PropertyInvesting.com | cs_rlewis | Activity https://www.propertyinvesting.com/members/cs_rlewis/activity/ Activity feed for cs_rlewis. Wed, 15 Apr 2026 00:13:23 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 3eedc541cd1b472bea9f9581e2312dc5 cs_rlewis started the topic recommended rental agents for Perth? in the forum Help Needed! https://www.propertyinvesting.com/topic/5041239-recommended-rental-agents-for-perth/ Tue, 07 Nov 2017 20:48:03 +0000 My almost new apartment has been vacant since August. I know the vacancy rates in Perth are high at the moment but I havent been happy with my agent for a while – ive gone with one of the commercial agents (century 21). I would love to find a small family business who specialises in this field. Its hard for me at the moment as I live in melbourne…[Read more]

]]> 5772751104d5d0e1ea7d2d3baecc3b2a cs_rlewis replied to the topic tenant hasnt paid last two gas bills - what to do? in the forum Help Needed! https://www.propertyinvesting.com/topic/5032752-tenant-hasnt-paid-last-two-gas-bills-what-to-do/#post-5032822 Mon, 06 Feb 2017 20:49:03 +0000 I find all these property managers to be as bad as each other, especially if they work for one of the big real estate firms – once you hand over the signed agreement and they get their commission, they are reluctant to do anything.
Does anyone know of any family run business around perth with good reputation as property managers?

]]> 331e849ecc4f99b59e50cf7524c6a9d0 cs_rlewis replied to the topic tenant hasnt paid last two gas bills - what to do? in the forum Help Needed! https://www.propertyinvesting.com/topic/5032752-tenant-hasnt-paid-last-two-gas-bills-what-to-do/#post-5032766 Sat, 04 Feb 2017 23:30:16 +0000 just checked the lease. It states the tenant must pay for the gas.

]]> 8c88dba3779fbb78afae66a760656af7 cs_rlewis replied to the topic tenant hasnt paid last two gas bills - what to do? in the forum Help Needed! https://www.propertyinvesting.com/topic/5032752-tenant-hasnt-paid-last-two-gas-bills-what-to-do/#post-5032763 Sat, 04 Feb 2017 21:10:53 +0000 in WA. Have checked with the strata and they cant send a copy of the bill to the tenant. It has to come to me unfortunately.

]]> b7f2d6c4e260d9d1b3e5dd9b044d8c3c cs_rlewis started the topic tenant hasnt paid last two gas bills - what to do? in the forum Help Needed! https://www.propertyinvesting.com/topic/5032752-tenant-hasnt-paid-last-two-gas-bills-what-to-do/ Sat, 04 Feb 2017 02:04:11 +0000 Hi everyone, the strata has just started invoicing me (the landlord) the gas usage every two months for my investment apartment. Have passed the invoices to my property manager to get reimbursed from the tenant, however it still hasnt been paid. Called the property manager a month later to check whats happening, says she ‘will sort it out’.…[Read more]

]]> ff266468da2a4ac1c1bde00d493baeb3 cs_rlewis replied to the topic How do people buy multiple properties in the forum Help Needed! https://www.propertyinvesting.com/topic/5014274-how-do-people-buy-multiple-properties/#post-5014349 Thu, 08 Oct 2015 11:38:44 +0000 thanks i believe a good broker is vital, because I’ve only had one so far but since then I’ve learned i could get better deals elsewhere. its all a learning process, the more knowledge you possess the more power you have.

]]> 61cf68593c2964190ad75d3b70222e1e cs_rlewis replied to the topic How do people buy multiple properties in the forum Help Needed! https://www.propertyinvesting.com/topic/5014274-how-do-people-buy-multiple-properties/#post-5014318 Thu, 08 Oct 2015 04:09:10 +0000 I settled on my current property two months ago, but I bought it off the plan and it took 2 years to build- im sure its worth about 50-60K more as I bought it for $349K 2km out of the perth CBD. You really have to look at the numbers, as people will tell you that off the plan is a bad idea. But as you can see Ive had excellent growth from buying…[Read more]

]]> 012f7b760e17c05b84f78152b7b246df cs_rlewis replied to the topic How do people buy multiple properties in the forum Help Needed! https://www.propertyinvesting.com/topic/5014274-how-do-people-buy-multiple-properties/#post-5014318 Thu, 08 Oct 2015 04:09:10 +0000 I settled on my current property two months ago, so no capital growth as yet.

Yes my first property i bought as a house and land package, 3 years later the suburb developed a bit and I sold it for a handy profit.

