce costs and time.etc
Thanks in advance!
I am currently putting together a due diligence document for myself for selecting the ideal development site and was keen to get peoples thoughts.
But further to that I am also keen to put notes for other things to look out for (council surprises, finance surprises .etc).
I am in the process of my first subdivision and have already learnt so much! Safe to say I would not have selected my site if I had my time again (sloping to the rear, no stormwater).
I have also learn a lot about councils and how they work (or don't work to be more accurate). Things such as neighborhood character guidelines, traffic, engineering.etc.
I would also love feedback from others who have developed before and any tips they have to streamline the process, reduce costs and time.etc
Thanks in advance!
Your ideal development site
Air con semi broken
Hi all,
My tenants reported a broken air con.
Upon inspection it seems one of the internals is malfunctioning and the only way to turn the unit on and off is at the power switch board.
They can still use the air con but have to go outside to turn it on and off.
The unit is at least 20 years old and seems unlikely to get it repaired.
Is it a must for me to replace this unit or can I leave it as is?
Just wondering what to do here. A brand new air con will cost around a $1000 mark plus labour.
Any advice?
Thanks
My tenants reported a broken air con.
Upon inspection it seems one of the internals is malfunctioning and the only way to turn the unit on and off is at the power switch board.
They can still use the air con but have to go outside to turn it on and off.
The unit is at least 20 years old and seems unlikely to get it repaired.
Is it a must for me to replace this unit or can I leave it as is?
Just wondering what to do here. A brand new air con will cost around a $1000 mark plus labour.
Any advice?
Thanks
Air con semi broken
Suburb review requested
Hello,
I am considering my first IP interstate and potentially in QLD.
How do you guys rate following suburbs on the scale of 1 to 5 , where 1 being not-recommended and 5 being highly recommended suburb for IP.
Suburbs:
Thanks in advance
Cheers
Ozitzen
I am considering my first IP interstate and potentially in QLD.
How do you guys rate following suburbs on the scale of 1 to 5 , where 1 being not-recommended and 5 being highly recommended suburb for IP.
Suburbs:
- Fortitude valley
- Kangaroo Point
- Woollangabba
- Westend
- Kedron
- Chermside
- Carina heights
Thanks in advance
Cheers
Ozitzen
Suburb review requested
Quantity surveyor? Can you recommend anyone?
SS friends!
Can anyone recommend a quantity surveyor/ project construction estimates group Sydney side?
Medium size developments located on the Sydney fringe, ideally looking to build a long term relationship adding this valuable consultant to the team :)
Im sure there has been other threads on the subject, however figured up to date info is always better!
Any input is appreciated!
Many thanks
Can anyone recommend a quantity surveyor/ project construction estimates group Sydney side?
Medium size developments located on the Sydney fringe, ideally looking to build a long term relationship adding this valuable consultant to the team :)
Im sure there has been other threads on the subject, however figured up to date info is always better!
Any input is appreciated!
Many thanks
Quantity surveyor? Can you recommend anyone?
Growth In Byford WA
I have a property in Byford and have about 80-100k give or take in equity. My buyers agent is suggesting sell my property in Byford and buy in Melbourne because I can't meet the serviceabilitiy for the banks. It was a land and package deal 560sq block.
I would like to know what everyones thoughts on Byford are.
I would like to know what everyones thoughts on Byford are.
Growth In Byford WA
Cashflow Positive Template
Hi everyone, been away for 1.5 months but trying to get back into things. I was just wondering if any of you excel gurus have a spreadsheet to calculate cashflow after plug all the required cost?
Cheers,
Dex
Cheers,
Dex
Cashflow Positive Template
It would be great if we could share our answers in social media.
As an example: Quora has a fantastic way to share answers to questions on 5+ social media sites with the click of a button. I can also share my answers as a post in my Wordpress site which enables me to have more exposure personally and it helps quora receive many more visits from each person's network of followers.
It would be great for you to have a look at that and find a way to implement it.
Kind regards,
It would be great for you to have a look at that and find a way to implement it.
Kind regards,
It would be great if we could share our answers in social media.
Rocky, Yeppoon, CQ Qld... too soon??
Are there likely to be a flood of properties hit the market after cyclone Marcia tearing through?
I know there are still a lot of properties without power and severe damage but after the Brisbane floods and other natural disasters is there a lot of properties for sale shortly after or is more a case by case situation?
It's not a great time to buy in rocky anyway I'd think with work slowing in the region but is there potential to get a bargain with some minor work? Yeppon would be nice to live but there is no work and mostly holiday hoses .
I know there are still a lot of properties without power and severe damage but after the Brisbane floods and other natural disasters is there a lot of properties for sale shortly after or is more a case by case situation?
It's not a great time to buy in rocky anyway I'd think with work slowing in the region but is there potential to get a bargain with some minor work? Yeppon would be nice to live but there is no work and mostly holiday hoses .
Rocky, Yeppoon, CQ Qld... too soon??
Where to buy out of these 2?
This should be a quick one. Any advice will be greatfully received
Strategy - all in place. Am looking solely for capital growth here. Don't mind if I'm slightly negatively geared. Saying that am definitely looking for a house on 600 sqm+. I've looked about everywhere and have come down to more or less 2 areas:
Mount Gravatt/Sunnybank (Brisbane) - $550ish
Brisbane's all the rage right now but am mindful I'm a year too late
or
Semaphore/Exeter (Adelaide) - $500ish
Only place in a capital city in Aus that you can get a house close to the beach and 20 mins to the city for $500k. Maybe I'm wrong but I haven't found much else
Pound for pound which do you think will go up most in the next 2 years?
Thanks!
Strategy - all in place. Am looking solely for capital growth here. Don't mind if I'm slightly negatively geared. Saying that am definitely looking for a house on 600 sqm+. I've looked about everywhere and have come down to more or less 2 areas:
Mount Gravatt/Sunnybank (Brisbane) - $550ish
Brisbane's all the rage right now but am mindful I'm a year too late
or
Semaphore/Exeter (Adelaide) - $500ish
Only place in a capital city in Aus that you can get a house close to the beach and 20 mins to the city for $500k. Maybe I'm wrong but I haven't found much else
Pound for pound which do you think will go up most in the next 2 years?
Thanks!
Where to buy out of these 2?
City of Canning - Engineering Department
I would be interested to hear from anyone that has had dealings with the City of Canning (in particular the Engineering Department).
City of Canning - Engineering Department
IP value basics
dimanche 22 février 2015
Hi everyone!
New to the forum, and so glad I found it.
So many knowledgeable and helpful people on here.
Question: I have owned my investment property for 2 years.
4bd 2car 2 bath 700sq block built 2008 good solid house.
For additions and tenant happiness what would you do( in order)
1) garden is rough/overgrown tidy it?
2) insulation
3) ceiling fans( it has aircon in lounge only)
4) outdoor area(with roof) to entertain( they currently sit outside on the grass in the sun)
In order to sneak the rent up a tad, what would be the thing to do, also wouldnt mind adding capital either!:)
New to the forum, and so glad I found it.
So many knowledgeable and helpful people on here.
Question: I have owned my investment property for 2 years.
4bd 2car 2 bath 700sq block built 2008 good solid house.
For additions and tenant happiness what would you do( in order)
1) garden is rough/overgrown tidy it?
2) insulation
3) ceiling fans( it has aircon in lounge only)
4) outdoor area(with roof) to entertain( they currently sit outside on the grass in the sun)
In order to sneak the rent up a tad, what would be the thing to do, also wouldnt mind adding capital either!:)
IP value basics
Do you think IKEA affects property prices?
Hey All,
Just interested to get peoples thoughts on whether they believe an IKEA store has any affect on a suburbs property prices?
A number of investors on this forum said they like to invest where the big retailers do and leverage of the huge sums of cash they put into research. When it comes to retail, I do not think there is any bigger than IKEA. I mean they are not like Bunnings after all where you nearly have one in every suburb, in Melbourne for example this is the 3rd store only. One in the East, One central and now one for the West.
