Wow that is terrible! There is a banking ombudsman, might be worth having a chat to them

it might be easier to pick Saturday nights tattslotto numbers lol. I was agreeing with you the whole way, initially thought the sandstone, the thought the red looks traditional and make matching footpaths and driveways easier, but like goldilocks I thought the third one was just right

Hey Coretex – congrats on the property. I am a novice at this too, but my first suggestion is you need to get a quantitive surveyor to do a report on your property for depreciation. You can claim the cost of the report as a deductible on your tax return.I maintain a basic excel spreadsheet for all my incomings (rent) and outgoings (interest on…[Read more]

Sounds like things are going to be tight for you financially, without anything unexpected coming in – which could be the case with an older unit.Based on your summary – I think selling would be the go, unless you can explore other options with the Investment Property such as a rent to buy? to make it work better for you?

Hi Jye – I am no expert but, could you contact the agent and amend your offer to include an expiry date?Sounds like the agent is using the time in a hope of another buyer coming onto the market or if the other offer is genuine – giving them time to sort their finance.Just say you are interested in a similiar property that is on the market and need…[Read more]

Hi globalguru we are in that area – would be interested in hearing more: maree_bradross@yahoo.com.au

Being totally selfish – you could buy the townhouse in Seaford Vic, that we are unfortunately not in a position to purchase at the moment. Then we could rent to buy from you *tongue in cheek*

Yes, that sounds like a fantastic plan. Plus do as much improvements as you can whilst the property is rented to claim on your tax

Hi is the 7 months after the settlement period? If so, I believe you must live in the property for 6months within the first 12 months. So you will have to evict your tenant to faciliate this.Whilst it is an investment property you can claim deductables.

Hi Hans,A "normal" home loan is where you pay principal and interest. A "investment" loan is interest only as you can only claim the interest charged as a deductible.As for ease of switching between the 2 – I'm not sure. Hopefully "olds" or "terry" will pop in to clarify.Hope that is of some help?Cheers Maree

No brainer imho – split systems are so cheap now. Our IP has one the property we are renting doesn't Fortunately a friend has a portable air conditioner that they have lent us

thanks Terry (should have said $120 minimum after tax). Only been there since November 08 but have shifts in my diary for next six months (it is a reception centre). But have a history in the hospitality industry

we had early access – don't remember anything special in the documentation though. The owner was happy as the property was vacant and would rather it be looked like it was being occupied

I don't know the apartment block but work close by. Is it closer to Swanston or elizabeth st? Swanston is a place to be avoided imho for personal safety (girls opinion). Most of those apartments common areas are so dark and never seem to be ventilated – probably due to the costs. Plus lifts seem to add a lot of extra costs.

thanks for the kind words perpertrator. The upside is we have managed to survive for 3 months without income from the IP (over xmas period), so feeling really confident about taking the plunge and buying another  property now – we have unintentially proved we can do it

sigh – I have to change my tune and eat humble pie I rent out our IP privately and it was great whilst the tenant paid on the due date but it has all gone pear shaped! Partly my fault as I have been so busy working 1 FT & 2 PT jobs that I failed to maintain proper records for this FY – now it is very messy and painful and she is all up 3 months…[Read more]

thanks Terry. The unit we are looking at is $340k, I think we may have to tread water a little bit longer to be in a stronger positon – get our tax return back and be closer to the end of our fixed rate. Don't think a seller is going to want a 7 month settkement……

thanks Duckster – would that be claimable? Assuming it would? Could the valuation be used by the bank for the refinancing.

gosh – why bother with it? Ants…. she wouldn't dare go there with a real estate agent! Move her on……..

*chuckles* at Jaffa's "curtains" always thinking real estate