I think you need to determine what you want out of a mentoring program. If you want someone who can explain and guide you through the investing process, teach you about different investing strategies and provide the support you require, and generally help you minimise the chances of making expensive mistakes, then that is one thing. If…[Read more]

I think you need to determine what you want out of a mentoring program. If you want someone who can explain and guide you through the investing process, teach you about different investing strategies and provide the support you require, and generally help you minimise the chances of making expensive mistakes, then that is one thing. If…[Read more]

In order to sack the body corporate manager you would need a copy of the agreement to determine what services they have agreed to provide for their fee. If they are in contravention of the agreement then the body corporate may be able to serve them with a termination notice. If however they are providing the agreed services, but you are not…[Read more]

When you say they “voted”, did they register a by-law setting out the conditions of the handing over of maintenance responsibilities to owners? If so, this should contain info that would determine the rights/responsibiliteis of both parties ie owners and owners corp. Your solicitor will be able to tell you if a by-law has been registered…[Read more]

Wake

Once you believe you have a good feel for the…[Read more]

http://www.fairtrading.nsw.gov.au

Select the real estate & renting link on LHS and go from there. It tells you about the rights and responsibilities of the landlord and tenant, what is required to self manage etc.

Regards

Wake

Make sure you understand clearly what the different types of insurances cover, so you are not left exposed anywhere.

Wake

Body corp fees are paid for 2 purposes:

Admin Fund covers items such as cleaning, lawns, gardens, repairs and maintenance to buildings, pools grounds etc, management fees, common electricity and water and insurance.

The Sinking Fund raises money for the long term repair and replacement of the major items such as painting, fences,…[Read more]

1.Minor reno, tenant moved in 2 weeks after setlling, plans already submitted to Council to build a duplex at the rear.

2.Major reno, tenants moved in 4 weeks after settling, working on plans to build another free standing house plus a duplex at the rear. This buy consisted of two…[Read more]

Just to clarify – a surveyor would prepare the strata plan for you ie draw up a plan showing the lots and common property, relevant measurements, UE’s and required notations etc. The solicitor would handle the registration of the strata plan at LPI (Land Titles Office). In between, someone would need to submit the application to…[Read more]

The local Council will be able to answer most of your questions, or maybe a surveyor familiar with the local requirements.

They will have minimum requirements for land size etc to determine whether you can subdivide the older house off. It isn’t necessarily a problem if they all share a driveway, as this can be addressed in a few…[Read more]

As a rough idea, if the house was built post 1985, you should be able to claim capital allowance (2.5% annually of the building cost) plus depreciation on fixtures and…[Read more]

Or an offset account might work for you – you put the $100 pwk into the offset account and it reduces the interest you pay by deducting the balance of the offset…[Read more]

I did the Just Renos course also.

I’m sure you would pick up at least something from the seminar, however you may not feel your money is justified.

I know some people on the forum are opposed to spending money on seminars, and believe they can pick this knowledge up from elsewhere cheaper. I attend an average of 2 seminars a year,…[Read more]

I thought there would be more tips and “how to’s” for renovating. For me, it was an enjoyable day, but…[Read more]

Make sure you increase the rent in accordance with the market from then on, so you keep your investment in line with others. Most tenants expect an increase periodically, and…[Read more]

It sounds like you’ll need one, and its easiest to apply for both at the same time – just tick the box.

Wake

If you have set a goal to retire at 40, you will hopefully have worked out what income you need to be bringing in to live on. Assuming you don’t yet have enough properties to generate that income, then generally, investors that are in the growing/accumulation phase will opt for IO loans, as the principal you might have otherwise paid…[Read more]

I don’t know how Councils work out values, but your value for building insurance will probably have no connection to this at all ie. the difference between the market value, and Council value of land is not the value of the building for insurance purposes.

Building sum insured should cover the cost to demolish and dispose of the house, all…[Read more]

Depends what state you are in. If NSW, and the vendor is the owner who strata titled, it s unlikely there will be an owners corp actively set up yet. This has to be arranged once a minimum of one third of the unit entitlements are sold eg if there are 6 units, and they each have the same unit entitlement, then if you sell 2 you need to…[Read more]

Wake.