bnd wrote:

So my question is, do we have to sub-divide first? 
We are going to own both homes on the property anyway, is sub-divison only more important when on selling? 

If the zoning allows it then you are allowed to have two dwellings on the one lot of land. They would be considered 'detached dual occupancies' which may be subdivided…[Read more]

Hi Kara,

Interestingly enough we were engaged by Kempsey Shire Council to write their draft LEP. Unfortunately you just missed the boat with putting in a rezoning application under the exhibition period. This would have saved you alot of time and money.

In a nut shell, a rezoning application requires you to provide justification as to why the…[Read more]

Shape wrote:
Let them know you want to release some equity to invest into property – they will automatically ask you if you have found a place , as they would want to finance and lock you in for the 2nd mortgage as well

I'll provide you with a general run down that suits 70% of investors…however you should really obtain personalized advice…[Read more]

Catalyst wrote:

Paul B. wrote:
Also grab a tub of spackfilla and fill in any holes before you paint! Well worth the extra couple of minutes effort.

I can't believe how many people neglect to do this. I saw a house once that someone had bought to flip. They hadn't prepared the walls AT ALL. Just painted right over what was there. Chunks out…[Read more]

Hi Michael,

Apologies for carrying this conversation over two forums haha. For everyone else's information; Regarding my circumstances, my partner and I are currently paying off a PPOR. We have built up some equity and we are looking to get into the investment game ASAP. I am therefore looking for an affordable property that has reasonable yields…[Read more]

Will be watching closely!

Also grab a tub of spackfilla and fill in any holes before you paint! Well worth the extra couple of minutes effort.

Sounds good ksun. Goodluck!

Get on youtube and type in a few key techniques for example: how to cut-in walls, how to paint skirting boards, how to test if paint is water-based or oil-based etc. Just some simple guidance will save you a lot of heart ache.  The painting videos posted by bunnings will also give you a rundown of what supplies you will need.

Blue 3M tape is the…[Read more]

In NSW, generally a QS Certificate is required by Council to verify the development approval pathway. For example, if a project is going to have a capital cost in excess of $30 million, the the project is recognised as a regional development and is to be assessed by the State's Planning Assessment Commission, not Council. I can't see why a…[Read more]

You still need to give short-medium term margins fair consideration because they will reduce the liklihood of your investment being a dud in the long term. If the figures don't stack up short-medium term then you are putting all your eggs in the 'long-term capital growth' basket which is risky.

I think when you tighten your figures up you need to…[Read more]

Council will rarely accept a stormwater design where runoff is discharged directly onto adjacent properties. As pointed out by Brazen, a dispertion pit would be an affordable solution.

Check out the free suburb report from http://www.residex.com.au – that will give you some background from an investment perspective

On the topic of claiming depreciation…

If you renovate an investment property, can you only claim the set depreciation rate per year for the renovations? Also, I assume you are unable to claim depreciation once the property is sold?

Terry/Jamie et al.,

If I were to turn my PPOR into an IP does the interest on the loan from that point become tax deductible? I recall you saying that it is only tax deductible if the purpose of the loan was for an investment (which it wasn't, it was to buy our home).

What happens in this situations?

Hi Tracee,

Generally speaking investing close to the CBD would be a safer long term option. Regional properties require a little more finesse in timing the market to see strong capital growth. I think all property types (houses, duplex, apartment, units etc) have their place in the market, its a matter of understanding who wants to live there and…[Read more]

Hi Kat,

Since no one has taken the time to help you Ill have a stab. Please take my advice with a grain of salt.

Regarding you loan on your PPOR (soon to be IP) – from what I have read it is best to convert the loan to IO with an offset account attached. The difference in repayments (between a P&I loan and a IO loan) should be placed into the…[Read more]

Keep us posted Shane! Some before, during and after photos would be great.

JacM,

I got through a quote through AAMI for house and contents ($30000) + landlord protection for $1500. Does this sound reasonable?

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