This one might be better in the Overseas Forum…

Hi AT

As has already been mentioned, your balance is certainly sufficient for a SMSF to acquire a property.

Let's pretend you opened a SMSF and bought one property with it, which paid itself off by the time you reached retirement age.  Could you live off the rental roll of this one property?  Well it depends on the rental yield, but generally…[Read more]

The power of leverage

I second the vote for Doug

And as soon as he is old enough (once he can walk it's fair game I think), expose him often to the concept of property investing.  Make it clear that to invest is a normal part of your family's life.  Take him round to help tinker in the gardens, let him see you installing a new curtain, whatever it takes. 

Do you mean to say that you have onsold a property via an option?  If so, you are not exempt from stamp duty in all states.  This is not my arena of expertise, but I believe you'd be ok in QLD but not in VIC or NSW.

Something to be aware of is that your insurer mighty charge you a higher premium if you are self-managing.

Hi Tomo

Steer clear. 

If you are going to find it tricky to buy the thing due to being able to borrow 50% at best, then anyone you hope to sell the property to in future would face the same difficulties.  In other words, it'll be hard to sell if you need to offload it.  This will affect its capital growth because there won't be lots of buyers…[Read more]

What state is the property in?

Generally speaking, the tricky part is that you can't kick tenants out due to pets.

I would take the next available opportunity to get in there and see for yourself.  eg, attend the next routine inspection with the Property Manager.  If you can see they are looking after the place, fine.  If they are not, so be…[Read more]

It's much easier to find properties that fit your wishes if you look at mixing a lot of strategies together, rather than expecting one strategy to do the job all by itself. 

Indeed that is expensive for carpet for one room.  Just get carpet suitable for a rental (ie polypropylene) and beef up the underlay.  It gives the impression that the carpet is cushier than it actually is, and also provides more insulation under-foot in the winter.

darkness72 wrote:
Hi Jacqui,

The Bungalow and house are all the one structure, but have there own separate external access doors and cannot be accessed between each other by an internal door.

Could you elaborate on the last comment "if council is not aware that the bungalow is a dwelling in its own right, that could open up its own separate…[Read more]

It is not the case that just because both dwellings are on the same title that council definitely won't charge you two sets of rates notices.

In SOME councils, they will absolutely charge you rates "per dwelling", regardless of whether it is on its own title.  The water company will do the same.  That stings.  One set of water service fees "per…[Read more]

It depends.  I've never looked into how an offset account would be treated…

Just like anything else – spread your risk. Don't store all you cash with one bank.  Have a bunch of fee-free accounts in different banks (banks that are not owned by the same mob).

You have debts that will take you a couple of years to recover from… why not hunker down and clear those debts first?

Hi Scott,

The objective is to have a sufficient income stream in your retirement years. So you want your rents to be sufficient to pay the bills and any outstanding mortgage repayment obligations and still have enough left over to support your own living costs. If you had a few properties you had owned for several years and slowly crept the rent…[Read more]

Further to what the boys have already said, it would be a good idea to speak with your intended broker before you commence hunting for the property, and be clear in understanding what name should go on the contract of sale, and what steps need to take place (and in what order). 

Hi Johann

I'm not disclosing where I am presently buying.  Not in my best interest to cause a flood of investor to buy where I am placing clients. 

The few places you're looking at are perhaps the wrong places.  In the right places, the golden equation is certainly there.  I'm finding plenty.