Hi Jules,

Welcome aboard !! I’m sure there will be some members who can help, but give us a city – no good recommending a project manager in Sydney if you are in Perth. ;)

Benny

Hi Jo,

All the hours and hard work I put in to gain the highest certification possible in my employment has also paid off and I now regularly bring in 100 per hour at the weekends to stash in that account ready for my first successful investment property to be.

I’m enjoying reading your updates Jo, and smiling as I read of the changes in you…[Read more]

Terry,

2. Incidental costs of acquiring the asset, or costs in relation to the CGT event, for example, stamp duty, legal fees, tax advice, and so on.

Does 2. (above) also relate to costs of selling? From the wording “costs in relation to the CGT event” one could think selling applies…. Without the sale there would be no CGT event, right?…[Read more]

Hi Jojo,

Vacant possession means the seller should arrange for all of the tenants to leave so that the place is empty at settlement. I would think just mentioning those words to the Agent might have them realising that this could be a requirement if you are the eventual Buyer. They will likely want to talk you into accepting that some tenants…[Read more]

Hi Darkness,

It may help understand WHY things work out the way they do. When you read up on CGT, you may see a reference to the Cost Base. This is the total cost to you of buying the place (purchase price, stamp duty, solicitors costs, etc). So, even though you say you paid $200k, your Cost Base is $228k and may be even more, allowing for…[Read more]

Hi Darkness,

It may help understand WHY things work out the wy they do. When you read up on CGT, you may see a reference to the Cost Base. This is the total cost to you of buying the place (purchase price, stamp duty, solicitors costs, etc). So, even though you say you paid $200k, your Cost Base is $228k and maybe even more, allowing for…[Read more]

Hi Jojo,
Have you talked with the Agent re taking “vacant possession”? This usually leads to a scenario where the Agent then discusses the “change of landord” with each tenant, and introduces to them the likelihood of a rent rise.

Depending on each one’s circumstances, they might choose to stay and pay a bit more, or they might choose to…[Read more]

Hi Bungee,
I can recommend Nick Moustacas of Strategic Wealth Management. He is VERY experienced in many aspects of investing as well as accounting, as you will find out. He is not in Sydney’s North-West though (he is in Hurstville).

To call him and check him out, Phone:(02) 9580 3353

Benny

Hi AB,
That appears to be a US-based website. I am sure such a product is available here too – akin to a Life Policy that pays off the house if you die, yeah? Not to be confused with LMI (Lenders Mortgage Insurance) where you pay a premium to protect your lender.

If the above scenarios are covered through the Super wouldn’t we be over i…

[Read more]

Hi AB,
That appears to be a US-based website. I am sure such a product is available here too – akin to Salary Protection, etc. Not to be confused with LMI (Lenders Mortgage Insurance) where you pay a premium to protect your lender.

If the above scenarios are covered through the Super wouldn’t we be over insuring ourselves by paying a p…

[Read more]

Hi AB,
Do you want to expand on “MPI” for those of us who don’t know what you are referring to? Sounds like some kind of Insurance, but…. is it a “Multiple Property Insurance?”

Benny

Hi Bond,
Welcome to this place – it is good to see you already drawing on the collective knowledge of this place, and it sounds like it is going well for you. Some good answers there from those who know.

I’d like to add a bit too – and that is simply this – it could be possible to borrow up to 90% on your Mossman IP. LMI would come into it,…[Read more]

Hi Karen and June,
It is a big subject – try this link as a starter:-
https://www.propertyinvesting.com/topic/4410491-the-big-picture-for-new-readers-especially/#post-4697974

That post also has another link that expands on the subject – once you have read all of these, you may have a pretty good idea of what is going on, and you may not need…[Read more]

Hi Chattaway,

In case your question is looking for guidance in print, let me direct you to Jason’s recent Article :-
https://www.propertyinvesting.com/how-to-invest-in-real-estate/

Look in Chapter 3 – which is all about goal-setting. It provides a lot of practical commonsense in writing – e.g. the bit about “half life, Third Value” (you’ll…[Read more]

Hi TraceanDave,

+1 for the above two posts !!

Watch out for ANY company who wants to know how much Equity you have in your own home – and watch how quickly they snub you if you have none, or little.

See, they NEED you to have equity so they can sell you an OVER-priced property yet still be paid by you (indirectly). And by providing…[Read more]

Hi TraceanDave,

+1 for the above two posts !!

Watch out for ANY company who wants to know how much Equity you have in your own home – and watch how quickly they snub you if you have none, or little.

See, they NEED you to have equity so they can sell you an OVER-priced property yet still be paid by you (indirectly). And by providing…[Read more]

Hi Tim,
Your title mentioned an 8% fee – is this a number that has been quoted to you? It seems way too high to me. At that kind of rate I would be looking for another alternative !!

I was interested to hear you have started a company. Do you want to share what you do? e.g. a company that does reno’s, or developing, or sell Real Estate,…[Read more]

Hi Sean,
Well, as one who tends to be a bit cautious myself, I would tend to side with the Building Inspector (whom you employed to make you aware of any problems, yes?). Now if he says “Get it checked”, and I were the buyer, I would start to consider my options.

The current owners have said that they will not pay for Structural Engineer…

[Read more]

Hi JJ10,

Depending just where this house is, could you try contacting a local glazier. Seems all you need is someone to “rubber stamp” the work done by Stegbar – for a few dollars, or a carton !! ;) Hell, you’d probably pay a goodly amount to have this behind you, wouldn’t you?

But really, I have no blooming idea !! Hopefully one of…[Read more]

Hi JJ10,

Depending just where this house is, could you try contacting a local glazier. Seems all you need is someone to “rubber stamp” the work done by Stegbar – for a few dollars, or a carton !! ;) Hell, you’d probably pay a goodly amount to have this behind you, wouldn’t you?

But really, I have no blooming idea !! Hopefully one of…[Read more]