PropertyInvesting.com | NM7 | Activity https://www.propertyinvesting.com/members/nm7/activity/ Activity feed for NM7. Mon, 13 Apr 2026 10:44:43 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 4f8a5227438c96725c9dd2fce3f90822 NM7 replied to the topic Land Tax for new knockdown dwelling while residing in current PPR in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5045652-land-tax-for-new-knockdown-dwelling-while-residing-in-current-ppr/#post-5045988 Tue, 15 May 2018 08:45:25 +0000 Thanks Terry – seems like I can request for a refund of land tax paid once construction is completed and certificate of occupancy is issued. Requirement is to be in the new property for at least 6 months to be eligible for the refund.

Sharing the link in case this helps others:…[Read more]

]]> 8e701d52030922244fb41e00f2845387 NM7 replied to the topic Land Tax for new knockdown dwelling while residing in current PPR in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5045652-land-tax-for-new-knockdown-dwelling-while-residing-in-current-ppr/#post-5045938 Tue, 15 May 2018 00:40:53 +0000 Hello folks …. anyone able to share their expertise on this matter?
I checked out https://www.sro.vic.gov.au/pprexempt#11 which does indicate both the new PPR and old PPR will be exempt from land tax provided new land isn’t generating income and we fit in that category as we knocked down the place as soon as the settlement took place.

Look…[Read more]

]]> 80d13a4b563aa730bb9bfb05b9cf14ec NM7 replied to the topic Land Tax for new knockdown dwelling while residing in current PPR in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5045652-land-tax-for-new-knockdown-dwelling-while-residing-in-current-ppr/#post-5045705 Sun, 13 May 2018 00:28:58 +0000 Thanks for your reply Terry. This is in VIC.

]]> a089bba4e83280606012eef61d8efe9f NM7 replied to the topic Quote for building in the forum General Property https://www.propertyinvesting.com/topic/5045375-quote-for-building/#post-5045695 Fri, 11 May 2018 04:57:39 +0000 Hi Shehan,

I basically took my rough drawing / plans to several builders to get some rough pricing and inclusions they provided. We did that exercise about 12 months ago and glad that we are in the tail end with our new home should be ready in approx 8 weeks time.

Purely from experience (based in Melbourne), I found most builders quote was…[Read more]

]]> ed943bbb0799f2548d9847dd4cb416a5 NM7 started the topic Land Tax for new knockdown dwelling while residing in current PPR in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5045652-land-tax-for-new-knockdown-dwelling-while-residing-in-current-ppr/ Fri, 11 May 2018 04:45:33 +0000 Dear PI Gurus,

A quick enquiry with our current position. Been living in current PPR that we purchased 12 years ago. Purchased existing property nearby which settled in Jan 2017 with plans to knock it down and rebuild a new home that will become our new PPR later this year.

From Land Tax perspective, do we only get exemption for the current PPR…[Read more]

]]> e548150b073cc679230c40743a522201 NM7 started the topic How does passed-in properties work in auctions in the forum General Property https://www.propertyinvesting.com/topic/5041004-how-does-passed-in-properties-work-in-auctions/ Mon, 30 Oct 2017 02:21:31 +0000 Folks – just a question about reserve price for auctions particularly in VIC. In watching the Block Auction last weekend, I was surprised when Ronnie and Georgia’s home was passed in at $2.6 million; it moved to a private bidding and was sold for $2,781,000.

I was always under the impression that in an auction, if the bid had not reached the…[Read more]

]]> 1c310c559f379db3f6b71cb34c1933d7 NM7 replied to the topic Recommendation of independent building inspector in Melbourne in the forum Help Needed! https://www.propertyinvesting.com/topic/5037407-recommendation-of-independent-building-inspector-in-melbourne/#post-5037466 Thu, 08 Jun 2017 12:47:28 +0000 Anyone with some details / suggestion??

]]> c80e713ad6c677ea805e601b896d934e NM7 started the topic Recommendation of independent building inspector in Melbourne in the forum Help Needed! https://www.propertyinvesting.com/topic/5037407-recommendation-of-independent-building-inspector-in-melbourne/ Tue, 06 Jun 2017 04:05:34 +0000 Dear all,

We are looking at building a new family home soon and was advised to consider getting an independent building inspector for added piece of mind. Can you folks suggested any good independent inspector in Melbourne whom you can recommend? Are there any criteria to pick a good inspector?

