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It has taken me more than 7 years to dip a toe back into the property market, I don't even think our first IP has any CG :o Bank will only lend us 300k (could prob get more with different lender). I'm quite happy to get into the unit market, noted that the rental demographic would definitely be...

Quick overall of what we've had to do in the last 8 years of holding the property, not just in the last 2 years. I think no.2 is the only relevant one for now ... but thanks for all the good advice :)

We've finally got some good tenants in for almost 2 years. They don't complain, we self-manage. Usual issues of maintenance over the last few years such as fixing things, fix aircond, replace gas HWS, bathroom exhaust etc, install soakwells. Replaced carpets recently as they were in a state...

Received a text message from the agent acknowledging that our earlier conversation was "difficult" and that he was "a bit shocked at the mention of a low 240k offer but as you know I must submit all written offers..." Are these agents' tactics or just personality?? I did react a bit initially...

http://somersoft.com/forums/showthread.php?t=109639 Started post elsewhere, posting here now as I might have further updates... :eek:

Wow. Just wow. We missed a home open on Sunday so I organized for hubby to have a private viewing last night. REA calls me this morning and asks me what we thought. I said we were still looking at other properties, but maintained that any offer made would be under 250k. He then said he had...

I guess when people say do due diligence, are there any other factors I should take into account, in terms of market value etc. Thanks for all replies so far :)

You can't get a 3BR house in Lynwood for under 400k anymore. There's a block of land across the road just about to release new 3BR builds. The area is slowly coming up, with flow-on effects from neighbourhoods like Willetton and Parkwood. Pretty sure crime is still an issue, but maybe with more...

I know that buying a house requires due diligence, and I wonder if I could use a real-life example of what we're looking at right now. We already have one IP and are thinking of buying a 2br unit. It's located in Lynwood which is about 18km from Perth CBD, is close to major shopping centres...

Ok, I wasn't really sure how to read "each applicant....": Each applicant and/or their spouse cannot have owned residential property anywhere in Australia before 1 July 2000. Each applicant and/or their spouse cannot have previously owned residential property anywhere in Australia on or after 1...

Thanks Jessica. I used one of the banks calculators and she would only qualify for about 145k (includes rent) so she would short about 100+k. If we take a loan and include her in it, would she still qualify for FHOG?

Thank you Brady!

yes it feels messy, and I'm only dipping a toenail in ..... So if I do buy only in my name, and wanted to transfer the property to her at a later stage, as a first home buyer she wouldn't have to pay stamp duty (property under 430k), correct? So that might be an option, when she is working...

Oops can this be moved to Property Finance (I think?)

We almost own our home outright, would value it around 750k. Looking down the track, hubby currently earns 100k, I'm a stay-at-home mum who plans to go back to study next year, then swap places with hubby but income wil probably reduce to about 50k+. We have an investment property where the...

I have an email from the plumber that contains the tax invoice for some work on rental toilet. It's not a file or attachment, just straight text in the email. It says Tax Invoice but doesn't have GST or a ABN no. Is this a legit receipt to claim tax?

Thanks guys. I went and refreshed on how an offset account works ;). My lender does offer it but I'd just have to convert the loan into an eligible loan ($95 fee) and the offset account costs $10 per month. I guess I would just have to work out how much funds in the offset account is worth it...

Sorry, I don't understand?? I don't have an offset account for the investment loan. The redraw option on my home loan is really simple, it's just like a transfer request.

Hi, hope this is right thread ... not too sure. In about 12 months, we may be paying off our home loan, so a couple of questions: 1. Instead of paying the loan right off, I feel like I should leave a few k to keep the loan "open" - this is so that we can redraw if we need to, instead of...

What's the best way to go about estimating cover for building insurance? We bought average 3x1 home (607sqm land) in 2007 for $305 000. I think land value around then was $160k. We insured house for about $160k. Insurance keeps increasing the cost so it's now $194k. I've used an online...