]]> 7ccf5cac5a046918cd1384b2c2546f00 cs_rlewis replied to the topic How do people buy multiple properties in the forum Help Needed! https://www.propertyinvesting.com/topic/5014274-how-do-people-buy-multiple-properties/#post-5014309 Thu, 08 Oct 2015 02:00:31 +0000 Hi Ash, the purchase price was $338K, so closing costs should make the property about $354K.
As you can see I would have to use my own money to pay off the equity loan – roughly $3k in my example. So I would eventually reach my borrowing capacity.
The ideal scenario is what Benny was saying, to aim for a rent of 450+ so the rental yields is…[Read more]

]]> d452a72600a1ab0bbbd7abb7e73d23ab cs_rlewis replied to the topic How do people buy multiple properties in the forum Help Needed! https://www.propertyinvesting.com/topic/5014274-how-do-people-buy-multiple-properties/#post-5014286 Wed, 07 Oct 2015 07:30:19 +0000 As for the westnblue story, do you think his high rental yields are constant year in year out? If he’s bought in a mining town then perhaps the rental yields will decrease once a boom has finished – hence why hes only fixed his rates for 2-5 years.

]]> dd4c95fa7ecbfbc7acccd57b53e3718d cs_rlewis replied to the topic How do people buy multiple properties in the forum Help Needed! https://www.propertyinvesting.com/topic/5014274-how-do-people-buy-multiple-properties/#post-5014282 Wed, 07 Oct 2015 04:15:01 +0000 Hi Benny thanks so much.
I read both posts. I now realise that buying a $338K place for about $330/week is not ideal on a $200K loan. It would be much wiser to haggle the price to $318K, and aim for a rent of $350 upwards. At least then I’ll be heading in the right direction

]]> 3d64ccd4363d3b5bf3028cf4f380de02 cs_rlewis started the topic How do people buy multiple properties in the forum Help Needed! https://www.propertyinvesting.com/topic/5014274-how-do-people-buy-multiple-properties/ Wed, 07 Oct 2015 01:56:22 +0000 Hello everyone, Ive been doing quite a bit of reading lately and i cant seem to grasp the idea of people buying multiple positive cashflow properties.
I will explain my situation that Im currently in.
I have an investment property that is positive, about $1K a year, with approximately $150K in equity.
Say I take a line of credit equity loan out of…[Read more]

]]> a8e2d14755b10f027aeb4d622bf88cea cs_rlewis replied to the topic Sold my investment property - Are these selling costs tax deductible? in the forum Help Needed! https://www.propertyinvesting.com/topic/5009430-sold-my-investment-property-are-these-selling-costs-tax-deductible/#post-5009506 Thu, 25 Jun 2015 13:39:12 +0000 Hi terry they were the fees charged by my settlement agent.

]]> 62c5a0008fa964c7dcbd08ee4210ff21 cs_rlewis replied to the topic Sold my investment property - Are these selling costs tax deductible? in the forum Help Needed! https://www.propertyinvesting.com/topic/5009430-sold-my-investment-property-are-these-selling-costs-tax-deductible/#post-5009496 Thu, 25 Jun 2015 08:28:09 +0000 Thanks, even the fees charged by my bank from paying out the loan are capital costs?

]]> 2ab3597e52771f31e9019f49875cf813 cs_rlewis replied to the topic Sold my investment property - Are these selling costs tax deductible? in the forum Help Needed! https://www.propertyinvesting.com/topic/5009430-sold-my-investment-property-are-these-selling-costs-tax-deductible/#post-5009489 Thu, 25 Jun 2015 07:40:27 +0000 So your saying the fees charged by my settlement agent are not tax deductible, but the ones by my bank are.

Thankyou

]]> 2705cc79b46515c5ffcbe55b5e3ee376 cs_rlewis replied to the topic Sold my investment property - Are these selling costs tax deductible? in the forum Help Needed! https://www.propertyinvesting.com/topic/5009430-sold-my-investment-property-are-these-selling-costs-tax-deductible/#post-5009465 Thu, 25 Jun 2015 06:30:43 +0000 Sorry but I didnt really understand your answer.

]]> 0dc5949959b2c40fb62d4361a33d48d4 cs_rlewis replied to the topic Sold my investment property - Are these selling costs tax deductible? in the forum Help Needed! https://www.propertyinvesting.com/topic/5009430-sold-my-investment-property-are-these-selling-costs-tax-deductible/#post-5009445 Thu, 25 Jun 2015 05:43:02 +0000 thanks but the information you have given me I already know.

