Dukduk, Overcapitalisation means spending more money on an investment than can be justified – this is an analytical decision based on what the property is worth at present, how much you are going to spend on improving it, the end market value and any cashflow generated – then comparing it with similar properties.In your case, you will need to ask…[Read more]

Whilst your house is your residence there should be no issues with redrawing any or all of your money (providing you are able to meet the bank's requirements). There may be an issue should you decide to use the house as an IP in the future and claim the interest on the money which has been taken out (depending much upon the fashion that you will…[Read more]

C2 wrote:
Are the 2 smaller ones in the same block?

As with other investment decisions there are pros and cons – buying into the same block gives you more voting power at body corporate (BC) ie you have a greater interest in the property than someone who only has one unit (this can be good or bad – eg you may be able to block…[Read more]

Copies of the new code and fact sheets are available at http://www.planning.nsw.gov.au/planning_reforms/housing_code.asp

Your solicitor/conveyancer should be able to recommend someone

1 – Don't rely on the REA, in the first instance speak to the town planner at council (Hornsby is reputedly difficult to deal with ie very slow). In the first instance you could probably deal with council but if you need to get a spot rezoning it may take up to 2 years (so avoid a spot rezoning).2 There are a few project home builders who do…[Read more]

Don't listen to the agent – do your own investigations. The agent is working for the vendor and in the vendor's interests.

You can always create a binding nomination in your super ie you must nominate who is to recieve your super (& insurance payout) in the event of your death) – speak to your super fund manager about this.

It all depends upon who is building ie if it is a project home in an estate timeframe for DA & construction may be shorter, project home on your land or one-off timeframe is very dependent upon the council and the quality of plans presented (some councils even require impact statements, traffic studies etc).As for inclusions or more importantly…[Read more]

Sydney & Adelaide are both big places to research if you are not familiar with either. I'd suggest looking at a few of the council websites, dept of lands, dept of planning, as well as where the project home builders currently have display villages. These will give you an idea of the areas to research. Also look for newpaper articles highlighting…[Read more]

Linar wrote:
Does it literally mean to never ever sell and leave the property to the kids one day? 

Possibly but more likely a long-term hold position 

Linar wrote:
Or does it mean to hold on to until it is old enough that maintenance eats up all the cashflow? 

You fail the investment strategy here ie you need to add value at some point in t…[Read more]

crashy wrote:
trying to, yes. thats what happens when the tenants complains for 5 months about 50+ faults & issues 2 x form 11 which go ignored

If the issues are legit, take it to the tribunal – you can probably seek advice on getting the PM reprimanded by dept of fair trading/vcat etc too (ie affecting their licence).

The vendor should have used his cooling off period when signing-on with the agent and recinded the contract since you and he had already negotiated the deal.

If you move into the new property then the interest on the loan is not deductible. If the new house is not your PPOR then it will be subject to CGT as you cannot have 2 ppor simultaneously. Consider the possibility that the new house is your ppor and pay cgt on your current house for the portion of the time that it was an IP (since moving into the…[Read more]

Same regs as building any other multi-occupancy dwellings ie apartments. Most people progress down the line to strata as it is much easier to liquidate a few if ever needed.If you build poor quality flats, you will get a return reflecting that investment.

Your conveyancer should be able to answer all of your questions ie vendor's conveyancer should prepare the sale contract, especially if the vendor has a S32. Ask for the deposit to be put into an interest bearing deposit (needs to be a trust fund).

Gloss is in the makeup of the paint you select the level ie low sheen, flat, semigloss or gloss. Low sheen hides defects, gloss highlights them. Flat paint is generally very difficult to remove marks from if damaged (used for ceilings).Antimould can be added just prior to mixing (on the job) – comes in a little jar.

Stratum title can co-exist with strata title. Stratum allows you to undertake further work to a property eg staged development or mixed retail/commercial/resi development with 2 separate holdings.The benefit is you can develop stage 1 (say basement carparks and shopping centre and have this as a stratum, the second stage  being commercial can h…[Read more]

Income protection insurance will only cover income lost from not being able to work ie salary, commissions or drawings it will not cover any incapacity to manage the property. Consider boosting your life insurance through your superfund (more tax effective apparently)/make addit salary sacrifice to cover it or if you are in  a low tax bracket an a…[Read more]

Advise your solicitor that the morning of settlement is insufficient time to settle – reschedule settlement for next week & have the inspection the day before.