Hi there,
I may have missed something. But CF+ to me means that the regular income less all the regular expenses must be greater than 0.

In terms of how great it is, I just divide the figure above calculated for 12 months over the total cost to purchase.

eg Total purchase costs, includes deposit = 100,000.
Total income = 10,000
Total expenses…[Read more]

As soon as you say “its for an investment” you lose protection under the Consumer Credit Code. So Mal can make his programs with the worst rounding errors and also annoy those poor finance mushrooms who need to reconcile the GLs and theres not a thing you can do.

However if you are a consumer, not investor, its a different story, in this case…[Read more]

Just wondering…

If you are an agent in Sydney, why do not you have good deals on offer in Syd? I think many on this forum have found them…

Why do you think the Qld and TAS deals are better than what you could find in Syd?

Depends how old it is!

As you can see, by saying “it”, I dont have one! However I do remember how much stuff kids say in Primary and even high school.

They probably dont need to know till Uni!

I think i have seen this issue raised a few times.

Dear Site Administrator,
Please only show forums that people have access to. That way no one will complain when they cannot access a particular group as that person will not see it.

This is Steves site! He and his team have been kind enough to fund forums for public use. It would be wise to…[Read more]

Hey Fern,
This is just my opinion. There are too many factors that influence the sale price of a property. Season is just one. Supply/Demand are others, condition, etc, etc.

So any set of numbers you get can be disproved by another set by making different assumptions.

As there are too many variables I would survey agents instead. I would…[Read more]

Hi Audrey,
I guess if you finally decide you will sell, maybe marketing it differently would get you a better than market value price?
eg. Interstate investors are not always as good as the locals in assessing market value. Maybe find an agent who works with international investors? Disclose everything that is positive about the property ie…[Read more]

Hi,
I found this happens a lot with Mortagee sales.

I know this is a little sneaky, but I cant see how its wrong. At 10 min prior to cutoff, ask how many offers have been submitted. If 0, then put in a low offer, else put in what you feel is fair.

Also inform the Agent the cheque should not be cashed. On success you will draw another cheque or…[Read more]

Hi Surrey,
Your response is very helpful. Thankyou!

Im pretty sure its structural and the engineer will confirm this tomorrow.

Thanks again
Mat

Sadly I have had a few bad tenants and have found the laws are only effective if you PM is effective.

The PM needs to spot the first violation and act on it immediately. No messing around. As tenants always get a second chance once they front up to the tribunal you need to factor this in.

One bad tenant went to the tribunal 3 times and each…[Read more]

Hi,
Also check the lease in detail to see how much control you have over tenants (if any) and how much control the lessee has in setting rates.

eg YMCA Melb will try and get in students for 6 month leases. Jan to Jun gets good results, then they reduce for rest of year if they cant get a student. You also cop the vacancy between semesters.

You…[Read more]

Hi PI.Com,
What kind of studios?
Seviced Apartments?
Furnished Units?
Un Furnished?

What type of lease? Standard Residential or leased commercially to a hotel or something?

Thanks
Mat

Hi Toni,
Can you list someone on CRA for non-payment? ie Dishonor without a court order?

I thought the likes of Telstra, etc did that all the time. Its a small smudge on a clients record without the need of a court order.

Mat

Hi Deb,
I live in VIC and my bank manager is in NSW about 1200km. Dont let a small town stop you!

Mat

Hi Giddo,
I use 2 LOCs. 1 for investments and 1 for personal. Keeping them separate ensures you can claim a deduction on your investment interest and any audit by the tax office clearly shows there was no withdrawals from the investment LOC for personal use.

Over the years, for my situation, its best to keep separate accounts for personal and…[Read more]

Hi terebi,
I just found out that Mac Bank will lend 35sqm and over for 1brs if you find a good deal.

Mat

Well actually on second thought I agree too.

You can always redraw from your PPOR for both personal and investment needs, however you should only redraw on your IP for investment needs, otherwise it gets messy with your tax return.

Hi terebi,
I have noticed these. Its good to then look at renting it (ie realestate.com.au – rentals) and you will find there are lots available.

Banks are no fans of lending for anything under 35sqm.

May be cheap as there is not a large buyer market.

On the upside, there are plenty of international students and they pay good money to rent off…[Read more]

Hi,
I think of it along these lines:
1. Any spare cash you have should always be applied to your debt.
2. Applying the spare cash to your debt increases your equity.
3. Think about where you may want to draw on the equity in the future and then determine how you split the spare cash amongst them. eg if you want to draw back out for personal stuff…[Read more]

I too would be interested to hear peoples experience.

I currently have some unfitted suites but they are not renting. Im debating fitting them out nice and new for offices so they look attractive. However PMs are stating I should leave them as is and let the prospective tenant fitout as they please.

Matt