Regards,
NM7

]]> 51c1763f0f5a8b081318fdb8b96bf639 NM7 replied to the topic Cost of demolishing? in the forum Value Adding https://www.propertyinvesting.com/topic/4374322-cost-of-demolishing/page/3/#post-5034583 Mon, 10 Apr 2017 07:03:46 +0000 I’ve just done that – contacted approx 5-6 demolition companies and received a quote ranging from $11K to $20K for a 3 bedroom weatherboard house to be demolished. Asbestos removed with certificate provided and a reasonably large tree to be removed included.

Demolition company wasn’t worried in me salvaging things on my own & hence managed to…[Read more]

]]> 938d950667bff5296e645332d5983f0b NM7 started the topic Can anyone recommend a good demolition company in Moorabbin / Cheltenham area? in the forum Help Needed! https://www.propertyinvesting.com/topic/5033123-can-anyone-recommend-a-good-demolition-company-in-moorabbin-cheltenham-area/ Mon, 20 Feb 2017 23:23:55 +0000 Hello folks,

Looking at doing a knockdown rebuild in Cheltenham and was wondering if anyone can suggest a good demolition company that operates in the area?

Regards,
NM7

]]> 2ea2ba3f6c5e49431a8ad26dc1f06e6a NM7 replied to the topic Anyone use Terri Scheer Insurance? in the forum Help Needed! https://www.propertyinvesting.com/topic/4391896-anyone-use-terri-scheer-insurance/#post-5032783 Sun, 05 Feb 2017 11:48:41 +0000 What about Tica Landlord Insurance cover – http://www.tica.com.au/insurance.php
I’ve had them for the past couple of years for 2 of my IPs but never had a reason to make a claim so far.

Anyone else has had experience with Tica that you would like to share / make me & others aware?

]]> 26a376fc4c22f4fc23969849df542ded NM7 started the topic Recommend carpenter around Cheltenham, VIC in the forum General Property https://www.propertyinvesting.com/topic/5032666-recommend-carpenter-around-cheltenham-vic/ Mon, 30 Jan 2017 02:49:04 +0000 Can anyone suggest a reasonable carpenter know or have used recently who works in Cheltenham, VIC? We are looking at doing a knockdown & rebuild and would like to get things like built in robes / desks made to fit in the new home.

]]> da9b6ac01461937a2203d4dc03033fdc NM7 replied to the topic Short term rental to vendor post settlement in the forum Help Needed! https://www.propertyinvesting.com/topic/5032299-short-term-rental-to-vendor-post-settlement/#post-5032307 Fri, 06 Jan 2017 05:35:56 +0000 Terry – thanks for the info and I will touch base with my solicitor to assist with the licence to occupy as you have suggested.

]]> a95f64623264b7d250d2d11066f67181 NM7 started the topic Short term rental to vendor post settlement in the forum Help Needed! https://www.propertyinvesting.com/topic/5032299-short-term-rental-to-vendor-post-settlement/ Thu, 05 Jan 2017 14:27:30 +0000 We have recently signed a contact of sale and organised for settlement of the property to take place mid of this month. The vendor has indicated that he requires to rent the place for 5 weeks post settlement and will be paying $500/week directly to us.

How can we do this without the need to getting vendor’s solicitor involved as he had a fallout…[Read more]

]]> 56948e50ddd2e6150e7e282cf1067ae4 NM7 replied to the topic Can I claim these expenses at tax time for rental properties ? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5028618-can-i-claim-these-expenses-at-tax-time-for-rental-properties/#post-5028635 Tue, 02 Aug 2016 06:45:46 +0000 I would have thought that Buyers advocate fees would be added to the cost base for the property.

]]> 79cc9e4a286f9650967b7beb21923512 NM7 replied to the topic Depreciation schedule help in the forum Help Needed! https://www.propertyinvesting.com/topic/4403723-depreciation-schedule-help/#post-5013241 Tue, 15 Sep 2015 00:03:33 +0000 Hi all,

While on this topic, what is the main difference using someone like BMT / Washington Brown / Depreciator vs TaxShield who charges a fraction of the cost from the other companies? I understand that there is a comprehensive check-list provided by TaxShield that you need to conduct the onsite inspection and provide the details but wouldn’t…[Read more]

]]> 7cecf91093e6a7d7ee41387982611a69 NM7 replied to the topic Property Managers and landlords - do you change locks? in the forum General Property https://www.propertyinvesting.com/topic/4409751-property-managers-and-landlords-do-you-change-locks/#post-4693512 Wed, 24 Jul 2013 03:39:54 +0000 Hi all,

FYI, I recently had changed locks for one of my IPs based on the request of a tenant wanting to move in. They had put in their application & requested the PM for external door locks to be changed. I was happy to do so as I was getting $5 more per week and for them to sign-on a 12 months lease.

