[rusty05Member@rusty05Join Date: 2011Post Count: 94]

October 11, 2012 - 2:44 am

Great insight Shape, thanks!

$75000 to strata, wow, I didn't realise it would be so costly.

Just on your last point about the water… Do you mean you can get the tenants to pay for water if you can put in individual meters? How much would it cost to get the extra meters fitted?

Rusty

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

October 10, 2012 - 3:48 am

Hi guys,

Just a quick question about the new site, apologies if it has been already covered.

I liked being able to scroll down the 'recent posts/activity' section of the old site and there was no limit to the age of the 'recent posts' if that makes sense. They just came up chronologically. The new one shows a few recent posts but I find it difficult to see what's been going on without having to go into the actual sections ie 'Help needed'. Does that make sense? Sometimes I just want to check out the new stuff without actually knowing what section I'm looking for.  Maybe I'm missing something.

Rusty.

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

August 12, 2012 - 11:15 am

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

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

August 9, 2012 - 9:57 am

Looking fantastic mate! Good stuff!

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

June 13, 2012 - 3:37 am

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

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

June 3, 2012 - 11:40 am

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

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

May 31, 2012 - 3:42 am

+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 attractive to some set and forget investors.
Rusty

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

January 24, 2012 - 10:06 pm

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

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

January 23, 2012 - 11:16 pm

Thanks for the advice Shane.

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

January 23, 2012 - 5:58 am

I'll keep you posted!

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

January 23, 2012 - 5:24 am

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 an ask but we'll see

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

January 23, 2012 - 4:38 am

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.

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

January 23, 2012 - 4:34 am

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, I'm not that naive but I think you know what I mean. We all put so much effort into trying to find a CF+ deal and here I am giving away $3000 a year???

I know a good PM is worth their weight in gold when there's a dispute, but perhaps with a bit of relection on the type of tenant we have it might be money well saved and the difference between as Negative Gear and a CF+ IP.

Also I've heard of some property managers agreeing to a 'finders fee' of a week or two in rent, where they advertise, screen the tenant etc and then you manage the IP yourself. Is this a myth or is it do-able?

Interested to hear other thoughts.

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

December 17, 2011 - 8:32 am

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

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

December 17, 2011 - 6:13 am

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 being gifted the money after settlement. But we're just looking at ways to line up all the settlement dates so she could move straight into the new place before we settle on hers. So if mum could use some of her funds and and get a small loan to buy the house in my brother's name before we settle on her place she could then move in and we could move straight into her place. Then she could gift the remaining money to my brother.

I know it sounds complicated and we'll obviously be talking to our solicitor but I just wanted some background information.

Thanks very much,

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

December 17, 2011 - 5:14 am

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 thanks
Rusty.

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

December 17, 2011 - 4:32 am

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

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

November 2, 2011 - 11:46 pm

"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 where the car is worth less than the residual when you give it back.

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

November 2, 2011 - 5:25 am

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!

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

November 2, 2011 - 3:42 am

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 a few times a year etc). If you run your investing operation as a business (trust?/corporate trustee etc) is it possible to run a novated lease through it so the payments come from the business and not our own funds? – Maybe I'm making this more complicated than it needs to be… Put simply if you have a positive portfolio can you pay for a car out of it and let the business take a hit like all my rich tradie mates???

Rusty