Recent content by Vortiflect

Hi all, Just beginning to dip my toe in the water with my first reno of an IP. However, not being a handyman, I need to find other people to do all the work for me! I'm currently sourcing quotes to replace the bathroom (which currently looks like this) however my budget is only $8k and I'm...

Thanks @RenoTeam and @Jane - Hotspace for the suggestions! Still waiting to see if I can get any money out of the bank :-) @Perp: The laws state you can't supervise building work without a license, but in this case I think they are using the term 'supervise' to mean 'take responsibility...

Thanks for the info, I will contact Andre and see what he says. @Perp: I'm after someone to keep the builder in check ;-)

Hi all, I'm in the process of purchasing a new property near Brisbane and while it is currently tenanted, it needs a bit of work done on it. The tenants are moving out (back home to Europe) a month after settlement, so I'm hoping I can take the opportunity to do a quick reno after they've...

Thanks everyone for the detailed replies! It certainly sounds like they won't suit my current investment style (particularly as I'm relying on 95% LVR at the moment) and having to worry about the tenant's wellbeing is something I could do without! Very interesting to hear exactly *why* they...

Hi all, After reading some of the discussion on this forum it looks like a good way to quickly reduce my non-deductible debt would be to get a LOC and use it to pay all the interest and other expenses for my IPs, so that all rent can go towards paying off the PPOR loan. All my properties...

Surely if you/your property manager vets your potential student tenants thoroughly this would be kept to a minimum? International students are also more likely to leave unneeded belongings behind when they return home, but if you partially or fully furnish the property I imagine that would...

Interesting point. I wouldn't be surprised if you did have to prove exactly when the damage occurred. If you are worried about it, you can always make sure there's a day of overlap and ask the property manager to carry out another inspection on that day, just to cover all bases.

Interesting. Yes I have no problem with paying rent and I already have two IPs. For me the rent that I would earn on the ex-PPOR would for the most part cover the rent I would have to pay to my new landlord, so in effect I wouldn't be paying rent, or earning rental income from the ex-PPOR...

Hi all, I'm wondering whether I should stick with my PPOR and all its non-deductible expenses, or whether I'd be better off converting it into an IP and moving into rental accommodation instead. Given that the rent would probably match (more or less) my loan repayments it would probably...

There was a complex of units that recently came on the market near me that had a similar deal going. In this case (as I understood it) you rented it to the QLD gov't at market rate but they could put whoever they wanted in there. My only concern is what would happen in the way of maintenance...

If you settled for $20/wk under market rent you would miss out on $1040 on a 12 month lease, assuming you didn't put it up during the year. If you put it up to $410/wk and your tenant moved out, you would lose (presumably) $410 in the letting fee, plus however long it takes to find a new...

Hi all, I'm new to this forum so I hope this is the right place to ask. In my (relatively) local area there are a number of cheap (~$100k) one bedroom units up for sale in retirement villages and over 55s complexes. The rent seems good and reliable, but if they're such a good investment...