Total Members: 151,037

dtrain28

  • Hi Guys & Girls,

    I will be putting my IP up for sale in a few months. Prior to listing I’ll spend a week or two getting the property in tip top shape. Current market appraisals vary between $290,000 to $325,000. It’s an old housing trust home (3 bed, 1 bath) with kitchen & bathroom renovated.

    I am happy to put $5,000 into getting it ready, but…[Read more]

  • Bump.

    So I have decided to pull the pin and sell my ‘now’ cash-flow positive property (yep, you may shake your head).

    There is a lease on the property until October 2016. Can I evict the tenant prior to this or at least let them know my intentions and give them the option to move if they can find another property before the lease expires?

    Cheers,

  • The property would suit either first home buyers or investors due to good rent return. I am leaning towards keeping the tenant on, however in doing so the advertising photos wouldn’t do the house justice.

  • Hi Guys,

    I’m looking at selling my IP (Mt Barker SA) due to a change in circumstances. Property is cash flow positive ($325 weekly rent) and value of the property is approx. $310,000 to $320,000.

    Just wanting some advice regarding selling it.
    Should I try and sell it currently tenanted? or wait till the lease is up do some touch ups and then…[Read more]

  • dtrain28 replied to the topic Brisbane or Adelaide? in the forum Help Needed! 4 years ago

    It is in Mt Barker. Close to the town centre, schools, etc.

    However I am looking at a PPOR in Bridgewater.

  • dtrain28 replied to the topic Brisbane or Adelaide? in the forum Help Needed! 4 years ago

    I have a I/P in the Adelaide Hills (30mins from the CBD) in a fast growing area.
    Yearly rent = $16,900. Estimated value = $305,000 – $310,000 so getting good rental yield.
    A number of properties around it are been bulldozed & 2 houses put on the blocks.

    Not sure if I should hang on or get out and use the funds for a new PPOR.

  • If the INVESTMENT loan is in both names, but you solely own the property & then the total interest on the investment loan will be tax deductible providing the value of the loan on the finance restructure has not increased. example:

    Prior to restructure: Investment Loan Value = $100,000
    After restructure: Investment Loan Value – $150,000
    Only 2/3…[Read more]

  • If the INVESTMENT loan is in both names, but you solely own the property & then the total interest on the investment loan will be tax deductible providing: the value of the loan on the finance restructure has not increased. example:

    Prior to restructure: Investment Loan Value = $100,000
    After restructure: Investment Loan Value – $150,000
    Only 2/3…[Read more]

  • dtrain28 replied to the topic Interest Only Rates in the forum Finance 4 years, 5 months ago

    It has been an investment property then PPOR and now back to investment. Looking at 1 year, as my remaining fixed loans come due next year at that point, I will consider selling or moving all to interest only. Just want to the option so I can divert cash flows else where if I want (or will continue to pay down the principal). I also have an offset…[Read more]

  • Hi All,

    I have a P & I loan coming out of a fixed term soon, I am wanting to convert this to interest only for 1 year. Unfortunately I can’t find any information from my bank regarding interest rates for this option. I would have assumed the interest rate would be higher than the normal fixed rate. Would this be the case? My bank is Bank SA.

    Any…[Read more]

  • Personally I pay a small additional amount each month off my loan, mainly so that when interest rates rise again it won’t change my repayments.

    I’d suggest using an offset account for your spare cash, that way it’s still available to use and will reduce the interest on your PPOR loan. I don’t like the idea of re-drawing on 1 loan to purchases…[Read more]

  • Cheers for the replies.

    Having a PM won’t change the pet factor. I personally know people who rent through agents that have multiple pets that the agent doesn’t know about.

    All I can do is see what the place looks like upon inspection. Currently they are paying rent so that is a bonus.

  • dtrain28 replied to the topic IP with a pool in the forum Help Needed! 4 years, 8 months ago

    I currently rent a place with a pool. Prior to us moving in, the pool had to be drained and professional cleaned due to lack of maintenance while it was vacant. I’m sure the L/Lord is regretting the pool now, as it was a costly exercise.

  • I think it would depend on the area you are in. I was quoted the following in SA
    – 2 x Weeks rent for signing up a tenant + 1 week if they tenant signed a lease extension
    – Advertising at cost
    – 10% of weekly rent as on going commission

    I’m sure if you get a few quotes you could haggle with them.

  • Yep you will need to get a valuation to determine the value at the time it is turned into a investment, this will form your cost base for CGT purposes when you sell. Encourage the valuer to value it on the high side rather than low. You can do the valuation at a later date though.

  • Said neighbour is actually my brother. Her previously landlord said she had no issues in 7 years with her & always kept the place tidy & paid rent on time.

    It’s more the animals inside I’m worried about.

  • My property has a water tank on it, plumbed only to the laundry. I provided a garden hose for the tenant, and advised that I just let this run on to the lawn to water it (it’s all I did when I lived in the property and it worked fine).

  • I thought about investing in the Northern Suburbs, put holding off due to the upcoming closure of Holden. Not sure of the impact it will have on housing up there.

    Currently I have 1 rental in Mt Barker. Purchased for $270,000 in 2010. After doing a 10K of renos (carport & pergola) it’s now producing $325 p/w, a yield of 6% on my investment. I’d…[Read more]

  • Hi All,

    I am currently managing my own property. The renter originally said they had 1 rabbit & 1 old dog, which were all to be outside. From speaking with the neighbour recently, I have been told the pet situation is more like 6 rabbits, 2 dogs, 2 cats & 4 birds.

    I can’t inspect the property for another 2 months. Has anyone had any experience…[Read more]

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dtrain28

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