Hi Acey,

Appreciate your suggestion was about alerting the vendor to the agent’s actions.

However there were a couple of earlier comments that said the vendor could save on REA commission if a ‘private arrangement’ was made – hence my comments about the commission could still be claimed if the agent had introduced the buyer to the…[Read more]

Hi all,

Certainly souns like this agent won’t get many referrals from you elinitha.

With respect to bypassing the agent – I believe there is a little clause in the authority to sell which says something along the lines of ‘the agent is entitled to their (or part thereof) commission if they introduced the buyer to the seller.

As such in the…[Read more]

Originally posted by Sonja:
One thing to be careful of with evaporative A/C is that there should be a pipe that runs from the unit to the guttering. This is because there is a concentrated amount of salt in the water that is dumped when the unit is shut down. This can lead to rust problems both in and around the unit as well as the roof.

Hi…[Read more]

Originally posted by flanno40:
“sinking fund” ???

Hi Flanno,

Sinking Fund is a levy imposed by the Body Corporate which is put aside for upkeep projects on the complex.

Some BC groups have an annual levy that build up over time so that major works can be undertaken, often without the need to charge special levies in their place.

Anyone buying…[Read more]

Originally posted by kay henry:

*shoves Supa Freak off the perch* [angry2]

Hi Kay,

No need to behave like that there are still eight places left. [exhappy]

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Hi Kate,

Welcome aboard.

Suggest you look at books by Jan Somers (Story by Story and More Wealth from Residential Property) as a couple of good ones to kick your learning journey along. Even though Jan does advocate a different investment philospohy to Steve McKnight there are many paths to IP investment – and you may find it to your advantage…[Read more]

Hi Shane,

If you are cashflow focussed and have sufficent equity to use for other ‘deposits’ then maybe.

Edit Inserted – But bear in mind lenders don’t do 80% lends as such you will also use more equity than would otherwise be required.

However make sure you check the figures out to ensure the good gross figures do not become marginal net…[Read more]

Hi Yorker (and others),

More than happy to email the sheet out to anyone who thinks it may be of use – just email me with ‘subject excel sheet please’ and I’ll send it by return email.

It’s purely a recording tool and doesn’t do anything special – but it is free – and my accountant appreciates it. Saves him wading through all my…[Read more]

Originally posted by bennido:

The apartment is not new by any means. My guess is that it was built in the 70s or early 80s (I think). I have been trying to get hold of documents relating to the cost of contructing the building so I can claim my share of the building depreciation. But so far no luck.

Hi Bennido,

Given the property is built…[Read more]

Originally posted by camder:
Where do I go from here ?? We have bought 7 properties since 25th March and have now all settled. Spent $620,000 and all are “positive” IP’s. Looking to retire in 4-6 years and estimate paying down $200,000 of initial debt over 4years.
Some opinions pls ??? Should we keep buying or should we concentrate on paying the…[Read more]

Hi Wayne,

Have sent one through – hope it is of use.

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Hi Bennido,

Nonetheless I am in the hold camp too provided that you do have the capacity to service the shortfall long term – if you don’t then I would only consider selling after the 1 year and a day time line for the 50% CGT discount has elapsed.

In the interim you may want to consider (if you haven’t already done so) the following strategies…[Read more]

Hi BB,

Kalgoorlie is a community that has it’s own set of market conditions that are closely related to the performance of the mining sector. There have been periods with stellar performances and yet again periods with little or no growth. These cycles may or may not coincide with the wider property market.

Be aware that there are pockets in…[Read more]

Hi Newgen,

Some will some won’t.

Some PMs charge around $20 for an annual statement subject to your signature on the appropriate clause in the managememt agreement.

I prefer to keep running records so that I know what is coming in and going out and do not need the annual statement as provided by the PM.

Derek
derekjones1@bigpond.com

Property…[Read more]

Hi John and Lois,

Welcome aboard and I trust you will find a lot of useful information t o help you along your way.

Mt Isa has been discussed before and I suggest you do a search. Click on forum boards towards top left of your screen and the click on search.

Type in Mt Isa and a world of information will open up to you – some of if may be a…[Read more]

Originally posted by melbear:
Stamp duty savings are possible in Victoria for OTP purchases – I believe it is levied on what state the building is actually at….

Hi Mel,

Yes you are right Victorian Stamp Duty can be on a sliding scale if the buidling is part finished – another classic example of different rules for different states – don’t you…[Read more]

Hi Dom,

Doesn’t really matter – of more importance is whether or not you are over-capitalising for the area and what else is around. If you are building the only one – then it may suffer from resale problems.

As I understand it highset = two storey and lowset = single storey.

Derek
derekjones1@bigpond.com

Property Investment Support…[Read more]

Hi Afghangirl,

I have had some success by ordering the valuation myself from valuers who were contracted to my bank.

My broker supplied me with details of the relevant valuers in the area, I did some thorough research of the area by getting recent sale details from local REA and provided this to the valuer.

A little bit of extra work on your…[Read more]

Hi Shirl,

Based on your accountant’s comments it would appear that you are not yet ready to start the journey. There is little point in building your financial future if your foundations are not fully established – for me my focus would be on increasing your equity without detracting from the day to day business operations.

As a ‘devils…[Read more]

Originally posted by David e-noosa:
Because it was purchased by the owners of realestate.com.au who also own RPdata and took over ABR as well.

Thanks for that David – explains it all now[exhappy]

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.