]]> 0f03888c7dd512d51b2f3278997f836e cs_rlewis started the topic Sold my investment property - Are these selling costs tax deductible? in the forum Help Needed! https://www.propertyinvesting.com/topic/5009430-sold-my-investment-property-are-these-selling-costs-tax-deductible/ Thu, 25 Jun 2015 04:39:08 +0000 Hi guys just wondering if these costs are tax deductible – I got charged these by my settlement agent.
Settlement fee

Disbursements:
Landgate seach fee
bank cheque fee
postage and courier fee
telephone and fascimile fee
miscellaneous and photocopying fee

I also got charged a land title office charge and an attendance fee by my bank when my loans…[Read more]

]]> c49d523b7916404cab44902f860092e2 cs_rlewis replied to the topic can i claim interest as a deduction on an off the plan apartment in the forum General Property https://www.propertyinvesting.com/topic/4992111-can-i-claim-interest-as-a-deduction-on-an-off-the-plan-apartment/#post-4992120 Mon, 23 Jun 2014 04:37:55 +0000 thanks yes ive been doing some research on the internet and consensus is if the property is for investment purposes then there shouldnt be a problem.

]]> a30a98994158dcf27784287dab3f69a7 cs_rlewis started the topic can i claim interest as a deduction on an off the plan apartment in the forum General Property https://www.propertyinvesting.com/topic/4992111-can-i-claim-interest-as-a-deduction-on-an-off-the-plan-apartment/ Mon, 23 Jun 2014 02:49:43 +0000 Hello fellow investors,
My off the plan apartment investment is in the early stages of construction and wont be completed till the end of the year. I have been paying off the little loan i took out to cover the deposit for the last year… My question is can i claim the interest repayments as a tax deduction this coming financial year?

Cheers

]]> a141ac527ca61ab41d3c314858d938bf cs_rlewis replied to the topic Should I sell? in the forum Help Needed! https://www.propertyinvesting.com/topic/4410903-should-i-sell-5/#post-4700341 Wed, 02 Apr 2014 03:21:48 +0000 cheers ill have to look into the break costs of the loan. I think say if interest rates rise by a 1% this time next year, i think even if only slightly negatively geared i wont mind as much if the capital appreciation goes up. Maybe ill wait for another 3 years, so fix the loan again next year for about 2-3 more years then sell at the end of that period.

]]> 3fb9c4b9f2c3e84f262849df9f09c35d cs_rlewis replied to the topic Should I sell? in the forum Help Needed! https://www.propertyinvesting.com/topic/4410903-should-i-sell-5/#post-4700338 Wed, 02 Apr 2014 01:29:07 +0000 Hi thanks for the reply,
Ive been renting the cottage home for about 1.5 years, and currently ive fixed the interest rate until june 2015… Ive recently increased the rent by 20$ a week after putting in two air conditioners.
At the moment im renting a place in the cbd of perth, and i really like it there so have no plans to move. My job is very…[Read more]

]]> 27d628b6a3827825013602be3a536047 cs_rlewis replied to the topic Bought off the plan in April, still no construction in the forum Help Needed! https://www.propertyinvesting.com/topic/4410261-bought-off-the-plan-in-april-still-no-construction/#post-4696277 Thu, 14 Nov 2013 06:08:00 +0000 Hi thanks for that info it certainly helped. There is a sunset clause but as I signed the contracts back in April I forget off the top of my head, I'll have to go back over the contract, but it is about 2-3 years from memory.

]]> f13a9d5eb8e4fdc7f0fb2432c808aadb cs_rlewis replied to the topic Bought off the plan in April, still no construction in the forum Help Needed! https://www.propertyinvesting.com/topic/4410261-bought-off-the-plan-in-april-still-no-construction/#post-4696273 Wed, 13 Nov 2013 05:41:06 +0000 thx for the reply,

yes it seems now that i have signed the contract, they have my money and can do what they want.
Hence my inclination to call up and act as a buyer, and then fish out some information on the progress.

]]> 80a3090478a3e8f3f163a2bed6d1e0cd cs_rlewis replied to the topic the use of capital gains in the forum Help Needed! https://www.propertyinvesting.com/topic/4410054-the-use-of-capital-gains/#post-4694983 Tue, 01 Oct 2013 05:28:19 +0000 I called up the bank whom my loan was with and they said I needed to pay off my loans if I decide to sell my property basically because that was the security that the loans used. 

