Conditions of this sale are unfortunately commercial in confidence. Lest to say it involved having the vendor register a major subdivision, removal of an easement and other unfavourable conditions.

It is call extinguishment of a lease. A tenant, or sub-tenant who buys a property that they occupy effectively extinguishes the lease, likewise it cannot be done in reverse. You may have to 'move' the property into a trust, have the trust rent it to the company and inturn to yourselves.

My mob paid deposit on Tuesday 3/5 (after substantial negotiation period). Settlement is tomorrow. Dumb ar$3 solicitor on the purchaser's side did not put an express clearance on solicitor's trust fund cheque GRRRRR!!!! Worked my magic, settles tomorrow.

If you own a second unit, then you have twice as many voting rights as the others when it comes to body corporate. You have all the more reason to be involved with the BC etc. If it is a good block of units, the sums stack up then you might as well consider it.

Quite a few around St Leonards – try http://www.lhogroup.com.au/ but there are plenty of others.

The only way around paying stamp duty on the purchase price is to purchase the property as an 'option' – you pay SD on the option price not the purchase price.As for cgt, you pay at your marginal rate of tax ie $30K x mrt (less if you hold it for one year or longer).

If you do it as a 'one off' owner builder, then you can do one every six years (check dept of fair trading website).

A couple of small points – LVR is around 60% (usually pretty comfortable), good level of equity.Gross rent – 4%, pretty low return considering other factors.As we don't know your full situation and exposure to cgt, risk profile (but assume you prefer lower risk levels) etc would you consider diversification into other types of property which have…[Read more]

There is one thing  that the seminar set will teach you – get in, get hooked, get your wallet emptied. Sure there may be some gems of wisdom offered at some of the seminars (even a few shiny beads) but you don't get that same warm and fuzzy feeling from a book as you don't have some 'guru' jumping up and down emphasising how they did it and you c…[Read more]

You should also keep in mind that an IO loan operates best in a rising market as your property value increases your loan remains static and your LVR decreases whereas in a falling market the risk is your loan may outstrip your capital (PI will at least contribute towards stabilising the LVR).

If you read the article in the SMH you would have realised that many of the properties are unliveable for various reasons (as highlighted above). Many are perfectly habitable however due to mortgage foreclosure (there aren't 1000's of them) cannot be used and likewise people moved into care have a year to rent out their house.This site is no magic…[Read more]

I'd agree with Jon on this one, if you refer to your strata plan (of the whole complex) it will reveal the area of each unit, garage/parking and storage. If they are on separate titles then you could in theory part with possession separately. If they are on the same title then unless body corporate consented and you paid for subdivision plans and…[Read more]

I usually sub it out. Unfortunately I am rarely on site when it happens. With the brush on compounds, they are quite viscous so the brush marks are usually minimal unless the product is starting to go off.

Or was that Kevin 07?

Or was that Kevin 07?

Do a search of the forums – there are plenty of threads.

Any particular state, city or pricetag?

I'd recommend a similar course of action: Make sure that you do have an agency agreement (they can't work on your behalf without one), then check the marketing strategy and the agreed price. Review the termination clauses. Secondly, many markets are feeling the pinch at the moment – how realistic is your 'minimum' price and how long has t…[Read more]

Avoid option 4 – as the property is fully paid you would not have as many deductions as you would if you chose to rent the new premises.Option 5 – weigh up the government's incentive to provide new rental accommodation below market rates. The $8k does not make sense on more expensive properties but it may tip the balance on budget accommodation..

2 other options – have the walls professionally sprayed with an epoxy based paint (lots of fumes but gives an effective change of colour) alternatively tile over the existing tiles (provided it won't interfere with tapware/fixtures).