Given the amount of customers that flock to these stores, it seems only natural other businesses would be keen to set-up shop nearby and take advantage of the endless stream of money that seems to pour into these stores (doesn't help they design them so you cannot get out!).
Canberra it set to get its first Ikea at the end of this year and Melbourne's West (Camberfield) is on track for a mega concept store early next year.
Just interested to get peoples thoughts on whether they believe an IKEA store has any affect on a suburbs property prices?
A number of investors on this forum said they like to invest where the big retailers do and leverage of the huge sums of cash they put into research. When it comes to retail, I do not think there is any bigger than IKEA. I mean they are not like Bunnings after all where you nearly have one in every suburb, in Melbourne for example this is the 3rd store only. One in the East, One central and now one for the West.
Given the amount of customers that flock to these stores, it seems only natural other businesses would be keen to set-up shop nearby and take advantage of the endless stream of money that seems to pour into these stores (doesn't help they design them so you cannot get out!).
Canberra it set to get its first Ikea at the end of this year and Melbourne's West (Camberfield) is on track for a mega concept store early next year.
Do you think IKEA affects property prices?
Make company startup costs deductible with LOC?
Hi,
I have searched the forum without any luck.
I am in the process of setting up a company as a side project to my current job. As there are costs in doing so, I want to be able to make these costs deductible from Day 1. Things like accountant fees, lawyers, etc etc.
As I'd prefer to not use any of my own post-tax money to do so, can I get a LOC and pay for everything for this new company?
Cheers
I have searched the forum without any luck.
I am in the process of setting up a company as a side project to my current job. As there are costs in doing so, I want to be able to make these costs deductible from Day 1. Things like accountant fees, lawyers, etc etc.
As I'd prefer to not use any of my own post-tax money to do so, can I get a LOC and pay for everything for this new company?
Cheers
Make company startup costs deductible with LOC?
One of those spec houses down the road from me sold
Mentioned in this thread:
http://ift.tt/1DI7jC4
I had a wander through on Saturday before the auction. They packed a lot onto that piece of land. The finish inside was great. Not my style, but really well built.
http://ift.tt/1DI7jC7
Sold for $1.8m.
So the land had been held by the family forever - old Greek family. They would own other stuff around the suburb, too. There would have been some cost savings in building two identical houses, but they would have been an expensive build. I think the family have kept one and are renting it out.
Scott
http://ift.tt/1DI7jC4
I had a wander through on Saturday before the auction. They packed a lot onto that piece of land. The finish inside was great. Not my style, but really well built.
http://ift.tt/1DI7jC7
Sold for $1.8m.
So the land had been held by the family forever - old Greek family. They would own other stuff around the suburb, too. There would have been some cost savings in building two identical houses, but they would have been an expensive build. I think the family have kept one and are renting it out.
Scott
One of those spec houses down the road from me sold
Buying two bedder in Hornsby Area
Hi all, I am looking to buy my first home (apartment) in Hornsby area. So far I have seen few old apartments in Waitara and also considering off the plan in Asquith. In Asquith, 2 bedder is selling OTP for $690k for 115sqm (85 Internal + 30 Balcony). The property comes with single car space and is not too far from the train station and Coles supermarket.
Can someone shed some light whether $690k is a reasonable price for Asquith? I will live in this unit for at least 10-15 years with my partner and a baby who is currently 6 month young. I like the area but bit anxious & don't want to overpay.
Can someone shed some light whether $690k is a reasonable price for Asquith? I will live in this unit for at least 10-15 years with my partner and a baby who is currently 6 month young. I like the area but bit anxious & don't want to overpay.
Buying two bedder in Hornsby Area
Advice on situation and putting together a financial team
Hi,
Just looking to get some feedback and advice on my current financial situation. I purchased a 2 bedroom apartment in Adelaide, Keswick for $227 500 in 2008. In that time I have spent roughly 15k on a reno. I have a loan for 190k on it at the moment and I rent it out at $275 per week. Its been revalued at $245k .It is 50m2.
My current situation
Im working on the Inpex Ichtys project in Darwin. My partner and I have bought a 2 bedroom apartment at Coconut Grove which is our ppor in 2013 for $457 000 . At the moment we currently have a loan of 449 k on it. Im earning 180 k a year and have 55k in savings in an offset account.
My 1st question is what to do with the Keswick property? It has shown pretty poor growth since I have bought it which has surprised me. It is 2.5 k from the city. 2 min walk to the train station (which is the last stop before Adelaide central). It has a solid yield and I am hearing reports that Adelaide is on the recovery but I am starting to wonder whether my money would be spent better elsewhere due to the poor growth and I am starting to run out of patience with it. We intend on staying in Darwin for the life of the Inpex project which will be complete by late 2016/2017. We are looking at relocating to the Sunshine Coast after this and will decide whether to hold onto the Coconut Grove apartment or sell it in the next 18 months to 2 yrs.
Secondly I'm looking at putting a team together e.g., broker, financial adviser accountant etc. that can monitor and provide a more thorough analysis of my situation and provide ongoing advice. Any suggestions or recommendations would be greatly appreciated!
Thanks
Dangle
Just looking to get some feedback and advice on my current financial situation. I purchased a 2 bedroom apartment in Adelaide, Keswick for $227 500 in 2008. In that time I have spent roughly 15k on a reno. I have a loan for 190k on it at the moment and I rent it out at $275 per week. Its been revalued at $245k .It is 50m2.
My current situation
Im working on the Inpex Ichtys project in Darwin. My partner and I have bought a 2 bedroom apartment at Coconut Grove which is our ppor in 2013 for $457 000 . At the moment we currently have a loan of 449 k on it. Im earning 180 k a year and have 55k in savings in an offset account.
My 1st question is what to do with the Keswick property? It has shown pretty poor growth since I have bought it which has surprised me. It is 2.5 k from the city. 2 min walk to the train station (which is the last stop before Adelaide central). It has a solid yield and I am hearing reports that Adelaide is on the recovery but I am starting to wonder whether my money would be spent better elsewhere due to the poor growth and I am starting to run out of patience with it. We intend on staying in Darwin for the life of the Inpex project which will be complete by late 2016/2017. We are looking at relocating to the Sunshine Coast after this and will decide whether to hold onto the Coconut Grove apartment or sell it in the next 18 months to 2 yrs.
Secondly I'm looking at putting a team together e.g., broker, financial adviser accountant etc. that can monitor and provide a more thorough analysis of my situation and provide ongoing advice. Any suggestions or recommendations would be greatly appreciated!
Thanks
Dangle
Advice on situation and putting together a financial team
Heritage listed home - Ryde council HELP
Hello,
Have any one here owns a heritage home and dealt with Ryde Council?
looking to buy in Ryde IP and found that the property is heritage listed.
the land is quite large and wanted to extend but not sure how difficult it is with council.
Could you please also let me know if there is a heritage consultant and architect and town planner that knows ryde council heritage requirements?
thanks
BG
Have any one here owns a heritage home and dealt with Ryde Council?
looking to buy in Ryde IP and found that the property is heritage listed.
the land is quite large and wanted to extend but not sure how difficult it is with council.
Could you please also let me know if there is a heritage consultant and architect and town planner that knows ryde council heritage requirements?
thanks
BG
Heritage listed home - Ryde council HELP
Electrician , Internet and TV cabling . Who ?
We need to get an electrician in to move a couple of power points .
We also need to get a TV arial connected to a couple of rooms as well as having our new Optus cable connection connected to different rooms as the wifi modem isn't matching the performance in the other end of the house.
Will an electrician do all of this or are we better to get an arial guy and would they also do the Internet cabling .
Which is the current best internet cable ?
Cliff
We also need to get a TV arial connected to a couple of rooms as well as having our new Optus cable connection connected to different rooms as the wifi modem isn't matching the performance in the other end of the house.
Will an electrician do all of this or are we better to get an arial guy and would they also do the Internet cabling .
Which is the current best internet cable ?
Cliff
Electrician , Internet and TV cabling . Who ?
Can I deduct interest payments in this situation?
I've probably created a mess here... not sure.
4 properties in total.
