Hi Bruno,
I just noticed that your last question did not seem to get answered :-

I’m still confused though. Based on the clause that Terry mentioned, does that mean I should only be paying CGT on that initial 3 months where there was a tenant from the lease rolled over from the previous owner? Even though it was rented out again after I had l…

[Read more]

Hi Jessica,
Thanks for that. Right off, it seems you are paying Interest Only on the Mortgage ($140 per week on $156k is just 4.6% – so I am guessing it is IO). If you were paying P&I, I would have suggested changing to IO anyway. Let’s quickly “do the numbers” re how things are right now and see what shows up:-

$240/week Income =…[Read more]

Hi Jay,
Note that I haven’t done what you are asking about, but I have seen what LCC has allowed for homes at Yarrabilba (the new so-called “super city” South of Logan). See the pdf for LendLease and their lot sizes on brochure pages 12 and 13 (or pdf page numbers 14 and 15):-
Yarrabilba Brochure – Lend Lease Communities…[Read more]

Hi Jay,
Note that I haven’t done what you are asking about, but I have seen what LCC has allowed for homes at Yarrabilba (the new so-called “super city” South of Logan). See the pdf for LendLease and their lot sizes on pages 12 and 13 :-
Yarrabilba Brochure – Lend Lease Communities…[Read more]

Hi Jessica,
Welcome, and well done for making your first post on any property forum. Let’s see if we can help turn a spotlight onto the puzzle of “What to do next”.

Good to hear that it is cashflow neutral – my first question(s) would be around that :-

1. Are you paying Interest Only, or P&I?
2. What is the amount of the mortgage and you…[Read more]

Hi Wise,
Wow – that sounds awful !! I’m sure one of our resident legal folk will come by soon enough…. But meanwhile, can I clarify with you the following :-

It sounds like there are TWO caveats – one from your Uncle, and one from the Legal Aide bloke. Is that right?

And, can you clarify what this sentence was MEANT to say :-

I…

[Read more]

Hi Cheyne,
Richard made a very salient point. So that I don’t assume anything, let me ask you these questions:-

1. Are you purchasing your own airline ticket?
2. Are you also going to be looking at existing properties?

If you answered “No” to either of these, please take careful note of the following.

First, if a marketing company is…[Read more]

Hi Cheyne,
You most likely have looked around, but just in case you missed it, there is another Coomera thread attracting a bit of attention….. https://www.propertyinvesting.com/topic/5014599-advice-about-buying-an-ip-in-coomera/

Comments both for and against in there – so it is worth spending a bit of thought on.

Benny

OMG – yes, I had forgotten about Studio Village. Thanks for the reminder.

If you would though, Richard, do tell me why you see it as “on the wrong side of the highway”. I see this feeling all through Logan, with Eastern suburbs being preferred, and always wondered “Why?” Like, does being 1Km closer to the Pacific Ocean make a difference? :p…[Read more]

Well, well, well !! After hearing on here about “Upper Coomera”, I went looking via Whereis.

I believe that name is a total misnomer. There is nothing “Upper” about it – in fact, it is what I know of as Coomera. It is on the West side of the M1, across the M1 from the original Coomera, which used to consist of 1 servo, 3 shops, and a pub…[Read more]

OK, good to know you are looking for EXISTING properties.

From before then :-

But take a look at the values of second hand housing in/around Coomera

… and add Ormeau to that list. Ormeau indeed could be worthwhile as its developments started nearly 30 years ago. I always did like the area – back then, it was the place to buy new houses on…[Read more]

Hi SM,
I have just twigged – this thread started with Guarav talking of House & Land packages in Coomera. These are what I was warning against.

On checking, I haven’t seen where you were talking H&L – so maybe your Buyers Agent was looking for existing rather than new – is he? And what about you? Are you also talking existing houses? If…[Read more]

Hi Harv,
So, had they provided numbers on “expected rents” or “Expected holiday letting returns”? Costs for body Corp? Costs for Holiday Let mgmt? etc?

A quick look at apartments in Broadbeach (out of interest, after reading your post) saw a range of rents from $400 to well over $600 a week. Prices of apartments had a huge range of values…[Read more]

Hi Harv,
So, had they provided numbers on “expected rents” or “Expected holiday letting returns”? Costs for body Corp? Csts for Holiday Let mgmt? etc?

A quick look at apartments in Broadbeach (out of interest, after reading your post) saw a range of prices from $400 to well over $600 a week. Prices of apartments had a huge range of values…[Read more]

Hi Peta,

…. if I do it at my expense and to a professional standard I am welcome to do it myself, but the screens have to stay there when I leave.

If these were to be a fixture, then I believe the above may be correct. i.e. if you have to drill holes and use screws to affix them, then they become a “fixture”. Also, the landlord would not…[Read more]

Hi Richard,

Did a loan for a forum member this week in a similar situation and we managed to squeeze out another 300k of borrowing compared to her original bank.

That is a very useful “aside” Richard. Amazing that a different lender could make such a large difference. Those little snippets are worth gold !!

Hi Sammy,
I hope the thoughts…[Read more]

Hi Richard,

Did a loan for a forum member this week in a similar situation and we managed to squeeze out another 300k of borrowing compared to her original bank.

That is a very useful “aside” Richard. Amazing that a different lender could make such a large difference. Those little snippets are worth gold !!

Hi Sammy,
I hope the thoughts…[Read more]

Hi Richard,

Did a loan for a forum member this week in a similar situation and we managed to squeeze out another 300k of borrowing compared to her original bank.

That is a very useful “aside” Richard. Amazing that a different lender could make such a large difference. Those little snippets are worth gold !!

Benny

Hi Harv,
Have you looked at the differences in incomes between long-term lease and holiday letting? If the latter, is there a property manager who will look after the renting of these, or is that up to you?

Have you looked at the likely percentage of “filled weeks” versus “unfilled weeks” if holiday letting? Though it is nice to perhaps…[Read more]

Hi Mim,
Since you mentioned this:-

I have not even seen this builder work as he was recommended by my bank manager..

… is it worth a trip, or phone call, to the Bank Manager. They could be friends, or the BM could have used this group previously for his own purposes. If the former, maybe you can glean a little more (and maybe the BM can…[Read more]