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I recently purchased half a duplex (strata titled), and am trying to arrange lawnmowing of the common area and building insurance. I keep leaving messages with the other owner, but she doesn't return my calls. If I arrange building insurance but the other owner refuses to pay half, what can...

Just checking my assumptions are correct... Bought a property with FHOG. It was tenanted and still had a few months on the lease, so I waited three months after purchase then moved in. First 3 months = IP (claim income & deductions on tax return) After I moved in = PPOR (don't claim...

Once I've found my next IP (in Townsville) I'd be interested in getting a buyers agent to help with the negotiations of purchase (to make sure I can get the best possible price and not pay too much). Does anyone know of buyers agents that operate outside the big cities? I'm sure it must be...

Just bought/read More Wealth From Residential Property by Jan Somers (seemed the thing to do, seeing as I'm on the Somersoft forum!) One of the best things the book did for me was to spell out the DSR (debt service ratio) calculation, which is that (AS A GUIDE ONLY, because banks differ) your...

Help! I signed a contract, the sellers have signed and I sighted a Body Corp disclosure statement from last year. The REA said it would take a few days to get a new one made up but I can still make a written offer etc. In the new one the BC costs are HEAPS higher, which means the prop is...

I'm signing contracts tomorrow on a townhouse. I inspected last week, but there is a tenant in there (who will stay until a few months after settlement), with lots of furniture and 'stuff' laying around. Apart from moving the tenant's furniture (probably not going to happen) there's no way...

Just trying to get my head around the serviceability thing, so I know what my future options may be... Let's say I am now able to get a maximum loan of $300k. If I go out and buy my first IP with a loan of 150k and it's cashflow positive (or neutral), technically I'm not out of pocket at...

Hi everyone, Can someone please help with the legal wording of a sunset clause? For example: "This offer expires at 5pm on xx date. If the sellers have not responded in writing by this time, the full deposit shall be returned to the offerer and the offer is declared withdrawn." I want...

I was talking to an REA this morning (he wasn't on the job, I actually bought a motorbike from him!) and he said that any agent can effectively be a buyers agent by agreeing to split the commission with the selling agent. In fact he said that it was against the law for the selling agent to...

Just doing the pre-purchase figures on potential IPs, and I have no idea how much to budget for maintenance costs. I know it depends on the age of the place and the size. For example what might it be for a 2 bed villa 10 years old? Compared to a 3 bed house 20 years old? What sort of...

For example, if a property is advertised at $280,000 and you've decided it's worth $260,000, what would you offer to start with? Obviously if you start with your maximum you've got nowhere left to go, but if your offer is ridiculously low you will probably not get taken seriously. (I know...

I'm just curious what criteria you use when actually choosing which IP to buy. (And if anyone wants to share a basic spreadsheets? For some reason you can't search for 'spreadsheet' and the couple that I managed to find seemed pretty complex for a beginner and didn't come with instructions!)...

Hi, This feels like the kind of question that must have been asked a million times before, BUT I searched and did not find! I just went on a loan comparison site, checked out the best rate basic loan (Greater Building Society) and sent them an email. They said that I would have to actually...

Firstly, I'm on a fairly low income (low 30000s), and let's just assume this won't change for a while.:eek: I get the idea that most people say IO loans are the way to go for an investment property. But am I correct in thinking the main advantage to interest only is that the interest payments...

Hi, In all the info I've been reading on negotiation, it says to figure out whether the owner would prefer a longer or shorter settlement and then include that in your offer. So I just thought why can't you add something like: 'settlement period to be any period the seller chooses between x...