I refinanced one IP so went from borrowing $336 000 to $432 000
I used that $96 000 to add 4 bedrooms to my PPOR which I rent out for $660 pw.
Can I deduct the interest paid on that $96 000 against one of my property's rental incomes?
Second question.
If I was to refinance my PPOR, pull $80 000 out of that, and then spend that to put a house on a block of land and keep it as a IP rental, could I deduct the interest paid on that $80 000 from the rental income for that IP?
Thanks.
4 properties in total.
I refinanced one IP so went from borrowing $336 000 to $432 000
I used that $96 000 to add 4 bedrooms to my PPOR which I rent out for $660 pw.
Can I deduct the interest paid on that $96 000 against one of my property's rental incomes?
Second question.
If I was to refinance my PPOR, pull $80 000 out of that, and then spend that to put a house on a block of land and keep it as a IP rental, could I deduct the interest paid on that $80 000 from the rental income for that IP?
Thanks.
Can I deduct interest payments in this situation?
Investment bonds for kids?
I know this isn't the right space for this post, but hoping someone can help out.
I just read the Barefoot Investor's last post. It was talking about putting money aside for your kids. It said
"I?d suggest you open up an investment bond in your daughter?s name, which you can do without a tax file number. You can choose your investment option within the bond (choose Aussie shares with low fees), and you can continue your monthly savings plan, even easier, you can automate it. After 10 years the bond is capital gains tax free."
I currently put money for my son into a kids savings account. How do I set up/get one of these investment bonds? I don't know where to start.
I just read the Barefoot Investor's last post. It was talking about putting money aside for your kids. It said
"I?d suggest you open up an investment bond in your daughter?s name, which you can do without a tax file number. You can choose your investment option within the bond (choose Aussie shares with low fees), and you can continue your monthly savings plan, even easier, you can automate it. After 10 years the bond is capital gains tax free."
I currently put money for my son into a kids savings account. How do I set up/get one of these investment bonds? I don't know where to start.
Investment bonds for kids?
Kingston / Logan Area
samedi 21 février 2015
I know there's multiple threads on this but I created this one to answer questions that hopefully have not been asked or answered.
Before I ask just thought i would outline my goals.
After an investment that is cash flow positive (well neutral to minor negative at first is not a big deal).
I do have a development site in Sydney and am looking for another small one in Sydney. I do not see myself buying and holding anything in Sydney at this stage (The areas i can afford do not appeal to me in the current market conditions and the areas in Sydney that do appeal to me to, either i cannot afford or it would have major impacts on my ability to develop blocks in Sydney).
My income is not that high so usually with most development opportunities serviceability is my main issue. So i would like to gain passive income over the future hence cashflow is the main motive with this investment. CG is also a factor but is secondary to cash flow.
Why I am inquiring into Kingston/Logan - seems to have properties that are close to neutral gearing, looks like once the draft plans come into action there will secondary dwellings which will allow decent positive gearing. Seems like a low value investment - so risk and amount of equity (which would be used to service developments) are minimal.
From what i have read these areas are of lower social economics. 2770 equivalence of Sydney. Also bogan community (from Bogan Hunters). When i visited the area a few weeks ago found it to be more of an ethnic community (more of recent migrants). Didn't see to many bogans although i did visit on a Sunday (around Midday and not go inside the pub) so maybe they were all hungover from Saturday night lol.
Question)
Whats the ethnicity diversion like? I seemed to see quiet a few Indian/Bangladesh/Pakistan origin and quiet a few of African origin. Are the numbers from these backgrounds increasing (over the past few years). From the internet reading it gives more of an idea it is a Caucasian area with the next ethnicity being Islanders and Aboriginals.
Question)
Reading one of the treads i seemed to get the idea that dual livings already existed with the downstairs converted to a secondary residence, although as of current laws that these had to leased as one lease. It was usually migrants that were interested as they had larger families or consisted of 2 related families that would lease together. Would anyone have any experience/thoughts/opinion of the paragraph.
Question)
What's the difference of living closer to a railway station or not in terms of demand. How important is Kingston or Logan Central station to residents of the area. Also are the houses closer to station (e.g eastern side of Kingston such as Clair Rd) less disarable than the western side of Kingston? And do the houses that are near the station attract a certain type of people?
Quick Questions) Would anyone be able to quickly share the costs of their outgoings on a rental property in the area? (I know its probably out there on the site already)
Any reply on the questions or thoughts would be appreciated
Thanks
Before I ask just thought i would outline my goals.
After an investment that is cash flow positive (well neutral to minor negative at first is not a big deal).
I do have a development site in Sydney and am looking for another small one in Sydney. I do not see myself buying and holding anything in Sydney at this stage (The areas i can afford do not appeal to me in the current market conditions and the areas in Sydney that do appeal to me to, either i cannot afford or it would have major impacts on my ability to develop blocks in Sydney).
My income is not that high so usually with most development opportunities serviceability is my main issue. So i would like to gain passive income over the future hence cashflow is the main motive with this investment. CG is also a factor but is secondary to cash flow.
Why I am inquiring into Kingston/Logan - seems to have properties that are close to neutral gearing, looks like once the draft plans come into action there will secondary dwellings which will allow decent positive gearing. Seems like a low value investment - so risk and amount of equity (which would be used to service developments) are minimal.
From what i have read these areas are of lower social economics. 2770 equivalence of Sydney. Also bogan community (from Bogan Hunters). When i visited the area a few weeks ago found it to be more of an ethnic community (more of recent migrants). Didn't see to many bogans although i did visit on a Sunday (around Midday and not go inside the pub) so maybe they were all hungover from Saturday night lol.
Question)
Whats the ethnicity diversion like? I seemed to see quiet a few Indian/Bangladesh/Pakistan origin and quiet a few of African origin. Are the numbers from these backgrounds increasing (over the past few years). From the internet reading it gives more of an idea it is a Caucasian area with the next ethnicity being Islanders and Aboriginals.
Question)
Reading one of the treads i seemed to get the idea that dual livings already existed with the downstairs converted to a secondary residence, although as of current laws that these had to leased as one lease. It was usually migrants that were interested as they had larger families or consisted of 2 related families that would lease together. Would anyone have any experience/thoughts/opinion of the paragraph.
Question)
What's the difference of living closer to a railway station or not in terms of demand. How important is Kingston or Logan Central station to residents of the area. Also are the houses closer to station (e.g eastern side of Kingston such as Clair Rd) less disarable than the western side of Kingston? And do the houses that are near the station attract a certain type of people?
Quick Questions) Would anyone be able to quickly share the costs of their outgoings on a rental property in the area? (I know its probably out there on the site already)
Any reply on the questions or thoughts would be appreciated
Thanks
Kingston / Logan Area
Apprenticeship.
Hey all.
I have been given a cancellation of my apprenticeship. And I'm kind of pissed off and I dunno where I stand. Has this happened to anyone before?
The reasoning behind all this my boss said "I dunno where I'm going to be in 6-12 months"
I've passed probationary period and I'm 2 months into my schooling.
I have been given a cancellation of my apprenticeship. And I'm kind of pissed off and I dunno where I stand. Has this happened to anyone before?
The reasoning behind all this my boss said "I dunno where I'm going to be in 6-12 months"
I've passed probationary period and I'm 2 months into my schooling.
Apprenticeship.
WTB IP IN SYDNEY SUB $350k
Hi Guys,
i am currently looking to buy a 2br unit in Sydney as an IP but im a bit stuck on areas to begin my DD. I have recently bought in Liverpool and i have seen good CG in the last 6 months so i suppose im looking for another Liverpool. This time over i have changed my strategy to buy renovate sell so im looking for something with good CG prospects in the next 24/36 months that also has a reasonable difference in sale price for renovated units.
Has anyone heard of any areas/hotspots to watch?
My budget is $330,000 (also interested in houses for this price)
Thanks :)
i am currently looking to buy a 2br unit in Sydney as an IP but im a bit stuck on areas to begin my DD. I have recently bought in Liverpool and i have seen good CG in the last 6 months so i suppose im looking for another Liverpool. This time over i have changed my strategy to buy renovate sell so im looking for something with good CG prospects in the next 24/36 months that also has a reasonable difference in sale price for renovated units.
