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Hi all We settle on a new IP in a few days (still looking for a tenant, though :(). We've already paid for a termite treatment (live termites in the grounds, though not the house; we couldn't delay treatment until after settlement). We'll be adding a dishwasher and one or two air...

In a few weeks we settle on a nice 1980s house in Brisbane's west. It doesn't have a dishwasher, and given that it's in a good suburb, we want to add one. I know I'll need a plumber to run a pipe off the kitchen sink and an electrician to add an electric socket. We'd need to convert a...

Hi all The tenant in our Frankston South property wants to break their lease, as they're having to travel too far to their new jobs. The lease runs until May 2015, but they'd like to leave in two months or so. My wife feels that they should have to find replacement tenants to move in and...

Hi all I've found old fibro home built in the early 1960s that I'm considering buying, but my wife and I have some concerns. Given it's age, it would need some renos (particularly bathroom), but my wife is concerned about the asbestos in the fibro. She also feels tenants wouldn't want to...

We're considering buying a 50 y.o. brick home in a middle-ring Melbourne suburb with a view to eventually subdividing and selling off the rear block of land as a battle-axe block. We've no experience with subdivisions and don't intend developing anything ourselves. We plan to rent out the...

Hi all We purchased a 10 y.o. house as a resi IP a little over a year ago. Earlier this year we engaged a Quantity Surveyor (QS) to do a depreciation schedule as we were between tenants. When we met with our accountant this week he pointed out (:o I know, I really should have looked more...

Hi all We put an offer in today on a house in a densely-packed suburb (newer suburb). Our offer was accepted, but we still have 3 days cooling off period. We've subsequently discovered that the two homes opposite 'our' house and its neighbour are Department of Human Services (DHS) homes...

Just read the article in this month's API re SMSF and am trying to learn as much as I can about them. Have read some articles on this site - thanks, all, particularly BV for your detailed post. What are the drawbacks of buying multiple resi IPs in a SMSF? One I noted in API is that you...

Hi all We self-manage our IP in Melbourne and have had the same tenants there for two years (on their second fixed-term lease, each lease being around one-and-a-half years). The tenants pay their rent in full, but always between 7 and 12 days late. Initially we'd phone or SMS them 3 or 4...

For those who've been following my IP lounge room heater saga (http://www.somersoft.com/forums/showthread.php?t=43477), I've started a new post as this question's somewhat different. We proposed installing gas ducted heating in our IP if the tenants would agree to a market rent increase (7.5%...

Our IP is 13 years old and self-managed. When built, the owners put in an electric wall heater (with fan and heating elements). Our tenants have rung to advise it's no longer working. Two electricians have advised replacing the heater as it's not worth repairing (at 13 years old), but I doubt...

The brick pillar on the right-hand side of our driveway (PPOR) is gradually tilting in towards the driveway, indicating possible subsidence (I guess). It was originally cemented to a similar brick pillar immediately next to it (our neighbour's property), but the gap between the two is...

With interest rates up by 0.25% and the banks talking about further rate rises, coupled with volatility and a downward trend on the ASX and others, what effect do you see that having on IPs (particularly Melbourne)? We're wanting to buy an IP but my wife's boss (who has successfully owned...

Hi all, There's a lot of really good advice on these forums, but I haven't been able to find anything that quite matches what I'm after, so hope you can help. What would be the correct loan structure for an IP loan where our PPOR is fully paid off (so no non-tax-deductable debt)? My wife...

Hi all We're finally getting into the IP market, having recently purchased a house and gone unconditional following due diligence. With 8 weeks left until settlement, I've been told I should get a cover note for the building (even though I have a clause that the building is at the owner's...

Am new to the forum but very impressed with the knowledge here. Have read as much as possible and found somewhere with rising prices and potential. Ready to buy my first IP, but need some help sorting through my confusion. I know I should be looking at CF+ (more along Margaret Lomas's...