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Hi, In my PPOR I'm experiencing a slight problem regarding parking. If people request, I can put up real pictures. Anywhoo, imagine a long driveway for 4 garages. However, it's too thin, so only very small cars can actually turn into there respective garage (design problem). However...

Hi All, Just hoping for some comments on the situation I've found myself in. Purchased my First IP end in September last year. Been rented since then and last week I moved in. Activated Electricity etc, and also remembered Rates which I question myself on and why I haven't received them...

The place I bought used to be IP but to satisfy FHOG I need to move into it. Am I able to claim a deductions on changing the locks on the main doors and adding deadlocks? I'm expecting to returning it back to an IP in 12-18 months. Thanks, Matt

Is it worth the effort of sanding back/repolishing solid timber floors when the property is empty? I'm not sure it's something I should considering doing. I heard it's relatively expensive? From an IP/Maintenance/Rental point of view, is it worth doing? Am I right in assuming because...

I'm planning on going back and doing my MBA. (Master Business Admin). Something I'm been itching to do for a while now. I've been in IT for over 5 yeas, and I love it with no intention of moving but I want to bring the Business/Exec/Company side into it. Where is where I'm interested in the...

Ever since being on Somersoft I've changed alot of things, searching through my threads reveals a few things such as Inability to save, Car loan and lack of IP. Now they all fixed (big thanks!), I'm in my first IP and my budget is at the point where I can have $800 a month absolutely free. In...

I don't want to touch on the Porsche thread as this is a very different angle. When can one afford, or should he/she considering themselves financially stable to purchase a reasonably expensive car? Not a SL65, just not a bomb :) For an example, my current train of thought is any...

Hi, Looking for some rough dollars figures or advice 'if this works out'. Or a confirmation of my sums :) I'm trying to save/prep and configure myself for another IP December 08. Assumptions: Gross Income: $75K + super Rent: $280/week Apartment is earlier 1980's, renovated. Depreciation...

Hi, I've read Richest Man in Babylon, and Rich Dad Poor Dad - both I agree to be the stables of anyone interested in Investing or a parent keen to teach the youngsters a little something. Anyone recommend any others? Not specifically in regard to beginner books but just something for a...

Gearing up for my 2nd IP purchase, just got a couple questions. Are you within your rights to ask for a Rental History from the Property? (rent increases, number of tenants, missed payments etc? Is it possible to have a Rental Assessment check before you put an offer in? In cases where...

I move into my current IP and make it my PPOR in March 08. What exactly constitutes a PPOR, specifically in relation to Negative gearing and satisfying the FHOG? Setting all my banks/work to the address? Stop the Landlord Insurance? Obviously stop receiving rent from the existing. I...

So I've had it couple months now. It's alot of fun, the experience of buying your first home is unbelieveable. Are my main points of thought for the next 2-3 years to be to get as much money into it as possible? Extra payments and build equity etc? Or do I want to save 'on the side' for a...

Hello, How does everyone document there IP's in regards to have as simple as possible tax time? With enough documentation to support an audit. I personally just have a folder which I throw all receipts into. But this fiscal year will be my first IP Tax (Negative gearing etc) so I'm sure...

Hi, What is the legislation in regards to renting an IP to a family member? Possibly at a discounted rate? With the intention to still negative gear. My little brother has just turned 18, and needs a place and for his Uni, one of my IP's is perfect for him. (I only have 1 IP). Rent...

Hi, My Insurance just came up for renewal, and although I own the car outright - It's $1000/year for Insurance (Rating 1, 23 year old!!) then $1900 Excess makes it's almost not worthy of a car they have valued at $11,900. It's worth $15,000 but who am I to tell them that. Servicing it...

Hi, So my property finalized on my first PPOR (IP long term) and all looks good. I will be moving in end of current lease in March 2008 to satisfy FHOG grant which as everyone knows is minimum 6 months. Doing basics numbers (please correct me if I'm wrong) it makes no logical sense for me...

At the moment my Portfolio is a single IP property at 320k in Brisbane (just got into it!) Regarding Land Lord Insurance. Quick and simple question. Here is a quote I recieved from CGU. Without Rent default (10m liability) Annual: $292.07 Monthly: $24.33 Without Rent default (20m...

Hi All, Put an offer down on a place today and it was accepted, however it is currently tenanted until March 08. Because of this, I got a few questions. 1. How do I confirm 100% that Body Corp covers the building? (ie. If I/tenants burn my kitchen down it's covered). 2. What...

Hi, Can anyone please confirm, what's the exact reason to include a ~$10,000[+] deposit when you submit an offer to a vendor, via an agent? I'm fairly confident it guarantees the Real Estate there commision. ie. Cases where the property has been sold, moneys transferred directly from...

Hi All, Looking at my first PPOR (with FHOG) very soon. Infact I just put an offer down (stressful!) I'm throwing some numbers around in my head for when I turn it into a IP. Because it's over 320k, I still have to pay Stamp Duty so I am only tied into living in it for 6 months to...