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Hi Guys, For the first time ever I have been trying to rent one of our houses on the Gold Coast for 6 weeks and it's getting expensive. This is unusual even just 8 weeks ago we rented one in 3 days. According to todays newspaper vacancy rates on the Gold Coast are 5.5% compared to 2.2% in...

I purchased another IP and settlement went through last Friday. The house is 7 years old and I thought that it was in reasonable condition for 7 years ware and tear. Carpet had many marks, some look like gum and very dirty. Vegemite crusts all over the place and generally very untidy and messy...

Hi Guys, We have a married couple that have leased one of our IPs for over six months now. They seem nice people and really look after the property but they are always late with rent. Generally, they are a week or two behind which doesn't worry us but recently they were 4 weeks in arrears and...

Hi Guys, In September last year, the NSW government changed the State Environment Planning Policy to address affordable housing by allowing granny flats to be rented as dual occupancy. I think the size limit in NSW is 60m2. I've been searching for a similar policy in Queensland and have...

Hi Guys, We have an IP for rent this weekend on the Gold Coast for $420pw. An agent called me and said he had a couple looking for a rental for around $500pw. We normally manage ourselves but he said he could get a better price. The agent and the couple came around this arvo to inspect the...

Hi Guys, Can anyone recommend a good handyman on the Gold Coast. Our previous one decide to rip out all the water saving washers and we had to ware the tenants water bill so I'm looking for another. Thanks in advance. Cheers, Bazza

Hi Guys, Wondering whether to fix or not and I came across a few banks that have fixed rates with one year payment in advance. Bank 3 yr 5 yr ANZ 5.99% 6.84% Bankwest 7.04% 7.69% St George 6.79% 7.44% NAB 6.89% 7.09% Westpac...

Hi Guys, We need to comply with the SEQ water efficiency standards to charge tenants for water consumption and we have installed water restricting washers to the taps and showers (9 l/min) but how do you know if the dual flush toilets meet the standard ie 6.5 l full flush/3.5 l half flush...

An interesting article: Robert Kiyosaki - How did we get into the current financial mess? Please see http://finance.yahoo.com/expert/article/richricher/124339 Last year Robert was recommending silver - now it's gold. Cheers, Bazza

Hi Guys, We have signed up two tenants for one of our IP's and they were to start the lease and move in on Friday. They gave us a small deposit to seal the contract. They were going to give us the bond tomorrow but today one of them rang and said that they have had a falling out and they...

Hi Guys, One of our tenants broke the lease and gave us a Form 13 Notice of Intention to Leave. They have moved out and we are currently advertising for another tenant. We assumed that according to the law we are able to deduct from the bond advertising costs and rent until a suitable...

Hi Guys, I really like Rixters strategy of "Capital Growth Averaging and Living off Equity" and I have been changing my thinking and have now incorporate this concept into my investment strategy. But, the Reno Kings had an interesting tip in this months API mag: "The disadvantages of...

Hi Guys, We have put an offer on another IP, had the building and pest inspection which was OK and now waiting on finance approval. But, there is a pergola off the master bedroom that is basically just a frame with no roof. I asked the agent and apparently it has been there for many years...

Hi Guys, Just signed a contract on another IP today in Varsity Lakes on the Gold Coast. Great house in a popular area just 2.5km from Burleigh Beach and 2km from Robina Town Centre - can't go wrong. The agent pointed out to me that under section 8.1 of the standard REIQ contract that: "The...

Hi Guys, OK we have decided not to buy our next IP in our HDT. So now we may have a land tax issue. In Queensland an individual person has a land tax threshold of $600k. This means that I could buy 2 IP's (land value $300k each) and my wife could buy 2 in her name without attracting land...

Hi Guys, I am looking at buying another IP, hopefully in the next week, and would like your valued opinions on whether or not I should put the new IP in my MGS HDT. Should I just buy it in my own name until there is a tax ruling on HDT's? Cheers, Bazza

Actually Brenda, it looks like there have been four responses to posts in the last week - so there's hope yet. Cheers, Bazza

Good News: At its meeting today, the Board decided to leave the cash rate unchanged at 7.25 per cent. Please see http://www.rba.gov.au/MediaReleases/2008/mr_08_07.html Cheers, Bazza

Hi Guys, One of our IP's has just come off a 3 year fixed term and is now on a variable rate hoping that it will decrease by the end of this year. This of course means that the mortgage payment will increase by $111 pw. I know the current tenant won't be happy with a $40 pw increase in...

It's not all that bad. When things are bad - the rich get richer. When things are good - the rich get even richer. Please see http://www.youtube.com/watch?v=8CQ5gJNxsdk&feature=related for a positive view on the US sub-prime crisis. There are four parts that discuss how you can make good out...