Recent content by mooki24

I too am looking for a new PM in Frankston if anyone has any recs? I heard Terri from LJ Hooker was quite good but she seems to have moved on (?)

No it was during business hours on a week day and the tenant would have the Property Manager's number. I just want to know what my rights are. If this happens again can I refuse to pay?

Apparently the fuses, meter and "panel" were melted after many years of damage. $310 all up. The tenant was working on an "important work document" so saw it as an emergency that there was no power. And as far as I can tell, this all happened during business hours on a weekday. So very annoyed...

Yes I thought that was the case too. And considering most Property Management companies have emergency or out of hours repair numbers, I don't see why the tenant should need to organise their own repairs. My tenant doesn't seem to care about the correct process which potentially costs me more $$.

Hi all The power at one of my rental properties went out recently and instead of calling the Property Manager, the tenant organised their own repairs. They are now asking for reimbursement of $300 for the electrician to replace a couple of fuses, which seems a bit high. I will pay the...

Hi all Does anyone have any recs for good Building Inspection and Pest Inspection companies in Perth? Preferably SOR? Thanks :)

Haha, I think we have different definitions of fun Terry :p Even though it's painful it's actually been a good learning process and I really appreciate everyone's help and advice on this. It can sometimes be hard to get straight answers from the accountants and solicitors. I'm still not...

I'm not sure what S302B is trying to say Terry, are you able to explain in lamens terms? My accountant has advised that this is possible as the Property Investor Trust Deed is drafted this way. And as far as I'm aware there are product rulings for the PIT that allow this? This whole thing is...

jrc77 - Thank you for your advice. My property will still be negatively geared for a while and I don't have any other trusts / businesses to offset the losses against so I'm not sure a discretionary trust would be the best solution for me. Terry - Thank you also for listing out the positives...

So is there any reason why a property investor would use a discretionary trust? Would it be if they have a positively geared property? I don't see how this would be useful. The Unit Trust sounds like the better option for me however if it doesn't provide much asset protection, I don't really...

Hi Terry I've received some legal advice and have been told a discretionary trust may be most suitable to me. However I was of the view that discretionary trusts, whilst good for asset protection, don't allow negative gearing. Is this correct? The solicitor then advised that I should check...

Thanks guys. Do you have any recommendations for good lawyers in Melbourne who are trust experts? I've already received advice from Chan & Naylor but think I should be relying more on the legal advice..

Thanks Terry. By professional advice though, do you mean legal advice? Accounting? Or both? Who is the best person to advise on trusts?

Terry - Did you used to be a finance broker? If so, I think you actually helped me buy my first house back in Perth :p Thanks again for your advice. Now I feel completely confused about what to do to be honest. Each type of trust seems to have its pros and cons. Would you recommend I go speak...

Very cool :)