Regards,
NM7

]]> 90b2d7846858c3f1f0890fca6c4ea6a7 NM7 replied to the topic Investing in Upper Kedron in the forum General Property https://www.propertyinvesting.com/topic/4409485-investing-in-upper-kedron/#post-4691906 Wed, 05 Jun 2013 16:15:47 +0000 Thanks for your views Nigel … as replied to Richard, I'm certainly looking at some good opportunities within Brisbane but wasn't sure what my best options are, particularly being based in Melbourne. I'm concern of choosing an area that might be flood-prone or just not attractive to potential tenants. What sort of budget range would be involved…[Read more]

]]> 5e2577654ac47daf9b0effb56d98f7a9 NM7 replied to the topic Investing in Upper Kedron in the forum General Property https://www.propertyinvesting.com/topic/4409485-investing-in-upper-kedron/#post-4691905 Wed, 05 Jun 2013 16:12:03 +0000 Hi Richard,

Thank you kindly for your reply and I was introduce to a new house & land package in Upper Kedron within the Jarrah estate for investment. Hence, I just wanted to get views of the experts here in regards to which location within Brisbane that would potentially fetch good growth & good yield for approx $450K to $500K. Have you got any…[Read more]

]]> 4d0cc6413b82dae98e6032df4084f959 NM7 replied to the topic Landlord Insurance in the forum Help Needed! https://www.propertyinvesting.com/topic/4407430-landlord-insurance-23/#post-4676033 Thu, 23 Aug 2012 07:38:16 +0000 While on this topic, would you also combine Landlord Insurance with RACV Emergency Home Assist (assuming you have an IP within VIC)? Also in regards to SMSF101's recommendation site of quotelinedirect.co.uk – does it cover Australian properties? Has anyone managed to get a reasonable quote from the site?

Regards,
NM7

]]> 874c0cfaefc1b074e8c7a369f9fc736c NM7 replied to the topic residential depreciation schedule PERTH...help please in the forum General Property https://www.propertyinvesting.com/topic/4406736-residential-depreciation-schedule-perth-help-please/#post-4671032 Fri, 01 Jun 2012 02:34:39 +0000 Hi Steve,

I just had a mate of mine asking me about where he can get depreciation schedule for his newly acquired IP & I pointed him to consider http://www.taxshield.com.au/ which I’ve used in the past. Not sure if everyone here would agree but I found it easy to use their check list for all items that can be depreciated and for $250+gst … I…[Read more]

]]> e1d5a0c6372b127b72bffb637edd4b5d NM7 replied to the topic RACV. Emergency Home Assist in the forum General Property https://www.propertyinvesting.com/topic/4406463-racv-emergency-home-assist/#post-4668599 Thu, 17 May 2012 03:03:28 +0000 Kristin – you mentioned that tenant’s responsibilities includes replacing light globes …. does this cover extra ceiling heights where a tenant needs a ladder to replace the globe (may invoke OHS issues)? Anyway, does the RACV Emergency Home Assist cover replacing light globes on high ceilings?

NM7

]]> 3a199c74da319000e13da20f33ee4df5 NM7 replied to the topic Tenant seeking compensation, real estate agent hard to get contacted !! in the forum Help Needed! https://www.propertyinvesting.com/topic/4406597-tenant-seeking-compensation-real-estate-agent-hard-to-get-contacted/#post-4669853 Thu, 17 May 2012 02:58:25 +0000 A very interesting post I must say ….
I too recently had a situation whereby one of my IP had a faulty solar hot water system installed on the roof. The pressure release valve for the unit was broken causing a massive water leak over a period of 2-4 weeks (as this is not an easy fault to identify due to the fact that the unit is on the roof &…[Read more]

]]> 390e5e5d35b5878dc65ba36d2842c01a NM7 replied to the topic Good accountant? in the forum Help Needed! https://www.propertyinvesting.com/topic/4406257-good-accountant-5/#post-4666983 Tue, 24 Apr 2012 00:01:48 +0000 Hi Folks,

While we are on the topic of good accountants – just a quick question as to their charging mechanism. Do you folks get charged higher for having more IPs or does your accountant provide a flat fee structure provided you have set item of works required? If you don’t mind – what sort of rates are you folks paying and how often do you…[Read more]

]]> fb0d4f344ed66c56cf913b0cb60151d5 NM7 replied to the topic Income Tax Withholding Variation in the forum Finance https://www.propertyinvesting.com/topic/4406405-income-tax-withholding-variation/#post-4668219 Mon, 23 Apr 2012 23:56:03 +0000 Hi Folks,

Thanks for all the information provided and I will surely check out the ATO website to get more information. Do you know if you can update your estimate a couple of times over the financial year in case circumstances changes; ie. salary rise, partner going on maternal leave, getting lump sum bonuses, etc?

