Great read, thanks,
We paid part water for a NSW IP because of the 'garden factor' but want the tenant to pay for the in in the ACT but the agent says we have to. Has anyone had any experience in Canberra on this one?

Rusty

Looking fantastic mate! Good stuff!

Hi Terry,Sorry, I was rambling a bit, but you answered my query perfectly so I wont waste any more of your time. Thanks, you're a wealth of information!Rusty

I guess it begs the question tho, is an 8% return the minimum that we shoud be aiming for or do the numbers still not work at 8%? I'd be interested to hear what returns people find works for them – Obviously it depends on costs etc because it's a gross figure. Rusty

+1 to what others had said. We looked into it, too but by the time they take out the 16% it left a very low yield. Having said that, you get the property back in good condition because they repaint after their lease (I think it might be after 3 years) and recarpet for a longer one (5years, maybe longer??) This, and a guarenteed rent would make it…[Read more]

Thanks for the ideas. Certainly something to think about.Rusty

Thanks for the advice Shane.

I'll keep you posted!

Shape, Funnily enough it was the one bank I initally refused to go to because of a previous customer service issue … but given the complexity of our purchase (primary production on a residential loan, etc) they were the best this time round for us, the 0.9% brought us down to not much less that where we hoped to be originally.  I agree 1% is a…[Read more]

We've just been approved for a 0.9% discount with Westpac on a loan of over $800000 but the broker is hitting them up for 1% because the LVR is only at 42% – Worth a shot.

Hi Shannon,Good question, I'm actually considering doing the same but haven't researched it too much. We've had the same tenants since the day we bought the place in 2006 and while the PM rings occassionally and tells me its about time to put the rent up or that she's had an inspection and it's all good, it seems to be money for nothing? – Okay,…[Read more]

lol.I know, it's very hard to put into the written word! But thank you for your input, as always!As you said, it sounds possible, we just don't want to get it wrong.Enjoy your weekend.Rusty

Terry, We're purchasing my mother's property as part of my dad's estate. She'll be gifting the money I give her onto my brother (I'm effectively buying out his future inheritance.) As part of the agreement my brother will be using some of the cash to buy a house for my mother to live in. The easiest thing is for my brother to buy her a house after…[Read more]

Okay thanks, Now that I know it's do-able I can investigate further to see whether it's an option or not. Maybe gifting might be the go.Many thanksRusty.

Thanks Terry, I did say without going into too much detail! Is this a straight forward process?

"need to get for it at trade in to finalise payment.""No, you just hand the keys back and walk away. Then the lease company will on-sell it. Check out any lease companies website and they'll have links to ex-lease cars for sale/auction."Sorry Bj, you're right. I was using the term 'trade-in' loosely. I mean you need to try and avoid the situation…[Read more]

The way I see it, the balloon payment (or residual) is the amount owing at the end of the lease when you either buy the car outright (not so common but that's what we did) or need to get for it at trade in to finalise payment.From someone with a 4 year uni degree – I agree with the tradie thing… hats off to all the tradies on the forum!

This one got me thinking…. Small business owners regularly run their cars (amongst other things) through their business. They're paid for using business funds from their business account, as opposed to simply claiming for a percentage of use. Yet as an investor I'm told that we can only claim a percentage of expenses (ie. travel to the property…[Read more]

I've previously packaged a car with a novated lease over a 3 year period. Loved the feeling of getting 'free fuel'  – obviously you pay for it but not having to worry about how much a weekend cost was fantastic!Pretty sure you can do between 1 and 5 years and I think the weekly cost doesn't change regardless of how long the lease is but the…[Read more]

Hi Engelo,Geez mate, you've had a busy few months – well done!