Yep, what Scott said is bang on.  So it comes down to convenience.  eg having rent day lined up nicely with mortgage day.

Why not get the rent paid twice monthly?  That way your rent money is holding off some mortgage interest rather than sitting in the real estate agent's account.  It also means that you have visibility of any payment issues your tenants are having, sooner rather than later.

If you get paid twice monthly, I think the most convenient time to pay…[Read more]

Hi Dave,

The short answer to your question is "yes", as Buyer's Agents do indeed assist with hunting down property.  I'm not 100% sure what sort of help you are after since you seem pretty new to the forums so I don't know much about where you are at with your investing.  (?)

Perseum wrote:
What I need help on is this- Am I better off leaving it under one title and going dual occupancy, or, would I be better off subdividing and holding two titles?  Are there any benefits in either?  

It depends what you plan to do with it.

If you intend to hold onto it and pull equity out, it is worth less to you as single title…[Read more]

dave70insydney wrote:
What is the average amount you pay for property management ?

Hi Dave

The standard fee is normally around 7% plus gst.  More remote locations charge more.  If you have a few properties managed through the one agent, you can negotiate the rate down a little.  Emphasis on a little.  You don't want to be paying so little…[Read more]

Ahh good tip Dave!

ryan mclean wrote:
I have't got the magazine yet but i'll be getting it to read over the Christmas break

It was the March 2013 issue Ryan!  If you don't have it as yet, I'm not sure your local newsagent will still have it in stock

Just bumping this thread because there is no shortage of people out there losing money on backyard subdivision projects at the moment.  Be sure to due your proper due diligence when considering this sort of thing.  For example, chat to council to understand minimum block sizes, how much "private open space" each lot must have, minimum driveway…[Read more]

Gizzy wrote:
I would like to have at least 8 investment for our retirement as this is what I have been told we should need to retire happy.

Hi Gayle

Not sure where that figure came from, but the number of properties isn't the model to stick to… try thinking instead in terms of the total net cashflow position.  ie Rent minus…

Among the flurry of Christmas shopping and such, I believe I've sent the article to all those who contacted me asking for it – if I've managed to somehow overlook anyone who requested it, please accept my apologies – just drop me a line and I'll email it through to you. 

As Terry mentioned, consult a tax advisor for specific advise relevant to your property.

wilko1 wrote:
jacm what are some of the reasons you have given for not releasing the deposit early because I'm guessing you have had long settlements before. 

I don't give reasons.  I simply do not respond to the request, which is essentially saying no. 

Hi Mot_84

It sounds like your plan relies on you staying in a job for a long time in a highly-paying job so that at least the depreciation has some worth to you. 

It is a good idea to determine your desired outcome, and then craft a strategy that gets you there.  Rather than define a strategy and hope and pray it gets you your desired outcome.

Be aware that (in Victoria) once a contract is "unconditional" (ie finance is approved, you are happy with your building and pest and any other conditions that apply to the contract), the vendor can request early release of the deposit.  You can respond to this request, or not.  If you do not, they get the deposit after 28 days by default (so…[Read more]

Good on you Darryl!  I loved that article 

Hi Joey,

Welcome

Quite often the biggest hurdle is a mental hurdle. Knowing “academically” that something is the right path, and actually doing it are two different things.

A big thing is being able to block out the negative chatter from folks who have not done their homework on the topic of property, and trusting the research you have done.…[Read more]

I have clients that are buying with a heck of a lot less money than that behind them. And no property holdings to pull equity from either. Some have been no money down deals. It can certainly be done

I think wilko is saying that the body corp management company may own property somewhere. It may have a mortgage over it. Your strata fees may be sitting in an offset account against that mortgage..

wilko1 wrote:
Always good when you get the colour right Jamie .  Reminds me that I have all the  downpipes and facades to paint on my. PPOR.  Perhaps if I leave it long enough the old paint will peel itself off so I don't have to strip it. Here's hoping 

Or maybe if you are lucky, your paintwork will get vandalized by some troubled youth. …[Read more]

Crossing equals danger. As the boys have already suggested, get over the hurdle of settlement and then untangle the crossed mess ASAP.  This will probably mean having to refinance a bunch of loans.  Either of the boys that have commented could sort this out for you.