No, the REA said that he would recommend to any seller that they do the renovations themselves before putting their property on the market.  In short – that I was wasting my time looking for something that could potentially make money through a cosmetic renovation.

Hi Andrew,I'll be there with bells on!!  I'm not sure that we can actually start the buying process on that weekend – all of our paperwork will need to be organised and setup via Tony before we can make our mark.I was lucky enough to speak with Steve a few days ago, and there is a huge amount of content to go through….just make sure that you…[Read more]

I am actually looking at that exact strategy now – in Sydneys Upper North Shore.  Have had a look at a few properties, but none have stacked up…yet.  One REA did tell me that I was wasting my time, and that he would always recommend to a seller that they improve the property themselves before putting it on the market!  Now I have to add &#0…[Read more]

As far as I know, there isn't really any council restriction on this – within reasonable grounds that is.  (I'm based in NSW).  Having said that, in our block of apartments, we have as part of our by-laws that there can be no more than 2 occupants to any single room.  Would be a good idea to check with your Strata Managers, or Owners Corp first.

You mention that you have floor boards!  I have 2 cats with me (which I dearly love) but they have scratched the life out of the flooring with their constant hooning through the house, and little spats at eachother.  When I eventually move and put my PPOR up for rent, then I'll need to have the floors buffed.  In my complex, pets are not al…[Read more]

Actually, what I said isn't quite right – sorry!  There are 3 blocks, but on 2 titles.  One title has 2 separate buildings and 5 units (one with 3 and the one with 2), the other title has one building and 4 units.All single storey.

Hi Alyssum,All I ever do is pick up the phone and say to my solicitor…."I want this subject to finance, and subject to a building inspection and so on".  They then have the contract amended and work it out with the vendors solicitor.  You may find that some vendors won't accept these conditions – so make your own decisions on whether you want t…[Read more]

I would be surprised if you could be accused of anything – but I would never discourage you from confirming that with any professional body that you are associated with.As for the Sinking Fund.  If you do a strata search, you will find out the financials and be able to see the balance of the sinking fund and the Admin Fund.  If the cost far o…[Read more]

I actually grew up right by there.  You'll find that there are good parts to Wodonga and bad parts – these will definitely dictate the kind of tenant that you'll attract.

Sure.  http://www.auction.com/auction_details_online_land.php?auctionID=L-001I'm really not sure if they are tax liens – they all seem to have deliquency estimates though.

According to the TaxPac Supplement for 2009:"You can claim expenses relating to your rental property but only for the period your property was rented or available for rent – for example, advertised for rent."  (S27)

Thanks to everyone for their input.  I am pleased to say that I was clever enough to have Pest and Building inspections done, and include a clause for them in the contract.  In response to Pully above, it turns out that the vendor had defaulted on their mortgage, so it was kind of like a fire sale I guess.  I found out about it when settlement wa…[Read more]

Hi Dimitri,Please don't take this as 'professional' advice, but I too had quite a bit of debt on credit cards (no personal loans).  My husband and I worked really hard to remove all of that debt and we did it by making the most of the low interest rates on balance transfers.  Essentially, we transferred as much as we could to a new credit card, a…[Read more]

Any rental increase needs to be seen as 'fair and just'.  The tenant can easily argue if the increase is substantial (eg. over 5%) or if the increased price is higher than a comprable property.You also need to weigh up how likely it is to find new tenants, and also how much you like your current tenant.Be sure to get the advice of your property…[Read more]