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  1. J

    Recommendation for Kitchen reno in Sydney's Inner West

    Any tradie recommendations for kitchen reno in Sydney's Inner West Hi All, Can anyone recommend someone to replace the kitchen in my IP in Sydney (Inner West)? I'd like to get it done in between tenants and would be looking for someone to measure up, remove the old and install the new...
  2. J

    Renting when cheaper than purchasing

    We own 1 IP in Sydney's Inner West and rent basically down the road - can't afford to buy the type of property we want to live in, so we're renting a place that we love instead of living in the 2 bed flat that we could afford to buy. The place we bought ticks the boxes in terms of an...
  3. J

    Cross-collateralization

    Hi All, I've read a few times that you should only need to save for a deposit once. After that, capital growth and your equity allows you to purchase more property. However, doesn't this mean you're cross collateralised i.e using IP1 to purchase IP2? Cheers, Jaz
  4. J

    Good solicitor in Sydney?

    I'd also recommend Jenny. Cheers, Jaz
  5. J

    Separate bank account for investment property?

    Hi Terry, Ok, just need to try and sort out that offset account situation... http://somersoft.com/forums/showthread.php?t=92479 So if I have rent and salary going into one account and IP expenses coming out, of it, it's just a case of keeping receipts and tax invoices for tax time and...
  6. J

    Separate bank account for investment property?

    Hi Jamie, We don't own a PPOR, just the one IP. I'm just wondering whether it's better to keep our salaries, living expenses etc. separate from the IP income and expenses. Cheers, Jaz
  7. J

    Lender says that cash in offset won't reduce minimum repayments (Interest Only)

    It's Newcastle Permanent. I don't understand why they would sell a an IO+Offset loan at all?? Cheers, Jaz
  8. J

    Separate bank account for investment property?

    Hi All, Just looking at getting my accounts in order following my first IP purchase. In order to easily keep track of IP income and expenses, is it generally best to have a separate bank account for investment purposes (for rent to be payed into and expenses to come out of)? Any...
  9. J

    Lender says that cash in offset won't reduce minimum repayments (Interest Only)

    Hi All, I've got a bit of an issue with my new IO+Offset account. According to the bank, putting a lump sum into the offset account linked to my IO loan will not reduce the interest repayments - the minimum monthly repayment will not change. The offset will only have an impact if principle is...
  10. J

    New kitchen or leave it very basic?

    The property is newly purchased so this will be the first tenants. It has new blinds and carpet in bedrooms, new paint job inside but otherwise is pretty basic. Schedule not done yet though. The property will be vacant when we get our hands on it. The flat itself is fairly neat, but the...
  11. J

    Property Accountant

    I'm also interested in the difference in process, results, fees for an individual who has a fairly uncomplicated financial situation. Perhaps I should ask, "Does anyone think paying for a premium (?) accountancy service ISN't necessary or worth it in the beginning? Cheers, Jaz
  12. J

    New kitchen or leave it very basic?

    Hi All, Our 2 Bed apartment (IP) in Sydney's Inner West has a very basic kitchen. The temptation is to rip it out and put in an Ikea/flatpack kitchen to make it a bit more appealing before we look for the first tenants. Having said that, is it worth the effort? I don't really have the time...
  13. J

    Property Accountant

    Have you used these since you started investing (or before), or did you "upgrade"? Cheers, Jaz
  14. J

    Strata Report states that building is under-insured

    Yeah, I was thinking that. Insurance is due for renewal in October. I'll call the company that prepared the report. The lender needs to sight the body corporate insurance and strata plan prior to settlement. Any idea how closely they look at the policy (bearing in mind it appears that the...
  15. J

    Strata Report states that building is under-insured

    Hi all, I'm looking at a strata report which states: "We note the building is under insured according to the above valuation." However, the building is insured for the exact amount listed in the building valuation (building replacement cost). Why would this be considered under-insured...
  16. J

    Property Accountant

    Sorry- just realised this thread is a little misplaced.
  17. J

    Property Accountant

    Hi All, I know Strategic Wealth and House of Wealth are both held in high regard on SS. I'm also looking for an accountant but my financial situation in fairly basic by Somersoft standards: 1 IP, average dual income (myself and my wife), no trusts etc. I'm not sure that we would get enough...
  18. J

    NSW Central Coast

    Out of curiosity, how many of the advocates for buying on the Central Coast either live there or have some sort of attachment to the area (e.g. previously lived there)? I'm interested to know how many "outsiders" would opt for the Central Coast over other regional areas. Cheers, Jaz
  19. J

    NSW Central Coast

    Got to agree with you - I've given up on anything happening in or around Gosford for maybe 10 years... who knows, maybe 20...
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