Hi BenRenting your Sydney house out is a simple process but it's made all the easier by making sure you get a great Property Manager (PM) to look after your asset.  I'm sure our fellow forumites will be able to direct you towards a great PM in western Sydney.Also, it's worth talking to your accountant about the Capital Gains Tax issues involved i…[Read more]

Hi ChrisI'd definitely get a new Property Manager.  You have been fed a load of rubbish.  Sure, ultimately you and the tenant will come to some form of agreement, even if that agreement is that the tenant leaves.  But no where in the legislation does it say that the tenant can dictate the length of the lease.Cheers,  Paul

Hi dabaAs you can see, with a "standard" call option your strike price and profit margin are visible to your buyer.  As I mentioned earlier, we use an option document that includes a "Higher Price" clause.  The effect of this clause is the new buyer does not see your strike price or profit margin.  Thi may or may not be attractive to you.  It depe…[Read more]

Hi mrpropertyWe prefer brick veneer.  It may be an old fashioned "aspirational" issue, i.e. along time ago, workers cottages were weatherboard or fibro and the white collar, "upwardly mobile" suburbs were brick (back then, double brick).  My gut feel is that old idea still lingers.Cheers,  Paul

Hi LeighWe found Paul Siderovski to be a great "outside the box" accountant.  Not cheap though.  You can get his details at:http://www.sidcor.com.auWe use Tony Cordato in Sydney as our solicitor because he's the best at vendor finance and coming up with new ways to get things done.  Tony's office number is 02 8297 5600.Our experience is that yo…[Read more]

Hi SeanWould you be able to give us an idea of what you've got planned for these properties, i.e. are you looking to control them so you can get a DA in place for the property or are you looking to do back to back lease/options on residential property?Cheers,  Paul

Hi squidgieQuite a few people we know in Victoria use and recommend Gatherum Goss and Associates:http://www.gatherumgoss.com/Cheers,  Paul

Hi propertymistoThe calculator on the following web page is interesting for checking out how the various Stamp Duty systems work in each State:http://www.rams.com.au/default.asp?page=/calculators/stamp+duty+calculatorWhy are the different?  Politicians  Cheers,  Paul

Hi SteveAs you mentioned "Contract" I'm guessing you'll be using an Instalment Contract (IC) for this sale?  If this is the case you will be regarded as supplying credit.  You mentioned that your building a new 4 x 2. To work out how you need to handle this transaction, you need to ascertain if your loan, under the IC, is "regulated" by the cu…[Read more]

Hi wealthyjvdI think all your options are ok.  From my point of view I probably wouldn't go with options "a" and "c" because it'll be quite a long time to payday.  Option "b"' is ok but you've already got one negatively geared property.  Albeit, not negative by much.Possibly do a little research on the various positive cash flow strategies in the…[Read more]

Hi VeronicaI agree wholeheartedly with Richard.  Getting the correct structure for your loans and the entity you're going to buy in, is very important at this early stage, i.e. it stops a lot of headaches down the road.  I'd suggest you give Richard a call.Cheers,  Paul

Hi JeremyWe have been operating a real estate vendor finance buisness since 2003 and heve helped quite a few people do what you're suggesting.  Please feel free to give me a call or drop me an email.Cheers,  Paul

Hi VeronicaWe tend to prefer houses to units.  I guess we agree with the old adage that land appreciates and buildings depreciate.  It has worked well for us so far.  However this rule of thumb tends diminish as you move closer to Sydney CBD (and Parramatta and North Sydney CBD's to a lesser extent).A lot of people put their first IP's into the na…[Read more]

Hi jezzahSome of the Discreationary Trust Deeds I've seen, nominate just about everyone in the universe    and certainly all the companies you're involved with, so no, your beneficiaries are not limited to immediate family.Cheers,  Paul

I like that duckster. you do the work and we get the kudos.  Thanks  Cheers,  Paul

Hi NGAnother alternative you may consider is buying a property with vendor finance.  In this case you will normally pay a premium price as against the premium interest rate you would pay with the two non-conforming lenders mentioned above.  However vendor financiers usually have a smaller deposit requirement.Quite a lot of vendor finance pr…[Read more]

Hi norellcBased on this post:https://www.propertyinvesting.com/forums/property-investing/help-needed/4330530it may not be available at the moment.Cheers,  Paul

Hi LostyI'd suggest you read this forum thoroughly and subscribe to a magazine like Australian Property Investor (API).  it has some great articles for newbies and has quite a few stories about couples who have started from scratch and done very well.Once you have become familiar with API and found a area of property investing that appeals to you…[Read more]

Hi DanielleMay I suggest you have a look at the Vendor Finance Association's website at:http://www.vendorfinance.asn.auThere is a link on the site called "Meetings and Membership".  This will give you the list of all VFA meetings throughout Australia for the rest of the year.  These meetings are a great place to get to know other Vendor F…[Read more]

Hi AllWhen you look at D's numbers, no wonder a lot of people are trying to move away from the major cities.  We just sold a 3 bed brick and tile place in the Coffs Harbour area for $289,500 and another 3 bedder in the Hunter region for $265,000.  Getting work in the regional centres is the catch I guess.Cheers,  Paul