[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

February 7, 2017 - 7:49 am

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?

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

February 5, 2017 - 10:30 am

just checked the lease. It states the tenant must pay for the gas.

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

February 5, 2017 - 8:10 am

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.

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

October 8, 2015 - 10:38 pm

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.

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

October 8, 2015 - 3:09 pm

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 off the plan. If the numbers stack up and you feel its a cheap buy then go ahead.

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.

• This reply was modified 8 years, 7 months ago by  cs_rlewis.

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

October 8, 2015 - 1:00 pm

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 covering your equity loan as well as the $200K loan.

My 1st investment property it started out roughly evenly geared- but each year I was losing money so I decided to sell, made about 90K$ in three years and put it towards another property with better numbers- although im only ahead $1K, rents are low in Perth at the moment but I believe it has upside. So I would say the property you are looking to buy would not be the worst, just as long as you are sure it has reasonable growth.

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

October 7, 2015 - 6:30 pm

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.

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

October 7, 2015 - 3:15 pm

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

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

June 25, 2015 - 11:39 pm

Hi terry they were the fees charged by my settlement agent.

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

June 25, 2015 - 6:28 pm

Thanks, even the fees charged by my bank from paying out the loan are capital costs?

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

June 25, 2015 - 5:40 pm

So your saying the fees charged by my settlement agent are not tax deductible, but the ones by my bank are.

Thankyou

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

June 25, 2015 - 4:30 pm

Sorry but I didnt really understand your answer.

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

June 25, 2015 - 3:43 pm

thanks but the information you have given me I already know.

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

June 23, 2014 - 2:37 pm

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.

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

April 2, 2014 - 3:21 am

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.

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

April 2, 2014 - 1:29 am

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 stable, and i believe the cottage home has got most potential for capital growth, the apartment costed 345k$ off the plan which is just out of the CBD, so i think thats pretty good value, once its finished at the end of the year id be guessing it would be about 360K.

Ryan

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

November 14, 2013 - 6:08 am

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.

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

November 13, 2013 - 5:41 am

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.

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

October 1, 2013 - 5:28 am

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. 

[cs_rlewisParticipant@cs_rlewisJoin Date: 2010Post Count: 53]

September 25, 2013 - 6:40 am

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 need to pay off my equity loan.