Has anyone heard of any areas/hotspots to watch?
My budget is $330,000 (also interested in houses for this price)
Thanks :)
WTB IP IN SYDNEY SUB $350k
Sydney Silliness Warnings 2015
Is Sydney now starting to get too hot? Could it get hotter and then hotter again? With the experience of the investors on this forum I would like to hear of the warning signs of getting close to or past the peak and if they are starting to appear. I personally believe we have another 35% growth this cycle.
Warning signs such as are people starting to buy property and then put back on the market straight away. Sydney cabbies telling you to buy property. What were some other signs from 2003/2004? I remember everyone was watching the property auction show on TV with Michael Caton. Because I don't live in Sydney there is no guage of any of the above for me at the moment.
What are your thoughts?
Warning signs such as are people starting to buy property and then put back on the market straight away. Sydney cabbies telling you to buy property. What were some other signs from 2003/2004? I remember everyone was watching the property auction show on TV with Michael Caton. Because I don't live in Sydney there is no guage of any of the above for me at the moment.
What are your thoughts?
Sydney Silliness Warnings 2015
Insurance brokers or not?
All,
Want your advice on how to go about insurance...
I've got approx 7-8 policy's which I would like to re-insure.
-3 x rental propertys
-1 x PPOR
-2 x Cars
-1 x Motorbike
-1 x Pet
I've done my quotes for individual policys, and it seems i would need to insure with about 5 different company's to get the best deals.
I'm trying to simplify by going to a broker... is this the way they generally work.. they get all the best deals package it and just give you a total cost? or do they just find a company who can do all of it and go with them?
Do they look at the criteria you stipulate to them and they negotiate the best deals... will i get a discount for having X amount of policy's?
Never used a broker for insurance.. so any feedback would be greatly appreciated :)
Cheers
Jeremy
Want your advice on how to go about insurance...
I've got approx 7-8 policy's which I would like to re-insure.
-3 x rental propertys
-1 x PPOR
-2 x Cars
-1 x Motorbike
-1 x Pet
I've done my quotes for individual policys, and it seems i would need to insure with about 5 different company's to get the best deals.
I'm trying to simplify by going to a broker... is this the way they generally work.. they get all the best deals package it and just give you a total cost? or do they just find a company who can do all of it and go with them?
Do they look at the criteria you stipulate to them and they negotiate the best deals... will i get a discount for having X amount of policy's?
Never used a broker for insurance.. so any feedback would be greatly appreciated :)
Cheers
Jeremy
Insurance brokers or not?
Protection from Adverse Possession
Bear with me on this one as it is multi faceted and long winded (apologies)
So the crux of the matter is how do you protect yourself against AP when purchasing at auction?
If my understanding of AP is correct, the person who is at advantage has to do nothing at all but wait for you to try and rightfully claim back what is yours.
For example if I am hypothetically looking at a vacant block of land inner Brisbane for auction, if you were to be successful at auction, all is well until you go to start development. At this time you are likely to get survey done and bingo neighbours fence is 1.2m to your disadvantage. Now all the person at advantage need to do is lodge an AP claim and prevent your development proceeding.
Now I know you will say get the survey done prior to auction, but if my understanding is correct all this will do is make you aware of the fact, it is not until you start development and try to build where you think you can when the person at advantage can take what is on your title if they can prove AP.
If it was through private treaty you maybe able to arrange a clause for due diligence but as most auction contracts are " as is where is" my question is: is it possible to approach the real estate agents to have a clause added to auction contract, and if so what would that clause be to protect yourself from AP; "Vendor guarantees clear title" or "subject to clear title being provided"
Apologies I know some of my concepts and language are probably not up to spec legally but just thinking out loud.
A hypothetical quick measure of existing fence on hypothetical block would indicate discrepancies, and as inner Brisbane has hypothetically likely been the case for several decades.
If my AP understanding is correct, I find it unbelievable that all the power sits with the person at advantage which you will not know until after the event and all they then need to do is prove AP and lodge and you are left with a bag of you know what.
Cheers
So the crux of the matter is how do you protect yourself against AP when purchasing at auction?
If my understanding of AP is correct, the person who is at advantage has to do nothing at all but wait for you to try and rightfully claim back what is yours.
For example if I am hypothetically looking at a vacant block of land inner Brisbane for auction, if you were to be successful at auction, all is well until you go to start development. At this time you are likely to get survey done and bingo neighbours fence is 1.2m to your disadvantage. Now all the person at advantage need to do is lodge an AP claim and prevent your development proceeding.
Now I know you will say get the survey done prior to auction, but if my understanding is correct all this will do is make you aware of the fact, it is not until you start development and try to build where you think you can when the person at advantage can take what is on your title if they can prove AP.
If it was through private treaty you maybe able to arrange a clause for due diligence but as most auction contracts are " as is where is" my question is: is it possible to approach the real estate agents to have a clause added to auction contract, and if so what would that clause be to protect yourself from AP; "Vendor guarantees clear title" or "subject to clear title being provided"
Apologies I know some of my concepts and language are probably not up to spec legally but just thinking out loud.
A hypothetical quick measure of existing fence on hypothetical block would indicate discrepancies, and as inner Brisbane has hypothetically likely been the case for several decades.
If my AP understanding is correct, I find it unbelievable that all the power sits with the person at advantage which you will not know until after the event and all they then need to do is prove AP and lodge and you are left with a bag of you know what.
Cheers
Protection from Adverse Possession
Any benefit doing a building inspection on really old properties?
As the title states, is there any benefit doing a building inspection on really old properties?
I know it seams like a loose question, but I already know that the property needs a lot of work and all/most defects are pretty evident.
I know it seams like a loose question, but I already know that the property needs a lot of work and all/most defects are pretty evident.
Any benefit doing a building inspection on really old properties?
Advice on property in Waterloo
Hi Everyone,
I am quite new to this and I would like to know some experts opinions. I am thinking of buying it for capital gain investment.
I am looking to invest in Waterloo area. I am currently interested in a brand new 2 bed 1 bath 1 park apartment. selling price is around 799K for a 72sqm internal and 8sqm External. The current renting price for surrounding units is around $700/w. The Developer is Becton Group and the facility seem great. It's 10 minutes to Green Square Station.
My concern is wether or not the unit is overprice? And is the price going to drop within the next few years? I like the prospect of Green square shopping centre and the area seem to be developing quite well. I am just not sure if the increase in unit supply with drive the price down in future.
I am quite new to this and I would like to know some experts opinions. I am thinking of buying it for capital gain investment.
I am looking to invest in Waterloo area. I am currently interested in a brand new 2 bed 1 bath 1 park apartment. selling price is around 799K for a 72sqm internal and 8sqm External. The current renting price for surrounding units is around $700/w. The Developer is Becton Group and the facility seem great. It's 10 minutes to Green Square Station.
My concern is wether or not the unit is overprice? And is the price going to drop within the next few years? I like the prospect of Green square shopping centre and the area seem to be developing quite well. I am just not sure if the increase in unit supply with drive the price down in future.
Advice on property in Waterloo
Buying through a trust
Hi,
Was hoping I could check what my accountant is telling me. Buying a ppor in Perth. Accountant tells us my wife and I are both in high-risk jobs for litigation and that we need to purchase it through a trust to protect it from some imagined sinister threat.
Here are my concerns:
1. Would the property be liable for land tax - land tax for properties over $2.2mill is lots ($10,000 per year or something) in WA. Am worried that because a non-person 'owns' it, it won't be exempt like a normal ppor in our names.
2. How much is a trust going to cost me over 30 years - I'm not planning on moving ever again.
3. How do you actually do it? Does this have to be organised before I put in an offer or can I just do it prior to settlement.
Seems like a good way to set up a recurring income for the accountant, not sure if it is really that important for me though. I assume if someone's trying to take my house they've already bankrupted me and made me pretty miserable. Never heard it actually happening to anyone, though.
cheers!