]]> 77974e8de5ed89fe1098680ad3108db7 cs_rlewis replied to the topic the use of capital gains in the forum Help Needed! https://www.propertyinvesting.com/topic/4410054-the-use-of-capital-gains/#post-4694978 Wed, 25 Sep 2013 06:40:14 +0000 Thanks for your reply.
I assume that i am in option 2. 
I have one investment property and am currently building another property as my home of residence. I used the equity in my investment property for my deposit for the property i am currently building. 
So if i sold my investment property, can i use any capital gains however i like? Or do i…[Read more]

]]> 6b11f34f33aae33c342feed4cbcda162 cs_rlewis replied to the topic Whats your experience in obtaining finance. in the forum Finance https://www.propertyinvesting.com/topic/4408614-whats-your-experience-in-obtaining-finance/#post-4685535 Mon, 04 Feb 2013 01:53:04 +0000 According to my broker he said some lenders wont do an interest only loan if the loan is quite high (mine is 372K$). He said pay some of the priniciple off it first and then in time I can switch back over to interest only. 

At some point ill buy a home for me to live in, maybe when i get a family, which wont be for some time! The property im…[Read more]

]]> d5d156c4e9ea3623fa84cfe779bc06d6 cs_rlewis replied to the topic Whats your experience in obtaining finance. in the forum Finance https://www.propertyinvesting.com/topic/4408614-whats-your-experience-in-obtaining-finance/#post-4685533 Sat, 02 Feb 2013 08:44:42 +0000 Yes this is an investment purchase. I have no other debt other than my other investment property. No credit cards, no car loans, nothing. Im currently renting.

]]> 457eb4fcc97d6c2225c17a2d33ab4016 cs_rlewis replied to the topic Whats your experience in obtaining finance. in the forum Finance https://www.propertyinvesting.com/topic/4408614-whats-your-experience-in-obtaining-finance/#post-4685531 Sat, 02 Feb 2013 02:09:36 +0000 Yes my broker thinks the loan should go through. He said paying principal and interest initially until the loan goes down, and then later i can fix the rate. 

]]> 64a52dd6aa4ea716198ec106ad166196 cs_rlewis replied to the topic Whats your experience in obtaining finance. in the forum Finance https://www.propertyinvesting.com/topic/4408614-whats-your-experience-in-obtaining-finance/#post-4685526 Thu, 31 Jan 2013 04:41:43 +0000 Cheers for your responses,
I will double check with my broker the reasons, the loan application hasnt gone through yet.
So if a loan gets disapproved then this goes against your credit rating? I wasnt aware of this.

]]> c0bdcf9f31ee253412111422555b494e cs_rlewis replied to the topic Loan to pre pay interest in the forum Help Needed! https://www.propertyinvesting.com/topic/4408479-loan-to-pre-pay-interest/#post-4684154 Thu, 17 Jan 2013 05:53:30 +0000 cheers

]]> 6aec82070863ef652a17849f8c629028 cs_rlewis replied to the topic Loan to pre pay interest in the forum Help Needed! https://www.propertyinvesting.com/topic/4408479-loan-to-pre-pay-interest/#post-4684150 Thu, 17 Jan 2013 03:27:35 +0000 well i dont know who to believe anymore.
negatively geared people say its a good idea, positively geared people say its a bad idea.

]]> 198fdbd2b562dd493a8c8869410a215e cs_rlewis replied to the topic Loan to pre pay interest in the forum Help Needed! https://www.propertyinvesting.com/topic/4408479-loan-to-pre-pay-interest/#post-4684148 Thu, 17 Jan 2013 03:09:40 +0000 Assuming that i would take out a personal loan, then these interest rates are usually about 10-13%, which is higher than my mortgage (About 5.4%).
The reason I would pre pay is to lower my taxable income because my property is negatively geared.

Can I claim the interest and loan fees as a tax deduction?

]]> 87141f412ebcbc6928b1dfffb2ee73d5 cs_rlewis replied to the topic Quickest way to get missing rent? in the forum Help Needed! https://www.propertyinvesting.com/topic/4407359-quickest-way-to-get-missing-rent/#post-4675454 Fri, 17 Aug 2012 04:13:50 +0000 can you claim this on insurance?
i know my insurace company doesnt charge me an excess for rent in arrears

]]> 06e348c7044297a774519b1e8ae891fc cs_rlewis replied to the topic Is my property cash flow positive? in the forum Help Needed! https://www.propertyinvesting.com/topic/4407357-is-my-property-cash-flow-positive/#post-4675441 Fri, 17 Aug 2012 04:10:51 +0000 M.Investigator wrote:
Personally I'm on the positive geared camp, like Steve McKnight. I also advocate reading his book. It's a good philosophy.

