Yep, sounds like you’ve got some non paying owners coupled with lazy strata management. I must admit – I’ve never heard of an admin fund being in deficit.

$20k in a sinking fund isn’t a huge amount but I think you mentioned that no special levies were anticipated.

I’d look carefully through the minutes and talk to the strata mangers in respect…[Read more]

Catalyst is right – it’s the sinking fund that you’d want to see some funds in.

Use it as a point of negotiation with the vendor.

Cheers

Jamie

Hi propertybee

You basically want to ensure that the property is in the same condition as when your offer was accepted.

Settlements usually occur in the afternoon – so you could expect the keys later in the day.

Bank cheque is generally the easiest.

Cheers

Jamie

In Canberra, Queanbeyan and some outer regions there’s one site that everyone uses – http://www.allhomes.com.au

It’s about $150 – $200 for a rental listing. We’ve always had good responses through it.

Cheers

Jamie

Ask why the vendors are selling. Try and work out their motivation for selling – it can help you determine the best approach to negotiating. Sometimes it’s not all about the money (I sound like that song) – there can be other factors involved that can sweeten the deal for the vendor (such as a rent back period – particularly useful if it’s a…[Read more]

danviv1 wrote:
I agree it was a great idea to wear masks and goggles, we didn't wear any and that was a bad decision!

It’s good to know that you can still see the keyboard!

Definitely wear goggles when you start hacking into those tiles. Gloves as well – I recently had a small bit of tile lodged in my finger. It wasn’t nice – good thing the…[Read more]

bluehoon wrote:
Pardon my asking.. What are bird dogs…? Not sure what the inference above is about.

Check out Paul’s thread above – I was making reference to that.

Cheers

Jamie

MrDarcy wrote:
You never know, you might get there sooner than you thought and not have to pay the MI on the loan by having a bigger deposit..

If you got to the point where you had a 20% deposit I’d argue that you’d be better served forking out some LMI and purchasing a couple of properties….but that’s just me (and that obviously doesn’t…[Read more]

scullywaggs wrote:
Hi,My IP is in the Barossa Valley and (I am a little embarassed to say….) I am paying 14.5% inc GST.  I interviewed 3 agencies in the region and they all charged 9.9% plus first two weeks rent plus this and plus that.  The agent we went with also charged 9.9% as a a standard but we decided to sign up for their Blue Ribbon p…[Read more]

I love depreciation

It’s why I look forward to tax time. Admittedly, I haven’t considered selling any properties – but even if the thought was in the back of my mind, I’d still be claiming it each year (that’s just me though – others might have a different take on it).

Cheers

Jamie

Hi scullywags

It’s a frustrating situation and one that I’ve experienced first hand.

If your prepared to keep the tenants on long-term, it doesn’t hurt to keep them happy. However, keeping these particular tenants happy is going to be an expensive exercise.

I’d have a chat with the PM and see if you can reach some sort of compromise. Ask…[Read more]

It’s quite expensive in the ACT – anywhere from 8% to 10% plus GST.

Cheers

Jamie

Haha, I can see Paul now being inundated with hundreds of emails from a flock of new Bird Dogs

Cheers

Jamie

Yep, must be lodged. As Scott said – it’s the tenants cash, not yours. I don’t think they’d be too happy with the landlord investing the money elsewhere.

Cheers

Jamie

Hi Skyes

95% loans for both owner occupier and investments are available at present (the former is more widely available then the latter). You will generally need to demonstrate genuine savings of 5% over at least a 3 month period.

Cheers

Jamie

Catalyst wrote:
[Haha. That's what I was going to say. That's what we do. Break it up as much as possible as it packs flatter. Throw it in a skip bin.

Yes! And then take the sledge hammer to the bits in the skip and smash them up real good. That’s how you remove a kitchen!

Cheers

Jamie

Hi Bella

Richards’s absolutely right. The deposit for the house I’m sitting in right now is from Bankwest – the remaining portion is from CBA.

Drop RIchard a line – he’ll sort it out.

Cheers

Jamie

Totally agree with Scott. If the electricity supply is an issue just turn of the mains. I have no idea why an electrician would need to be present while the kitchens being dismantled.

In terms of removing it (and I’m sure this goes against every rule of kitchen removal), rip out the doors and smash the remaining carcus with a sledge hammer – the…[Read more]

Rob G. wrote:
There is no freehold in the ACT.Don't even bother to ask why … the whole state is another unhappy political compromise that reads better than a Monty Python script.Cheers,Rob

Haha, I take it you’re not from around these parts Rob. Life’s good in Canberra.

Cheers

Jamie

Mosqui wrote:
What about Android? iphone is not the only smartphone out there. My wife has the Galaxy S and has a few interesting features you don’t get on the iphone.

Start your own wish list with Steve Damn Android users……jokes, just jokes.

Cheers

Jamie