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Ok so this is how it was explained to me. Work out how many days we owned the property. Work out how many days it was a rental for and work out the percentage of time it was a rental. So in my case approx around 33% (depending on when it sells) Work out the cost base (which for my...

Never mind. I rang the ATO today and they gave me all the info I was after. Pretty helpful actually.

Hey all, So i've done a search but can't find exactly what i'm after. My wife and I own an IP and it is about to get listed on the market. We bought it back in 2006 for 230k and lived in it straight away until 2010 and then it became the IP. At that point it was valued at 330k. Due...

Hello, So the tennants I had in my IP have done a runner owing me money as well as a hefty cleanup/repair bill. My insurance will only cover the rent they owe me plus the repair costs however does not cover the cleaning. Now i'm guessing I can claim the cleaning bill come tax time but I...

Just as an idea I am about to get a slab laid for a garage so i'm getting 35m2 which willl be 100mm thick with RF62 mesh but the engineer wants a 200mmx200mm footing all the way around the border with N12 rod for reo. All up it is going to cost me $2800 laid plus excavation costs. The part that...

Yep. Excellent advise that :)

Ok these are just my thoughts that i'll put out there :) The 2 beddies look ok however if it was me i'd move the Kitchen right over to the wall and lose the little hall to second bedroom. You'll lose the internal access to the carport but I don't think that would be a big deal. Speaking of...

I like these spreadsheets. They help out a lot however what do you do when you are 50/50 owners in an IP. How do I work out the figures on that.

It's funny you should mention this and some of the examples of people not listening. There's a guy at my work in his late 20's that earns more than me, single and still lives at home. I've said to him before that he should do something with his money. If he's still happy living at home that he...

I thought that may have been the case. Thank you very much for your response :)

Hey all, One of the guys I work with is currently looking after his folks place while they are overseas. On the property is a rented Granny Flat. Well today they discovered that a tree had destroyed a sewerage pipe and it needs to be fixed because there is you know what everywhere. However it...

I had the exact same thoughts :eek::):) As far as the lift goes wouldn't you still need stairs. Just in case the lift broke down or there was a fire or something like that.

My wife and I did a bathroom reno on our old PPOR last year (It's now an IP). We didn't have really deep pockets so what we did was each fortnight or so we purchased the items we wanted and just stuck them in a spare room until we had everything to start the job. We worked out what we wanted and...

Is it possible to see what the competition is like. What I mean is have you looked at what other houses around you are like and what they are selling for. Actually selling not just listed. Might give you an idea on what you might get for your place. If spending that extra 10k on the outside can...

Hey Perp, Sorry may be I wrote my original post badly. I'm just disappointed that I wasn't properly informed and I didn't do my own research properly. My fault but it's no biggy. These things can be worked around. As for the forms that was St George's fault. I explained to them what I...

Hey peoples, I need to vent some anger about my MB my Bank and myself :mad: So after reading a few things on here I decide to make things better for myself and situation. When I set everything up earlier this year to get a new PPOR and turn my old one into an IP I clearly wasn't given all...

So just getting back to this. Is Yield worked out on the properties value or what you owe on the loan on said property.

I would say no to all of the above however it would depend on your council. Just as a side note too. With the carport you would have to replace it like for like. So if the old one is 5mx5m then the new one would have to be the same. You would also need to check to make sure it is an approved...

Oracle I like the way you think. What you have said is pretty much a similar plan to what I plan on doing. Whether it is the right plan or not i'm not sure but there is only one way to find out :D Well actually there is probably other ways to find out but I understand Property and Shares so...

Ah ok. That makes sense. Thanks for that.