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is it standard practice to purchase without site a inspection. I would like to know if building and pest report are fine and tenants are in place, is this safe? As I live in Sydney ( which is terribley hard to find positively geared property ), obviously I cannot fly interstate with every house I think might be suitable. Anyones help would be appreciated. ThanksHi
I am fairly new to this as well with only one place so far. But from what I have read and studied so far is that as long as you have a good property manager you should be okay. Get things like the building reports and pest inspection…the last thing you want is to buy a place with major structural problems because this could cost you a thousands down the track if something is wrong with the place and turn from what looks like a good deal into a very bad deal. Hope this helps a bit.
Cornel
557799
Bear in mind that you are not living in the property and only looking at the property as a vehicle to generate income.
As long as the building & pest inspection reports appear fine and you are happy with the location then you don’t needd to actually inspect the property.
In ending remember when you do pop upto Qld on holiday ensure that you visit the property so that you can log the visit and cliam the cost on your next tax return
Cheers Richard
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http://www.fhog.com.auThere is no such thing as a problem.
Just a solution waiting to be foundRichard Taylor | Australia's leading private lender
Hi
I am fairly new to this as well with only one place so far. But from what I have read and studied so far is that as long as you have a good property manager you should be okay. Get things like the building reports and pest inspection…the last thing you want is to buy a place with major structural problems because this could cost you a thousands down the track if something is wrong with the place and turn from what looks like a good deal into a very bad deal. Hope this helps a bit.
Cornel
I agree that Pest and Building Inspections are a must, and the last 2 properties I have purchased have been off the internet. I did have someone inspect 1 of them for me, and for peace of mind you may want to do that.
In regards to claiming trips to IP’s on tax, remember that if you go interstate/overseas to visit your IP whilst your going on a holiday in the same area, the amount claimable will depend on how much of your trip was actually to the property. ie. you cant claim airfares and fuel if you spent 3 weeks in QLD and 1 day visiting your property.
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