What happens if one…[Read more]

]]> 1bca434137662afdb49b47a9b91c665a NM7 replied to the topic Offset Account or not? in the forum Help Needed! https://www.propertyinvesting.com/topic/4406190-offset-account-or-not/page/2/#post-4666354 Tue, 03 Apr 2012 00:45:39 +0000 Thanks for the updates Terry – yup, I ran it passed my accountant who had similar views as well.

]]> 82b66d94099d8ee80b8f75ef50146b79 NM7 replied to the topic Offset Account or not? in the forum Help Needed! https://www.propertyinvesting.com/topic/4406190-offset-account-or-not/page/2/#post-4666352 Tue, 03 Apr 2012 00:27:32 +0000 Terryw wrote:
Are you saying you borrowed money and parked it in an offset account?

Hi Terry,

As mentioned, I use the loan secured against my PPOR as a LOC and fund 20% + extras (eg. stamp duty, etc). The PPOR loan does have an offset account and I dump all our incomes into that offset account to reduce the interest payable on the PPOR loan…[Read more]

]]> 8cc3a788174284032e5639e441f1e525 NM7 replied to the topic property management agent proposal - victoria - is it a good deal? in the forum Help Needed! https://www.propertyinvesting.com/topic/4406229-property-management-agent-proposal-victoria-is-it-a-good-deal/#post-4666690 Mon, 02 Apr 2012 23:54:24 +0000 That’s pretty good rates in my view …. I’ve got a couple of IPs (none regional) & have chosen local agents to manage them as they know the area and based on history, managed to keep my vacancy rates low. Overall, I pay around 5.5% management fees, 1.1 week leasing fees & no other costs for advertising or rental summary statements (both monthly &…[Read more]

]]> 458a12cec26e9cb44ed726b329051634 NM7 replied to the topic Offset Account or not? in the forum Help Needed! https://www.propertyinvesting.com/topic/4406190-offset-account-or-not/#post-4666345 Sun, 01 Apr 2012 08:23:10 +0000 Jamie M wrote:
It does provide flexibility but if Dreaming Big is looking to tap into equity in his PPOR to use it towards an IP purchase, it might not be best to use the funds from the offset (because it won't be deductible). If he/she thinks that their current PPOR might become an IP one day. Then it should be set-up as interest only with an…[Read more]

]]> 90b6378f3ab6645553aa8de4e8e7e8c9 NM7 replied to the topic Loan Structures in the forum Finance https://www.propertyinvesting.com/topic/4405217-loan-structures-5/#post-4659038 Sun, 20 Nov 2011 23:24:40 +0000 Terryw wrote:
NM,I wouldn't like to say too much public, but you could have utilised a dsicretionary trust and possibly a post death testamentary discretionary trust depending on the circumstances.

Thanks Terryw – I'll look more into it

]]> 3783791a1de563916ab124502e32e39f NM7 replied to the topic Loan Structures in the forum Finance https://www.propertyinvesting.com/topic/4405217-loan-structures-5/#post-4659036 Sun, 20 Nov 2011 23:05:25 +0000 Terryw wrote:
Hi NMI just read your other post about the inheritance. You could have structured this much better by utlisiing some asset protection techniques and could have possibly set it up more tax effective too. Still doing well though.

Hi Terryw,

Thank you kindly for your feedback and would appreciate your thoughts on asset protection…[Read more]

]]> 5474f6c307f2e720011579878aaa5dd1 NM7 replied to the topic Loan Structures in the forum Finance https://www.propertyinvesting.com/topic/4405217-loan-structures-5/#post-4659034 Sun, 20 Nov 2011 22:41:39 +0000 While I agree that there are some good lenders offering good rates with no fees, I would suggest doing some due diligence to ensure you aren’t getting a bad product. I highly recommend using a Mortgage Broker rather than testing the waters with some online lenders which lure you to attractive rates but have poor customer service & in the long run,…[Read more]

