Chris Units, apartments, townhouses etc rely on property prices increasing. From my experience (30 years) these types of properties appreciate very slowly compared to houses unless they have something unique ie near the beach, large size rooms, large private open space, etc. But they are generally less effort to manage.
Buying a house with land…[Read more]
From my limited observations property prices have not seen the escalations similar to Aust. Appartments and condo living is very common in KL and Penang and prices have risen marginally. I think props with land have the greatest potential to rise.However, t he Malaysian gov introduced the Malaysia my second home scheme to encourage for…[Read more]
Perhaps u need to decrease the cash required. Have u considered:depreciation, increasing the rent, decreasing other costs, refinancing.
The thought of loosing $15K would hurt, but as you said the unit is in a relatively good capitol growth area so u need time to increase the value.
Outgoings are rates, insurance, water, body corporate ie. all the thing u normally pay with residental.
u need to check out the lease to make sure they are paid by the tennat.
As the prop is a going concern (has a tennant), my understanding is that GST is not applicable for the purchase. If u are registerd for GST ( u must register if…[Read more]
I think that you have half of the formula: you’ve worked out what prices the house configurations could fetch….why not use the same source to get unit prices, ( or talk to local REs) then
Go see the local council and see if dual occ is feasible.
I think u can get the info from the State Revenue Office under Vic Gov web site. U can get a copy of title for a fee (less than $30 i think)from their website. U could have the info in minutes.
I understand your concerns when buying some distance away. I have bought several properties sight unseen by using people I can trust: people who live near by, RE agents, building inspectors, etc, or recommendations from friends or people on this forum.
A good property manager is essential for sound sleeping at nite.
Cool looking house.
From the pics it would appear the the garage was converted in to the flat!
I would convert the flat back to a garage if possible and give the place a good lick of paint. This should be less than $10K, and
for a modern look what about rendering the front?
Other option: do the garage and lick of paint and possibly…[Read more]
I have a dual key unit in Spring Hill, Brisbane. A dual key unit is basically two studio appartments with their own front door. I bought them as apair.
These unit were targeted for corporate customers on short leases. They are fully furnished. I purchased them for $330K, and they rent for $280 each per week.
Over the two years of…[Read more]
I too get regular alerts from Domain and others.
I have noted lately that they are using emotive (e.g realisation sale etc.)words to get our attention.
I don’t think there is anything wrong with the word liquidation.
hmackay replied to the topic Have I done enough to call it a day in the desert. in the forum Help Needed! 16 years, 3 months ago
I think you and the wlfe are in a fantastic financial position.
Your super payments from 2011 looks great and you will have substantial equity in your properties too.
I concur with KP’s comments.
I would suggest that you seek advice from some Financial Advisors.
I’m one for claiming all the depreciation I can.
This helps the cash flow but when you sell the amount of depreciation claimed on the property over the years is deducted from the original purchase costs to give your base cost for CGT calculations.
I think its better to take the deductions when you can (now) as the rules could change…[Read more]
hmackay replied to the topic Extra bedroom – Council/Body Corporate permission? in the forum Creative Investing 16 years, 3 months ago
I had a creative tennant in my Maribyrong townhouse who attempted to convert the tandem garage into a bedroom.
Checked with local council who advide that it’s a no no due to building regs, insurance etc.
I agree that we should look after the tennant.
They are the backbones of our investments same as employees at work.
I treat all people as equals till they prove differently , no matter their colour, race , religion etc just like my staffie (he will lick anyone to death).
There will always be some scum bags around but they are a very small…[Read more]
You have received several suggestions for the first property, but your responces do not appear to have covered any suggestions given, and
NOW you are jumping to another fire!!
No wonder you haven’t received any responces to your latest post.
We are here to help, but you gotta help yourself.
Originally posted by ozsparky200319117:
Hi Mortgage Hunter
I don’t think hmckay realises his wife & kids are a needless luxury! LOL
I could be offended by the above.
Could you please expalain what you mean?
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