Recent content by c9806103

So you want to rent your place out for cash in hand, while I pay for your fully claimed loss against your income out of my own hard earned income tax? You're dodgy = fraud. Even if your mate moves in and pays cash. The records with the utilities companies will show up clearly that someone...

Totally. People have got to live somewhere. Renting isn't cheap and cheaper houses definitely do exist if one is prepared to drive just 40 mins out of town and that kind of thing. As populations thicken up, newer/faster/efficient bypass roads are built which effectively bring those suburbs...

That was a great read Simon - many thanks and appreciated. I think even if I was locally based, I am busy building a business and would prefer to have it managed anyway.

Great advice, cheers.

Hi All, From December, I will be living rent-free for 12 months house sitting for my parents - I want to maximise the opportunity. My IP1 generates about $400/mth in positive cashflow. Value: 550k, owes 289k (LVR 52% / ~150k accessible equity). My income is 80k. When my parents return, I'll...

Thanks Simon, that was a good insight into the realities. It does sound like quite a bit of work involved, which doesn't scare me away. But yes, I imagined that the reality would be pretty much like that. Constant/chasing and cleaning etc. Yes I love North Lambton and Birmingham Gardens too and...

Thanks Propertunity, very helpful. All makes sense, I have noted a few of the stronger 4/5 bedroom places where the yield is better. So for a bit more buy-in price, definitely worth it then. And I will factor in the expenses such as cleaning and internet in future calculations as I was a...

Keen to hear Alan's (Propertunity) thoughts on this one and anyone else: http://www.domain.com.au/Property/For-Sale/House/NSW/Shortland/?adid=2008404111 - 950m block (possibility for later subdivision) - ~300k purchase price - already earning 400/wk rent - close to Newcastle uni -...

I have often wondered the same when looking at those same numbers Lorraine - great question. There are so many reasons why those numbers are all over the place and innacurate in particular towns due to large constructions or unusual events which make the numbers look different than the...

Most of the apartments in this price range are pretty old and thus depreciation is not much. And yes you can negatively gear it, but of course you are still out of pocket in the short term to cover the week to week cash flow shortage.

Ok so you can pickup some rock-bottom bargains at the moment in the depressed Cairns market such as 2 bed units in Central/North Cairns for around $120,000, renting for around 180-200/wk. Body corp + rates total about $4000/yr ($75/wk). The loan would end up close to 130k after stamp duty and...

That sounds fantastic - well done!

I have a great performing IP in the inner north and both growth and yield have been fantastic. Yes the rental demand is insane, this time when my tenants moved out after 12 months, I had new tenants on a new 12 mth lease signed up 3 days later with the rent increasing by $40/week :P This is...

Thanks Bill and HiEquity.. An offset account makes a lot of sense, in terms of having the cash there ready to go whenever something great pops up that I might be interested in investing in.. But I don't understand how it effectively earns me ~13% - Bill can you please explain? E.g. If I...

Thanks for the feedback and advice guys, greatly appreciated. Haha the sex comment made me laugh a lot. Some things may change: - Kids in 2-3 years time (this would add expenses). - Income should steadily rise / inflation (this would be a bonus, but no guarantee). - Girlfriend...