Was hoping I could check what my accountant is telling me. Buying a ppor in Perth. Accountant tells us my wife and I are both in high-risk jobs for litigation and that we need to purchase it through a trust to protect it from some imagined sinister threat.
Here are my concerns:
1. Would the property be liable for land tax - land tax for properties over $2.2mill is lots ($10,000 per year or something) in WA. Am worried that because a non-person 'owns' it, it won't be exempt like a normal ppor in our names.
2. How much is a trust going to cost me over 30 years - I'm not planning on moving ever again.
3. How do you actually do it? Does this have to be organised before I put in an offer or can I just do it prior to settlement.
Seems like a good way to set up a recurring income for the accountant, not sure if it is really that important for me though. I assume if someone's trying to take my house they've already bankrupted me and made me pretty miserable. Never heard it actually happening to anyone, though.
cheers!
Buying through a trust
Paid with PPOR Offset....Will this work?
I've read 'How to avoid mixing personal and investment funds when paying IP expenses?' but couldn't spot this particular question in there. Dropping question here for myself and anyone else that comes along later with a similar scenario.
I grabbed some ceiling fans for our IP using our PPOR Offset (1) debit card today. I have:
If I was to redraw exact amount for the transaction from 3 > 2 > 1 (or 3 > 1) would that break the required deductibility principles (of not mixing personal and investment funds)? Does my highlighting affect this at all?
I grabbed some ceiling fans for our IP using our PPOR Offset (1) debit card today. I have:
- PPOR Offset
- IO Loan Sub-Account
- Equity IO Loan
If I was to redraw exact amount for the transaction from 3 > 2 > 1 (or 3 > 1) would that break the required deductibility principles (of not mixing personal and investment funds)? Does my highlighting affect this at all?
Paid with PPOR Offset....Will this work?
Good and ordinary RE Agents
I went to LOTS of opens and also made appointments to view many properties recently.
What stood out was the difference in agents, some were excellent knew their listings but many couldn't answer simple questions about fixtures/fittings and heating/cooling etc.
One agent just stood in the kitchen as people viewed the house with no attempt to interact with the very few people who turned up, I don't know how he thought it was going to sell. I would hate to have a useless agent like this if I was selling. When I approached him all he offered was the brochure.
One agent didnt return my call for information on a property which I know is still available and several had no idea about possible market rent, not that I couldn't estimate it anyway. The most common question was what was my upper price range.
No follow up call? Most properties there are on the market for several months so I expected a bit more effort for their commission.
A couple were interested and made an effort to engage with me and offer other listings they had but most didn't.
Other than turning up and having keys many offered nothing
Do others have similar observations?
What stood out was the difference in agents, some were excellent knew their listings but many couldn't answer simple questions about fixtures/fittings and heating/cooling etc.
One agent just stood in the kitchen as people viewed the house with no attempt to interact with the very few people who turned up, I don't know how he thought it was going to sell. I would hate to have a useless agent like this if I was selling. When I approached him all he offered was the brochure.
One agent didnt return my call for information on a property which I know is still available and several had no idea about possible market rent, not that I couldn't estimate it anyway. The most common question was what was my upper price range.
No follow up call? Most properties there are on the market for several months so I expected a bit more effort for their commission.
A couple were interested and made an effort to engage with me and offer other listings they had but most didn't.
Other than turning up and having keys many offered nothing
Do others have similar observations?
Good and ordinary RE Agents
Options for delayed settlement
Hi all, would really appreciate some input on a situation where I haven't been able to find an answer for elsewhere.
Is there a possible solution for the following scenario, where a block of land has been purchased on a 10% deposit and a delayed settlement of 2 years. If when the time for settlement occurs the husband and wife purchasing the land have had a child and are reduced to a lower income and their serviceability has been reduced, are there any solutions if we had parents who are willing to help out? The land would be purchased for an IP.
Thanks for any help,
Is there a possible solution for the following scenario, where a block of land has been purchased on a 10% deposit and a delayed settlement of 2 years. If when the time for settlement occurs the husband and wife purchasing the land have had a child and are reduced to a lower income and their serviceability has been reduced, are there any solutions if we had parents who are willing to help out? The land would be purchased for an IP.
Thanks for any help,
Options for delayed settlement
Contribution/Open Space when subdividing 2 lots
Hi All,
I'm subdividing my block in 2 lots (planning permit have been fully approved) and I remember someone telling me that what can be very expensive contribution or open space fees that go to Council are not applicable for 2 lot subdivisions but are for 3 or more, is that correct?
Pretty sure the above is correct but would be great if anyone can confirm please. For what it's worth it's with Knox Council in Melbourne but if I'm not mistaken I think this is the same anywhere.
My understanding is my costs related to the above are Land Surveyor Fee, Council App Fee for Subdivision, Utilities Fees (Water/Electricity etc), Titles Office and I think that's it from memory. I was told had I subdivided in to 3 lots of more, Council wanted 8% of the land value as contribution/open space from memory but this was not applicable for 2 lot subdivisions I think?
If anyone can confirm that would be great. TIA
I'm subdividing my block in 2 lots (planning permit have been fully approved) and I remember someone telling me that what can be very expensive contribution or open space fees that go to Council are not applicable for 2 lot subdivisions but are for 3 or more, is that correct?
Pretty sure the above is correct but would be great if anyone can confirm please. For what it's worth it's with Knox Council in Melbourne but if I'm not mistaken I think this is the same anywhere.
My understanding is my costs related to the above are Land Surveyor Fee, Council App Fee for Subdivision, Utilities Fees (Water/Electricity etc), Titles Office and I think that's it from memory. I was told had I subdivided in to 3 lots of more, Council wanted 8% of the land value as contribution/open space from memory but this was not applicable for 2 lot subdivisions I think?
If anyone can confirm that would be great. TIA
Contribution/Open Space when subdividing 2 lots
Choosing an Accountant
Hey all, Jess posted similar thread few days ago on how to choose good broker. I need your help to find good accountant!!
How do someone choose accountant??
Any hints and tips??
Thank you :)
How do someone choose accountant??
Any hints and tips??
Thank you :)
Choosing an Accountant
Development with Neighbour - Bad idea ?
Hi all,
The property next door to my PPOR sold recently, and the guy who bought it came over and explained his plans for the future. For him it's an investment property which he'll be renting out initially, with plans to build units on it in a year or two.
I assume he's serious about this as he said he's already had initial discussions with his town planner. He's a cabinet maker by trade so I assume he has connections with good tradesmen and would probably do some work himself to save on costs.
During our talk, he asked me if I would be interested in selling my property, which I am not. I only moved in 18 months ago. He then asked if I'd be open to the idea of developing both blocks to "maximise" it's use. I told him if there was a decent dollar to be made, then of course I'd be happy to look at it.
Some basic details :-
- suburb is 20km north of Brisbane CBD.
- 300m from train station, 100m from main road.
- Day care, primary and high school all within 300m.
- the zoning of the blocks could possibly be up to 4 storeys high, as that is what they are in the Moreton Bay MasterPlan. Not finalised yet as far as I know.
So onto my actual question. Can such a development be done whereby both parties can make a decent amount ? I'm assuming he can 4 or maximum 5 units on his block which is around 800 m2. Mine is 760 m2 so I'm guessing with the 2 together you'd get 12 or so ??
What would be a reasonable offer before I even entertain the idea ? I'm not looking to rip him off, but I'm not in any particular rush to sell either as my plan was to live in this house for 10 years or so, and then develop it myself one day.
Any suggestions, ideas or things to look out for are most welcome.
Thanks all in advance.
The property next door to my PPOR sold recently, and the guy who bought it came over and explained his plans for the future. For him it's an investment property which he'll be renting out initially, with plans to build units on it in a year or two.
I assume he's serious about this as he said he's already had initial discussions with his town planner. He's a cabinet maker by trade so I assume he has connections with good tradesmen and would probably do some work himself to save on costs.
During our talk, he asked me if I would be interested in selling my property, which I am not. I only moved in 18 months ago. He then asked if I'd be open to the idea of developing both blocks to "maximise" it's use. I told him if there was a decent dollar to be made, then of course I'd be happy to look at it.
