Who knows if knocking off $200K is cheeky or not. We settle tomorrow on a house where the owners were asking $655K (under advice from their the agent). Sat for over six months and we contracted at $460K. The asking price isn’t always what a property is worth.

We have considered buying a “dream home” a number of times, whenever a local “landmark”…[Read more]

We are in the middle of a renovation on an 80 year old house 5km from Brisbane city. We have –

1. Painted internally.

2. Pulled up carpets and polished floors.

3. Removed a wall so the living area and breezes flow from front to back door.

4. Removed the ugly bathroom and are ready to put in a new one.

5. Bought some bathroom fittings on eBay,…[Read more]

Just a note to add about the tenancy tribunal. About two years my parents were having trouble getting some tardy payers out. Had given the proper notices etc. They kept paying at the last minute and notices were re-issued a couple of times before it finally went to the tribunal.

Contrary to what many think, this magistrate (whatever they are…[Read more]

I would ask the PM to get quotes to fix the slightly fallen in ceiling. Then I would ask them to get the thing fixed at the tenant’s cost.

My thoughts, Wylie.

I wonder if you have any sort of relationship with the neighbours, as in, can you broach the subject without them being hostile.

I would tell them you use the room all the time and look straight at their compressor. I would offer to pay something towards having it moved three metres so you don’t look at it. If they don’t want to pay anything…[Read more]

Hi, I don’t know how you lose the agent but not the tenants. Someone will post the answer though. Perhaps you can approach the tenants privately and let them know you want to manage the place yourself (just in case the agent gets a case of sour grapes and tries to move them on to spite you).

I do know that if you live close, managing it yourself…[Read more]

If the agent issued a new lease in the new name but didn’t change the bond, I would think it is up to her to pay you and fix things up her end. I’d lean on her to fix it.

If the lease was never changed to the new tenant, then the original leaseholder would still be responsible for the bond. Again, the agent has made the error, and should be made…[Read more]

Just bought a queenslander and have spent the past seven days (ten to twelve hours each day) ripping up carpets, layer upon layer of lino, demolisted the bathroom, painting, painting, painting. Feeling a tad tired but it is wonderful seeing a sow’s ear turn into a silk purse. Very rewarding!

Going to run a bath now and wash the cockie dirt out of…[Read more]

I’ve got to speak up for the “we hate flyscreens” folk. I grew up with flyscreens in Brisbane and when I married, my husband talked me into living without them. The breeze comes through twice as well without them. We have had NO issues with tenants wanting flyscreens over 25 years in Brisbane. If we need to, we use the little plug in things that…[Read more]

I’d definitely contact the ATO and get a ruling on this. I don’t know the answer, but if you are intending on doing it, you need a ruling in writing, not just someone’s opinion over the phone.

I have rung two different ATO offices, say city and Mt Gravatt, and received differing opinions on some matters, so get it in writing.

Good luck and happy…[Read more]

We love old properties because that is what is in the inner Brisbane suburbs we like to invest in. I would also love NOT to have to gap and paint VJ walls but unfortunately that comes with the territory.

Personally, we don’t mind if we have to replumb and rewire because it means everything is new and won’t require maintenance for many years.…[Read more]

Hi,

I know I will probably get shot down in flames for saying this, but if the property is in good condition and more importantly, in a good position, I would go for it, assuming you can service the small loss. When I look at a purchase price I multiply the purchase price x interest rate and divide the answer by 52 weeks. In this case $140,000 x…[Read more]

I have (for twenty years or more) had an unlisted number and am never bothered with these types of calls (except when I have entered a “competition” and then I know I may receive a call). Until recently when my parents unlisted their number they got maybe one or two calls a night sometimes. Drove them crazy.

The problem with unlisted numbers is…[Read more]

Hi Jenny,

I must differ from some of the other posts. If the place needs painting now, I’d do it while the tenants are in. I’d tell them the painters will need access for two weeks (or whatever) and they will have a freshly painted house. If they are hesitant, offer a rent reduction while the painters are in, but they may not ask for it. If they…[Read more]

Hi, we will be heading to the US early next year and I saw in the Money magazine an add for a no cost Wizard Clear Advantage Mastercard.

# No annual fee. Ever.
# 0% interest for six months on transferred balances.*
# No fees for ATM withdrawals, cash advances or overseas purchases.
# A low 12.4% rate on purchases AND cash (unlike some other low…[Read more]

In Qld, the bond goes to the RTA, who issue receipts to you and the tenant. At the end of the tenancy, they refund the bond. No interest.

Regards Wylie

Hi Amanda. Also happy to oblige. We seem to be at a bit of a standstill and would welcome a chat. It might motivate us.

Regards, Wylie.

If you have subscribed to the daily property email mentioned on this site, you would have read read this morning that rents have increased and are tipped to increase more in Sydney, Melbourne and Brisbane. I tried to put the quote in this post, but it is all too hard for my Monday brain. I have just increased our rent by $10 per week (still a tad…[Read more]

I personally would not buy a PPOR on a busy road. I also would not buy an IP on a busy road, unless the price was extremely cheap. Don’t forget that many people won’t want to rent it and when it comes time to sell, many people won’t consider even looking.

The only way I would consider it would be a really cheap deal, with good cash flow, because…[Read more]

We have never paid an agent, have had only one really bad experience where we lost about $1000. Tenant damaged some VJ walls, luckily had insurance and the $1000 was insurance excess plus rent not paid in final weeks.

However, we have always owned IPs in the same or nearby suburbs and can be very hands on with vetting prospective tenants and…[Read more]