]]> 35c7cc02d8e50cdad336941dfaea8417 NM7 replied to the topic Loan Structures in the forum Finance https://www.propertyinvesting.com/topic/4405217-loan-structures-5/#post-4659028 Sun, 20 Nov 2011 07:42:31 +0000 I’m no expert in these matters but I’ve got 4 properties currently (1 PPOR & 3 IP) whereby I’ve taken loans (secured individually, no cross collateral) from couple of lending institute. I’ve recently re-valued my PPOR and another 2 IP to top-up 80% LVR for equity access. My PPOR is fully paid-up but I’ve taken 80% loan against its current value…[Read more]

]]> f8f75ea5fe82de57133a893b96692e16 NM7 replied to the topic Clarification of some negative gearing principles in the forum Finance https://www.propertyinvesting.com/topic/4405224-clarification-of-some-negative-gearing-principles/#post-4659082 Sun, 20 Nov 2011 07:11:44 +0000 I’ve been in a similar boat whereby I inherited a decent pool of money from overseas. I used the funds to pay-off my PPOR and the balance was parked in an offset account for an investment property. That way, while I’m planning for my next investment move; I get to lower down the interest I pay on the investment property (after having nil interest…[Read more]

]]> 381d4e247e7f6970e481b88a32901f50 NM7 replied to the topic So what rate interest rate are you getting in the forum Help Needed! https://www.propertyinvesting.com/topic/4402806-so-what-rate-interest-rate-are-you-getting/page/5/#post-4642084 Tue, 25 Oct 2011 03:11:03 +0000 camjanice wrote:
I use bankwest.  Rate is 6.85% (no honeymoon) with no annual fee.  At the time I took out the loans there were no application fees and 100% offset account with a minimal monthly fee.  Only problem has been bankwest was slow to process my loans and I was late for settlement two out of two times!  Living in remote WA didn't hel…[Read more]

]]> fdbac30dc736eafa85a14d3d928af842 NM7 replied to the topic So what rate interest rate are you getting in the forum Help Needed! https://www.propertyinvesting.com/topic/4402806-so-what-rate-interest-rate-are-you-getting/page/4/#post-4642082 Mon, 24 Oct 2011 23:54:27 +0000 EPI_Den wrote:

propertyboy wrote:

EPI_Den wrote:
I'm with Commonwealth Bank and I recently negotiated a further decrease on my loan. I'm now on 6.61% which I think is 1.14% below their standard variable rates. I'm happy with this but it's not out of the question to fix part of it if I see a really good deal! :) Den

How did you negotiate this?…[Read more]

]]> 33a6d789d05073f1a0db287b9f97d784 NM7 replied to the topic Should I fix rates for 1, 2 or 3 years now? in the forum Finance https://www.propertyinvesting.com/topic/4404998-should-i-fix-rates-for-1-2-or-3-years-now/#post-4657663 Thu, 20 Oct 2011 05:55:45 +0000 Hi all,

Just wanted to share the news that I got CBA to provide a 1% discount on current variable (hence at 7.81%) which is good as I previously only had a 0.8% off. I’ve spoken to a couple of brokers including Michael & will wait to see what options I do have particularly in the fixed world before making the next move.

I fully agree with…[Read more]

]]> 6d96c33ad0eb6d07cdfe94f8bfc51e1a NM7 replied to the topic So what rate interest rate are you getting in the forum Help Needed! https://www.propertyinvesting.com/topic/4402806-so-what-rate-interest-rate-are-you-getting/page/4/#post-4642069 Thu, 20 Oct 2011 05:49:41 +0000 Hey Marie,

Fixed rate of 5.2% is very good in my personal view as most fixed are currently around 1% more than that. How long is your fixed & whom are you with? For your info, I’ve got a couple of loans with CBA @ 6.81% (just got the 1% off today), another with Bankwest @ 6.78% and another with Adelaide Bank @ 6.74%.

Currently, am in the market…[Read more]

]]> 4c8dfa94214b979ed06630137c8c1aab NM7 replied to the topic So what rate interest rate are you getting in the forum Help Needed! https://www.propertyinvesting.com/topic/4402806-so-what-rate-interest-rate-are-you-getting/page/4/#post-4642065 Mon, 17 Oct 2011 05:52:43 +0000 Hi All,

Just wanted your thought on 6.25% for 1, 2 or 3 yrs fixed with Citibank … no application charges, Citibank covers $500 cost for valuation & currently also offer $1000 cash back for taking up the offer. I currently have an investment loan with Bankwest on 6.78% with no exist fees. Question is – historically, how low has fixed rates been…[Read more]

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