Either way, if you decide to move in, be sure you are aware how much notice you have to give the tenants to get them out in time,  You have to give notice even when a lease is expiring.

Bathrooms with two doors are one of my pet hates. It’d decrease the value of the property in my mind.

Oh Terry, how disappointing.  It sounded like so much fun, getting a company shut down for not honouring what they owe someone!

Oooooh you are in for quite an education.  It's sardines by the time the train gets to Laverton!

Hi Rusty, I know Shape will reply but here's some info from here:

Price of water meter depends on if it is a regular one or a radio-controlled one.  If it has to go in the backyard because that is where the water pipes are, the water meter reading guy will have to read the meter by remote from the kerb.  A radio controlled water meter is about…[Read more]

Nigel Kibel wrote:
I am not a broker suggest you talk to Richard Taylor who is 007 here a very good broker

Richard's userid is Qlds007

Terryw wrote:

JacM wrote:
How much do they owe you? You can get a company shut down if it owes you more than $2k and doesn't pay up. I remember Terry mentioned it once

JacM are you referring to s459E of the Corporations Act?
http://www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s459e.html

Issuing a  statutory demand?

Hi Terry,…[Read more]

How about the good old "spread your risk" strategy.  Not having all the same kind of properties in the investment portfolio

I always opt to pay an amount directly into the trust account of my solicitor (who I use to handle all my purchases).  I pay in an amount that exceeds what I know will be required for settlement.  I make sure it clears in their account at least three days prior so that if there are problems, there is time to fix them.  On settlement day, my…[Read more]

Hi Sunny

You can always do more with an independant property (ie a house).  With a flat you are somewhat constrained by body corporate.

If you are considering buying into a certain suburb, spend some time there.  Do a few shopping missions at the local shopping centre.  Go for a drive around to understand which streets are preferable.  More…[Read more]

How much do they owe you? You can get a company shut down if it owes you more than $2k and doesn’t pay up. I remember Terry mentioned it once

Very nice!

Yep fair point Richard

$1200 yearly fee is excessive.  What is this for exactly?  I just went through my SMSF's first tax year end and was charged only $660.

You cannot withdraw money from super till you are retired.  So you'll need to leave profits in a bank account or reinvest them from the smsf. 

Don't be greedy.

Also, that the rule of "do not get to know your tenants, it is a business transaction" is not always appropriate.  My tenants are my customers.  If I understand their needs, I can ensure my product is continuing to meet their needs.  I am also a big believer that if tenants actually see the landlord as a person, they are less…[Read more]

Cost of construction has potential to be high in remote towns. Lenders may not offer high LVRs also. Just a couple of things to check before diving in.

Hi Terry, my smsf borrowed only $180k from St George Bank. I agree $50k is not quite rough but based on what I did with my super, within about a year of regular contributions, or sooner if larger contributions are made, Brady would have enough in the super fund to get started.

http://www.ato.gov.au/content/29092.htm

Based on what is on this page it appears you could sell the property within the 6 years, without returning to Oz to do so.  Based on my previous post it looks like if you take longer than 6 years to sell it, you need to ponder CGT implications as some of the gain will not be eligible for the 50% cgt…[Read more]