Originally posted by as41:
a 3 bedroom room brick house for removal.

Snowflake

A removable brick house ??????????

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

Hi Bacchu,

Select a good PM and they will do the necessary checks and balances for you.

A good PM will check for references and the tenants data base to see if there is any ‘history’ with the prospective tenant. They should then talk you through their findings and allow you to make a decision based on their research.

As for low income earners…[Read more]

Hi as41,

I just spent an hour with my broker and we looked at all sorts of issues relating to finance for my property portfolio.

We looked at extending LOCs and the impact of this on future borrowings, we looked at options with respect to releasing titles and the impact this would have my borrowings, we looked at the impact of changing existing…[Read more]

For a starters get onto your property manager (BIG TIME). They have a responsibility to chase unpaid rent and they know the legal requirements for this to be effected as a matter of priority.

I would be sending your PM a letter post haste explaining in no uncertain terms that they have not been fulfilling the requirements of a PM.

As an…[Read more]

Hi Snowflake,

The process you are referring to has been called ‘leap frogging’ by Peter Spann – in essence what you are trying to do is accumulate property over time by using the income and equity from the portfolio to leverage into other property.

You currently at the initial stages of this process and it is here that the process is usually the…[Read more]

HI Giddo,

Fences are usually paid for on a shared basis to a costing which is typical for the council concerned.

Retaining walls will also come local government by-laws and thus the relevant council is your best source of information.

By way of example Baulkham Hills Council has a fact sheet available at the following which may be of…[Read more]

Originally posted by AnGeLcAkE:
1. Gold Coast have a quite a few flood prone areas. Am I able to add a clause making the contract conditional on a flood report (as well as pest&building)?

Yes

2. The standard contract protects the seller under clause 7.4(1)(c) seller will be capable of completing this contract (unless seller dies or becomes…[Read more]

As stated above Kambalda is not a place for investors who are looking at stability of investments.

The nature of the community and its reliance on the vagaries of the mining game means that property prices and rents are generally unstable.

For some school population stats for the two schools in the area look…[Read more]

Hi Marty,

Notwithstanding Paul’s comments about cutting your losses and moving on – which in some respects may be the easier thing to do in the long run.

Nevertheless I am curious as to why you are pursuing the agent when it is the vendor who signed the contract with AC included. It would seem to me that this is your best avenue of recourse. The…[Read more]

Hi Craig,

There are a few points needed here.

While rental yields for an area can be a useful guide this does need to tempered with the fact that individual properties can have a rent outside the norm. This is where solely using median prices and rents can be somewhat problematic.

The key question that an investor needs to answer is whether or…[Read more]

Hi Zach,

Given that the property was your PPOR you can rent it out for up to 6 years without incurring any capital gains tax, provided you do not declare another PPOR during this period of time.

Whether you sell or not is entirely up to you. As it currently stands, and based on the information provided, it would seem that this property provides…[Read more]

Hi Craig,

In a sense you are correct – however the key issue is to find a cashflow property (if that is your preferred investment strategy) where the tenant is paying market rent. This means that should this particular tenant leave then you should still be able to find another tenant paying the same rent (or better) to replace them thus helping…[Read more]

Hi Steve

Eventhough Julia is not in Brisbane (just north) her expertise and knowledge would far outweigh any ‘cost’ of travelling a little further.

A number of people I know choose their accountant strictly on the basis of the capacity to deliver. It usually only needs the odd meeting (depending upon your circumstances) and the remainder can be…[Read more]

Hi Steve,

Give Julia a call. Julia used to post here sometime ago and certainly showed coonsiderable knowldege while present.

Her website is http://www.bantacs.com.au (not sure about the au)

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

Originally posted by ozi:
Hi all,

The marketing company selling the apartments is in the process of finding finance for her. They have already been knocked back from 4 of the banks and are trying another one. They say that finance should be approved some time this week.

Hey Ozi,

It seems the solicitor was asleep at the wheel all along.

The…[Read more]

Hi Clair and Jenny,

To me it sounds as if there are more important matters for you to research before you even start looking at properties.

Issues relating to finance, taxation, asset protection and ownership are a few that quickly come to mind.

Given the circumstances outlined (two unrelated people, one of whom having a spouse) does create…[Read more]

Originally posted by mogul1975:
Derek,

I’m not sure I understand your rationale.
1. I intend to sell my IP’s to repay my mortage on PPOR.

Hi Mogul,

This part of the plan was not evident to me in the initial post, hence the belief you were considering a refinance IPs to pay out PPOR process which is a question often asked here.

The other…[Read more]

Hi Milnev,

If you do rent out your PPOR then you will be able to claim all allowable costs associated with this property as deductions. BUT temper this thought with the longer term impact of capital gains tax that may come into play.

Some quick comments that will improve your cashflow.

Investment Property/ies
Are your loan repayments interest…[Read more]

Hi Macwa,

I use a basic excel spreadsheet for each property and hand the information to my accountant at tax time. The spreadsheet really only serves as an electronic piece of paper – but it does the job perfectly.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

Hi Mogul,

As the purpose of your refinancing is to ‘buy out’ your PPOR the additional or transfered borrowings will remain non-deductible.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958