The median price is a skewed assessment of the market – skewed based on the last year's sales. That is, if there have been no new projects then the median will be much lower than price of newer units, if there has been alot of activity for new projects, then the median will be artificially high.It is best to understand how the numbers work,…[Read more]

If I ever have a problem with a property manager, I escalate the issue to the licensee of the REA. They are responsible for the running of the agency. If they are unwilling/unable to assist, take your business elsewhere – even if it means going out of the area.

One condition of the FHBG is that you actually live in the premises for 6 months within the first 12 months of ownership (although if it is being built it may be difficult). Also, if the house is being knocked down then it may be better to buy it with a contract for construction already in place to recieve the increased grant for a new home. If on…[Read more]

Remember that SJ's comments are general and relate to the US market – bonds in NSW & other states must be lodged with the Dept of Fair Trading/Rental Bond Board. You should always screen your tenants sufficiently for your own situation.

Better still Brett, you lock in tomorrow's price (ie price at the time of settlement) today – why lock in today's price in a depressed market?

Have a chat with your solicitor about your actions on the caveat. Depending upon what your agreement with the parties states as to the % that you share any profit/loss will limit what the caveator could recieve.Also approach the sale from a different angle – speak to the agent and sell the site subdivided with DA in place for the new houses (you…[Read more]

Once you have identified a suburb (and preferably a house with the contract in hand, so that you aren't wasting council's time) visit the town planner. It will pay to download a copy of the LEP and the zoning map for the suburb.

Google David Cameron – that is what it is does.

K, there are too many unknowns for anyone to put a guesstimate to your needs – you may get away with less than $2k if you already have a room with a graded floor/waste, good & easy underfloor access, easy access to water supply & sewer and reusing sink etc. On the other hand if you need to build a new laundry with new fixtures & fittings, no…[Read more]

Generally an agency agreement is done on an exclusive basis in order for them to procure the best tenant and to work in your best interests (would you compete for the sake of a couple of hundred dollars?). Interview a couple of property managers, find out how many properties that they have, the number of staff looking after those properties, how…[Read more]

Get the property manager & tenant to find an alternative tenant & whether you get the current tenant to pay the costs of replacing her then becomes an easier decision.Has the tenant stopped/reduced using the heater? Otherwise her bill will be higher again.

Generally offers pre-auction will require a S66W or similar to waive the cooling off period.

Jim, as with all investments you will need to undertake your due dilligence (more than just doing the numbers), you will also need to be prepared to handle long vacancies eg 6-12 months in return for a 3-5 year lease. You may have to provide incentives eg rent free periods or capital towards fitout, you will need to engage a solicitor (or a very…[Read more]

If you plan to purchase under auction conditions then you have been given sufficient time to undertake all of your investigations including pest/building inspections. A vendor will not accept an unacceptable risk post auction for the contract to fail – if you plan to have additional terms added to the contract you must get these negotiated and…[Read more]

$16K buys a helluva lot of CPD or real courses. So I'd be wary of what someone could teach me for $16k no guarantees.

I usually get the vendor to agree to a very short term lease-back ie 1 month (or less), rent is factored into the sales price & settlement is made as a going concern.

Why would providing solar panels mean you could charge more for your property? If you put in water saving taps & dual flush toilets did you ask for more rent? When you put in windows/skylights to allow in daylight, do you ask for more rent as theydidn't need to use the lights as often? If it rains, do you figure that they don't need to water the…[Read more]

It depends upon the style of house & whether the sills are required to match any other sills in the house. If you don't need them don't put them in – added $$ for no return (They'll probably sit behind curtains anyway).

Jezza, a prerequisite for FHBG is that it is to be a ppor within the first 12 months. Buying a development site does not preclude you from getting the FHBG on another property.

If you are in NSW: NSWHCAP