Because your interest in the property is a direct result of the agents advertising the agent is entitled to their commission, even if you wait until after the agency agreement expires (eg. Sign comes down) to approach the vendor.

Depending on how long the property has been on the market the agent may be your best friend… Eg. If…[Read more]

Because your interest in the property is a direct result of the agents advertising the agent is entitled to their commission, even if you wait until after the agency agreement expires (eg. Sign comes down) to approach the vendor.

Depending on how long the property has been on the market the agent may be your best friend… Eg. If…[Read more]

I'd would be asking your PM if you need a certificate of currency before you can pass water charges onto the tenant.

In NSW (i don't know QLD legislation, thus why i say ask your PM) as long as it is marked on the in-going condition report that water saving devices are fitted, and the tenant accepts this when returning the in-going…[Read more]

Hang around for a while James… you’ll very quickly learn how to play the game.

Matt

Best approach i think is always the honest one – talk to the agent, explain the situation and go from there.

Wether or not they hold you to the termination fee i would think is largely dependent on how much / if any work they have done on your property…

Eg. Have they already completed the in-going condition report
Have they already…[Read more]

When it comes to townhouses / units that are strata titled, you need to keep in mind that the levies you pay per quarter go towards the general maintenance and upkeep of your property.

Eg. If the gutters start leaking on a strata tiled townhouse, the body corporate pays to have the repairs completed.  Conversely, if the gutters started…[Read more]

I think this is really only a question you can answer…

From a purely financial perspective, you’ll do better over the long term renting where you want to live and buying investment properties on the side.

Having said that, from an emotional perspective, there is a great sense of security and comfort being in a place that you own……[Read more]

In NSW, a tenant can break the lease if a AVO has been issued against a current occupant of the property…

http://www.fairtrading.nsw.gov.au/ftw/Tenants_and_home_owners/Renting_a_home/During_a_tenancy/Domestic_violence_in_a_rented_property.page

Not sure how / if this would extend the neighbor in question ??

If it went to the tribunal,…[Read more]

This software will very quickly (with some reasonable accuracy) tell you wether a property will be CF + or CF – 

http://www.somersoft.com.au/piafpu.htm

You can also play with the figures – Eg. What is the cash flow difference between a purchase price of $300K vs a cash flow price of $320K

Having said that, as mentioned above, there…[Read more]

Maybe I’ll see you at an open at some stage

I’m currently watching Wyoming as my main focus…

If / when you would like some advice on different areas from a rental perspective you should talk to Ellen (www.therentingexperts.com.au).

Her company has taken care of my property for a couple years now and have been great to work…[Read more]

Well done on achieving such a strong financial situation through savings.

My personal preference for property is the classic ‘3 bedroom, brick and tile’ property that is generally pitched at the first home buyer market.

Where I am based on the Central Coast, these are generally priced around the low to mid 300’s.

My reason for this…[Read more]

I am a big fan / user of Excel…   but to achieve the above, why not just spend $245 on software that is updated regularly  and does all of the calculations that you're looking to achieve with your spreadsheet (plus a heap more)'

http://www.somersoft.com.au/piafpu.htm

From the information you've provided, your in a great position to get started…

To answer a few of your questions;

As Benny has said, you need to decide on your method…  Buy and hold, renovate, development etc.   from your comment above, buy and hold or very basic Reno (paint and carpets) will probably suit you the best based on your…[Read more]

The Newbie Investor wrote:
Than people that pay off a whole property of say $300,000 than after 25 years its worth 350,000 basically you wouldn't of made much in return???? So its better to hold and sell at perfect times???

Have you ever tried to pick the bottom and top of the share market ?

Property is similar in a lot of ways,…[Read more]

Basic example;

Property Purchase Price = $300K
Consists of a) 60K deposit & b) 240K loan

Property Sale Price = $320K
Consists of a) Return of $60K deposit b) Payment of $240K loan & c) Profit of 20K

Bang on mate…

If your goal is to pay off the loan as quickly as possible, (to keep things very simple) then there is really only three ways to go about it;

1) Borrow less to begin with (bigger deposit)

2) Make lump sum payments   

3) Make extra weekly / monthly repayments.   

Please note, option 3 is better than option 2 (If you…[Read more]

With a Principle & Interest Loan (P&I) where you pay the principle off over 30 years, the repayments are the same each week / month etc for the full 30 years.

