Hi AndrewIt's not always the case but a 3 bed apartment in Newstead, Brisbane springs to mind.  The guy we got it from paid $440K from the developer and 12 months later couldn't sell it for $390K.It's also worth looking into the case of the Pacific Blue development in Salamander Bay.  A couple of years ago we were offered a dual key apartment fo…[Read more]

Hi MitchI'd probably refinance with one caveat and that is, what will your deferred establishment fees be?Cheers,  Paul

Hi KondalillaOne factor that may influence your decision is the future cash flow position of your new purchase.  If you're planning to purchase a cash flow positive property then I'd probably buy it now so I don't miss out on the extra money in my pocket for 1.5 to 2 years.Of course, if you're planning to purchase a negative cash flow property, th…[Read more]

Hi AnaI leave others to comment on the best way to go regarding disposing of one or keeping both properties.  However it seems likely that you will end up with a Line of Credit on one or two properties.One point to watch out for is your mention of working"part time rather than full time."  As you are looking at buying more IP's I don't think it…[Read more]

Hi DamoA lot of people endorse Gatherum Goss at:http://www.gatherumgoss.com/Cheers,  Paul

Hi JacMIn NSW I can't see why not.  May I ask what you're trying to achieve by the use of such an offer?Cheers,  Paul

Hi riderI did a google search for "convert company title to strata title".  The first on the list was:http://www.cml.com.au/news/2004/020.htmlIt contains a lot of useful information and there are a lot of other appropriate "hits" in the google list as well.Cheers,  Paul 

Hi AndrewYes we used an 80% LVR loan to buy the property.  From looking at your other posts on this, I think the reason you've only been offered a commercial loan is because the property has 6 units.  As far as I know, this reclassification to commercial happens as soon as your property has more than 4 units.I'd suggest you have a talk with R…[Read more]

Hi new2da02Considering the positive cash flow you're currently receiving from your existing IP and my assumption that this $65K property will also generate positive cash flow, I'd go for it.  With one proviso, as Adam mentioned, i.e. the availability of a "good to fantastic" property manager.Cheers,  Paul

G'day BenjaminI'd declare it all on your tax return.  Your accountant should be able to work out some reasonable deductions for the unit and also have a formula that the ATO accepts for "full" boarders.Cheers,  Paul

Hi AndrewWe and two friends recently bought a buy & hold property with a unit trust with a corporate trustee.  The units are equally divided and owned by our separate Family Discretionary Trusts.  We feel comfortable with this structure and it also works well in regards to Land Tax (in NSW).In relation to lending to Unit Trusts, I wouldn't give u…[Read more]

Hi MattInteresting article and it seems to bear out our current experience, i.e. we as vendor financiers have seen large increases in vendor finance buyer enquiry over the last six months.  The increses we've seen are mostly from people with good serviceability but insufficient deposit (savings).Not sure if I should thank the banks or not  Cheers, …

Hi KenWe had exactly the same problem with our unit and the Strata Manager was great and got it fixed quickly.  You certainly seem to be working with a bad Strata Manager.  Have you had a talk with the President of your Strata Committee?Once your strata president understands the potential structural problem this could cause to the building, I'm s…[Read more]

Hi propertyboyhttp://www.rent.com.au/landlord.aspmay help.Cheers,  Paul

Hi propertyboyAround here, Port Stephens, NSW, we can also buy the full Residential Lease kit from the newsagent.This may be better than just getting a copy of the Lease agreement because, apart from the Lease agreement,  there's a whole lot of other stuff you've got to do when setting up a residential tenancy in NSW.  The kit contains the R…[Read more]

Hi thesalmonWe've just sold a 3 beroom home in Morwell, Vic for $147,000 with vendor finance.  The new buyers paid a deposit that was made up of the FHOG and $3,000.  There are more of these vendor finance properties at:http://www.renttoownhome.com.auI don't have any interest in this site, apart from advertising our properties there.Cheers,  Paul

Hi BaobaoloverYes, it is likely that there will be double stamp duty, i.e. both you and the new purchaser will have to pay stamp duty.I suggest you take your contract to a solicitor or conveyancer and tell them your plan.  Solicitors and conveyancers are doing this every day and it will be very much easier for you to get them to do it, as they…[Read more]

Hi propertyboyYou may get returns and prices like that up in the north west of Western Australia, in towns associated with the large mineral and oil & gas developments in the area.  However there's never a free lunch   Oil and mining booms do bust at times.Cheers,  Paul

Hi KCMUnfortunately there doesn't seem to be a "one size fits all" answer.  The best answer for you, is based on many things, including your stage in life.  For example, in regard to the 99% / 1% arrangement you mentioned, you may chose to keep this property well into your retirement, with the result that you wouldn't be able to split the income f…[Read more]

Hi EllaHere are a couple of ideas:ACCOUNTANT:  Bruce Whiting, Business Artisans P/L, Ph: 02 9521 6942LAWYER:  Tony Cordato, Cordato Partners, Ph: 02 8297 5600We use Tony all the time and Tony recommends Bruce Whiting.Cheers,  Paul