Hey the $5000 for your house for the 10 days sound great.

Thinking spare bedrooms, maybe $100-$150 a day, for 10 days $1000 – $1500!!!!!!!!!

Hmmm.

hrm

JJ &Jo,

Congrats on a great profit.

The are tax issues that should be considered too.

Who claimed the tax deductions?

What is the CG?

Recommend you both see an accountant.

hrm

John,

Good story good lesson.

You never know when you need insurances.. Good management that you had it in place.

I wonder if the person who did the building report could be held responsible? Did they recommend that the HWS be removed ASAP?

I’d appreciate you advising us of the outcome from your insurance company.

Hope you get a tennant soon.

hrm

Hi Jae,

I think using the FHOGs to buy a property is an easy way to start.

I note thet you are single so perhaps you could get others to share the costs of the property.

You would have to live in the property for at least 6 months.(corrected thanks Simon)

AND. who knows when the grants will stop!!!!!!!

hrm

I guess another issue is security.

The wife and kids are secure in the vehicle.

Could be worth $10 a week!

hrm

Jason,

When and where please.

hrm

Games Accommodation?

Anyone know what is planned for the purpose built accommodation after the games.could this be an opportunity!

Tools: Perhaps a good time to take a holiday for $5K

hrm

Agree with MH, I would be surprised if you had to pay back the grant. Be honest and give them a call today.

hrm

Hi,

I think you need to ask your local council about these issues.

hrm

Paula,

Answers:

Offering $20K less, you don.t ask you don’t get. Make the offer and see what happens.

Depreciation. 2 types: building @2.5% per year, and fixtures like floor coverings, cupboards, appliances, light fittings, swim pool, security etc. variable rates.

Perhaps you could PM Scott at “Depreciator”, he’s a member on this forum and I…[Read more]

Hi Gatbe7,

Can’t recommend any REs but can recommend Astorb for help with Qld props.www.astorb.com.au

hrm

Agree with LifeX,

I would request the agent send me a copy of the report before I dismiss it. Lots of props have termite damage.

hrm

Paula,

Don’t forget depreciation. This could be significant for a fairly new building.

Also, Interest only loans help.

“everything I find is $20,000 too much”

Try offering $20K less!

As you have mentioned add value to increase rent.

hrm

Hi Puala,

What you are suggesting here is Vendor Finance I think.

The bank lends you $80K under a first mortage, and you seek the vendor to provide finance for the remainding $20K over what ever term you agree on.

Vendor finance would cost more perhaps about 2 percent above bank rates.

By financing the property this way would save on Mortage…[Read more]

OF,

I agree, great site heaps of info, and some very willing successful investors with diffent strategies, and alot more info than the S site.

Thanks to all concerned.

hrm

Ubique,

Perhaps this deal could suite a builder. He / she may be interested in the block at the back or the lot.

You could:

Email or fax a heap of builders,or

Advertise in the Saturday paper under investments/ development, or

Seek agents who have builders on their books and are looking for such properties.List with afew agents (conjunct,…[Read more]

Hi Ben,

Only suggestion I can offer is to contact the bank. There could be some extra charges with paying out your loan early.

Also,. Mortgage bal.=135,000, so if I payed 3000 per mth the balance would be zero in 45 mths.
You would have to pay interest costs too.

hrm

Hi Bloggs,

I bought a townhouse in Rimfire Walk Maribyrnong about 2 years ago for $333K. I tried to sell recently but could not get any offers above $300K.

This area appears to be saturated with a heaps of townhouses from a few developments that were completed in the last year or so.

Your development sound a bit different and may have water…[Read more]

GDay Mkc,

110 foot shed wow!

Storage sounds the way to go if there is demand. Perhaps Melbourneites could store their water toys, caravans etc.

Surely others on this forum could make some suggestions!

Perhaps this post will put the topic near the top to recieve some attention.

hrm

Hey Spider,

What about a simple Stat Dec signed by your tennants stating how long they have been renting and the amount they pay?

hrm