Some basic details :-
- suburb is 20km north of Brisbane CBD.
- 300m from train station, 100m from main road.
- Day care, primary and high school all within 300m.
- the zoning of the blocks could possibly be up to 4 storeys high, as that is what they are in the Moreton Bay MasterPlan. Not finalised yet as far as I know.
So onto my actual question. Can such a development be done whereby both parties can make a decent amount ? I'm assuming he can 4 or maximum 5 units on his block which is around 800 m2. Mine is 760 m2 so I'm guessing with the 2 together you'd get 12 or so ??
What would be a reasonable offer before I even entertain the idea ? I'm not looking to rip him off, but I'm not in any particular rush to sell either as my plan was to live in this house for 10 years or so, and then develop it myself one day.
Any suggestions, ideas or things to look out for are most welcome.
Thanks all in advance.
Development with Neighbour - Bad idea ?
New QLD first time home owner questions...
vendredi 20 février 2015
Hi. First time posting. Have searched around all over the internet endlessly for answers to these questions with no luck. Also had a bit of a search here on this forum and I can't find anything specific. Please redirect me if these questions have been asked before. Thanks.
1. My partner and I have just made our first purchase in QLD. It's a 3 bed townhouse in Morningside and we paid $420,000 for it. It's tenanted until early July (so just under 5 months), at which point we plan to move into the place. We've claimed the QLD stamp duty concession as first home buyers as I have been told that we can make this claim provided we move in within 12 months (I have been told that the property technically isn't an investment property because of the fact that the tenants were there when we made the purchase). I have heard conflicting reports with regards to this concession though. My first questions is- will the tax man expect us to pay back any portion (or all of) the concession if we're not moving into it immediately?
2. Are we able to claim any property depreciation if technically it's not an investment property (if what I've been told above is in fact correct)? Are we able to claim any property depreciation if it's only tenanted for 4 months? Is it worth it?
3. Is it worth claiming any negative gearing if technically it's not an investment property? Are we able to claim any negative gearing if it's only tenanted for 4 months? Is it worth it?
Any help would be appreciated. Thanks.
1. My partner and I have just made our first purchase in QLD. It's a 3 bed townhouse in Morningside and we paid $420,000 for it. It's tenanted until early July (so just under 5 months), at which point we plan to move into the place. We've claimed the QLD stamp duty concession as first home buyers as I have been told that we can make this claim provided we move in within 12 months (I have been told that the property technically isn't an investment property because of the fact that the tenants were there when we made the purchase). I have heard conflicting reports with regards to this concession though. My first questions is- will the tax man expect us to pay back any portion (or all of) the concession if we're not moving into it immediately?
2. Are we able to claim any property depreciation if technically it's not an investment property (if what I've been told above is in fact correct)? Are we able to claim any property depreciation if it's only tenanted for 4 months? Is it worth it?
3. Is it worth claiming any negative gearing if technically it's not an investment property? Are we able to claim any negative gearing if it's only tenanted for 4 months? Is it worth it?
Any help would be appreciated. Thanks.
New QLD first time home owner questions...
What would you drive
If $ was not an issue what would you drive??
This car collection is over the top and I am totally in love with all these cars.
This is what I want when I grow up - the 1955 Porsche Spyder.
http://ift.tt/1CUT1ZC
MTR:)
This car collection is over the top and I am totally in love with all these cars.
This is what I want when I grow up - the 1955 Porsche Spyder.
http://ift.tt/1CUT1ZC
MTR:)
What would you drive
Using cash or equity in rental?
Hey guys a few of you would of seen me posting about heading to europe in september 2015, i will need a fair bit of money for this trip plus an engagement ring :) how do you usually finance stuff like this? i should be able to save all the cash for it by then, which will offset the home loan. just wanted to check if thats the best way to do it or if i should use a combination of cash plus the interest free on the credit card first as I'm alway ontop of that. Would pulling equity out of a rental be another option??
Using cash or equity in rental?
Is it Hot, or What?
OMG!
A house a couple of doors down from us had a 'Property Launch' just now. We went to have a look at it.
You know, I've never seen so many people wandering through a house. I spoke to the Agent who thinks it was somewhere around 60 parties for this home, but they had another this morning at Erskine Park which had 90 parties viewing it. :eek:
A house a couple of doors down from us had a 'Property Launch' just now. We went to have a look at it.
You know, I've never seen so many people wandering through a house. I spoke to the Agent who thinks it was somewhere around 60 parties for this home, but they had another this morning at Erskine Park which had 90 parties viewing it. :eek:
Is it Hot, or What?
Leasing a car for work
Hi guys,
I did the calculations about a year ago and leasing a car wasn't viable but my income will be a lot higher shortly. Is there a sweet spot where leasing becomes more viable than owning a car? And does this affect borrowing capacity?
Is there some sort of calculator which shows the net effect that leasing a vehicle has?
My current car is only $10k but my next car (probably 9-12 months away) will be somewhere between $40-60k.
Cheers
I did the calculations about a year ago and leasing a car wasn't viable but my income will be a lot higher shortly. Is there a sweet spot where leasing becomes more viable than owning a car? And does this affect borrowing capacity?
Is there some sort of calculator which shows the net effect that leasing a vehicle has?
My current car is only $10k but my next car (probably 9-12 months away) will be somewhere between $40-60k.
Cheers
Leasing a car for work
investment in Drouin or Warragul
Hi,
I am looking at an investment for a SMSF and due to limited ($350) ceiling based on amount in fund am looking at more regional areas. I am after buy and hold (rent) and would like cash positive or at least neutral (20% deposit). I was looking at Ballarat but a friend who lives there has noticed a slump in sales and empty rentals. Based on that I have researched a few other areas and am now looking at Drouin or Warragul...leaning towards Drouin. Would really appreciate thoughts on invest and hold in Drouin? Or Warragul. Oh, and any estate agent recommendations for the area would also be appreciated.
Thanks in advance
I am looking at an investment for a SMSF and due to limited ($350) ceiling based on amount in fund am looking at more regional areas. I am after buy and hold (rent) and would like cash positive or at least neutral (20% deposit). I was looking at Ballarat but a friend who lives there has noticed a slump in sales and empty rentals. Based on that I have researched a few other areas and am now looking at Drouin or Warragul...leaning towards Drouin. Would really appreciate thoughts on invest and hold in Drouin? Or Warragul. Oh, and any estate agent recommendations for the area would also be appreciated.
Thanks in advance
investment in Drouin or Warragul
Has anyone heard of this company
Hi all,
Has anyone heard of or used the buyers agent company propertybuyer.com.au
Any feedback would be appreciated.
Has anyone heard of or used the buyers agent company propertybuyer.com.au
Any feedback would be appreciated.
Has anyone heard of this company
Where to buy investment Brisbane South or logan for $350k or under
Hey guys,
I'm currently renting in runcorn with my partner
We are looking to buy our first property that has either cashflow (renting out room/s) or capital growth
Plan is to save whilst living there for second investment property
preference is south brisbane as work is eight mile plains
At the moment we are quite lost where to start.
We were enquiring to buy an off the plan apartment ?Mahogany? 1.5 bed for $352k 5 mins from garden city (upper mount gravatt
but my gut thinks not good idea
I was reccomended by a work college to buy 2nd hand home in marsden and diy renovate as they've seen others with results..
Also looking at some of the house and land packages are very attractive and the 15k grant.. but im guessing its not the most wise decision
I'm still very lost making a decision. definetly would love to hear your thoughts
Thanks
Will
I'm currently renting in runcorn with my partner
We are looking to buy our first property that has either cashflow (renting out room/s) or capital growth
Plan is to save whilst living there for second investment property
preference is south brisbane as work is eight mile plains
At the moment we are quite lost where to start.
We were enquiring to buy an off the plan apartment ?Mahogany? 1.5 bed for $352k 5 mins from garden city (upper mount gravatt
but my gut thinks not good idea
I was reccomended by a work college to buy 2nd hand home in marsden and diy renovate as they've seen others with results..
