Do you realise that the strata managers actually work for YOU (the owners of the units)? They don't make decisions about rises in rates. YOU DO. Everyone who owns a unit is entitled to vote at the AGM on fees. Why weren't you there if you care about the fees charged? I suggest you attend the AGM and have a say. Even get on the executive committee…[Read more]

First stop paying down the principal. Keep putting extra into the offset account. That way it's your money to do with it what you want. You don't need to put your home on the line to invest. You have at least $50K. Paying down your mortgage will give you a sound sleep but will not move you any further on the investment path. You can use the offset…[Read more]

I would get a LOC on the investment property. There's nearly $100K available at 80% lend.Let the interest for the investment property come out of that while you pay your cash into the credit cards. After that is paid out decide whether you can afford another IP (based on the cash flow, your income etc). Use the LOC as the deposit, legals, stamp…[Read more]

You might like to read this.http://www.somersoft.com/forums/showthread.php?t=66392

Electricity in your name at that address, showing usage. If your bill is' say' $10 a quarter, obviously you aren't living there. Car insurance as garaged at that address etc. Drivers license at that address etc.  Just having your address on a PO box I don't think will be enough if you are questioned. Thousands have had to pay it back because t…[Read more]

Yes you can own an investment property (if acquired after 2000) but I think you only get the FHOG not the stamp duty concession. If you have lived in it then for that time it was a PPOR so you don't get anything.

Yes but you can also claim all costs associated with the unit. EG rates, management fees, insurance, interest etc.Just before you move back in you can repair any problems (paint etc) and claim that against the rent. Do it in the same tax year.

Ok so you've decided Brisbane will be doing well in 12 months time. But what of the off the plan purchase. I it good value? how does it compare to similar sized properties in the same area? If you overpay it will take years to get to market value even if prices do go up around you. Whats the expected rent? How will your cash flow be? Have you…[Read more]

Ring up the Real Estate agent and tell him you are looking for a place to rent around $300 and in the area of your place. Or ring specifically about your place. THAT may give you the answer. Maybe they're too busy to show people.

Hi sometimes banks do a desktop valuation so may not even come out. It's up to you to provide why it's worth mare than the average. As others said, speak to RE Agents to see what's in demand from a sell and a rental point of view.Work out what you intend to replace, fix, etc. I only do reno's where equity has increased 3-1. That is if I spend $1…[Read more]

Lots of variables. Are you going to live in the house first? Otherwise it's an investment and you may be liable for CGT. No-one can tell you how much you'll make when no-one knows the costs involved. What about interest paid? etc. Too many unknown facts. If it is your PPOR.  End price – agent 2% (roughly) – land and build costs – interest etc = p…[Read more]

This is why people are encouraged NOT to pay down their PPOR but to get an offset loan instead. I didn't know that when I started either but luckily we have stayed in our PPOR for a long time and won't use it as an IP.

I joined the first one I bought. After a few years I dropped out as the people running it were great and I had joined  anothers by this time and had metings for others to attend (only the yearly ones).  The one I joined had major issues. BC manager was hopeless so I arranged to have their contract terminated and appointed a new manager. I'm s…[Read more]

correct. You pay interest on the difference between the amount owing on the loan and the amount in the offset account. The reason people have an offset account instead of just paying down the loan is that the money is yours to take out whenever you like. If you decide to make the PPOR into an IP you maintain the tax benefits of the whole loan.…[Read more]

No. The BA fee is not deductible. As I mentioned (when you sell) you just add the cost to your purchase price then take that off the sale price to work out CGT.

UMMM. NO!!!You are not an owner builder. You are an investor. If that was the case no-one would pay CGT on investment properties. We could just say we are owner builders and sell one every 3 years. I like your optimism though. And yes. Add any money spent on reno's to your cost base.

Use equity in one property for deposit, legals etc then have a stand alone loan for 80% (or 90% if you are that way inclined) on the new property. Value up and pull the extra equity out to pay the deposit and legals on the next property. Get another stand alone loan for that IP. Repeat, repeat, repeat until you reach the LVR you are comfortable with.

No. Not deductible (well until you sell that is) It gets added to the base when you sell.The only things that are deductible are costs against the rent. In other words things you must pay in order for the property to be available for rent (interest, rates etc). BA fee is a cost associated with buying.

Check leasing fees. These can sometimes be high which soon erodes your 7%.  Also other ongoing fees.Not my cup of tea but everyone's different.

Check strata fees and report carefully. As you said there may be some costly work needed. In Sydney (not sure what city you are talking about) there are some very old buildings that I know need (and have had) extensive work done. Can be in the $100K's.