Sounds like you got a good deal on your hands, House Call!  Nice one!  Where are these flats of yours?

There will be a rent difference, yes. Of course there will.  However more concerning is the matter of demand.  The Armstrong Creek precinct is not small.  It will have a lot of houses in it, many of which will surely be rentals.  The overriding concern is whether renters will go to Armstrong Creek over Breakwater by default.

In my opinion the Breakwater area would be fine as a buy, renovate, sell area, but not so convinced about buy and hold.  If you were a tenant, would you happily live in an older place when brand spanking Armstrong Creek is virtually across the road?

Where is the land located?

Always IO loan with an offset account.  Always pay the interest as required, and funnel extra money into the offset, which holds off the interest.  Then you either leave the money in the offset to pay the property off one day, or pull it back out to use it as a deposit on another property.

Always IO loan with an offset account.  Always pay the interest as required, and funnel extra money into the offset, which holds off the interest.  Then you either leave the money in the offset to pay the property off one day, or pull it back out to use it as a deposit on another property.

hmmm i've encountered those before.  there's an estate like this in vic called Moorookyle.  It's in Tarneit.  it appeared to me you had to pay for the stupid gym even before they'd built it, and you had to pay for it regardless of whether you used it.  These sorts of estates really annoy me, because as far as I can gather, the fee includes the upk…[Read more]

Hi NickWhy not start the hunt as follows:Starting with http://www.realestate.com.au ;Figure out how close to the city you could afford to buy (leaving money to renovate with!).  Investigate units and houses separately.Then work out the price difference to buy a place that looks like it needs work, compared to an already renovated place.  Then work out i…[Read more]

Did you pay stamp duty at the time of purchase.  That is a cost.  Have you factored that in?  If not, are you sure you wouldn't actually make a loss on this property?Remember property goes in cycles.  Your suburb may well be on its flat year and be due for a growth spurt….

I'm tipping the pool and gym are not the only common parts.  There is no doubt a shared driveway or something like that, yes?  If so, logic prevails that you have to pay strata fees no matter what.  Remember that the driveway sits on common land which has to have public liability insurance – and you have to pay your share. 

Hi -refer to the recent comments in this thread;https://www.propertyinvesting.com/forums/property-investing/help-needed/4332556The airport is just another feather in Corio's cap.  Granted, the Geelong area is a lot of years behind Sydney, but if you look at suburbs like Marrickville: Marrickville was a very industrial looking working class…[Read more]

Remember that you have 6 years to move back into the house, after which you can sell it CGT  (capital gains tax) free (that is only relevant if you actually decide to sell). Otherwise, you'd be subject to CGT, which would be on 50% of the gain, if you've held the property for more than 12 months.Take a look at the land you're sitting on.  A coupl…[Read more]

I started a thread about investing in dodgy suburbs a little while back.  People referred to valid cases such as Richmond VIC.  Once upon a time, you would not get of the train in Richmond.  No way.  Now, it's a lifestyle suburb and super expensive.   Footscray is following suit.  Even Frankston has gone up in value despite is dodgy profile…[Read more]

by the way i obviously intended to say; if the council rates are $900 a year, then per week, it's $900/ 52. 

How to do the numbers?  Just find out what ALL the bills are, and work out how much each bill costs on average each week.  For example, if the council rates are $900 a year, then per week, it's $900 per week.  Then do this:Expected weekly rent minusTotal of weekly billsminusHow much interest you'll have to pay the bank each weekIf the result is a…[Read more]

Ahh very nice suggestions.  I'd love that contact, if you could provide?  Feel free to private message me if you prefer not to post it on this thread.Hm, now we just have to figure out how to lift brick houses up and shift them into the back yard.  Hmmmm.

First call  the council and find out if it would comply with the subdivision rules for that area.  eg there might be a minimum block size, minimum backyard size per dwelling etc.The subdivision itself will probably set you back less than $10k, but call a surveyor in the area and ask.  There might be extra "requirements" imposed upon you by co…[Read more]

Why would you pay it off?  Just leave the money in the offset.  You might change your might about your strategy between now and then.  If the money is in the offset, the savings on interest is the same as if you'd paid it off anyway.Wow your accountant should be fired.  If you are making a loss, it is a LOSS.  The tax department will not give you…[Read more]

ps 99% of Hoppers Crossing is so safe it is boring.  Steer clear of the birdsville estate, which is the area south of the Werribee Plaza where all street names are named after birds.  That's the trouble area.

No, Laverton is not going to get a shopping centre any time soon, and the area between Old Geelong Road and Leakes Road will house a massive commercial park.  I have spoken extensively to Wyndham City Council about all this.  It is considered that the Williams Landing shopping centre will service the residents of Laverton.  To be fair, Wil…[Read more]