This house you're having built… you mentioned the mortgage is $410k, but what was the total cost of purchase?  Are you lanning to sell or keep it?  If you are planning to sell, maybe consider moving into it for a few days so it can be declared your PPOR and thus be CGT free.  Not convinced it's worth selling the house, as you'd be close to a br…[Read more]

Why would you stay with an agent that is known to use shonky tradespeople? 

Here is what the report says:"In April 2005, a tenant of a rental property in Ashfield was seriously injured after his hand struck and shattered the large glass panel that formed part of the front door. "I wonder if this is what actually happened, and if so, thanks very much Mister Tenant for maliciously damaging the property and then suing for…[Read more]

Remember to look into SMSFs (Self Managed Super Funds).  You can buy property through them.  A big benefit being that money going into a super fund is taxed at only 15%, and once it's there you can use it to buy property.  Conversely, money spent on property outside of a super fund is taxed at your marginal tax rate.  If you are in a high tax bra…[Read more]

My first thought is that you might want to check if it is actually cheaper to build a duplex than it is two separate houses.  If not, and if space permits, why not just build houses?  I would think the value would be higher than for attached dwellings…You don't necessarily need to split the title…. it is possible that you could keep the e…[Read more]

Hmm.  The rental return isn't great.  You are asking if you should deliberately take on a property that makes a loss and that the budget would be very tight as well.  I reckon you already know the answer to your question.

Yes.  I have used John Nelson from "Building Inspections Geelong".  Tel 0418 521 652.  He was fantastic.http://www.buildinginspectionsgeelong.communityguide.com.au/For pest inspections, I have used Lindsay Read from "Just Go Away".  Tel 0418 540 322 .  He was also fantastic.

You can't force him…But also, if he is really not interested, it doesn't mean you can't just invest without him.You mentioned his work is quite unstable.  Perhaps in that regard, taking on debt frightens him.  Perhaps this can be dealt with by creating a buffer (savings in the bank that can be used to make mortgage payments if he is without w…[Read more]

Have you had a depreciation schedule done on the property?  That'll claw back some tax….

Maybe they are not being completely truthful to the insurer about the nature of the tenancies Did you apply for the rooming house permit?  If so, why?  Much harder to get insurance and finance, as you are finding out.  Better to declare it a short stay and insure it through Terri Scheer or something.

1. Never heard of that…2. Sounds more like it to me!4. Have you asked the broker if he has a written statement from ANZ that he can provide, and if not, if he could ask ANZ for one?

Give GIO a try … they've been more useful to me than the other mainstream insurers.  You never know…

No worries.

Any particular reason why you are doing this?  Why don't you purchase a second place under your name only?

Thankyou heaps Paul

This company will insure you:http://www.terrischeer.com.auYou might consider getting your landlord insurance through them, but the building insurance through someone else (they're quite expensive for building insurance)

Wow Terry, sounds very awesome!  Care to share any details of these amazing investments your friend made?  eg area?  type of tenant the commercial property attracted?

There are properties with high yields, sometimes they come with high risk (eg property in towns that rely on one company or industry for employment…. so if that company moves out, your demand goes down and you struggle to find tenants).It doesn't take long to get a property to the "break even" point where costs equal rent.  So you pitch in som…[Read more]

  Thanks guys

Oh wow.  There goes my dreams of owning a big chunk of land then!