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Recently, I did an inspection of my house in Elizabeth East, Adelaide. Tenant showed me quite a few leak marks on the walls from the cornice downwards. Last year, only one area in ceiling had a leak just below the location of evaporative cooler (on the roof). There were some noise problems...

Hi all, A basic question to confirm my understanding: IP purchase price: 100K Depreciation claimed in 2 yrs: 20K Selling price after 2 yrs: 150K Capital gains: 150K-(100K-20K) = 70K (is that right?) So taxable amount: 50% of 70K (correct?) What other costs/expenditures are addedd...

For a friend of mine: PPoR value 180K Loan balance on PPoR 100K (CBA) Cash Available 50K Running a takeaway restaurant on a leased property for the last 3 yrs. Wants to buy a shop for 260K (offer accepted) and start a proper restaurant (dine-in). Having sufficient cash (other than 50K...

Hi guys, I've got a situation here. Bought an IP in Nov2009 and got the depro to do the dep. schedule for me. The value of the kitchen stove was $563 in dep. schedule. Now, in Sep 2010 (less than 1 year), I had to replace the old stove with the new one (cost $550). At the day of installing...

Hi all, Can somebody out there pls help me in getting the best (and cost effective solution) for the windows glazing requirement for the extension of my PPoR. The extension is 52 sqm (a living area of 45 sqm and an attached bathroom of 7 sqm). There are 2 windows 1500X1500 in the living area...

Hi all, This is to accept to myself and tell others about my mistakes in property investment. A bit of background first....I came to Australia in Apr 2007 on work visa and got my permanent visa in Sep 2008. Family: wife and a 9 yr old boy. Living in country SA town working in a steel...

Hi guys/gals, Recently, I'm taking quotes from the tradies for the jobs like concreting, timber work, landscaping etc for the extension of my PPOR. Some of them mentioned about the cash jobs at a cheaper cost. Also, I have read many times on this forum, people asking/telling to use cash for...

Hi all, I'm buying a new house from a friend (not exactly) of mine. The house is on the verge of completion barring few items such as: 1. approx 50% fencing 2. Carpet in lounge 3. Few taps in laundry 4. Gas water heater 5. Rendering of front porche 6. Upgrading Euro rangehood to...

Hi all, A friend of mine is buying a new house from an indivdual vendor. The house is just completed and handed over to the vendor by the builder. The question is how the builder's structural & appliances warranty (7 yrs for structurals?) is transferred from vendor to the buyer? Does he need...

Hi All, I have purchased an IP in my town (in SA) recently. I want to do the PM myself for this IP. I have got a friend who is ready to move in as tenant. Can somebody pls tell me where to get the standard lease/contract papers and all the steps for setting up the lease. Where do I get the...

A question with a hypothetical case: I'm building a new house with the "intention" of making it an IP and not the PPOR. The building process takes 2 years and in those 2 yrs I claim my interest on loan in tax. When the property is complete, my circumstances change and instead of keeping the...

Hi all, I'm in the process of buying a small property (IP) with my friend. We will have 50% partnership each (tenants in common). The question is: If he wants to buy my share after 1 year on then market value, 1. will he be liable to pay the stamp duty for the half portion? 2. Will I...

Hi, Has any body use the services of CW Financial Group. It is a Melbourne based company. They told my friend that if he is having an equity of minimum $110,000 in their PPOR, they can do wonders for him.....like they will make a $1.3m property portfolio for him and in 10 yrs he will have...

Hi all, From some other thread, I read that the costs of 2BR units in this area are in $200K range and the rent is $280pw range. And I verified that in realestate.com.au. The question is why this is so low although it shows only 13km from Sydney (CBD?) on map. In other big cities, we don't...

Hi investors, I'm a new investor and am exploring different options for my next IP. This forum is very very informative. However being a naive, I have a basic issue. After reading this forum for about 3 months, I noticed that almost nobody here talks about buying a new house (0 to 2 yrs old)...

Hi all, I've got a questions for the PI gurus. In "Elizabeth South" subarb of Adelaide, I have got 2 choices to buy. 1. $250K brand new house, 360 sqm land, 3 bedrooms, 1 bathroom, single garage.....rent potential is $250 pw. 2. $210K 40 yrs old house (average condition), 3 bedrooms, 1...

Hi guys, I have a car loan since Nov'08 of 20K with a redraw facility. I saved and paid 15k in advance in the last 6 months for that loan which is available for redraw. Now I want to redraw 15k out of that for the 10% deposit on an IP I'm going to buy. Are those 15k at 9.15% tax dedutable...

Hi All, I'm new investor and am reading this forum for the last 2 months. Thanks to all the contributors. My situation is: A PPOR loan with ANZ, an IP loan with CBA and going to buy another IP with a loan from Westpac. All small properties. My question is what are the pros and cons of having...