Hi AVS

If you do a search for off the plan or OTP on the forum you'll find a heap of information covering the pros and cons.

Cheers

Jamie

Hi William

Yep, you can own a property with a friend. Any profits would generally be split in accordance with the percentage of ownership.

Cheers

Jamie

Hi Deen

There's no issue with upgrading – that's a possibility.

You just don't want to do it in the manner that's been proposed. It's not in your best interest.

Cheers

Jamie

Run for the hills.

The proposed structure is a lazy set up that doesn't benefit you at all.

He/she is cross collaterising your home with your investment property and is possibly contaminating your deductible and non-deductible debt.

You need to speak with a broker who knows what their doing.

Cheers

Jamie

Agree with Terry – get your points where you can. After a couple of years you'll be able to get a new toaster

No, I'm joking – we usually use our points once every year or two to fund part of a holiday (flights, etc)

Cheers

Jamie

Hi Matt

I'd give the financial advisor a miss.

James from House of Wealth is great – we share some mutual clients and all have been happy ones.

A decent broker will advise on your borrowing capacity and loan structure and will be able to run some scenarios for you.

Cheers

Jamie

Hi Matt

I'd give the financial advisor a miss.

James from House of Wealth is great – we share some mutual clients and all have been happy ones.

A decent broker will advise on your borrowing capacity and loan structure and will be able to run some scenarios for you.

Cheers

Jamie

jmsrachel wrote:
Makes you wonder how we survived without the internet?

lol – I've been told there was something called an encyclopedia…..

Cheers

Jamie

Hi knewgirl

We've got a heap of property data websites here http://www.passgo.com.au/property-data-websites.html

Cheers

Jamie

Not common practice from my experience.

They normally charge a week or two for finding a tenant – after that, it's usually just a percentage of rent and some other minor admin charges for postage, ect.

Paying two weeks rent each year is quite a bit.

Cheers

Jamie

Get Terry W to represent your curtains

Cheers

Jamie

Hi Rob

Why has it taken 2 months for anything to happen? It should take 5 minutes for them to speak with their boss.

Get on the phone to them tomorrow, ask to speak directly with the manager. Chances are he/she is unaware of the issue and if it's brought to their attention it may be rectified quickly.

If they don't agree to fix the issue than I…[Read more]

Hi Northy

I don't want to come across as sarcastic but isn't a real estate agent the logical option?

The national real estate listing websites such as realestate.com and domain.com should also do the trick.

Cheers

Jamie

But at least he has the best signature on the forum – it's amazing.

Cheers

Jamie

I don't know – what about this guy?

Cheers

Jamie

Hi Investhut

Without knowing the finer details of your situation I'd tap into the equity against your PPOR by setting up a second interest only loan. This loan will act as the deposit/costs on your IP. I'd then set up another, separate interest only loan to cover the remaining balance of the IP.

So you'd have three loans set up:

Loan 1: Current…[Read more]

Great advice from Scott.

I put a lot more weight on a professional PM's reference rather than a private PM's reference. I've had a few where it's quite obvious that the private PM is a friend of the applicant.

If it's a private landlord, think about throwing in a question or two that a landlord should know – ask them about the type of lease they…[Read more]

Hi there

I'm no expert in reading strata documents but that negative $28k balance for the admin fund would make me a little uneasy.  The sinking fund doesn't seem too healthy either given there's 88 units.

With the pipe damage – it sounds like it's been sorted so I personally wouldn't worry too much about it. Get a building inspection done…[Read more]

brmiau wrote:
Thanks for the quick responses.

Jamie – No this property will never become an IP. The reason we are thinking about investment properties is once we've paid this house off, or near enough, we think we'll stay here for 25-30 years and have (hopefully) 4+ investment properties. Our other thought was we might pay it off, or near…[Read more]

Like Ryan said, you can still claim depreciation on fixtures and fittings. Even on pre 85 properties, you can usually get something back. I've got a 50 year old IP that I still managed to claim over $2k on in the first year.

Have there been any renovations?

Cheers

Jamie