Also looking at some of the house and land packages are very attractive and the 15k grant.. but im guessing its not the most wise decision
I'm still very lost making a decision. definetly would love to hear your thoughts
Thanks
Will
Where to buy investment Brisbane South or logan for $350k or under
Plantation shutters Sydney?
Hi everyone,
We are looking at getting some plantation shutters installed in the living room (sliding door) and bedroom. We would prefer aluminium as they'll be lower maintenance and have longer lifespan + they close well, efficiently blocking the light (good for bedroom).
Can anyone recommend serious with quality products & competitively priced companies in Sydney?
Thanks
We are looking at getting some plantation shutters installed in the living room (sliding door) and bedroom. We would prefer aluminium as they'll be lower maintenance and have longer lifespan + they close well, efficiently blocking the light (good for bedroom).
Can anyone recommend serious with quality products & competitively priced companies in Sydney?
Thanks
Plantation shutters Sydney?
Investment Advice Needed - Melbourne
My partner and I are looking to purchase an investment property together. Our finances have been approved to the value of 700k for the purchase itself.
Our immediate plan is to purchase a house (ideally minimum 3 BR) on a block of at least 600sqm. Our medium term goals will be to renovate the existing property and subdivide the block. Like everyone else we are trying to capitalise as much as possible on CG but also build our equity over time through the subdivision process.
Our question is (and this is probably the question everyone is asking) what is a good area to invest in for this price range, considering the future plans we have for this property?
So far based on the research we have done, our potential target suburbs are in the Bayside and Eastern suburbs, they include:
- Cheltenham
- Mentone
- Moorabbin (likely just out of our range)
- Forest Hill
- Vermont
- Heathmont
- Ringwood North
- Ringwood
We particularly like Cheltenham, Heathmont and Ringwood North.
Cheltenham seems to be following similar trends of neighbouring suburbs like Highett, Bentleigh East and Moorabbin, which have all done quite well in terms of CG. It also offers quite good rental return - upward of $460 generally which is a reasonably good yield we believe. I have also been advised by multiple people in the industry that Cheltenham is a good option.
Ringwood North and Heathmont seem to be surrounded by a lot of new developments, freeway access, offer great sized blocks, are good family zones (which we think will add to rental security), good local facilities (Eastland, transport etc) and offer good rental yields (particularly in Ringwood north $450+ p/w).
Any advice on the areas we have highlighted and also suggestions of other possible areas that we have overlooked and would suit our criteria would be greatly appreciated!
Thank you in advance!! :) :o
Our immediate plan is to purchase a house (ideally minimum 3 BR) on a block of at least 600sqm. Our medium term goals will be to renovate the existing property and subdivide the block. Like everyone else we are trying to capitalise as much as possible on CG but also build our equity over time through the subdivision process.
Our question is (and this is probably the question everyone is asking) what is a good area to invest in for this price range, considering the future plans we have for this property?
So far based on the research we have done, our potential target suburbs are in the Bayside and Eastern suburbs, they include:
- Cheltenham
- Mentone
- Moorabbin (likely just out of our range)
- Forest Hill
- Vermont
- Heathmont
- Ringwood North
- Ringwood
We particularly like Cheltenham, Heathmont and Ringwood North.
Cheltenham seems to be following similar trends of neighbouring suburbs like Highett, Bentleigh East and Moorabbin, which have all done quite well in terms of CG. It also offers quite good rental return - upward of $460 generally which is a reasonably good yield we believe. I have also been advised by multiple people in the industry that Cheltenham is a good option.
Ringwood North and Heathmont seem to be surrounded by a lot of new developments, freeway access, offer great sized blocks, are good family zones (which we think will add to rental security), good local facilities (Eastland, transport etc) and offer good rental yields (particularly in Ringwood north $450+ p/w).
Any advice on the areas we have highlighted and also suggestions of other possible areas that we have overlooked and would suit our criteria would be greatly appreciated!
Thank you in advance!! :) :o
Investment Advice Needed - Melbourne
See property you like - buying process
Hi,
Just wondering what your buying process is when you see a property you would like to purchase and in the order you take would be much appreciated.
Mainly I would like to know what checks and due diligence tasks you perform and whether you do them before enegotiating a price or do you add some sort of clause in the contract in the cooling off period?
e.g.
1. Building Inspection
2. Pest Inspection
3. 149 Cert (For potential development)
4. Survey
Apologies if they are bad examples as really I have no clue but keen to see what you guys do.
Thanks
Just wondering what your buying process is when you see a property you would like to purchase and in the order you take would be much appreciated.
Mainly I would like to know what checks and due diligence tasks you perform and whether you do them before enegotiating a price or do you add some sort of clause in the contract in the cooling off period?
e.g.
1. Building Inspection
2. Pest Inspection
3. 149 Cert (For potential development)
4. Survey
Apologies if they are bad examples as really I have no clue but keen to see what you guys do.
Thanks
See property you like - buying process
Property managers - why not get a group discount?
I am wondering if it is possible to get a discount of PM fees?
I've got 2 properties in QLD, 1 in Toowoomba and the other in Brisbane city. Everywhere i've looked in Toowoomba or brisbane city - their rates seems to be 8%+GST minimum + this + that.
I was able to negotiate with the PM in Sydney (city area of 5% flat fee for 3 properties between 3 people, no other fees). In hindsight we should of went harder however it crosses that invisible line where service to value.
Wondering if anyone here in the Toowoomba/ city area or even in general (ANYWHERE) be willing to negotiate a group discount for PMs to lower their rate for 'Somersoft' members and a 'volume discount'... ;)
I am sure we can all ruffle up some members and start conversations with PMs. ;p thoughts on execution?
I've got 2 properties in QLD, 1 in Toowoomba and the other in Brisbane city. Everywhere i've looked in Toowoomba or brisbane city - their rates seems to be 8%+GST minimum + this + that.
I was able to negotiate with the PM in Sydney (city area of 5% flat fee for 3 properties between 3 people, no other fees). In hindsight we should of went harder however it crosses that invisible line where service to value.
Wondering if anyone here in the Toowoomba/ city area or even in general (ANYWHERE) be willing to negotiate a group discount for PMs to lower their rate for 'Somersoft' members and a 'volume discount'... ;)
I am sure we can all ruffle up some members and start conversations with PMs. ;p thoughts on execution?
Property managers - why not get a group discount?
When does contract date start and when does clause end?
If a contract date falls on the 14th February 2015 (a saturday) does the building and pest clause (7 days) finish on the saturday 21st February 2015 or the next business day Monday 23rd 2015.
Thanks I have read this but want to triple check so not to go unconditional if before I can finish getting quotes.
Regards
Quoc
Thanks I have read this but want to triple check so not to go unconditional if before I can finish getting quotes.
Regards
Quoc
When does contract date start and when does clause end?
Certificate of Occupation
Hi All
Hoping people with some excellent knowledge can give me an answers or fill in some gaping holes in my understanding.
Does anyone know the potential legal ramifications in NSW of a building that has no certificate of occupation??
We are under contract with a off the plan unit and apparently due to the builder f'nkg up a few things or not having the proper permits in place prior starting to build a certificate of occupancy cant be granted.
I would love to hear from peoples understanding of it especially if they can either point me to documents explaining it or come from a back ground of building/or are building surveyors/certifiers or have knowledge from insurance company's regarding this.
Hoping people with some excellent knowledge can give me an answers or fill in some gaping holes in my understanding.
Does anyone know the potential legal ramifications in NSW of a building that has no certificate of occupation??
We are under contract with a off the plan unit and apparently due to the builder f'nkg up a few things or not having the proper permits in place prior starting to build a certificate of occupancy cant be granted.
I would love to hear from peoples understanding of it especially if they can either point me to documents explaining it or come from a back ground of building/or are building surveyors/certifiers or have knowledge from insurance company's regarding this.
Certificate of Occupation
Loan servicing without work
jeudi 19 février 2015
Would a bank except a low earner or an unemployed person as too much of a risk even though they were to offer a large cash deposit on a mortgage and have a positive cash flow regarding income from the property?
