Whatever colour you choose, I’d maybe pick a mid to darker colour. I’d pick something which enhances your house. Tenants should be cleaning the carpets prior to vacating. If not, take it out of their bond.

My advice though would be to avoid wool. We are about to replace a beautiful wool 3 x 2 metre rug because it has a 6″ square area (under a…[Read more]

I would suggest (very respectfully) to ditch the line of credit. We changed our LOC to a normal housing loan with redraw over a year ago and our housing loan is decreasing nicely.

We still can redraw if needed, but it is much easier to be disciplined when we have a monthly repayment and we only redraw when we absolutely have to (rarely). It has…[Read more]

Hi, depends on where the old property is. We bought one at auction (went to have a sticky beak at a local auction with my mum and 6 kids and a dog and came home with a house). Had to work up the courage to tell my hubby – no worries.

Everyone else (mostly neighbours) at the auction (except the other bidder) thought we were bonkers. Red shag pile…[Read more]

We have added a dishwasher and put air-conditioning in the living rooms (which flows into the bedrooms). Both are pluses if someone is deciding on your house or another without them.

A few years ago we were finding that without a deck, we were losing potential renters. We added a huge covered deck, which cost us but in the long run adds more than…[Read more]

I agree with Dazzling except that I’d be getting both names on the lease (assuming the daughter is of an age to sign a lease). Hold them both responsible for everything or you may find you end up with a halfway house type situation.

We had a situation recently where three people signed the lease. One moved out after about a week, the remaining…[Read more]

I knew someone who had a toddler and a baby (years ago). Her husband promised her a kitchen for a couple of years. They were slowly renovating and she was using tubs and tables for a kitchen.

She and a friend took the kids and flew to Hong Kong and she rang her husband and told him she’d be home when the kitchen was in. She was home within the…[Read more]

“I work in the security industry, if your security company told you that I would ask them to put it in writing. What a joke, telling you that something they sell isnt going to work as its designed to!!!”

Devilcv8 – I didn’t say that. I said in Queensland, apparently the fire brigade has the option of charging for false alarms, if they wish. More…[Read more]

We have had IPs for more than 25 years and never paid a PM. My parents bought their first IP when I was 15 so I knew a bit about how to go about things by the time I bought my first IP.

Over the years I have (many times) offered the first week’s rent to local PM to find a tenant. I have only ever had that happen one time. I believe (and I also…[Read more]

We have wired in detectors in IPs and also at home. In our two previous PPOR we had them linked to back to base alarm systems but this time we were advised not to (by the alarm company). Apparently there are so many false alarms that the fire brigade has the option of charging for the false alarms. Charge could be several hundred dollars per…[Read more]

In my opinion, you have answered the question yourself. If it is under market value, you have not increased in in 18 months, I’d be asking for the 15%, especially if you are not too concerned if she moves out.

I’d go for it. Better the money in your pocket, especially as she has been getting cheap rent for quite some time. If you manage your own…[Read more]

I love television. In fact, I don’t know anyone who doesn’t have one.

We have two televisions, one we all watch (mostly) and one the boys use mostly for gaming. We will not allow the boys to have a tv or computer in their rooms.

We pay $65 a month for Optus and while I’d like to save the $65, I don’t watch any free to air TV (except ABC and…[Read more]

I think you can have lack of stock but a slow market. Unless I had to sell right now, I’d be holding off, hence the lack of stock.

I went to an inner suburban auction Saturday, beautifully finished new townhouse. Bizarre auction … hardly anyone there. First two bids were vendor bids, then the auctioneer went for instructions and two sales…[Read more]

Hi WWSurvey,

Thanks for your advice. I also got a private message from another forum member which I will follow up on.

Thanks again, Wylie.

Just in case you are wondering if anyone appreciated your joke…

I laughed so loudly at the computer my boys (16, 13 and 9) just had to know what was so funny. They thought it was so funny (especially the 9 year old, they think jokes about “privates” are hillarious).

I’ve told quite a few people.

If you have any more, I’d like to read them.

I…[Read more]

I know that with our package, I am guarantor (but to a small limited amount) for the investment loan in my husband’s name. I don’t earn anything and I’m fairly sure it is because our family home is used as security for a loan in his name only. It certainly wasn’t anything to do with my income.

Regards, Wylie

I would get things sorted before you exchange contracts. I know someone whose house and the neighbouring house used to belong to mother and son (now both houses in different hands). The pool (or pool surround) in the yard of the people I know is slightly in the back yard of the neighbour. Obviously it wasn’t such an issue when mother and son lived…[Read more]

Just an update. Called again and got a yes this time. I have prepaid and, nice surprise, it is considerably less than last year.

Thanks to all, Wylie.

I know with our Westpac housing loan, our every day account (husband’s pay goes in, rent goes in) is fully offset, so the benefit is the same as we had with our LOC. In effect, we don’t have to deposit anything into the offset, it is our daily account.

Regards Wylie

I also find the same thing. We know a family who say houses are a lesser wealth builder than shares (each to their own), don’t understand our interest in IPs, waffle on about the sharemarket and say we’d be better off with shares.

We used to have these discussions, say that you can’t build a deck on a share certificate to improve it, etc…[Read more]

We had a LOC for four years with one bank and at the end of four years, owed the same amount. Admittedly the loan was for less than $40K and we had a much larger investment loan which we paid each and every month, because we had to.

With three growing boys, our cost of living was escalating, so I would keep drawing the LOC to it’s maximum. I also…[Read more]