So, although you will pay the maximum amount of interest in the first month, and then gradually less interest each month there after as the principal reduces, (and conversely,…[Read more]

All good

1) Yes, if you purchase a 300K property, and put down a $60K deposit, then you will have 20% equity. FYI the formula used to calculate equity is;

(Loan Amount divided by property value) x 100 = Equity %

2) The total interest payable is calculated on the loan amount only.   So, if the loan balance is 240K, you will pay…[Read more]

The concept of a I/O loan with an offset account gets thrown around a lot on this forum as the ideal set up.

And, in most scenarios…  it is !

As others have highlighted the benefits and how the structure works, i won't re-hash that…   what i will say but, is it all falls over is if you are not totally committed and disciplined in…[Read more]

That sounds like a great plan…  it's also how i got started with property

Not sure if your still single, but renting a room to a mate will very quickly add to your savings.

When you do buy the property, just try to keep in mind that it is only a stepping stone for you, and ultimately it will become an investment and as such, buy…[Read more]

PM Sent

You’ll do well mate

When you talk with a broker, make sure they understand your long term plans as this will have an impact on how they structure things.

Oh, and make sure you ask a heap of questions, and most importantly, you understand the structure they are recommending.

Knowledge is power…

Cheers

Matt

Initially, well done on saving such a significant deposit at your age.

I would defiantly recommend going via a broker. Both Richard and Jamie who have commented above would serve you well.

Have you thought about your long term strategy at all ?

Eg. Are you looking to simply buy one house and pay it off as quick as possible, thus living…[Read more]

Having read your article, I just wanted to highlight the following questions you pose. They really are great questions that will very quickly qualify if an investment is worth looking further into

Quote

Ask yourself the following questions when considering purchasing an investment property

1. Will this move me towards my goal in the…[Read more]

From my understanding 95% of agencies will allow their sales agents to sell each other's listings no questions asked.

The commission split is generally 60% for the listing agent and 40% for the selling agent.

Some will argue that the listing agent won't try as hard to get a sale across the line if it's not their buyer because of the…[Read more]

I know in NSW a tennant can break lease without penalty if they are moving into aged care or community housung. Same for somebody needing to move due to domestic violence issues… not sure if that extends to defense force personnel but.

I doubt that your PM would be willing to make specific reference to the new act if they were not…[Read more]

What are you exactly looking to achieve by paying your house off in full ?

If you are looking to have the house paid off in full so that you can move in to it, put your feet up and relax living life without a mortgage then Dave Ramsey has some really good ideas on debt cancelation etc   (www.daveramsey.com).  
Please note, he is…[Read more]

To answer your question;

Pros

Increased voting power at AGM
Less effort involved to stay across portfolio (eg. you only need to be a part of 1 strata executive etc)

Cons

Should a special levies be required, your responsible for two portions
Should you need to sell both units quickly, having two identical units for sale in the same…[Read more]

The plumber who did the job – what report / reason for the blockage did he provide ?

Its a grey area…

Did the toilet block because the tenant was intentionally trying to flush nappies or did it block because of old pipes / poor pressure etc ?

Matt

Might be an idea to confirm your intentions with your PM as well.

If your property is either a studio / 1 bedroom you may achieve higher rent.

If the property is a 2 Bedroom +, having it fully furnished can detract from your property.

Eg. If you already own your own furniture, would you pay extra to live in a property where you…[Read more]

Residential Tenancies Act 2010 No 42

100 Early termination without compensation to landlord

(1) A tenant may give…[Read more]

Yeah, there is two sides to every story.

First thing that comes to mind is that although time frames differ in each state, you can’t just ‘put the rent up’ without providing sufficient notice…

In regards to the current PM, in the same way that property values fluctuate, so do does rental values.

As mentioned previously, you can put…[Read more]

Hi KateWhat state are…[Read more]

Hi GertWhat exactly did VCat say, and how long ago was the case heard ??Although i am not based in Vic, VCat is the governing body that oversees body corperate / strata issues…You can appeal a VCat decision to the Supreme Court of Victoria, but i would have th…[Read more]

Hi StojShort answer is yes…When you vote you will simply need to request that the vote is counted by unit entitlement and not by show of hands – completely legal, no problems there.Only caution, just be…[Read more]

My thoughts…   your 100% spot on.Look at Redfern in Sydney's CBD.   It's taken a long time, and change is still occurring, but it is…[Read more]