Loan servicing without work
Who should take the moral responsibility for a bad tenant?
So id like to get the general consensus of who shoudl take the MORAL responsibilty of a bad tenant, not the legal.
its on the back of a tenant who stopped paying after 2 weeks into a lease. However, playing devils advocate, the agent did say 'we can give them a try' so it obviously wasnt the application from heaven
for me, its not the owners fault unless teh agent said they dont approve or its against their advice
its teh agents fault, for approving a potentially bad one, that being said, nobody has a magic crystal ball, so who knows. Or does it depend on the reason, if they have arrears history , and they stop paying is it the agents fault??? or what happens if they have no arrears history and one of them loses their job, then whose fault is it
its on the back of a tenant who stopped paying after 2 weeks into a lease. However, playing devils advocate, the agent did say 'we can give them a try' so it obviously wasnt the application from heaven
for me, its not the owners fault unless teh agent said they dont approve or its against their advice
its teh agents fault, for approving a potentially bad one, that being said, nobody has a magic crystal ball, so who knows. Or does it depend on the reason, if they have arrears history , and they stop paying is it the agents fault??? or what happens if they have no arrears history and one of them loses their job, then whose fault is it
Who should take the moral responsibility for a bad tenant?
Pre finished flooring
Hi all, looking at installing some timber flooring at our PPOR.
I want to stay away from engineered or floating floors and want the 'real' stuff.
I learnt yesterday about pre finished timber flooring. In other words ... it's the real stuff however no sanding or finishing required.
Anyone had any experience with laying this type of flooring ?
This company in Sydney looks good ... http://ift.tt/1CQTYob
I want to stay away from engineered or floating floors and want the 'real' stuff.
I learnt yesterday about pre finished timber flooring. In other words ... it's the real stuff however no sanding or finishing required.
Anyone had any experience with laying this type of flooring ?
This company in Sydney looks good ... http://ift.tt/1CQTYob
Pre finished flooring
Installed new security fence
Have just replaced the old chain wire fence with a new security fence and got rid of the shrubs etc, the old one didn't fully enclose the 2 front units, the new one does - much to the delight of the tenant in Unit 1 who said he now feels safe when working at night :)
Installed new security fence
How important are a survery report and a building certificate before signing contract
Contract doesn't include a survey report or a building certificate at this stage. To get them, they'll cost $660 and $250 respectively.
Is this normal? And do I need them?
This is an el cheapo in a town.
Thanks
Is this normal? And do I need them?
This is an el cheapo in a town.
Thanks
How important are a survery report and a building certificate before signing contract
How long does it take for titles to be issued?
After a builder has submitted all paper work to the government, how long does it take for titles to be issued ?
I agreed to purchase a property back in October 2014 which was about 90% complete. I was told by REA that he expected the settlement to be complete end of December but may extend into January due to holidays. December's gone, so has January and now February is going away. I haven't heard anything from anyone. I asked the REA and he said the paper work is in, we are just waiting on the government. The conveyancer is equally useless. She was told last week the titles office is in possession of the paperwork and titles will be issued asap. I called the titles office and they confirmed their turn around time is 24 - 48 hours. So the paper work hasn't moved on till the titles office.
1) What sort of paper work gets submitted ?
2) Is there a way to know when all the paper work was lodged ?
3) The sunset clause in my agreement has a date of 31st March. Does a sunset clause mean finishing of the property and lodging the paper work, or does it mean, by this date the settlement will be over ?
4) I am already managing breaking/extending my current lease and paying for storage of white goods - can I claim compensation for these costs ? (nothing about this is mentioned in the contract).
I agreed to purchase a property back in October 2014 which was about 90% complete. I was told by REA that he expected the settlement to be complete end of December but may extend into January due to holidays. December's gone, so has January and now February is going away. I haven't heard anything from anyone. I asked the REA and he said the paper work is in, we are just waiting on the government. The conveyancer is equally useless. She was told last week the titles office is in possession of the paperwork and titles will be issued asap. I called the titles office and they confirmed their turn around time is 24 - 48 hours. So the paper work hasn't moved on till the titles office.
1) What sort of paper work gets submitted ?
2) Is there a way to know when all the paper work was lodged ?
3) The sunset clause in my agreement has a date of 31st March. Does a sunset clause mean finishing of the property and lodging the paper work, or does it mean, by this date the settlement will be over ?
4) I am already managing breaking/extending my current lease and paying for storage of white goods - can I claim compensation for these costs ? (nothing about this is mentioned in the contract).
How long does it take for titles to be issued?
renting rooms out in my house.
Hey got a question for tax people.
Before everyone says its illegal and tax evasion im not doing it yet just asking the question.
I have two spare rooms available in my house and im currently living there. I have two mates looking for a place to live where I could rent out a room for 150 each direct debited into my bank. Would the tax man catch on to this ? or is cash in hand better.
If so how is this any different from me transfering my mum weekly board when I lived there.
I read the Smh article where lots of people do this but cgt and finds apply if caught out.
Before everyone says its illegal and tax evasion im not doing it yet just asking the question.
I have two spare rooms available in my house and im currently living there. I have two mates looking for a place to live where I could rent out a room for 150 each direct debited into my bank. Would the tax man catch on to this ? or is cash in hand better.
If so how is this any different from me transfering my mum weekly board when I lived there.
I read the Smh article where lots of people do this but cgt and finds apply if caught out.
renting rooms out in my house.
First IP
I have just submitted an offer on my first IP and after few days of going back and forth with offers with the agent I think we have come to a stand off. Where we are now 10k away from each other. At the moment I'm in no position (financially) to offer any more, are there any tips or recommendations for me to get her down to our final offer. HELP!!
Thanks,
Thanks,
First IP
Building contract administration
So, I'm in the early stages of planning a 4 townhouse development in Melbourne. I've spoken to a few town planets, architects and draftsmen and we're trying to decide who to go with.
I'm a first time developer, no background in construction but I know one end of a hammer from the other. One of the things that I'm getting conflicting advice about is building contract administration. Some are telling me it's a must, builders are all dodgy and will cut corners and rob us blind every chance they get. Others are saying don't worry about it, it's unnecessary, just make sure the contract and plans are detailed and the bank providing finance will check things over before releasing funds at each stage.
Thoughts, opinions, advice - most welcome! I'm leaning towards going for CA but don't want to throw away money unnecessarily.
What do y'all reckon?
I'm a first time developer, no background in construction but I know one end of a hammer from the other. One of the things that I'm getting conflicting advice about is building contract administration. Some are telling me it's a must, builders are all dodgy and will cut corners and rob us blind every chance they get. Others are saying don't worry about it, it's unnecessary, just make sure the contract and plans are detailed and the bank providing finance will check things over before releasing funds at each stage.
Thoughts, opinions, advice - most welcome! I'm leaning towards going for CA but don't want to throw away money unnecessarily.
What do y'all reckon?
Building contract administration
Settlement Questions - WA
Hi
I have a few questions regarding settlement. The buyer has done his final pre settlement inspection and has a few concerns.
I have done all 3 of these things because the buyer demanded it and the RE suggested that i do otherwise settlement will be delayed but its been extremely costly. I would just like to know this for future sales.
I have a few questions regarding settlement. The buyer has done his final pre settlement inspection and has a few concerns.
- Keys missing for window bolt locks
- Concerns over the vent for evap a/c in bedroom
- Blown light globes
- Am i responsible for replacing all blown light globes? If so, am i also responsible for buying new light globes when i never had lights in those sockets? (theres a heap of spotlights around the house that has never had any globes in it)
- Am i responsible for supplying all keys to locks? These small keyed-alike window bolt locks have missing keys. The locksmith said this is true but the locks dont have to be working (only a key supplied that fits)
- Do i have to foot the bill after the buyer required a service technician to write a report to state the A/C is in good working order even when i believe its working? The solicitor mentioned its the sellers responsibility on the contract to ensure good working order
I have done all 3 of these things because the buyer demanded it and the RE suggested that i do otherwise settlement will be delayed but its been extremely costly. I would just like to know this for future sales.
Settlement Questions - WA
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