I don't like losing money and negative geared is more risky in my opinion because you're hoping that appreciation will occur and will make you money some time later down the track. I like the passive…[Read more]

]]> 7c4de3cdbe34a8deb0b6b096fa0716ba cs_rlewis replied to the topic Is my property cash flow positive? in the forum Help Needed! https://www.propertyinvesting.com/topic/4407357-is-my-property-cash-flow-positive/#post-4675433 Wed, 15 Aug 2012 03:31:09 +0000 streamlineinvesting wrote:
I have a feeling that you are almost hoping a property is negatively geared? Even if the property is positively geared, you can still claim all of the expenses you have? And you will still have to declare your rent on your tax return anyway? I mean sure you may pay more tax with a positively geared property, but you…[Read more]

]]> ab0df9f3f238d2723f8c556f00e2c5c8 cs_rlewis replied to the topic Is my property cash flow positive? in the forum Help Needed! https://www.propertyinvesting.com/topic/4407357-is-my-property-cash-flow-positive/#post-4675429 Tue, 14 Aug 2012 05:50:26 +0000 Cheers for that,

In that case its definately negatively geared. Already paid $2k in rates, and property management fees for just the first month are about $1k due to the leasing fee and the property getting cleaned. Plus other ongiong costs in the next 10 months should definately up my deductions.

Thanks

]]> a592cdc5c6e37eea3abf7ba70964446e cs_rlewis replied to the topic noob question on selling in the forum Help Needed! https://www.propertyinvesting.com/topic/4401881-noob-question-on-selling/#post-4636156 Wed, 17 Nov 2010 06:37:53 +0000 Scott No Mates wrote:
generally, the agent will charge % of the sale price achieved, the marketing costs. Your solicitors/Conveyancer will charge their costs + disbursements, bank will charge their debt, discharge fees & state charges. You get the rest.

thanks for the help, so out of a $360K selling price, how much would i get in my pocket…[Read more]

]]> 00a687908d76f40b8e1e1dcb8fb6ebdf cs_rlewis replied to the topic noob question on selling in the forum Yes just a rough breakdown https://www.propertyinvesting.com/topic/4401881-noob-question-on-selling/#post-4636154 Sun, 14 Nov 2010 23:26:06 +0000 Yes just a rough breakdown would be great of the selling costs only, so not sure if the building costs are applicable.

Cheers

]]> 8a5a804d1ac0f576e1d34ecf67028d1c cs_rlewis replied to the topic First Home vs Investment Property in the forum You need to choose which one https://www.propertyinvesting.com/topic/4401880-first-home-vs-investment-property/#post-4636150 Sun, 14 Nov 2010 10:30:45 +0000 You need to choose which one puts less strain on ur wallet.
Your idea in A is a good one but what if u dont always have a tennant in there, would you be able to afford 2 mortgages?
I think B or C would be the best option.

]]> 722e3e09c7828ab004da6da2e05632e7 cs_rlewis replied to the topic are appartments contracted to hotels a good investment? in the forum Help Needed! https://www.propertyinvesting.com/topic/4399516-are-appartments-contracted-to-hotels-a-good-investment/#post-4622105 Fri, 16 Apr 2010 00:57:56 +0000 cheers for the advice, yes i have been researching lately in rurual towns, seems like a good way to start.

]]> 65d3be59946d5b4065791c1d2b96e004 cs_rlewis replied to the topic are appartments contracted to hotels a good investment? in the forum Hi Eric, thanks for your https://www.propertyinvesting.com/topic/4399516-are-appartments-contracted-to-hotels-a-good-investment/#post-4622103 Thu, 15 Apr 2010 05:17:54 +0000 Hi Eric,thanks for your advice.The trouble is i have about 23k (and rising) in the bank and most properties these days are in excess of 250K, so not many banks are going to lend me 90-95% of the sell price.I really need an investing partner, my friends all have mortgages and cant afford it, and my dad already has his own properties to take care…[Read more]

]]> e737b22ad01263006e7c3518f10760d2 cs_rlewis replied to the topic are appartments contracted to hotels a good investment? in the forum thanks for the advice. yes i https://www.propertyinvesting.com/topic/4399516-are-appartments-contracted-to-hotels-a-good-investment/#post-4622101 Thu, 15 Apr 2010 04:36:19 +0000 thanks for the advice. yes i didnt think they were good investment opportunities. It just seems so difficult to get started in the market these days, especially if you are on you own. Even 1 bedroom apartments cost more than $300k, which means you basically need to have a $100K salary to afford it.Ive run out of ideas of how to get into the…[Read more]

]]> b35110309ff75894d5bab2271bc66282 cs_rlewis replied to the topic noob question on finance deposits in the forum so how does one (steve https://www.propertyinvesting.com/topic/4399484-noob-question-on-finance-deposits/#post-4621822 Tue, 13 Apr 2010 04:41:04 +0000 so how does one (steve mcknight) find the finance to buy 60 properties in one day?

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