Wrong.  Put all cash into :1. The PPOR offset2. If the PPOR offset contains a balance equal to your debt, put any surplus cash into the offset of IPsReason?  You might want to convert your PPOR to an IP one day.  If it still has a debt on it, you will be able to start claiming interest on its loan on your tax return.  This will not be the case if…[Read more]

I really do think that the bare yard communicates "landlord provides the bare minimum for you and does not care at all".  Do think about putting in a cutie little garden bed, and absolutely get some interior photos happening – preferably with the place looking cosy.  You'd be amazed what you can do with lighting effects (ie lamps), colour (eg w…[Read more]

ps if it were me, I'd get some garden rocks from the nursery and create a garden bed along the front of the unit.  Put some lavendar and so on it it.  Pretty, low maintenance, smells nice….

Any reason why there are no photos of the inside?Also, how often is your real estate agent opening the property for inspection?  Are they opening it at times when people can actually show up?  Maybe get one of your friends to be a fake prospective tenant and test out what the agent is doing.

Yes let them pay the bills.  Meanwhile the property goes up in value, so in say 10 years you could sell one property to pay the debt on two or three other properties.  You simply have to be patient.  Acquire some properties and let time do its thing.

techamitdev wrote:
If I am not wrong, it will work fair when there is a capital gain from the house; what if the there is decline in the property value that we have actually paid.

If you make a loss, you declare the loss on your tax return and it reduces your taxable income.  If your loss was say, $100k, it does not mean you get $100k…[Read more]

Hi CharlieI presume you are currently renting in a pricey area!Where is your family support located?I see you have two PRESCHOOL aged children.  This suggests to me that for quite a few years (ie the entire duration of primary school) the children could share a room.  A room with a bunk bed if need be.  This means you could look at acquiring a tw…[Read more]

What are the consumer debts, and what interest rate are you being charged on them?

If you bought a place for $200k, and sold it for $250k, it goes like this:Acquisition Costs:Property   $200,000Stamp duty   $10,000 (approx)Building & Pest Inspections   $500Solicitor Fees  $800Total   $211,300Renovation Costs:Let's say $7,000Holding Costs:Bank Interest: $520Selling Costs:Real Estate Agent (Selling Agent)  $5,000So it goes like…[Read more]

Re insurance, check what your body corporate has, and you cover for the gaps.  Where to look?   Blacktown

By the way, your property manager does background checks on prospective tenants to see if they have been good rent payers in the past, and looked after previous rental properties.  However, at the end of the day, you cannot be certain the tenant will look after the property.  This is why you have in insurance.  You need building, contents, la…[Read more]

A couple of thoughts for you:If it is an investment property, you can get the property manager to handle the bills and maintenance for you.If you are planning to live in it, you will see how quickly you outgrow the property if and when you have children.

Glad the forums are helping you – we've all fumbled about on forums, reading magazines and loads of books to assemble some sort of knowledge, and yet there is still soooo much more to know!!

You can use a broker anywhere in the country!  Doesn't have to be one in Berwick.Use Richard Taylor.  Very knowledgeable chap who participates heavily on this forum (userid Qlds007).Contact details are here;http://www.tayloredfinancialsolutions.com.au/index.php?option=com_contact&view=contact&id=1&Itemid=79

Hi there, sorry to hear about your situation.First question:  is this kitchen in a property that you reside in and is considered to be your PPOR?  Or is it an investment property?  If it is your PPOR you can't  write it off on a depreciation schedule.Aside from all this, is there a reason this is not being claimed on insurance?  That's the plac…[Read more]

And if someone else has done it in the street, they've done all the hard work for you and set a precedent with council.  You can argue the "well you let them do it……" line

Shouldn't be too hard if you do your homework and make offers "subject to being able to get approval for this and that"Just throwing ideas onto the table to get people to think outside the square a little

There's a lot to be said for being able to pop over to your IP and take a look at it if need be.  For example.  Let's say a tenant trashes your property.  If you are going to let your property manager sign off on the insurance claim, you might find you are very disappointed in them missing lots of detail and damaged stuff.  They just won't car…[Read more]

ryan mclean wrote:
Land is a finite product, they aren't making any more land (except in Dubai where they make their own islands…..actually all the usable sand has run out there so they can't even do that anymore.)

Gold !!!  Love it Ryan !!!  Thankyou for providing this evening's laugh

Here's a thought for you:Get a house, and whack another house in the back yard.  Call them both units then if it makes you happy.Here's another thought:Get a large house, wall it off in the middle somewhere and add another external entry door.  One house has become two units.  Ta da!!!  Add in a cost-efficient kitchen and bathroom to the unit that…[Read more]