Recent content by Modal Harmony

Married my beautiful lady when I was 21, she was 20; four beautiful daughters later; she is my best mate and now the girls are all grown up, we've never dated so much! :) We own a business together, 5 IP's together, play music professionally together, but still have separate interests. It...

Excess Water Consumption Out of the 5 IP's we own in SE QLD, one tenant in particular is quite excessive with water consumption. Does anyone on the forum charge tenants for "excess" water usage over a reasonable amount?:confused:

Hello M043, we have 4 IP's in the same area (Meadowbrook Lakes / Edens Landing / Loganholme) all managed by 1 PM. She has done a good job over the past 6 years with all of these. Inspections get done, maintenance issues reported / arranged and rent collection properly managed and reported...

Bigtone is spot on; the same thing happened here in Queensland with the Bowen Basin coal mining towns. It's certainly a risk you take but if you have a diverse portfolio, then probably OK if you factor in the resources upturns/downturns which shall significantly impact on property values.:cool:

Hello Sabina, Boods is correct; we are just negotiating a lease as franchisees of a Jetts Fitness 24/7 gym facility for 5+5+5 and the yearly reviews are at CPI, but the final review at year 4/5 is capped at 8%. Please ensure you have a competent solicitor go through the document to avoid any...

Hi Milan, a quick online check on Yahoo Finance for a $630k (say) loan for QLD as IP with no loan outstanding yields $22,700!! :eek: Are you sure you want to proceed?? Loan calculator link: http://au.pfinance.yahoo.com/calculators/stamp-duty.html

Hi Liz, I presume this property is for you to move into (with FHOG considerations). If so, are you comfortable with the amount of reno required? I only ask this so you don't become disappointed living in a dwelling where major works are required, but your financial commitments on the...

Well done on the IP purchase. Are you able to buy out the remainder of PPOR from your friend? This will make things a little easier I think for future investing, especially if your friend does not share the same vision as you for IP's.

Definitely recommend a pool blanket; we have one for our PPOR pool and it's been a Godsend (Brisbane westerly wind will remove 10mm level per day :eek:). The other benefit is we have no chemicals required for algae control since the daily blanket use stops sunlight hitting the pool bottom and...

Hi Murray, good idea to tackle one item first (reno work @ $100k). Consider really carefully the managed fund route - we did that some years ago, then got out and with some self-education went the ASX path. That way, you stand to gain or lose according to market conditions at the time...

Hi Jacinta, might I suggest a chat with your Accountant as well? Do you have a property savvy one??

Hello again all, firstly thanks to Richard & Gools for your feedback - much appreciated! :) Secondly, spreadsheet has been redone - there was an error where PM & maintenance costs were doubled up, hence the poor rental value. I missed a cell in the sheet (dolt! :eek:). IP01 now looks better...

Hi all, I have attached a spreadsheet summary which some of you might find helpful. This automatically calculates current LVR & gross yields based on when an IP was purchased to what it is worth today. Remember the data is only as good as what you put in (GIGO ;)). The calculated weekly rent...

Reply from QLD Hi, we've been extremely pleased with our broker (based in Adelaide) as they shop around amongst the major underwriters. Give them a try and see if they're competitive. http://www.norcrest.com.au/

Hello, I would strongly suggest that a mature aged person who knows how to deal with sticky situations goes a long way. When we first started in IP's in 2003, one criterion we had to select the PM was to get them to submit their procedures applicable to the whole PM process. Some gave no...