Hi Goatus

I'm not sure how much they charge in Perth but I'm sure you'll be able to negotiate a decent discount if offering up two listings.

Just make sure that you choose a good agent. Depending on the market, I'd have no issues with coughing up a little more to pay for a high performing agent rather than getting a decent discount off one that…[Read more]

Not sure if parking the funds in an offset is the best option, it could potentially jeapordise  the deductibility of the loan. Probably best to place the funds back onto the loan that's been set up and redraw when required. Having said that, I'm not an accountant.

It's important that these funds be used solely for IP purposes.

The deposit bond…[Read more]

No worries – best of luck with passing go….sorry, had to be said.

Cheers

Jamie

If you need to know how much it will cost – https://www.depositpower.com.au/publics/guaranteeQuote.aspx

Cheers

Jamie

Hi there

Deposit power offer deposit bonds. You use these in replace of a cash deposit when exchanging contracts.

The loan needs to be set up as a second split (which can be a LOC or an interest only loan). It's important that it's set-up as a separate split so you can identify the deductible and non-deductible portions.

What sort of…[Read more]

Stormy wrote:

I think the biggest thing will be painting the whole inside, as each bedroom is a different colour,ranging from dark blue to purple. The ceilings are in the same colour as each room. The previous people appear to have been heavy smokers so there  will be a lot of work needed with the sugar soap.The carpets will also need to come…[Read more]

Try to find a tenant handbook that outlines the processes in your state.

A quick google search should come up with something.

We have one in the ACT that we used a couple of years back for a trouble tenant. It was a fantastic guide that clearly spelt out the rights/obligations of each party.

We followed every process exactly as it was outlined…[Read more]

Just bought a soccer mum car – a Hyundai Santa Fe *sigh*

It's all about practicalities these days.

Cheers

Jamie

Yep it happens.

The size of the market that you're looking to purchase in can come into play here as well.

If you're looking to purchase in a smallish town with only a handful of agents then you wouldn't want to burn your bridges by coming across as tyre kicker.

Cheers

Jamie

Cheers Darryl.

A good read – well written and concise.

It's nice to have a reference point for those three markets.

Cheers

Jamie

Hi Matty

Sounds like some legal advice is in order. Where are you located? If Sydney, I'd be contacting Terry W on this forum for some advice.

Cheers

Jamie

Hi Mik

Might be worth while giving Richard a buzz – he knows his stuff and has been assisting forum clients for over a decade.

Cheers

Jamie

Hi Stormy

Our last reno project was a three bedroom house in Canberra on a 900m2 block.

We spent about $15k that included new flooring, paint, kitchen reface, external render, landscaping, new window and light fittings and some other bits and pieces.

All of the work was mainly cosmetic – and most of it can be done via a handy man or yourself…[Read more]

I think it can make a pretty big difference – particularly for a rendered property.

A dodgy job will stand out. Also make sure that you obtain some sort of warranty on the job because I've heard of paint coming off within a couple of years.

Get a few quotes because the prices seem to vary quite a bit.

Some businesses may provide a discount if…[Read more]

Andrew_A wrote:
Saw a 1 bed about that size advertised for 199k in a nice Brisbane suburb recently, creative use of space and it still had a shared laundry, 2 beds in 24m2 sounds a little tardis like!

Wow that's tiny.

When I lived in London many years back, the landlord maxed out the living space by knocking out the toilet upstairs and…[Read more]

What's your definition of good?

There's plenty of high yielding properties out there. Some come with an element of risk – ie. mining towns whilst others may attract limited growth – ie. Broken Hill.

I actually like my neck of the woods for IPs – Canberra. The yields are quite good – especially for entry to mid level stock and the historical…[Read more]

Hi there

The bank won't knock back a loan application because you intend to reno and sell.

Mortgage brokers receive a claw back on the commission the lender pays if you sell the property within the first 18 to 24 months.  That may explain why you received the advice you did…..that's only speculation though.

Avoid shopping – it can cause more…[Read more]

All good. I've been smuggling pork and pets for ages anyway.

Cheers

Jamie

Hi and welcome aboard

Do yourself a favor and contact Terry W on this forum. He's in Sydney and will be able to assist with the structure and answer all the questions you have. http://www.terryw.com.au/

Cheers

Jamie

15 minute showers are generous at least

You run a tight ship dubs.

Cheers

Jamie