Donkey, high cashflow generally equates to low capital growth. check some of the previous forums on similar topics of investing in the CBD and its pitfalls. It all depends on your strategy.FWIW i'd be looking at a few of the middle distance suburbs at the moment where there is good transport (rail, TWays  & motorways). They may not be in favour…[Read more]

Thanks – I currently use Property Pro (from the same people as POSH – giving this one a demo). I am also trying a demo of Rent Master & Rent Trust, all sub $1k programs.I find many of the cheapies are limited in what they can do and I don't need a whiz bang system which does trust accounting, or compliance for agencies (divestment of commissions,…[Read more]

As Tools said, Pilks is a manufacturer (another is G James). All glass must comply with the Aust Glazing Code AS1288. Current council requirements also stipulate reflectivity, transmission etc.  What do you consider is 'thin glass"? – 2mm is picture frame glass which was often used in clear leadlight windows (1920's), 3.5 mm approx in most…[Read more]

If you already have the two properties with loans, there is no point in trying to save separately for  a deposit (and paying tax on the interest) – use an offset account as outlined above – you can still get access to your money & 'reduce' the amount of interest that you are paying simultaneously.

As noted above, find out what it is, then control it. Ie work out how much of the land will be affected, can you work with it? If you can work with it, can you design around it – eg leave it in the ground, undisturbed – a minimal cost option. You can then work up an advantage on your competitors in the market by seeing something that they don't.

With regard to determining current market value (or what  your sister & +1 should pay), engage a valuer (not a real estate agent) to prepare a fully documented valuation. This will serve to protect all parties with regard to certainty for the price, certainty for the value for CGT etc. How he then decides to dispose of half will depend on him,…[Read more]

As ZJ said, batten out the ceiling and install plasterboard and paint that. You will lose about 35-50 mm in height. Replace the existing light with a ceiling oyster unless you have enough height to install downlights. Remember that the ceiling height in most rooms (except halls, baths, laundry, storerooms or garages) must be 2400 mm minimum.

In NSW works below $12k don't require home warranty insurance – for piece of mind building, contractor risk, public liability and contractors/accident insurance etc should be bought for piece of mind.If doing the work yourself, then progressive reno you may escape not having to get an owner builders licence ie you don't need one if you are going…[Read more]

A couple of things to consider – what are your personal circumstances? ie can you continue to afford the repayments with the increase in the interest rate?  Why do you want to get out (is it becoming unaffordable)?How many more rate rises can you bear? Will there be any rental upside in the near future – is the unit already at market rent vs risk…[Read more]

I don't believe that there is a limit regarding the age at which you can acquire a property (it may be that it goes in your parent's name as Trustee for ……. but your solicitor can advise the best approach).A couple of things against this: you will lose your first home buyer's grant if you don't have it as your principal place of residence f…[Read more]

If you can get a local builder great – at least you only have one person to manage. Unless you are prepared to spend a lot of time at the place getting the work done/supervising & running around after tradies — forget it.An building & pest inspection are generally quite cheap <$1000 but well worth it if it convinces you one way or the…[Read more]

If it is yielding 11% what is the catch? Low growth area, nett or gross, is it about to fall down/be resumed for roadworks? Unless there is a major defect with the property, why not use the income generated for further purchases – $90k cashflow will buy a reasonable investment portfolio

The best reason to contact the water authority (ie Sydney Water, Gosford Council etc) is to get the old meter read so that you aren't billed for the incoming person's water consumption (just like electricity). Sure the solicitor may have done this however it pays to be sure.

Generally speaking, if it is a wall it is a defined element and needs council approval (load bearing or not). Due to the small scale of the wall it may get an exemption from a DA. If it creates a 'habitable room' it will need ventilation (5% of floor area) and natural light (10% of floor area) – a doorway does not count! As you are doing work in a…[Read more]

This relates to the stamp duty on your mortgage (not on your property transfer) – I keep my loans rolling over for as long as possible and shift the asset/security to the new property.

If you have a concern about the builder – first check them out with VCat or licensing authority. Secondly, ask them for reference check – if they let you select any one of their clients going back over the last year or two not just the few that they offer you. Guaranteed to get a different response if they have something to hide.

To make life a little bit easier, request that the first home buyer's bonus is given to yourself (reducing your exposure).  Work out how much it will cost you to finance the deposit & weigh this against a lower selling price.You will have to place a caveat over the property as well to ensure that you will get your money at the end of the day.…[Read more]

Jim, has the LEP allowing subdivision changed (now allowing greater subdivision than previously)? ie the advice at the time may have been correct but changed due to new planning legislation. The council isn't obliged to tell you what is on the cards only what they can currently approve (the rest is pie in the sky).

Probably most relevant if the investment is a new property (developer should be able to provide this for you). If it is relatively new ie less than 10 years a QS could help. If older, try a valuer and use your 2.5% of the building value.

Go to an 'el cheapo' conveyancer – still have all the necessary qualifications and professional indemnity insurances.If doing it yourself, you need to ensure that any mortgage over the property has been cancelled by the bank (and transferred to any other property if you want to keep the prepaid stamp duty).