Hi All,

Good morning. Woke up earlier than usual.

I have always, in the past, put proceeds of sale in term deposit to secure existing loan. It isn’t always possible to find a property to buy after you’ve sold one. Honestly, I can’t be buying just because I’ve got to have a simultaneous settlement, that would be utterly suicidal.

In some…[Read more]

Hi Q,

The council always keeps a file copy. If they’ve lost it, your conveyancer/solicitor should be able to find a copy when doing their standard searches.

Take care.

Angel

Hi Rohan,

If you google the Canberra Council website you will find the answer to all your questions. http://www.act.gov.au.

Angelina

Dear Krissi,

You have a lot on your plate being a wife and mum. The intended move later in the year will cause some teething issues such as adjustments, and kids’ schooling (if they are of school age). So remember to take deep breaths.

Firstly, you are right to pay off the car first. Getting that out of the way means that you will have no…[Read more]

Hi Quickchick,

Thanks, replied back.

Angel

George,

I’ve sent you an email.

Angel

Hi George,

You ask the question, “Does this involve paying off the bank after renovating and selling it?”

No, not necessarily. Once you completed a project, and wants to sell it, you can at the same time offer to buy something within the same price range. You can then do a substitution of security.

For example: You bought a house for…[Read more]

Hi George,

You ask the question, “Does this involve paying off the bank after renovating and selling it?”

No, not necessarily. Once you completed a project, and wants to sell it, you can at the same time offer to buy something within the same price range. You can then do a substitution of security.

For example: You bought a house for…[Read more]

Hi George,

You are a Sydney-sider, that’s great. If you ever need grandmotherly advice come see me.

I believe in PRACTICAL education, so I reckon for what you intend to be, a TAFE course in building would be much better suited. It is hands-on learning and will get you into the workplace quicker. You will also get to know people in the…[Read more]

Hi Haratio,

Instead of moving out, is it possible for her to get fee-paying house mates? She has some cash flow problem, maybe this will solve it?

Maybe she doesn’t have to look too far away for a solution. I hope everything falls into place for her.

Angel

Hi Free@last,

Your question: Is x-security with PPoR a bad thing? Not necessarily. But it would be nice to keep it apart. I think it is less messy and it doesn’t get tangled with the rest of the “spaghetti noddle” x-collaterialised becomes. Especially as your portfolio grows.

If you do it as suggested to you, all you’d end up with are…[Read more]

Hi,

I can’t believe your insurance company?! Is this the industry norm? I wonder.

I don’t know anyone in Queensland but you might be able to lower your cost if you speak to the tradesman your insurance will send to remove the internal wall. Tradespeople sometimes will do a little extra work, not part of the quote, for a package price.

When…[Read more]

Hi George,

Oh my goodness, can they get any younger? Makes me regret all the wasted energy I spent

How do you start? My simple answer is S W I M. This has been my philosophy from day one. Save. Work. Invest. Manage. This is the simple formula for success.

If you are working, even if that’s flipping hamburgers at McDonald’s, save your…[Read more]

Hi George,

Oh my goodness, can they get any younger? Makes me regret all the wasted energy I spent

How do you start? My simple answer is S W I M. This has been my philosophy from day one. Save. Work. Invest. Manage. This is the simple formula for success.

If you are working, even if that’s flipping hamburgers at McDonald’s, save your…[Read more]

Hi Free@last,

Without complicating the issue, why can’t you simply use the existing property A ($480K unit) to buy Property C (a new IP)? Why do you have to “sell” it to your wife? It seems to me that all you really need is to grow your property portfolio, but maybe I’m wrong.

This is just one of many scenarios, certainly not the best, but…[Read more]

Dear Nathan,

All these information can be a little daunting and overwhelming. There are to many twists and turns, each time you make a turn, there is a twist.

Don’t worry, there are plenty here to hold your hand. Don’t be daunted by it.

In a sense, it is almost a necessity to start small. This is not to say that if a big opportunity comes…[Read more]

Hi Richard,

When Cammeray sells, I intend to ask the bank to put the “sale money” in term deposit to be secured by the existing loan; as opposed to paying it off. I have used this strategy three times in the past, but as you said, there maybe a tightening on this strategy.

I will report back whether successful or unsuccessful.

Blessings.

Angel

Hi Haratio,

Based on the information you supplied, it doesn’t make sense for your mum to rent out the property. The fortnightly bank repayment you said is $676; but the realistic net fortnightly income would be just $468.00 ($260 x 2 less 10% agent’s fee). Where would she find the shortfall?

The shortfall gets worse when you also consider all…[Read more]

Dear all,

I hate the thought of ageing. Oh my goodness, I’m like, (as the kids would say), 12 years away… to being considered senior citizen. I promised myself that by the time of my retirement, I’d have divested myself of everything. I’d live in a small plot of land, swinging away in a rocking chair.

It’s all too hard.

Take care.

Angel

Dear Ryan,

Richard has a point regarding an account for rent payment. Mine only works for me because I don’t use the rental payment for anything else but mortgage payment.

Take care.

Angel