If you sell the property consider the effect this will have on Child endowement, Parenting payment pension and Child care benefits.
Also capital gains tax implications need to be considered.

look at the values of the other 11 properties as compared to what is owed. You may find you can sell a couple of properties and have enough left over after capital gains tax and debt is paid to get yourself out of the dilema you are now in.

http://www.residex.com.au
cheaper option buy API magazine it is usually in the back section
reiv in victoria sells 10 years of historic values

Capital gain = sell price minus base cost
Base cost is what it cost you to buy the asset usually purchase cost plus buying costs. If you make a capital improvement this may be able to be added to your base cost. however if you depreciate or claim buying costs as a tax deduction it is removed from your cost base.
Look up http://www.ato.gov.au for current…[Read more]

Squared area of each room . If you need carpet it is going to be quoted to you in Squared metres. Paint will be squared metres of walls.

try subscribing to http://www.apimagazine.com.au or buy it at the newsagent it is called Australian Property Investor Magazine.
A wedding is a very important event for your fiancee who has waiting for this event all her life. Be patient as the wedding will be the only thing on her mind at the moment. Once children are thought of your wife will want to…[Read more]

if the lawn mower person cut his foot off while mowing on your property who would he sue the property owner.

look at taking out Land Lords insurance to protect you from loss of rent, malicious damage, public liability and find a good real estate agent. If the one you have is not cutting it find a new one.

If you have the property managed by a real estate agent keep the property listed as available to rent.
You may be able to increase the new tenant’s start date so that the kitchen and bathroom are completed before the tenant moves in to reduce the disruption to the new tenant. The carport could be added to the lease agreement that you are going to…[Read more]

If you do not have lots of equity then selling will release not very much money as you will have to pay the bank back what you owe on the house and pay commission,title discharge,solicitor fees . If you rent you are missing the opportunity for capital appreciation of the home you live in which would be cgt exempt. Mortgage repayments would be on a…[Read more]

If you do the reno and then rent out the property the reno will be classified as an improvement and depreciation can be claimed over the effective life of the items. If you do a reno at the end the improvement costs can be added to your cost base. This means that your overall cgt will be reduced by the costs of improvements. However under tax law…[Read more]

As the dog could cause the neighbour injury it may help to explain the reason for the new fence is to protect the neighbour or their children from any potential dog attacks. It may be that you will have to go ahead a replace the fence at your cost to protect you against a duty of care public liability claim caused by a dog attack.

I look in the newspaper or real estate web sites for a similiar properties in the same area that is being advertised for rent to estimate the rental market.
Another way is to go to the area and look at the rentals the real estate office has.

non preserved payments are the payments you made with after tax money. When you work and have payments made by your employer the money hasn’t been taxed so $1 earned equals $1 invested. At a tax rate of 20% $1 earned is 80 cents invested and 20% taxed.
the unrestricted refers to non preserved payments prior to a law change in Jul 1999 where now…[Read more]

$20,000 at 7% interest is $1400 a year you could organise with the bank to reduce your repayments per year by through saving on your home loan interest. Another important factor is you are on a pension if you spend $1400 a year on a holiday from the interest savings that won’t be seen as income and the $20,000 paid off the loan won’t be seen as…[Read more]

Interest costs won’t apply until Settlement occurs. You may be able to use a deposit bond instead of cash and invest the 5000 in a bank account with the bank earning interest as collateral for the deposit bond. The bond would cost you to use it but it means you do not tie up your money / or you may have equity in another property you could use as…[Read more]

check out http://www.land.vic.gov.au in victoria I know it is ten years. click on contact link and you will get all the web sites for Australia’s valuer offices but I am not sure if you can purchase 10 years of data from the other states on CD.

You could buy a cheaper house say 50 km from Melbourne in SE suburbs at $170,000 and use all your resources to pay it off as quickly as possible.
Pay fortnightly rather than weekly. Once it is paid off you could sell it and use the proceeds to buy into a dearer house later. Deposit 5% plus hidden expenses is approx 5% to 6%
that is approx $17,000…[Read more]

Having spent four years without a wage I have decided to give up being employed for a wage completely and have started a business. A book that might be good is Rich Dad Poor Dad and cash flow quadrant. I haven’t made a profit yet but I am looking at the long term rather than the short term.

Property goes up in value by 7 percent p/a averaged over the longer term. To work out a future income you need to add the CPI figure to your today figure of required income every year and 7 percent every year for your property value and work out a yield based on probably 4% of the property value. A spreadsheet in excel can forecast this based on a…[Read more]