Without knowing what state you are in, the type of contract that you have signed or the penalty clauses it is difficult to comment.

2 options – contract of sale (for a nominal amount), although your mum will be up for capital gains tax on the market value (if this is not her PPOR)Gift the property to your brother & yourself – same issue.It does raise the question of whether your mother would then be seen as having disposed of assets in order to recieve a pension (so…[Read more]

Remember when you are comparing returns you should consider net returns excluding the cost of finance and tax so that you can compare other asset classes eg shares.

You need to get your tenants to note on the direct deposit who it was from, otherwise there is no way of keeping up with it (especially if you have a few tenants paying the same amounts). Rentmaster can upload your bankstatements but I am not sure what it does to incorporate payments against tenants (most don't have that feature).

Also note that in some states you must nominate the purchaser at the time of signing the contract ie Joe Blow & Peta Blow or Smith &Weston Family Trust you cannot leave it open or have 'or nominee' .

1 – if you take money of your PPOR, then these funds are for investment and may be deductible – absolutely nothing wrong with using existing capital for investmentThe issue becomes if you then borrow (refinance) to pay back your house – this is nondeductible finance. You may need to consider parking some of the money paid on the IP in an offset so…[Read more]

That is a body corporate issue –  you will need to check whether this has been raised with body corporate/strata manager. In nsw unit builders are not required to have warranty insurance (just need to check http://www.fairtrading.nsw.gov.au ) – if the building is more than 7 yrs old then you wouldn't be able to have a claim.

For what it's worth, SEPP5 developments (NSW – over 55's) are a pain to sell, even in a strong market. There is a restrictive covenant as to occupation, requirements for an accessible apartment (including benches, doors etc) which make it appeal to a very small segment of the market. At the upper end of the market, you can still buy an…[Read more]

You will need to make sure that the council does not charge rates on the parking space at the standard rate (it may well outstrip any return).

Plenty of proprietry systems out there some better than others (look at Rentmaster – free trial available for download or manaccom [property pro and POSH]).The system keeps track of all rent & expenditure as well as creating reportsUse one bank account, you know how much rent or which date the tenant is due & you check payments online.

The main issue will be that you will be up for hefty break fees – ie the difference between the fixed rate and the current interest rate – this may mean an extra $100k+. It is just like any other retailer, they do not have to accept your 'return of goods' for a refund unless they are faulty or are not fit for the purpose ie if you have changed…[Read more]

If you disregard Jun 08 – AUg 08 in table 1, prices are effectively stagnant on a slightly diminishing land area (this can reflect several factors – blocks are getting smaller, they are being sold with newer houses, they may be better located to facilities etc) – likewise Dec/Feb 07 has similar negative bias.Whereas villa sales may be more di…[Read more]

Are you joint tenants or tenants in common? Joint tenants means that there is a right of survivorship and the property cannot be transferred to other parties whereas tenants in common means that you could sell your share to another person (and the last one standing does not get the property).The main issue with subdivision is 'what half is yours?'…[Read more]

Approach one of the local agents to see what a comparable unit will cost to buy & how much you could achieve in rent ie do a property inspection on a unit without any intention of following through. This should give you the numbers, if not speak with a property manager with the intent of a new managemet for an idea as to what it would rent for.

Interest rates, pause before an election etc.

Owner building, unless you have the time & skills to put into the project, is a hap-hazard & high-risk process fraught with danger. (I don't say that lightly). As I have asked many clients in the past "how do you make money?" & they reply with whatever their line of business is ie their expertise. Why undertake something you have little or no…[Read more]

AS wian indicates, units are the only choice in many  parts of the world, planners in Aus are pushing that way. When the realisation hits that it is cheaper to live in/around the cbd, not to commute (by car) and that entertainment is at your doorstep – then the pros of city living will boost capital appreciation. As per usual, you need to…[Read more]

Terry, if it is the 'Astor' that you are thinking of, then it has always been very exclusive (it is on Macquarie St afterall). Prior to Strata Title becoming law in the 1960's or thereabouts, Company Title was the only means by which you could give unit holders title to a property. I  believe that it is no longer possible to create company title…[Read more]

Read the information under FAQ on the OSR.nsw.gov.au website – if you are defacto, married and one of the partners owned or has previously owned property (excluding land or commercial) then you do not qualify. Get a separation, live apart, buy the property in his name then reconcile a few months later. In the meantime, you go overseas for a long…[Read more]

Further to Richard's point, only a Quantity Surveyor or Registered Valuer can provide you with watertight documentary evidence of cost  for tax purposes – ie you can't get a real estate agent, builder, handy man, mate etc to provide this information.