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Hello forum, I have a development near completion - 2 townhouses out the back of an existing house. It will be subdivided at the end but I will be retaining all the properties. Do I need to set up an Owner's Corp seeing as I own all the properties? I'm in Victoria. Cheers!

Hi everyone, I have an old large metal garage that will need to be demolished to clear the land for a development I'm undertaking. I was simply going to throw it out, but then I wondered if there was any way to make some cash out of it. Is it legal to advertise it for sale, subject to...

Hi, I have an IP in my name which I have obtained an additional seperate loan against in order to fund the deposit for IP2, which has been bought through my Family Trust. Where do I claim the interest for this deposit ? in my own tax return (as the loan is in my name) or in the Trust tax...

Hi, I have an IP in my name which I have obtained an additional seperate loan against in order to fund the deposit for IP2, which has been bought through my Family Trust. Where do I claim the interest for this deposit - in my own tax return (as the loan is in my name) or in the Trust tax...

Hi, Just a quick question relating to a subdivision in Melbourne. There's going to be 3 dwellings on the subdivided block, so we'll need a body corp. However, someone said to me I should look to remove them all from the body corporate and have them as their own stand alone dwellings as...

Just wondering if the forum could advise. Have just bought an IP, settling in 2 weeks. We're having our first open for Tenants this weekend. Just drove around to have a look and the place is overgrown - going to need some major gardening before the weekend to get it in shape. Now - is this...

Hi all, Wanted to get some forum thoughts on my plans and how I might accelerate them. I've purchased an existing house on a large block of land. I plan to subdivide and build 2 units out the back. Approvals shouldn't be a problem, however I'm trying to work out the best and quickest way...

Hello, I'm in Vic. I've been to a few auctions recently for a bit of a look, during which the REA will mention that if there are no successful bids, whoever has made the highest bid will have first rights to negotiation. However, usually no one bids and the property passes in...

Was hoping to get some advice... The unit below my neighbour's is riddled with damp in the kitchen and bathroom - big chunks are coming out from the wall and it feels wet. My neighbour is worried that the wall will crumble and her unit will collapse. Apparently the tenants in the damp unit...

If you have multiple prospective tenants interested in renting your property, are you able to up the asking price to see who's willing to pay the most, or do you have to rent it as advertised? Also, one of them wants a fence. Am I able to say something like "Pay an extra $10 a week and I'll...

I'm buying a unit, which is one of two on a block. Currently, they have no PL insurance for the common areas, as each owner does their own thing and aren't obliged to have it (I believe). I'd prefer to have it, even if I have to pay it all. My question is though, who exactly offers such a...

I've been researching insurance, and have managed to get myself totally confused. Was hoping someone could tell me what exactly I need to have in place for each place!!! PPOR: Currently in a block of 10 units, so BC insurance covers the buildings, and I have seperate contents cover. Just had...

Hello, Just wondering.. if I agree to a 60 day settlement, does it start from when I sign the contract (which is conditional), or from when the contract goes unconditional? (ie, in a few weeks when finance is approved) Thanks!

I have a LOC with $24K in it. I need to transfer this to my personal account in order to write a cheque for a deposit should I win the auction I'm going to. If I lose, I want to transfer the $24K back to the LOC. My question is, will I have contaminated the LOC? If so, how exactly do...

I've just been to look around a house I'm interested in. All looks fine, apart from the fact that I can smell gas in the house. Seems to be the oven. How do I get the current vendor to fix it, or am I basically stuck seeing as it's an auction I can't exactly insert a clause into the contract...

We discovered a property on Sunday that seems to do what we want from a numbers point of view... long term tenants paying good rent, low fees etc, in the locale we're after. Only problem is, the auction is next Saturday and the Agent has advised we won't be able to have a look at it except...

Hi, Just wondering what people here tend to set as a min rental yield on an IP? Somewhere around 5%? Also, when calculating it, do I take into account Stamp Duty and Legal costs, or is it assessed purely on the sale price of the property? Cheers!

Hello, A basic questions that I'm just seeking clarification around: - what's the difference between Cash Flow Positive property, and Positively geared property? I know it's quite subtle - CFP takes non-cash deductions into account, is that correct? In that case, could you have a...