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    Accountant and lawyer recommendation - Sydney

    Hi Mancha We could personally recommend Lambrini Dranganoudis of Davis Legal (Sydney). She has been a great help to us since we started our property investment journey in 2010 ? prompt excellent service, alerts us of problems, always upfront, helps us to save money, gives options, friendly...
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    Smsf

    Hi Tj22 Just some very quick general comments. Net rental income, say $30,000, of IP under your name needs to be declared in your own tax return and it will be taxed at your marginal tax rate (MTR) plus 2% Medicare levy; and surcharge if relevant. Assuming your MTR is 37% with 2% Medicare...
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    Property built over sewer line

    Hi Kendo re resale value. We walked away from a similar property (built over a sewer line) in Sydney a few years ago - after doing the sums and talking to the council and our lawyer. Limited potential; difficult to sell if you have to one day compare to others; higher risk; low capital...
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    Additional car parking spot ? advice please

    Hi all The basement of our townhouse IP in Sydney has enough spaces to create an additional car parking spot for each owner (4 townhouses on the block). It involves repositioning the garage roller door forward (or installing a new one), marking four car spaces, removing existing parking...
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    PM - Does this seem too expensive?

    Hi dmb1978 The charges seem high. Is it for a two year lease? We have two PMs for two different IPs in Canberra. We use different PMs because of different locations. PM1: Management fee - 8% + GST. Inventory & condition report $100 + GST. Letting fee - 1 weeks rent or...
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    Good property managers in Canberra?

    Hi Jamie M Thanks. Your advice on 6 Aug certainly helped. PS I visited your website - it looks great. Unfortunately I have a mortgage broker already for a number of years. But would revisit if things change. Regards Alice
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    Good property managers in Canberra?

    Hi Nic0 A short message to give you an update. Less than a few days after taken over our property, our new PM got two offers. The new rent is higher (and fairer) than the old PM’s. Just over a week or so she got a tenant signed off a twelve month lease!! Things are good now. :) We...
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    Rudd vAbbott

    Hi Mush I don't think it would be very good for Canberra based on our experience with the Howard government. Jobs and services will be cut and property prices will drop. Would it be the same for your State (Perth)? Regards AYK
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    Termination of Managing Agreement before tenant found

    We also had a similar experience - our managing agreement also has a similar clause. The old PM managed our property for 1.5 year and there were no tenants in the last two months. We were told that we could break the agreement immediately without fees because there is no (tenant) agreement...
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    Good property managers in Canberra?

    Hi Nic0 Thanks. Our rentals dropped from >$720/wk (paid by previous tenant) to $540/wk (and still falling) by our old PM! We think our problem is that we had a lazy (or too much to do, couldn't care less) and unskilled/inexperienced PM. Their billboard was in front of our house for 3...
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    Good property managers in Canberra?

    Hi Jamie M Thanks for your advice. It confirmed our thinking. We have checked out some local PMs and identified and engaged a new one today! Cheers AYK
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    Good property managers in Canberra?

    Need some urgent help, please! Does any one know a good property manager (s) in Canberra; preferably in the inner south (Griffith)? Not very happy with our current property mgt agency: no tenant for over 2 months despite many price reductions; no up-to-date or follow-up reports; garden left...
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    Law may force flat owners to sell up

    Thank you all for your comments. We are still worried about the issue of adequate compensation as a result of ‘compulsory acquisition’ if you disagree (i.e. being outvoted). Who is the one who determines the compensation amount? How do ordinary ‘mums and dads’ investors safeguard against...
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    Law may force flat owners to sell up

    Can someone please advise me about the proposed revamp of strata laws announced in September 2012 by NSW Fair Trading Minister? How does it affect us in investing in apartments in Sydney if the law can allow ''extinguishment'' of strata plans that require a unanimous vote of all lot owners...
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