hi i am not sure about this, however i am just in the process of refinancing loans and bankwest has asked for the insurance papers to reflect that they are the source of finance for the property. I haven't even changed the loans over yet and was surprised to see this as a prerequisite for the finance. Although I am more than happy to have this…[Read more]

Are you planning on relocating to Perth permanently? If not, perhaps you could rent in Perth as well as renting out your country house. What would be ther ental return on your existing home? Would it cover your mortgage and/or line of credit commitments? If you are not intending to stay in Perth this may be your best option, especially once you…[Read more]

If you have evidence that the rental is this far below market value then you may be able to increase the rent by this much. However, as stated above, you may be at risk of losing a tenant. It may also be worthwhile to inquire from both your real estate property manager as well as other property managers in the area what the current vacancy rates…[Read more]

Andy, have you thought about buying a PPOR and having your brother live with you and pay you rent? This way you would be eligible for the First home owners grant which you would not be entitled to if you bought an investment property. And depending on the type of property you bought you could, if you wanted to, rent another room to another tenant…[Read more]

Bergy, Have you investigated getting a variation on your tax. if you can show that you have a certain loss over the financial year you may be able to claim a variation and pay less tax each pay period. this would free up some money to put towards your PPOR. It would mean that you don't get a lump sum tax return at the end of the financial year,…[Read more]

Thanks for that Richard, I will keep that in mind as I continue to search for CF+ propertiescheersSonya

It would seem to me that you have dug yourself a huge hole. How were you planning to finance these loans if both you and your husband were not working? Why go so 'big' to begin with? Smaller loans are obviously easier to service as well as being easier properties to rent. Did you pay anything towards the mortgage repayments in the six month period…[Read more]

Terry and/or Richard,Do you know of any lenders that will lend on multi unit purchases? I have found a number of unit blocks that are cashflow positive, (Some with very good cashflows that would more than cover all loan, rates and insurance costs with money left over), however, the banks won't lend on these properties or if they will want a forty…[Read more]

HI i guess it would depend on whether you can do the work yourself, therefore not having to factor in labour costs. Also if you cupboard carcasses are in good condition and you only need to replace the bench tops and cupboard doors it is probably doable. Bunnings have what looks to be a reasonably good quality white vacuum sealed doorGoodluck,…[Read more]

Nicklee88 Am I correct in assuming the $1,000 was materials only, or did you have some professional help laying the laminate and/or floor tiles?looks greatcheerssonya

hi, i have four policies with GIO. i recently made claim after my tenant set fire to my kitchen and caused smoke damage to the whole house. i was on holidays when i received the call drom my PM. i called GIO they  assessed the property within a week and approved the repairs, actually going with the more expensive quote to ensure that the ceiling…[Read more]

hioff street secure parking is usually a value add on properties, especially in inner city areas with limitted parking. be sure to keep the design in the same style as the existing building so it doesn't look like a dodgy addition.cheerssonya

one other thing, arrange to have the rent from the melbourne property paid into your offset account and only pay the minimum amount of repayment onto that loan when it becomes due.sonya

Hi as i understand it you can use an offset account with fixed interest rate loans as well as variable. i would have the offset account set up against the loan for your new PPOR so that the largest benefit is in reducing the interest on this loan, as said previously any interest on this loan is not tax deductible. Also i assume this will be the…[Read more]

Hi Phlang,previous growth that is so high may be an indicator that growth may stagnate or go backwards, especially with the economic slowdown reducing the demand for resources, therefore mining cutbacks. Also if there is a lot of land being released this generelly means that existing house prices go down, or again,  stagnate. When there is a…[Read more]

i would work from top to bottom, so that if there are any mishaps with paint or scratching of the floors when installing the new kitchen cupboards you are not ruining your new floors. Also if you have not had any experience polishing floors i would get them done professionally. if you can, ask if you can see their work, to be sure that they…[Read more]

The other area that can make a difference is good lighting, whether adequate number of light fittings or well placed skylights. Street appeal is also important, have a defined path to the front door, good outdoor/security lighting and a tidy, easy care garden. House numbers although not necessarily increasing value, are appreciated by tenants (who…[Read more]

hi everyone i, don't know queensland very well, any suggestions as to where to start looking for investment properties? not sure if anyone will be willing to share their 'secret' knowledge or info, but i won't know unless i ask.cheerssonya

Hi Mike, sorry for the delay in responding to the free report you sent thru. it was great to receive this and confirmed that i was getting a great deal. unfortundately vendor pulled out of sale. So i will continue looking for good investment properties in victoria. Anyone looking to invest in Victoria, Mike offers an invaluable service. many…[Read more]

buying  a house in 1991 for $66K rented it for $120 per week from the start and paid it off in 18months, should have payed the interest only and bought more property with my positive cashflowsecond mistake selling my house that i owned when i started a new relationship, relationship now ended and starting all over again.i read a good book title…[Read more]